The guidance will support countries in the development of carbon markets strategies, bringing together the expertise of leading international technical assistance partners. Alongside the document, an infographic has been developed to clarify and visualize how each organization’s efforts come together to support countries. 

Carbon markets can support emerging markets and developing economies to access finance for mitigation activities, sustainable development and climate positive growth. This will help to meet the $1.3 trillion climate finance target, which is vital for achieving global climate goals. 

The guidance, structured in seven themes, provides support for navigating key policy choices—from whether and how to authorize credits, to how credits can be used and what institutional systems are needed to support implementation. The guidance is the result of a unique collaboration among leading international institutions intended to reduce fragmentation of technical assistance for navigating carbon markets.  

The initiative is a response to calls from countries to reduce the fragmentation of technical assistance, and support the development of coherent and well-informed strategies for engaging in international carbon markets. This set of guidance documents was the result of a joint effort between: the Article 6 Implementation Partnership (A6IP), the Global Green Growth Institute (GGGI), the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), the Integrity Council for the Voluntary Carbon Market (ICVCM), the United Nations Development Programme (UNDP), the United Nations Framework Convention on Climate Change (UNFCCC), the Voluntary Carbon Markets Integrity Initiative (VCMI), and the World Bank.  

On how the guidance helps to streamline technical assistance, VCMI’s Technical Director, Ana Carolina Avzaradel Szklo, said: “Carbon markets can deliver significant benefits for the planet and for people, especially in emerging markets and developing economies, but ensuring impact requires countries to navigate a complex, evolving landscape. The plethora of capacity building initiatives designed to support countries in this endeavour has at times led to confusion rather than clarity. This document provides a critical starting point for country-led carbon markets strategies by bringing together the expertise and experience of organizations committed to working together to support countries to design, implement and participate in high-integrity carbon markets.” 

The guidance was launched at the World Bank’s annual Innovate4Climate event in Seville, with a workshop enabling discussion between partners and country representatives on the challenges of developing a carbon market strategy and opportunities to use carbon markets to raise the ambition of climate goals and optimize co-benefits. Mark Kenber, Executive Director of VCMI, moderated the discussion.  

VCMI’s Access Strategies Program is one of the critical capacity building initiatives that host countries and regions can engage with to support the development of carbon market strategies that unlock the environmental, social and economic benefits of carbon finance within national climate plans. VCMI has worked across the world, from Peru to Kenya to India, to support the development of the policies, capacity and infrastructure needed to create thriving carbon markets. This work helps to unlock finance needed for nature preservation, the clean energy transition, and climate resilient agriculture, among other priorities, in support of low-carbon sustainable development.  

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Guidance Note: Country Guidance for Navigating Carbon Markets

Infographic: A harmonized approach to technical assistance for navigating carbon markets

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