China and EU join Brazil’s plan to standardize carbon market

Brazil’s initiative to standardize carbon market rules has gained significant support. In Belém, the commitment received 11 signatures, including China and the European Union. This is one of the key economic agendas of Brazil’s presidency at COP30. Germany, Armenia, Canada, Chile, China, France, Mexico, the United Kingdom, the European Union, Zambia, and Brazil are the signatories of this initiative. Led by the Ministry of Finance, the effort aims to harmonize parameters globally. Having comparable rules and standards is considered essential for creating an effective carbon market with liquidity and transparency.