ABSTRACT
The United Nations Framework Convention on Climate Change (UNFCCC) has been organising the global effort to manage climate change by the different countries. The UNFCCC was launched at the 1992 Rio Earth Summit. It has aspired to reduce the global greenhouse gas emissions to a lower level which would prevent dangerous anthropogenic interference with the climate system globally. The Paris Agreement also reaffirmed a commitment to reduce emissions by the 195 different countries to achieve a 2 degrees Celsius global warming target. The COP24 meeting held in Poland in December 2018 had over 23,000 attendees from different countries globally. There was one significant area which was not agreed at COP24. This was on the important Article 6 on global carbon markets. The key reason was that some countries wanted a more permissive carbon market regime than other countries.
