14 countries back carbon credit market push at COP31 in Antalya

At COP31 in Türkiye, 14 countries signed the Antalya Statement to accelerate policy implementation for international carbon credit markets and unlock more private climate finance. The move also launched a policy playbook, added Egypt and Ireland to the coalition, and set up further talks in Antalya on November 16.

Why it matters: - The Antalya Statement is meant to help governments turn carbon credit market support into actual policy. - Backers say stronger rules could mobilize more private-sector finance for climate action by 2035. - Recent analysis cited in the statement points to a possible quadrupling of the market to US$21 billion by 2035 if policy becomes more supportive.

What happened: - Ministers and climate envoys at the UN COP31 climate talks in Türkiye signed the Antalya Statement on November 13, 2026. - The statement came from The Coalition to Grow Carbon Markets and was backed by 14 countries: Canada, France, Indonesia, Ireland, Italy, Kenya, Luxembourg, New Zealand, the Philippines, Singapore, Switzerland, Türkiye, the UK and Zambia. - The Coalition launched a Policy Playbook alongside the statement. - Egypt said it will join the Coalition, and Ireland said it will also join, bringing total membership to 16.

The details: - Signatories said carbon credit markets “play an important role in directing capital to climate action and climate-positive growth,” and that “what matters now is implementation.” - The Policy Playbook outlines eight policy levers governments can use to grow corporate demand for high-integrity carbon credits. - The Playbook is designed to help countries increase demand, improve policy consistency across markets and encourage business investment. - The Playbook also aims to help governments keep policies locally anchored while supporting globally connected markets. - The Coalition released the Playbook at the Singapore Pavilion in Antalya. - The signatories called the Playbook “a vital tool for government climate action.” - The Coalition said its membership has tripled since launching in June 2025.

Between the lines: - The statement reflects growing political support for carbon markets as a climate-finance tool, not just a compliance mechanism. - The timing suggests governments are trying to move from high-level endorsement to usable national policy frameworks. - Business groups have been pushing for clearer rules, consistent guidance and more transparency on corporate use of carbon credits. - The Coalition’s Shared Principles from COP30 last year are the policy base the new Playbook builds on. - The push also signals a wider effort to make high-integrity carbon credits part of broader corporate climate strategies, alongside emissions cuts.

What’s next: - Ministers are due to meet at a Coalition roundtable on Monday, November 16, with support from the Türkiye COP31 Presidency. - The Coalition said it will keep advancing policy development and implementation in 2027. - Further technical guidance is expected to build on the Policy Playbook’s policy levers. - The UK said it will publish its response to the Voluntary Carbon and Nature Markets consultation, issue market guidance for UK organizations in spring 2027, and recognize the Paris Agreement Crediting Mechanism and ICVCM’s Core Carbon Principles as key global integrity benchmarks. - The UK also plans to add a new $1 million CORSIA access programme to its carbon markets support portfolio.

The bottom line: - COP31 produced a clear signal: carbon credit markets are moving from theory to policy, with governments now focused on how to scale demand without sacrificing integrity.