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COP31: UNCTAD Launches Global Carbon Market Network To Unlock Climate Finance

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COP31: UNCTAD Launches Global Carbon Market Network To Unlock Climate Finance

UN Trade and Development (UNCTAD) is preparing to launch the Global Carbon Market Network at COP31, seeking to strengthen carbon finance and attract investment into climate projects across developing countries as international carbon trading faces persistent challenges over transparency, standards and credit quality.

The initiative, scheduled to debut on November 12 in Antalya, Türkiye, will bring together carbon exchanges, financial institutions and other market participants to improve connections between carbon markets and capital providers.

Rather than establishing another trading platform, the network will focus on making existing systems work together more effectively, facilitating international transactions and building confidence among investors.

Differences in verification requirements, registries and trading frameworks have complicated the development of international carbon markets. Concerns over unreliable credits and double counting have also discouraged potential buyers and investors.

UNCTAD plans to address these obstacles through cooperation between market institutions, technical exchanges and initiatives aimed at improving the measurement and verification of emissions reductions.

The network will also explore digital technologies that could improve transparency and reduce transaction costs.

Its work is expected to support Article 6 of the Paris Agreement, which provides a framework for international cooperation through carbon credits and emissions reductions transferred between countries.

The initiative comes as carbon pricing continues to expand globally. According to the World Bank’s 2026 State and Trends of Carbon Pricing report, carbon pricing mechanisms covered nearly 30% of global greenhouse gas emissions and generated more than $107 billion in government revenue during 2025.

Developing economies could benefit from stronger connections between carbon markets, particularly as many carbon credit projects originate in these countries while buyers are frequently based in wealthier economies.


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