Carbon market. The future investment of sustainable development in developing countries: climate smart investment

There is no doubt that the problem of climate change has become imperative for all parties oа the international community to join forces to resolve this crisis. With the signing of the Paris Agreement and following many deliberations and negotiations, this agreement is a new phase in dealing with the reduction of greenhouse gas emissions. With the participation of everyone, whether developed or developing countries, that opens the door to a new system of investment in the implementation of this commitment. Article 6 of the Paris Agreement is the cornerstone of this new type of emissions exchange between the parties. The old emissions trading system under the Kyoto Protocol has shown many advantages and disadvantages, which open the door to the need to find a new system that achieves the actual emission reduction target and opens the way for a new type of FDI. Although the features of the new system have not yet been formed, but many of the ideas and theses dealt with by many intellectuals and economists on how to develop an emissions trading system that achieves the goals of sustainable development. In this paper, a new vision will be taken to put Article 6 of the Paris Agreement into effect, in order to achieve the objective of the main agreement which is to reduce emissions without having a significant impact on development plans, especially in developing and poor countries, on the one hand, and the opportunity to attract foreign investment and capital flows towards more attention to the green economy.