BEGIN:VCALENDAR VERSION:2.0 PRODID:unctad.org BEGIN:VEVENT UID:6a8eff6a7e02d DTSTART:20250214T120000Z SEQUENCE:0 TRANSP:OPAQUE DTEND:20250214T140000Z LOCATION:Online\, SUMMARY:Webinar on leveraging carbon markets for development CLASS:PUBLIC DESCRIPTION:African countries and particularly least developed countries (L DCs) are among the smallest emitters of greenhouse gases (GHGs) globally\, yet they have committed significantly to the global effort to combat clim ate change. Through the ambitious targets outlined in their nationally det ermined contributions (NDCs)\, these nations actively pursue adaptation\, mitigation and sustainable development. While LDCs face numerous challenge s in addressing climate change\, carbon markets present an opportunity to mobilize some of the necessary financial resources and support for these e fforts.Carbon markets have the potential to offer LDCs a means to integrat e climate action into their broader economic strategies\, provided that ma rkets work properly and that LDCs engage with them through a pro-active st ance. By participating in carbon trading on their own terms\, these countr ies can balance their environmental goals with economic growth\, potential ly driving green structural transformation. However\, carbon markets have not unlocked substantial financial resources for LDCs compared to other ex ternal finance flows such as remittances\, official development assistance \, and foreign direct investment. In order for LDCs to fully benefit from carbon markets\, several institutional and technical capacities must be es tablished. In addition\, they must navigate the risks and challenges assoc iated with carbon market participation.The Least Developed Countries Repor t 2024: Leveraging carbon markets for developmentUnited Nations Trade and Development (UNCTAD)’s LDC Report 2024 explores how carbon markets can b ridge gaps between economic growth and climate action in LDCs\, and their potential to mobilize capital for sustainable development.LDCs are active in existing carbon markets and are among the early movers in emerging carb on trading arrangements under Article 6 of the Paris Agreement. This inclu des both the cooperative approaches under Article 6.2 and the centralized crediting mechanism under Article 6.4.Carbon market activities are highly concentrated within a few LDCs. As of May 2024\, the six largest LDC host countries—Bangladesh\, Cambodia\, the Democratic Republic of Congo\, Mal awi\, Uganda\, and Zambia—accounted for 75% of all carbon credits issued in the voluntary carbon market from LDC-hosted projects.LDCs face several challenges to participating in carbon markets. These include the lack of necessary infrastructure\, technology\, and institutional capacity to effe ctively participate in carbon markets and secure sustainable development c o-benefits\, as well as weak domestic regulatory institutions for carbon m arkets. Nonetheless\, there exist opportunities that LDCs can leverage for their development\, such as the existence of significant unused potential for land-based GHG mitigation\, primarily through forest protection and a gricultural practices\; and developing renewable energy generation and dis tribution in LDCs.To leverage carbon markets\, LDCs should strive to maxim ize alignment between carbon markets and development goals through adoptin g a proactive and strategic stance to carbon market participation\; and ca refully balancing opportunities and trade-offs of participating in carbon markets.ObjectiveThe Africa Union Commission (AUC) and UNCTAD are co-organ izing this side event to bring together different stakeholders to discuss the implications of carbon markets on LDCs and African countries and how t hey can leverage carbon markets for their sustainable development. The obj ective of the event is to provide policymakers\, and development practitio ners with insights into the current state and future potential of carbon m arkets in LDCs. It aims to discuss best practices\, case studies\, and pol icy recommendations that can help LDCs effectively engage in international carbon trading while addressing challenges and ensuring alignment with th eir broader development goals.Target participantsThe event will target par ticipants from LDCs with an interest in carbon markets and environmental p olicy on the continent more broadly. Target participants include policymak ers including ministers\, ambassadors and international organizations\, de velopment partners\, academia\, industry leaders\, and youth.