The United Nations Climate Conference 2025 COP30 in Belém, Brazil became the birthplace of a new global alliance. President Luiz Inácio Lula da Silva stood alongside Silvia and Carl XVI Gustaf of Sweden to announce the Open Coalition on Compliance Carbon Markets.
By the 15th of November, eighteen countries had joined the coalition. The European Union and China joined Brazil as members along with the UK, Canada, Chile, Mexico, Armenia, Zambia, Rwanda, Andorra, Guinea, New Zealand, Monaco, Singapore, and Norway.
A group of academics around MIT proposed a specific financial structure for this alliance. Their report suggests a carbon price floor of US$50 per tonne of CO2 equivalent for all Climate Coalition members.
Research published in Nature offers critical data on the potential impact of this initiative. The study indicates the coalition can close the emissions gap between current trajectories and Paris Agreement goals.
Seven member countries account for more than two-thirds of U.S. goods exports. On the 7th of January, the Council of the European Union is expected to begin discussion about the first step of the non-binding instrument procedure.