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As the world confronts intertwined climate and finance crises while seeking to advance on the Sustainable Development Goals (SDGs), carbon markets are increasingly seen as key drivers of climate ambition and capital flow.
They enable countries to trade carbon credits – permits to offset a specific amount of emissions – allowing sellers to earn revenue and contribute to climate action.
The least developed countries (LDCs) are already engaged in carbon markets and among the early movers in emerging trading mechanisms under Article 6 of the Paris Agreement.
The Least Developed Countries Report 2024 examines how these markets could bridge gaps between economic growth and climate action in LDCs and mobilize capital for sustainable development.
It makes clear that while carbon markets offer promise, they are not a substitute for official development assistance or climate finance. Instead, they serve as one of many tools to support LDCs’ green structural transformations and global emissions goals.
Using data-driven analysis and case studies, the report provides a roadmap for LDCs and their development partners to unlock the potential of carbon markets for sustainable growth.
Full report: https://unctad.org/ldc2024
Production date: 04 November 2024
Creator: UNCTAD
Subject topical: ECONOMICS
Corporate name: UN TRADE AND DEVELOPMENT – UNCTAD
THE LEAST DEVELOPED COUNTRIES REPORT 2024 – Leveraging carbon markets for development
UN Trade and Development (UNCTAD) launched today the Least Developed Countries Report 2024 exploring how carbon markets can connect economic growth with climate action. By linking these goals, carbon markets offer a pathway to mobilize funds for sustainable development in the world’s most vulnerable economies.
DESCRIPTION
STORY: UNCTAD / Trade and Development Report
TRT: 03:09
SOURCE: UNCTAD
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS
WEBSITE: https://unctad.org/ldc2024
DATELINE: 04 NOVEMBER 2024, GENEVA, SWITZERLAND
SHOTLIST
1. Wide shot, exterior, Palais de Nations
2. Med shot, press room
3. SOUNDBITE (English) Rebeca Grynspan, UN Trade and Development Secretary-General : « Of the 20 countries that are most vulnerable to climate change, according to different studies, 17 are least developed countries. »
4. Med shot, speaker on screen, journalist, photographer
5. SOUNDBITE (English) Rebeca Grynspan, UN Trade and Development Secretary-General : « Financial gaps in LDCs are widening, and the investment deficit in these countries keep s getting worse. »
6. Med shot, press room
7. SOUNDBITE (English) Rebeca Grynspan, UN Trade and Development Secretary-General: « In short, carbon markets seek to solve a concrete economic problem: how to assign a price to something of high value to the planet but low value in the market. »
8. Med shot, journalists
9. SOUNDBITE (English) Rebeca Grynspan, UN Trade and Development Secretary-General: “As we approach COP29 in Baku next week, with a primary focus on climate finance, this report serves as a wake-up call on carbon markets.”
10. Med shot, journalist
11. SOUNDBITE (English) Rebeca Grynspan, UN Trade and Development Secretary-General: « LDCs play a minimal role in global greenhouse gas emissions, contributing less than 4% of the total. Yet, as mentioned, they face some of the most severe impacts of climate change. There is significant untapped potential in LDCs, with ample opportunities to create carbon credits through projects in forestry, agriculture, and renewable energy. »
12. Med shot, control room
11. SOUNDBITE (English) Rebeca Grynspan, UN Trade and Development Secretary-General: « Unfortunately, global carbon markets are currently divided and unclear. Carbon markets are fragmented due to a multiplicity of regulatory frameworks, standards and institutions, leading to a wide variation in carbon prices across different market segments. »
13. Med shot, journalist
14. SOUNDBITE (English) Rebeca Grynspan, UN Trade and Development Secretary-General: « A crucial factor for LDCs is establishing a viable carbon price, and the price proposed by UNCTAD’s study is at least $100 per tonne. However, the current price stands at just $10 per tonne. »
15. Med shot, journalists
16. SOUNDBITE (English) Rebeca Grynspan, UN Trade and Development Secretary-General: « We need a stronger push for harmonization across different standards and regulations. LDCs cannot—and should not— be forced to navigate a spaghetti bowl of climate regulations. »
17. Various shots
Presentation of the Least Developed Countries Report 2024: Leveraging Carbon Markets for Development
Speakers:
- Rebeca Grynspan, Secretary General of UN Trade and Development
- Rolf Traeger, UN Trade and Development, Chief, LDC Section Policy Analysis and Research Branch
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