The Voluntary Carbon Markets Integrity Initiative (VCMI) announced today a new toolkit, aimed at supporting governments in emerging markets and developing economies (EMDEs) to strategically access carbon markets and unlock vital climate finance.
The Carbon Markets Access Toolkit, developed in partnership with Climate Focus and the UN Development Program (UNDP), provides step-by-step guidance for engaging with voluntary and regulated carbon markets, including those under Article 6 of the Paris Agreement.
Developing countries face an annual $2.7 trillion funding need to achieve climate and nature goals by 2030, with $1.3 trillion expected from international sources, the World Resources Institute (WRI) has said.
Yet, in 2022, only 15% of global climate finance reached EMDEs (excluding China).
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“Emerging markets and developing economies urgently need finance to support climate-positive growth,” Mark Kenber, Executive Director of VCMI, said.
Carbon markets can help close the gap, and VCMI believes that this toolkit provides a clear and comprehensive roadmap for governments to navigate this opportunity.
The World Bank estimates that carbon markets could cut the cost of implementing national climate plans by half.
In Africa alone, voluntary carbon markets (VCM) could be worth $1.5 trillion by 2050.
The toolkit addresses critical decisions such as whether and when to engage with carbon markets, how to integrate them into national strategies, and how to ensure project quality and community benefits.
In the words of UNDP’s Leticia Guimarães, “informed policymakers are better positioned to make strategic decisions on how their countries can engage with carbon markets to unlock private finance.”
The toolkit is already being used across 20 national projects in countries including Benin, Brazil, India, Kenya, Mexico, and Peru.
Available in four languages, it is part of VCMI’s broader effort to empower governments to drive climate action and sustainable development through high-integrity carbon finance.
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