The threat of climate change has gone from speculative to a full-blown reality within a matter of decades. Scientists, politicians and corporate leaders all agree that we need to act fast before our communities, health and way of life are severely affected. As a follow-up to the Paris Agreement in 2015 which set out ambitions to limit global warming to 1.5°C, nations and global businesses convened in Glasgow last month for the 26th Conference of the Parties (COP26). The resulting Glasgow Pact set out a rulebook to operationalize some of the pledges and targets announced in Paris. A key highlight of the outcomes surrounded Article 6 of the Paris Agreement, paving the way for the development of a global carbon market.