China, Türkiye and Ethiopia launched a joint initiative at COP31 in Antalya to strengthen international cooperation on carbon crediting markets. The proposal, announced at the China Pavilion on Nov. 11, focuses on fairness, inclusiveness and voluntary participation. It calls on governments and intergovernmental bodies to improve governance for high-integrity carbon credits, encourage cooperation between crediting mechanisms, and support responsible use of credits to build effective demand. The initiative also asks for better information sharing and market infrastructure interconnectivity. Officials from Türkiye and Ethiopia framed it as a South-South platform for developing countries facing financial and technical constraints in building carbon markets. Brazil welcomed the effort, noting that linking voluntary and compliance markets matters for corporate emissions reductions.
