Businessman Andrey Melnichenko has called for a single, unified global carbon market to replace the patchwork of regional trading schemes now in place, arguing that fragmented systems make it harder to price emissions consistently or direct investment toward cleaner technology.
He points to gaps in coordination between markets such as those in Kazakhstan and the United Arab Emirates, and argues that existing international frameworks, including the Paris Agreement, have not kept pace with the scale of the problem.
The case for a unified market rests on two goals: distributing emissions allowances more equitably across countries, and speeding the transition to a low-carbon economy at a time when extreme weather events are becoming more frequent.