Malawi Launches Parliamentary Action on Carbon Markets at COP31
Malawi has launched a parliamentary initiative at COP31 to improve oversight and participation in global carbon markets. The government views carbon trading as a vital mechanism to secure climate finance and support the country's national climate adaptation goals.
Why it matters
This initiative highlights the growing role of legislative bodies in developing nations to ensure transparency and effectiveness in international climate finance.
Share Group photo after launch ANTALYA, Turkey — Malawi has launched a parliamentary initiative to strengthen legislative oversight and participation in carbon markets, with Natural Resources Minister Patricia Wiskes describing carbon trading as an important source of climate finance to support the country’s climate commitments, writes Tikondane Vega, MANA.
Speaking on Friday during the launch of Parliamentary Action on Carbon Markets, Article 6 and Climate Finance at the Malawi Pavilion at COP31, Wiskes said carbon markets were vital for mobilising resources and accelerating the implementation of Malawi’s Nationally Determined Contributions (NDCs).
She said Malawi viewed carbon trading not merely as a mechanism for generating and selling carbon credits, but also as an opportunity to secure additional financing for climate action and sustainable development.
The resources, she said, could support the implementation of the country’s NDC and National Adaptation Plan.
Also covering this story
One other newsroom covered this event. We read that version too.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in