Progress is being made on operationalizing Article 6 of the Paris Agreement, which governs international carbon markets. Recent negotiations have focused on establishing clear rules and methodologies for the transfer of emission reductions between countries. A key development is the establishment of a centralized UN-run mechanism, alongside rules for bilateral agreements. These frameworks are designed to ensure environmental integrity and prevent the double counting of emissions reductions. The operationalization of Article 6 is crucial for unlocking international cooperation on climate action, allowing countries to use carbon credits to help meet their national climate targets (Nationally Determined Contributions) while channeling finance to mitigation activities in other nations. The new standards are expected to provide a robust foundation for a new generation of high-integrity international carbon markets.