The market for carbon offsets is booming, and a series of efforts have sprung up to define rules and standards that will tackle their often dodgy reputation. Global agreement on those rules is crucial to achieving a net-zero future and essential to helping avert the looming climate catastrophe.

In an Op-Ed for TIME Ideas, TED Global Curator and TED Countdown co-founder Bruno Giussani and Gabrielle Walker, founder of the climate consultancy Valence Solutions, highlight how carbon markets can bring about meaningful climate action.

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