In the Paris Climate Agreement, which (as of January 2021) has been ratified by 188 countries (including China, USA, EU, India, Russia), each country submits a plan to reduce greenhouse gas emissions towards climate neutrality within its own borders.
These plans usually focus about 90% on avoiding emissions (e.g., generating electricity through hydropower instead of burning coal) and about 10% on negative emissions, i.e., removing unavoidable emissions from the atmosphere.
Since, in contrast to the Kyoto Protocol, all countries pursue the goal of reducing emissions, the tradeability of avoided emissions will be phased out. In contrast, trading of negative emissions will be further established and will dominate emissions trading in the foreseeable future.
As early as 2030, greenhouse gas emissions must be at least 50% below their 1990 level - this is the aim of the Swiss parliamentary resolution on the total revision of the CO₂ Act of Sept. 25, 2020.