Article 6.4 , also known as the Paris Agreement Crediting Mechanism ( PACM ), aims to build a global market where countries can trade verified emission reductions. It replaces the old Clean Development Mechanism (CDM) of the Kyoto Protocol, under which more than 7,800 projects were registered between 2006 and 2020. This new system ensures that carbon credits come from real and measurable emission reductions. (Jennifer L., more at CarbonCredits.com)