| Summary: | Climate change is a global phenomenon caused by natural variability or as a result of human activities such as large-scale use of fossil fuels (coal, oil and natural gas), land use changes (clearing land for logging, farming, and farming), and end-of-use activities, land and forestry, and consumerism. The critical issue of global carbon trading is related to market competition between developed and developing countries due to non-uniform carbon prices. First, regarding mitigation results transferred internationally, namely international trade for excess emissions reductions over NDC targets. Second, regarding sustainable development mechanisms, namely emission offsets through projects carried out by public and private entities everywhere. Third, regarding non-market approaches, namely reducing emissions through mitigation and adaptation efforts, financial assistance, technology transfer, and capacity building, including carbon taxes and CBAM. This research uses a type of juridical-normative research, namely research carried out by studying, describing, synthesizing, interpreting, assessing, and analyzing positive law. The results of this research are a paradigm shift related to the "polluter pays principle" which is a concept that recognizes that entities or individuals who pollute the environment must be responsible for the costs of the pollution they produce. The carbon market ecosystem in building a new paradigm of sustainable development. The carbon market ecosystem plays an important role in building a new paradigm of sustainable development by providing economic incentives to reduce greenhouse gas (GHG) emissions and tackle climate change. © 2024 Authors.
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