In 2023 global carbon trading market transactions approached 1 trillion

The global carbon trading market can play a significant role in mitigating climate change. The Paris Agreement provides a legal basis for creating such markets. The rules include the possibility of connecting to other trading systems. The global carbon trading market has been connected to Switzerland's emissions trading system. Multiple countries have expressed support for establishing a global carbon trading market, stating that such a global approach would be preferable to the EU's carbon border adjustment mechanism

The global carbon trading market traded $948.75 billion in 2023. It is expected to reach $2.68 trillion by 2028 and $22 trillion by 2050