FAO and the Climate Action Platform promote dialogue to inform on carbon markets

More than 250 participants attended the virtual meeting organized by the Climate Action Platform in Agriculture of Latin America and the Caribbean (PLACA): "National Policies and Strategies for Participation in Carbon Markets: challenges for the agricultural sector in the context of climate change," which took place on September 5.

The event, which brought together experts from international organizations, government representatives, and key stakeholders, provided insight into how these markets can contribute to agricultural decarbonization and climate resilience. It also analyzed the mechanisms and policies necessary to facilitate the effective participation of countries in the region.

PLACA is supported by the Food and Agriculture Organization of the United Nations (FAO), which serves as its secretariat.

"We discussed the opportunities and challenges presented by Article 6 of the Paris Agreement, which is closely related to the concept of carbon markets, as it establishes mechanisms that allow countries and other parties to exchange emission reductions, thus facilitating the creation and operation of these markets," said María Mercedes Proaño, Climate Finance Officer at the Food and Agriculture Organization of the United Nations (FAO).

One topic addressed was the current state of carbon markets in Latin America and the Caribbean, both mandatory and voluntary.

Several countries exchanged experiences and progress on carbon pricing instruments during the event. For example, Argentina detailed its National Strategy for the Use of Carbon Markets; Paraguay shared its progress towards carbon markets and Article 6, and Colombia described its current regulatory framework for carbon markets, with approaches adapted to their national realities.

Also, there was an exchange of ideas on the public policies and regulatory strategies needed for implementing emissions trading systems, with a focus on implementing an Emissions Training System in the region.

Another point discussed was the development of strategies and tools for countries to use carbon markets effectively and achieve their Nationally Determined Contributions (NDC).

"This workshop highlighted the need for governments in the region to advance in the creation of strong national regulatory frameworks to ensure environmental integrity and safeguards if they decide to enter carbon markets. Properly implementing these frameworks is essential for countries to meet their Nationally Determined Contributions, aligning their mitigation and adaptation efforts with the commitments made under the Paris Agreement," Proaño added.

With these discussions, PLACA reaffirms its commitment to continue promoting constructive dialogues in collaboration with the region's Ministries of Agriculture and Environment to share experiences and build collective strategies that strengthen climate action at the regional level.