Markets & Policy
Paris Agreement
The 2015 treaty under which countries commit to nationally determined contributions and cooperate on carbon markets.
The Paris Agreement established a universal framework: every party submits a nationally determined contribution and reports progress under an enhanced transparency regime.
Its market provisions matter because they create the accounting infrastructure — corresponding adjustments, authorisation, registries — that determines whether an international credit can be counted once and only once.
Frequently asked questions
Are NDCs binding?
The obligation to prepare, communicate and report is binding; the ambition level is nationally determined.
Why do corresponding adjustments exist?
To prevent the same reduction being counted by both the seller and the buyer.