China will join a Brazil-led coalition to link carbon markets across major economies, one of the key environmental proposals set to be adopted at Cop30 in Belém on Friday.
Advertisement
The so-called Open Coalition for the Integration of Carbon Markets was created to align standards and make it easier for countries to trade carbon credits. Developed by Brazil’s Ministry of Finance, it is part of the government’s Ecological Transformation Plan, a broad strategy to combine economic growth with social inclusion and environmental protection.
The move, first reported by Bloomberg, has been independently confirmed by the Post.
Officials said the coalition would remain open to any country that wanted to join and could eventually become the foundation for a global carbon market. Besides China and the EU, Armenia, Canada, Chile, the United Kingdom and Zambia are also expected to take part in the initiative.
02:42
Brazil’s Lula opens Cop30 demanding courage and cash to save the planet
Brazil’s Lula opens Cop30 demanding courage and cash to save the planet
Finance Ministry officials described the project as a voluntary partnership among nations with regulated or emerging carbon pricing systems. The goal is to make systems compatible, increase liquidity and transparency and help members meet their Paris Agreement targets.
Advertisement
According to Bloomberg, Brazilian officials are positioning market integration as one of Cop30’s main potential legacies. Today, there are more than 40 carbon taxes and 35 emissions trading systems worldwide.