Brazil Launches Global Coalition to Align Regulated Carbon Markets at COP30

Overview

• Leaders in Belém adopted the Declaration creating the Open Coalition on Compliance Carbon Markets under Brazil’s leadership.
• The European Union and China endorsed the move, with the United Kingdom, Canada, Chile, Germany, Mexico, Armenia, Zambia, and France also signing on.
• The initiative sets a platform to exchange practices on carbon pricing, monitoring, reporting and verification, carbon accounting, and potential use of high‑integrity offsets to uphold environmental integrity and equity.
• The declaration commits members to explore long‑term interoperability of national cap‑and‑trade systems rather than forcing a single global market.
• Operational details — including common pricing approaches, exemptions for less‑developed countries, and possible import tariffs for non‑members — will be taken up at an interministerial meeting on November 15 in Belém.