13:45 - 14:45

Private sector engagement with sustainable impact through the voluntary carbon market - highlights from carbon market champions in the Global South

Carbon markets can play an important role in providing private sector finance to projects that reduce GHG emissions and contribute to sustainable development. Governments and the private sector are currently progressing towards alignment with the carbon market rules and processes of the Paris Agreement. This is not always an easy endeavour, given the dynamic and controversial discussions about how to use carbon markets in the right way. Especially in the voluntary carbon market, the sustainable development co-benefits that come with well-designed mitigation projects have proven to be attractive to various stakeholders. Buyers acquire additional value they can report on, sellers achieve premium prices, local communities benefit in tangible ways, and host country governments make progress towards their development objectives. In view of this opportunity to make a holistic impact, it is encouraging to see progress towards the operationalisation of carbon markets under the Paris Agreement with strong regard to the sustainable development agenda.

The session highlighted the progress of national policy frameworks for carbon markets from some frontrunner countries. Experts explained and discussed how corporate investors benefit from a strengthened carbon market infrastructure, and high-level government representatives will guide the focus to key sectors for voluntary carbon market investments.  

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Speakers:

• Mr. Sum Thy, Director of the Climate Change Department of the Ministry of Environment and the Climate Change Alliance, Cambodia 

• Ms. Pearl Nkusi, Rwanda Environment Management Authority  

• Mr. Peter Renner, Foundation Development and Climate Alliance, Germany  

• Ms. Celine Strufe, F20 Foundation, Germany  

• Mr. Glenn Kwabena Gyimah, Jospong Green Transition Office, Ghana