Qatar’s Global Carbon Council joins international carbon market network
<p>DOHA: The Global Carbon Council (GCC), the first independent carbon crediting standard established in the Global South, headquartered in Qatar and internationally recognised under UN ICAO’s CORSIA scheme and ICVCM, has joined a global coalition of leading financial institutions, exchanges and carbon market organisations as a founding member of the Global Carbon Market Network, officially…
Doha, Qatar - The Global Carbon Council (GCC), an independent carbon crediting standard rooted in the Global South and headquartered in Qatar, has become the inaugural member of the Global Carbon Market Network. This network was officially launched at the United Nations Climate Change Conference (COP31) in Antalya, Turkey.
The GCC, recognized under the UN ICAO's CORSIA scheme and ICVCM, joins a coalition of prominent financial institutions, exchanges, and carbon market organizations. This alliance was established to enhance market connections, improve transparency, and boost investor confidence in carbon markets.
The launch took place at the Arab Climate Pavilion, co-hosted by the GCC and the League of Arab States within the COP31 Blue Zone. The event gathered hundreds of participants, both in person and virtually, comprising climate experts, government representatives, financial institutions, carbon market organizations, standard-setting bodies, and other stakeholders.
Keynote speakers at the launch included Pedro Manuel Moreno, Acting Secretary-General of UN Trade and Development (UNCTAD); Nan Li Collins, Chair of the UN Sustainable Stock Exchanges Initiative and Lead of the World Investment Forum; Eng Salim bin Nasser Al Aufi, Minister of Energy and Minerals of the Sultanate of Oman; Sammy Sau Kuen Yeung, Commissioner for Climate Change of Hong Kong SAR (China); and Dr. Yousef Alhorr, Founding Chairman of the GCC.
The Global Carbon Market Network aims to connect existing carbon markets, improve transparency, and facilitate climate finance, particularly for developing countries. It addresses market fragmentation caused by diverse regulatory frameworks, standards, registries, and trading systems. Instead of creating a new market or competing standard, the network seeks to link existing voluntary and compliance markets, promote consistent market practices, and streamline carbon transactions.
Dr. Yousef Alhorr, Founding Chairman of the GCC, emphasized the importance of cooperation, market integrity, and equitable access to climate finance. He stressed that the future of carbon markets will depend on how effectively these markets are connected, how trust is built, and how carbon transactions translate into measurable climate impact.
The launch of the Global Carbon Market Network represents a crucial step towards overcoming fragmentation, strengthening international cooperation, and unlocking climate finance for developing nations.
Written by urgent.news from The Peninsula Qatar's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
