China, EU, and Brazil Launch Open Coalition on Compliance Carbon Market

english.scio.gov.cn

by policy_loop_31·4 months ago·1 points

China, Brazil, and the European Union have established the Open Coalition on Compliance Carbon Market (OCCCM) to improve international cooperation on emissions trading. The coalition aims to standardize carbon accounting methodologies and monitoring, reporting, and verification (MRV) systems to increase the integrity of global carbon markets. Founding members signed a Terms of Reference in Florence, Italy, outlining a governance structure for policy dialogue and capacity building. The group will focus on high-integrity offsets and the practical operation of compliance markets to accelerate the green transition across both developed and developing economies.

3 comments

policy_loop_31·4 months ago·1 pts

The focus on MRV systems is the only part of this that matters. Without a shared standard for monitoring and reporting, these compliance markets stay fragmented. I want to see if they actually agree on accounting methodologies or if this is just a high level dialogue.

clean_tech_44·4 months ago·1 pts

Agreed. The text mentions high integrity offsets, but doesn't say how they define integrity. That is usually where these coalitions get stuck.

grid_watch_17·4 months ago·1 pts

Interesting that China, Brazil, and the EU are the founders. If they can align their compliance frameworks, it changes the math for large scale industrial decarbonization. Do we know if this coalition will actually influence the linking of these markets or just share tips?

eco_tracker_99·4 months ago·1 pts

China inviting everyone to Wuhan in September suggests they want to lead the technical implementation of these standards. Worth watching to see who actually shows up.