<\;p>\;Af rican countries and particularly least developed countries (LDCs) are amon g the smallest emitters of greenhouse gases (GHGs) globally\, yet they hav e committed significantly to the global effort to combat climate change. T hrough the ambitious targets outlined in their nationally determined contr ibutions (NDCs)\, these nations actively pursue adaptation\, mitigation an d sustainable development. While LDCs face numerous challenges in addressi ng climate change\, carbon markets present an opportunity to mobilize some of the necessary financial resources and support for these efforts.<\;/ p>\;<\;p>\;Carbon markets have the potential to offer LDCs a means t o integrate climate action into their broader economic strategies\, provid ed that markets work properly and that LDCs engage with them through a pro -active stance. By participating in carbon trading on their own terms\, th ese countries can balance their environmental goals with economic growth\, potentially driving green structural transformation. However\, carbon mar kets have not unlocked substantial financial resources for LDCs compared t o other external finance flows such as remittances\, official development assistance\, and foreign direct investment. In order for LDCs to fully ben efit from carbon markets\, several institutional and technical capacities must be established. In addition\, they must navigate the risks and challe nges associated with carbon market participation.<\;/p>\;<\;h4>\;& lt\;strong>\;The Least Developed Countries Report 2024: Leveraging carbo n markets for development<\;/strong>\;<\;/h4>\;<\;p>\;United N ations Trade and Development (UNCTAD)’s LDC Report 2024 explores how car bon markets can bridge gaps between economic growth and climate action in LDCs\, and their potential to mobilize capital for sustainable development .<\;/p>\;<\;p>\;LDCs are active in existing carbon markets and are among the early movers in emerging carbon trading arrangements under Arti cle 6 of the Paris Agreement. This includes both the cooperative approache s under Article 6.2 and the centralized crediting mechanism under Article 6.4.<\;/p>\;<\;p>\;Carbon market activities are highly concentrate d within a few LDCs. As of May 2024\, the six largest LDC host countries —Bangladesh\, Cambodia\, the Democratic Republic of Congo\, Malawi\, Uga nda\, and Zambia—accounted for 75% of all carbon credits issued in the v oluntary carbon market from LDC-hosted projects.<\;/p>\;<\;p>\;LDC s face several challenges to participating in carbon markets. These includ e the lack of necessary infrastructure\, technology\, and institutional ca pacity to effectively participate in carbon markets and secure sustainable development co-benefits\, as well as weak domestic regulatory institution s for carbon markets. Nonetheless\, there exist opportunities that LDCs ca n leverage for their development\, such as the existence of significant un used potential for land-based GHG mitigation\, primarily through forest pr otection and agricultural practices\; and developing renewable energy gene ration and distribution in LDCs.<\;/p>\;<\;p>\;To leverage carbon markets\, LDCs should strive to maximize alignment between carbon markets and development goals through adopting a proactive and strategic stance to carbon market participation\; and carefully balancing opportunities and t rade-offs of participating in carbon markets.<\;/p>\;<\;h4>\;<\; strong>\;Objective<\;/strong>\;<\;/h4>\;<\;p>\;The Africa Un ion Commission (AUC) and UNCTAD are co-organizing this side event to bring together different stakeholders to discuss the implications of carbon mar kets on LDCs and African countries and how they can leverage carbon market s for their sustainable development. The objective of the event is to prov ide policymakers\, and development practitioners with insights into the cu rrent state and future potential of carbon markets in LDCs. It aims to dis cuss best practices\, case studies\, and policy recommendations that can h elp LDCs effectively engage in international carbon trading while addressi ng challenges and ensuring alignment with their broader development goals. <\;/p>\;<\;h4>\;<\;strong>\;Target participants<\;/strong> \;<\;/h4>\;<\;p>\;The event will target participants from LDCs wit h an interest in carbon markets and environmental policy on the continent more broadly. Target participants include policymakers including ministers \, ambassadors and international organizations\, development partners\, ac ademia\, industry leaders\, and youth.<\;/p>\;\n\nView meeting on unct ad.org\nhttps://unctad.org/meeting/webinar-leveraging-carbon-markets-devel opment DTSTAMP:20260826T145954Z END:VEVENT END:VCALENDAR