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 and monitoring, reporting, and verification (MRV) systems to increase market integrity. Founding members and representatives from countries including Canada, Germany, and the UK met in Florence to define the coalition's governance and priority tasks. The group will focus on creating pragmatic, high-integrity offset mechanisms to support global climate governance.
