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Zambia has joined an international push to mobilise private investment for climate action after signing the Antalya Statement on Mobilising Private Finance for Climate Action at COP31 in Antalya, Türkiye.
The country also participated in the launch of the Policy Playbook on High-Integrity Carbon Credits, which seeks to help governments translate shared commitments on carbon markets into practical policy measures.
Minister of Green Economy and Environment, Gilbert Siame, signed the statement during an event titled Mobilising Finance for Climate Action: Policies to Unlock Demand for High-Integrity Carbon Credits, held at the Singapore Pavilion on Thursday.
Siame said the Antalya Statement and Policy Playbook built on the adoption of the Shared Principles for Growing High-Integrity Use of Carbon Credits at COP30, marking important milestones in efforts to strengthen carbon markets.
He stressed the urgency of accelerating climate action, saying carbon credit markets had an important role to play in unlocking the financing needed to respond to the climate crisis.
“Zambia is proud to sign the Antalya Statement on Mobilising Private Finance for Climate Action,” Siame said.
He said governments needed to take the lead in building confidence and creating an enabling environment for corporate investment in carbon markets.
The Coalition to Grow Carbon Markets, he added, demonstrated how groups of committed governments could accelerate climate action alongside multilateral climate negotiations.
“Government leadership to unlock the potential of carbon credit markets is needed now more than ever, and COP31 is the moment to drive change,” Siame said.
He described the Policy Playbook as a critical bridge between shared policy commitments and implementation, helping countries translate the principles into practical measures to unlock the potential of carbon credits.
Siame said the guidance would support the development of thriving carbon markets capable of contributing to the objectives of the Paris Agreement.
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He noted that Zambia was already taking steps in this direction through the Green Economy and Climate Change Act and the Carbon Market Regulations.
“These Regulations have built a clear and predictable legal framework, which has provided a conducive environment for private sector investment and we determined to keep improving our business environment,” he said.
Siame said the Playbook went beyond previous resources by outlining how countries could implement carbon market policies within their respective national contexts.
“Effective policy for carbon credit markets must be locally anchored to domestic objectives, while also contributing to globally connected markets,” he said.
He said international cooperation was essential to promoting consistency in national approaches and mobilising climate finance more quickly to support climate-positive growth.
Siame urged more countries to join the Coalition and help harness the potential of carbon credit markets to accelerate decarbonisation and create new economic opportunities.
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