Carbon Market Coalition Welcomes 18 Member Countries at COP30

The international commitment aims to integrate global decarbonization initiatives and establish a common carbon pricing framework among countries. Membership in the coalition is voluntary and remains open to new participants

By Mayara Souto and Fabiana Otero / COP30

Brazil convened high-level leaders on Saturday, 15 November, to advance discussions on the Open Coalition on Compliance Carbon Markets, launched during the Climate Summit in Belém on 7 November. The commitment has already received the endorsement of 18 countries. The initiative seeks to establish a shared standard and connect different carbon credit trading systems to generate liquidity, predictability, and transparency for the sector.

“This initiative is based on the recognition that compliance carbon markets play a central role in accelerating the decarbonization of our economies and in advancing the implementation of the Paris Agreement,” explained Maurício Lyrio, Secretary for Climate and Environment at Brazil’s Ministry of Foreign Affairs. “Our objective is to leverage compliance carbon markets while maintaining environmental integrity and ensuring a just transition for all,” he added.

The international commitment is being developed under the leadership of Brazil’s Ministry of Finance, represented by Deputy Executive Secretary Rafael Dubeux. “We have been discussing how to transition away from fossil fuels in a structured, orderly, and equitable manner. A regulated carbon market is one of the essential pathways to achieve this goal,” he stated.

Dubeux emphasized that the coalition will enable countries to collaborate in defining best practices for Monitoring, Reporting, and Verification (MRV), establishing common accounting standards, and ensuring the integrity of offset mechanisms. He reiterated that regulation of the sector is among the most effective means of driving decarbonization. “This is truly a historic moment to accelerate the global effort toward decarbonization, equity, and prosperity,” Dubeux concluded.

Expansion

During the meeting, representatives from several countries reaffirmed their support for the Open Coalition on Compliance Carbon Markets. The initiative now includes Brazil, China, the European Union, the United Kingdom, Canada, Chile, Germany, Mexico, Armenia, Zambia, France, Rwanda, Andorra, Guinea, New Zealand, Monaco, Singapore, and Norway.

The European Union’s Commissioner for Energy and Climate Action, Dan Jørgensen, expressed his support for the initiative and stated his intention to work in partnership with Brazil and other countries to ensure effective carbon pricing. “The use of high-quality credits must align with the standards and principles established under the Paris Agreement. The coalition can establish a benchmark to fully integrate relevant standards into final national targets and the design of domestic carbon markets,” he explained.

Norway formally joined the commitment, which is voluntary. The country’s Minister of Climate and Environment, Andreas Bjelland Eriksen, highlighted that Norway participates in the emissions trading system, the carbon market, and the Paris Agreement—all key instruments for reducing emissions. According to him, the coalition strengthens environmental integrity by sharing experiences, expanding knowledge on MRV and carbon accounting methodologies, and ensuring effective climate impact.