Ministerial declaration on carbon markets
At the Paris climate change negotiations (COP 21, 2015), New Zealand led a Ministerial Declaration on Carbon Markets that has now been endorsed by 21 countries.
The declaration sends a clear signal that cooperation through international carbon markets, has an important role in allowing for higher ambition by Parties to the Paris Agreement. It states that interested countries will work together to ensure the development of standards and guidelines for using market mechanisms. The standards and guidelines will ensure environmental integrity and avoid any double-counting or double-claiming of emissions reduction units. Clear standards and guidelines can give countries and investors more confidence that carbon markets will be robust in future years.
Following the Paris climate change negotiations officials from 'declaration countries' have worked to progress the development of standards and guidelines to ensure environmental integrity.
Any country wanting to support the Declaration is welcome to contact the New Zealand Ministry for the Environment at environmentalintegrity@mfe.govt.nz