UNCTAD Launches Global Carbon Market Network at COP31 to Unify Fragmented Markets
The UN Trade and Development (UNCTAD) agency is set to launch the Global Carbon Market Network at COP31 in Antalya, Türkiye. This new initiative aims to address the fragmentation within global carbon markets, which currently suffer from diverse standards, registries, and trading systems. The network will work to enhance cooperation among exchanges and market institutions, focusing on technical aspects such as market integrity, the measurement and verification of emissions reductions, and the use of digital technologies to boost transparency and lower transaction costs. UNCTAD's objective is not to create a new carbon market or standard, but rather to connect existing voluntary and compliance markets. This effort is particularly geared towards unlocking carbon finance for developing countries, where most voluntary carbon credits are generated before being sold to buyers in developed nations. The launch comes as carbon pricing mechanisms, including emissions trading systems and carbon taxes, are expanding, c...
