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in december 2015 193 countries agreed to binding climate targets in paris by doing so they aim to limit global warming to well below 2 degrees celsius if possible to 1.5 degrees celsius the paris climate agreement proposes that countries voluntarily work together to achieve their national climate targets so-called nationally determined contributions are ndcs a key role here is played by carbon offset projects which reduce co2 emissions and thus generate radial co2 certificates these co2 certificates can be transferred to international offset markets [Music] these markets are governed by article 6 of the paris climate agreement the specific framework conditions and binding rules are the subject of lengthy wrangling it is not until 6 years later at the climate change conference in glasgow that the rules of implementation are adopted article 6.2 sets out the direct cooperation between states namely through the mandatory offset market article 6.4 governs voluntary engagement between a stat