GGGI started activities related to carbon pricing in 2019 with the aim of empowering our Member States and Partner Countries to access international carbon finance, enabling climate actions that go beyond their existing commitments under the Paris Agreement.

GGGI’s carbon pricing activities revolve around these five key pillars:

1. Supporting Governance Frameworks & Institution Strengthening

2. Designing & Originating Mitigation Activities

3. Stakeholder Mapping, Market Understanding & Awareness Raising

4. Facilitating Carbon Transaction & Buyer-Seller Matchmaking

5. Organizing Global Knowledge Sharing & Exchange

Positioned at the forefront of Article 6 implementation, GGGI’s Carbon Finance Department supports countries to be ready to access carbon finance and then feeds lessons learned and best practice back to the global community to promote the development of international carbon markets. By fostering collaboration among governments, the private sector, and key stakeholders, it advances carbon finance as a critical tool for achieving higher climate ambition and driving sustainable development.

GGGI began its activities related to carbon pricing and the implementation of cooperative approaches aligned with Article 6 of the Paris Agreement in 2019. As of 2025, GGGI Carbon Finance Department have been actively engaged in a total of over 23 countries, providing direct support for participating in international carbon trading under Article 6.

The first three major carbon pricing programs led by GGGI were: the Mobilizing Article 6 Trading Structure (MATS) program, the Designing Article 6 Policy Approaches (DAPA) program, and the Supporting Preparedness for Article 6 Cooperation (SPAR6C) program. Through these programs, GGGI supported the development of Article 6 operations manuals, governance frameworks, and policies, while developing stakeholder capacity and identifying potential mitigation activities to serve as the basis for Article 6 transactions.

To build on these efforts, GGGI launched the Carbon Transaction Facility (CTF) in 2024 to scale up its support for Article 6 implementation.

The Carbon Transaction Facility (CTF)

• Donor: New Zealand, Ministry of Foreign Affairs and Trade ; Norway, Ministry of Climate and Environment ; Sweden, Swedish Energy Agency

The Carbon Transaction Facility is GGGI’s primary vehicle for accelerating Article 6 implementation. The CTF structure has two main pillars: the Article 6 Readiness Facility on one side, and a number of multiple ITMO-purchasing carbon funds on the other. To learn more about GGGI’s carbon pricing activities, visit the CTF’s webpage.

Supporting Preparedness for Article 6 Cooperation (SPAR6C)

• Donor: Germany, Federal Ministry for Economic Affairs and Climate Action
• Project Period: October 2022 ~ August 2027
• Project Funding: 20,000,000 EUR
• Programmatic Solutions: Green Investment / Climate Action / Carbon Pricin

SPAR6C is a 5-year program aiming to promote the development of high integrity international carbon markets by providing technical assistance and capacity building for government and private sector stakeholders, and developing a pipeline of projects for potential Article 6 transactions. Globally, implementation is led GGGI, with national activities in Colombia, Pakistan, Thailand and Zambia led or supported by partners (see below).

Article 6 Blue Carbon with Republic of Korea’s Ministry of Ocean and Fisheries

• Donor: Ministry of Ocean and Fisheries, Republic of Korea
• Funding: 300,000 USD / annually until 2026
• Project Period: August, 2024 ~ December, 2026
• Programmatic Solutions: Carbon Pricing, Climate Action, Green Investment, Coastal Resilience and Blue Economy

This project aims to assess the readiness status of GGGI Member States and Partner Countries in blue carbon activities under Article 6 of the Paris Agreement, and establish potential collaboration with the Republic of Korea. Blue carbon activities represent new opportunities to reduce greenhouse gas emissions while enhancing coastal resilience.