World leaders have finally agreed to preliminary rules for how countries and companies can trade carbon emissions credits, striking a compromise at the end of the United Nations Climate Change Conference of the Parties, aka COP26.

After six years of negotiations, the framework came together Saturday after the official end of the conference in Glasgow, Scotland. The deal strengthens Paris Agreement rules on Article 6 and makes the climate pact fully operational. 

The rules outline how governments can create, value and trade credits under an international carbon market that is seen as key to achieving the bevy of net-zero emissions targets by midcentury that have been announced in recent years. 

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