Qatar's Global Carbon Council joins UNCTAD-led Global Carbon Market Network at COP31

Qatar's Global Carbon Council (GCC), a carbon crediting standard based in Doha, has joined the newly launched Global Carbon Market Network as a founding member. The network was announced at COP31 in Antalya, Turkiye, and is convened by UN Trade and Development (UNCTAD). Its stated goal is to connect existing voluntary and compliance carbon markets rather than create a new standard or exchange. The network brings together institutions from Africa, Asia, the Middle East, Europe, and Latin America, including participants from Saudi Arabia, China, Singapore, Indonesia, South Africa, Nigeria, and the UK. Initial work will focus on registry and platform interoperability, consistent market practices, capacity building, and a global synthesis report on carbon markets. The aim is to lower transaction costs for project developers and improve climate finance flows toward mitigation projects in developing countries. The launch is significant because carbon market fragmentation has long been a barrier to scaling investment. Whether the network can move from a joint statement to concrete technical alignment between different registries and trading systems will determine its real impact on emissions reductions and market trust.