China's role in global carbon markets and the new Open Coalition on Compliance Carbon Markets

An opinion piece from People's Daily Online discusses the launch of the Open Coalition on Compliance Carbon Markets, initiated by Brazil, China, and the European Union during COP30 in Belem. The coalition aims to improve carbon market rules, emissions accounting, and market integrity to attract investment and support the global low-carbon transition. China is highlighted as a key player with the world's largest carbon market by emissions coverage, and its experience is seen as a reference for developing countries like Brazil, which plans to start its own emissions trading system in 2027. The article frames carbon markets as a tool that can reconcile economic development with environmental goals, directing investment into clean energy and low-carbon technologies. Brazil sees its upcoming carbon market as a driver for economic transformation, leveraging renewable energy and forest carbon sinks. The coalition's focus on transparency and comparability between markets could help unlock climate finance and green trade. For readers tracking carbon market design and international cooperation, this piece outlines the political backing and timeline for a new multilateral effort that may influence how compliance markets link up in the future.