Call to Action on Paris-Aligned Carbon Markets

Supported by 31 countries, this coalition aims to make progress in three main areas:

• Expanding and deepening domestic carbon pricing instruments
• Fully implementing the international compliance market rulebook
• Ensuring the integrity of voluntary carbon markets

The initiative was launched at the Summit for a New Global Financing Pact and featured prominently during COP28, where the European Commission hosted a high-level event to advance global cooperation on the topic.

Bloomberg, the UN Special Envoy Mark Carney and the 4P Secretariat convened a consultation in May 2024 to explore solutions to unlock the potential of integrated, high-integrity carbon markets. Looking ahead, the coalition plans to establish an expert task force and contribute concrete proposals to the 2025 Fourth International Conference on Financing for Development (FfD-4), reinforcing the role of carbon markets as vital tools in financing the climate transition.