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At COP29 in Baku, global leaders and innovators gathered to advance sustainable progress, marking significant milestones in the global carbon market. Representing ZETA (Zero Emissions Traders Alliance), Secretary Türkiye Kutalmış Ersoy participated in discussions focused on the implementation of Article 6.4 of the Paris Agreement.
The adoption of new Article 6.4 standards created opportunities to transition existing projects and launch new ones within this framework. These standards introduced oversight for carbon removals and methodologies, providing a foundation for scaling impactful climate actions and enhancing transparency in low-emission markets, particularly in the MENA region.
However, several critical aspects remain unresolved, including the establishment of a mechanism registry and the designation of operational entities—key steps required to make Article 6.4 fully operational.
As part of the Türkiye delegation, ZETA contributed to the dialogue, emphasizing the importance of building markets rooted in transparency and accountability. The conference underscored the need to address uncertainties in green markets to enable reliable price signals that guide future investments.
These developments represent an important step toward a sustainable future where carbon markets play a pivotal role in supporting global climate goals and economic resilience.
