Draft Proposal for a Unified Carbon Market
On Friday November 7 2025, as COP30 launched, host country Brazil announced a new Open Coalition on Compliance Carbon Markets, with the potential to unify multiple carbon compliance markets. To date, Brazil, China, the European Union, United Kingdom, Canada, Chile, Germany, Mexico, Armenia, Zambia, France, and Rwanda have joined the Coalition.
The Open Coalition will serve as a platform to encourage learning and promote global collaboration in the development and expansion of carbon compliance markets. It aims to enable the widespread coverage and alignment of these markets in order to accelerate their use as a key tool in addressing climate change.
The Draft Proposal for a Unified Carbon Market is aimed to support this agenda. This report was produced by the Carbon Markets Subcommittee, which forms part of the Ad-hoc Committee of Economists convened by COP30 President Corrêa do Lago, and chaired by Professor José Scheinkman.
