Zambia joins global Coalition on Growing Carbon markets

The Zambian government has announced its full endorsement and membership in the Coalition on Growing Carbon Markets (CGCM), underscoring its commitment to mobilizing climate finance through high-integrity carbon trading.

Minister of Green Economy and Environment, Mike Mposha, said Zambia viewed the carbon market as a pivotal catalyst for driving green growth and achieving the country’s Nationally Determined Contribution (NDC) targets.

Mposha made the announcement during a high-level event at the Singapore Pavilion on the sidelines of the COP30 Conference in Belém, Brazil.

“Zambia is proud to endorse the Shared Principles for High-Integrity Carbon Credit Use and to join this progressive Coalition,” the Minister stated.

He said Zambia believed that a well-functioning carbon market contributed significantly to raising global climate ambition and provides an important source of innovative financing to spur sustainable economic development.

The Minister highlighted the country’s recent adoption of the National Carbon Market Framework, which has now been translated into comprehensive legislation and regulations.

“The enabling policy environment provides a predictable and transparent process, positioning the country to attract private investment into high-impact mitigation projects that benefit both people and the planet,” Mposha said.

He emphasized the importance of trust and transparency in the carbon market, noting that Zambia — which implements both Article 6 Cooperative Approaches and Voluntary Carbon Market frameworks — shares the Coalition’s vision of strengthening global carbon market integrity.

“The synergies between our philosophy of the carbon market and the principles of this Coalition are clear. Our bilateral agreements with like-minded countries have also enhanced our credibility in the market as a trusted partner,” Mposha added.

The Minister urged more countries to join the Coalition, expressing confidence in its success under the leadership of Co-Chair nations such as Singapore, Kenya, and the United Kingdom.

The Coalition on Growing Carbon Markets (CGCM) includes member countries such as Kenya, Singapore, the United Kingdom, France, Panama, Canada, Luxembourg, New Zealand, Peru, Switzerland, and its newest member — Zambia.

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