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One of the key outcomes of the COP26 meeting in Glasgow in 2021 was the establishment of Article 6, which regulates carbon markets under the U.N. Framework Convention on Climate Change. It is argued that carbon markets could lead to more rigorous climate action by enabling governments and entities to trade carbon credits generated by the reduction or removal of greenhouse gases from the atmosphere, such as by phasing out fossil fuels and switching to renewable energy or conserving carbon stocks in ecosystems like forests.

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