High-Level Meeting of Open Coalition on Carbon Markets Held in Wuhan, China

On September 14, the High-Level Meeting of the Open Coalition on Carbon Markets convened in Wuhan, Hubei Province. The meeting brought together representatives from 14 countries and regions, including China, Brazil, the European Union, Germany, the United Kingdom, South Korea, Turkey, and Singapore, as well as 14 international organizations and institutions such as the World Bank and the International Emissions Trading Association (IETA).

Meeting venue

Building on the coalition's launch in May 2026, the meeting reviewed and adopted the Work Plan and the Secretariat Rules of Procedure, marking the coalition's entry into the implementation phase. Participants unanimously agreed that multilateral cooperation is the only path to global climate governance. All parties committed to deepening dialogue and collaboration, establishing high-quality carbon credit offsetting mechanisms, and progressively exploring the coordination, linkage, and mutual recognition of carbon market mechanisms, while welcoming more countries and institutions to join the coalition.

China is advancing efforts to build a more effective, dynamic, and globally influential carbon market, and stands ready to foster the development of and cooperation on carbon trading mechanisms across nations in an open and inclusive manner. China also expressed readiness to host specialized training workshops during the annual China Carbon Market Conference to jointly enhance carbon market development and management capabilities with coalition members and observers through mutual learning.

International participants stated that cooperation within the coalition fully respects the distinct national conditions and development stages of different economies, helps reduce the fragmentation of global carbon markets, and promotes climate investment and financing, noting that they look forward to strengthening coordination to deliver pragmatic results.

Jointly initiated by China, Brazil, and the European Union during the UN Climate Change Conference in Belém in November 2025, the coalition currently consists of 11 members and 18 observers, spanning economies and international organizations across the globe.