The Climate Vulnerable Forum and V20, together with the Voluntary Carbon Markets Integrity initiative, have released a handbook to help 77 climate-vulnerable countries navigate international carbon markets under Article 6 of the Paris Agreement. Published in Bangkok ahead of COP31, the guide targets an additional $20 billion per year in carbon finance by 2030, against an estimated $490 billion annual financing gap for these countries. The handbook includes eight modules covering project authorization, revenue allocation, benefit-sharing, environmental and social safeguards, private-sector participation, and legislative oversight. It cites case studies such as Ghana's cooperation with Switzerland, projected to generate eight million tonnes of credits and $300 million in carbon revenue, plus bilateral agreements signed by the Philippines with Japan and Singapore, and Bhutan's climate fund and carbon market platform. The guide is useful for government officials and investors looking for clearer host country rules. It also addresses a historic imbalance: 45 least-developed countries hosted only 1.5% of projects under the Kyoto Protocol's Clean Development Mechanism, so the practical test is whether this guidance leads to faster, fairer project approvals.
