Explainer Infographic: Carbon Markets and Article 6

Carbon markets are central to global climate cooperation but they're complex, evolving and often misunderstood.

By John Lang

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John's latest infographic breaks down the essentials of carbon markets: what carbon credits are, how Article 6 of the Paris Agreement enables international trading, and why the details — from corresponding adjustments to the difference between reductions and removals — matter for both integrity and delivering net zero.

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Sources

- Carbon Direct – The State of the Voluntary Carbon Market (Apr, 2024)

- Carbon Market Watch – COP27 FAQ: Article 6 Explained (Nov, 2022)

- Carbon Market Watch – FAQ: Everything You Need to Know About Article 6 at COP28 (Nov, 2023)

- IISD – Will International Carbon Markets Finally Deliver? (Nov, 2023)

- Nature Conservancy – Article 6 Explainer (2023)

- Nature Conservancy – COP29 Article 6 Key Outcomes (Apr, 2024)

- OffsetGuide – Carbon Credit Guide (Feb, 2025)

- Smith School – Article 6 Focus: Bottlenecks and Breakthroughs (Bonn) (Jun, 2023)

- Smith School – Article 6 Focus: Outcomes at COP29 (Apr, 2024)

- Smith School – Oxford Principles for Net Zero Aligned Carbon Offsetting, Revised (Feb, 2024)

- UNFCCC – Article 6.4 Mechanism

- UNFCCC – Article 6.4 Supervisory Body

- UNFCCC – Cooperative Implementation

- World Bank – What You Need to Know About Article 6 of the Paris Agreement (May, 2022)

 

Acknowledgements 

With thanks to Dr Injy Johnstone at Oxford Net Zero and all members of the Net Zero Lawyers Alliance — especially Georgina Beasley and Wendy Miles KC for their insight and encouragement. 

Additional thanks to Steve Smith, Beatriz Granziera, Niklas Höhne, Emma Coker, Melissa Lindsay and Kaya Axelsson for their expert advice.

 

Future iterations

This will remain a living resource, evolving with ongoing negotiations, changing dynamics and updates to the rules. If you have suggestions or spot anything that needs clarification, please get in touch: john.lang@eciu.net or on LinkedIn.

 

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