While global carbon markets are coming, they will probably only arrive in time to protect the world from 2C of warming, said Emilio Lebre La Rovere, from the Federal University of Rio de Janeiro.

Prices need to rise from about $35 a metric ton on average now (in the 25% of global emissions covered) …to about $100 a ton by 2030, he told me Friday in an interview at COP29.

This is based on a 2017 study and higher carbon prices may now be needed (or lower if new tech is found): CarrZee

There is some interesting ambition being shown by countries including Sweden and South Korea, who are buying Article 6 credits, La Rovere said.