Baku, Azerbaijan - November 18, 2024 A Chinese representative said Wednesday that negotiations on the details of a global carbon trading market are ongoing at the United Nations climate change conference or COP29 in Baku, Azerbaijan, after negotiators ratified a key framework following years of deadlock. COP29, formally known as the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change, is taking place in Baku on Nov 11-22. Negotiators are gathering in the Azerbaijani capital city to discuss strategies for reducing carbon emissions, achieving carbon neutrality, and advancing the transition to green technologies. On the first day of the conference, negotiators from almost 200 governments struck a final deal on Article 6.4 of the Paris Agreement to create a new structure for a global carbon market led by the UN. Under Article 6.4, an integrated and global carbon mechanism will be established, overseen by a UN body for the trading of emissions mitigation units created globally by various projects. These include how to validate, verify and issue credits. Talks are underway, involving the authorization and transfer of emission reduction indicators, as well as the corresponding registration system. The negotiations atmosphere is better than in previous years, said Wang Jijie, a negotiator of the Chinese delegation at COP29. The establishment of an international carbon market is a complex issue, involving the balance of interests among countries, the allocation of emission reduction responsibilities, and the formulation of trading rules. Although some progress has been made, there are still some details that need to be resolved in the following years. Shotlist: Baku, Azerbaijan - Nov 18, 2024: 1. Baku Olympic Stadium, venue for COP29; 2. UN flag, national flag of Azerbaijan; 3. COP29 sign; 4. Monitors showing event arrangements; 5. Various of participants walking, talking; Baku, Azerbaijan - Nov 20, 2024 6. SOUNDBITE (Chinese) Wang Jijie, negotiator, Chinese delegation at COP29 (partially overlaid with shot 7): "If we can finish discussing all these issues this year, most of the technical problems will be solved relatively well. From my personal point of view, at least for now, everyone is working towards the goal of completing the negotiations, and this year's negotiation atmosphere is indeed better than in previous years, so this also provides a basic condition for us to achieve such a positive result in the final conference."; Baku, Azerbaijan - Nov 18, 2024 [SHOT OVERLAYING SOUNDBITE] 7. Various of participants discussing; [SHOT OVERLAYING SOUNDBITE] 8. Various of COP29 venue, United Nations Framework Convention on Climate Change (UNFCCC) logo, COP29 sign; 9. Various of media staff; 10. People passing by COP29 sign. [Restriction - No access Chinese mainland]