UNCTAD to launch carbon market network at COP31 as it pushes climate finance and trade agenda

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UNCTAD launches carbon market at COP31

Highlights

UNCTAD will launch the Global Carbon Market Network on 12 November at COP31 to mobilize capital for climate action and connect carbon markets, especially aiding developing countries.
UNCTAD-led discussions at COP31 focus on improving small business access to technology, finance, and markets while reducing investment risk and advancing green industrialization and adaptation.
UNCTAD aims to align sustainability standards and certification systems to boost transparency, ease compliance for SMEs, and expand access to sustainable supply chains in developing economies.

COP31 agenda centers on trade and climate finance

According to UNCTAD, the agency is using this year's UN climate summit to press for practical measures that help developing economies convert climate plans into productive investment, stronger industries and greater resilience. UNCTAD Acting Secretary-General Pedro Manuel Moreno says COP31 in Antalya offers an opportunity to align climate commitments with industrial strategy for countries that need support most.

UNCTAD says a key announcement will come on 12 November with the launch of a new Global Carbon Market Network. The initiative, convened and supported by the organization, will link carbon markets more closely and mobilize capital for climate action, particularly in developing countries, with UNCTAD serving as its secretariat.

A central part of the program examines how trade cooperation can speed the shift to sustainable production and expand participation in green, blue and circular value chains. Under the COP31 Climate Action Agenda, UNCTAD is bringing together diplomats, small-business representatives and international organizations to review progress and obstacles in using trade policy to support national climate plans.

Developing economies seek access, lower risk and fairer standards

Discussions at the summit are set to focus on improving access for small businesses to technology, skills, finance and international markets, while also strengthening coordination among trade and environment policymakers, financial institutions and the private sector. UNCTAD says other talks will explore how to cut investment risk and channel more financing into green industrialization and climate adaptation, especially in resilient infrastructure and sectors where cleaner production investment remains limited.

Sustainable supply chains are also high on the agenda, with attention on how standards can improve transparency and resilience without creating unnecessary costs for small producers and businesses. UNCTAD says better alignment among standards, certification systems and verification processes could reduce duplication and make it easier for small and medium-sized enterprises in developing countries to reach sustainable markets.

The organization is also contributing to a UN Oceans event on accelerating ocean and climate action, with a focus on finance, technical assistance and capacity-building for small island developing states and marine-dependent communities. More broadly, UNCTAD is advocating measures of climate progress that go beyond GDP, arguing that resilience, well-being and a just transition should be part of how policy outcomes are assessed.

In our earlier coverage of WTO warnings on lasting trade impacts from conflict and tariffs, we highlighted how wars in Ukraine and the Middle East are accelerating a rethink of supply chains and shipping routes as companies pursue resilience over cost. The report also noted forecasts of a sharp trade contraction in the Middle East and pointed to growing regional trade and AI-driven demand as partial offsets to wider disruption risks.

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