China, Brazil, EU Launch Carbon Market Coalition
Analysis based on 6 articles · First reported May 08, 2026 · Last updated May 09, 2026
The establishment of the Open Coalition on Compliance Carbon Market (OCCCM) by China, Brazil, and the European Union is expected to foster international cooperation on carbon markets, potentially leading to more standardized and effective emissions trading systems globally. This development could positively impact industries involved in green and low-carbon transitions, as well as those participating in carbon markets, by providing clearer frameworks and increased market liquidity.
China, Brazil, and the European Union have jointly launched the Open Coalition on Compliance Carbon Market (OCCCM) at its first high-level meeting in Florence, Italy, on May 7, 2026. The coalition aims to be an open, inclusive, pragmatic, and efficient platform for international cooperation on carbon markets and global climate governance. Li Gao, vice minister of China's Ministry of Ecology and Environment, emphasized China's commitment to accelerating its carbon market construction and sharing its green development practices. Representatives from other nations, including Germany, New Zealand, Canada, the United Kingdom, Turkey, and France, also attended the meeting. The founding members signed the Terms of Reference for the Open Coalition on Compliance Carbon Market (OCCCM), outlining its objectives, scope of work, governance structure, and decision-making framework. The coalition will focus on strengthening policy dialogue, experience sharing, and capacity building among members, with a particular emphasis on monitoring, reporting, and verification (MRV) systems, carbon accounting methodologies, and high-integrity offsets.
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