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   –  Countries with Crediting Mechanisms    –  Countries without a Crediting Mechanism    –   No Data

Carbon crediting mechanisms allow countries to offset emissions by earning credits for emission reduction projects, which can be traded or used to meet climate goals. Below is an overview of the countries with established carbon crediting mechanisms:

  • Countries with Carbon Crediting Mechanisms: Several countries have implemented carbon crediting systems to encourage emissions reductions, including:
    • Australia: Australian Carbon Credit Unit Scheme (ACCU) since 2012.
    • Canada: Canada Federal GHG Offset System introduced in 2022.
    • Chile: Chile Green Tax Emissions Offsetting Scheme beginning in 2024.
    • China: China GHG Voluntary Emission Reduction Program started in 2014.
    • Colombia: Colombia Crediting Mechanism since 2017.
    • Kazakhstan: Kazakhstan Crediting Mechanism established in 2013.
    • Portugal: Portuguese Voluntary Mechanism to be launched in 2024.
    • Saudi Arabia: Greenhouse Gas Crediting and Offsetting Mechanism (GCOM) starting in 2024.
    • Spain: Spain FES-CO2 Program since 2011.
    • UK: UK Woodland Carbon Code (2011) and Peatland Code (2015).
  • Countries without a Carbon Crediting Mechanism: Many countries, including Argentina, Brazil, Germany, India, USA, and others, currently do not have national carbon crediting mechanisms in place. These nations may rely on other policies or frameworks to manage their carbon emissions.

This summary highlights the global landscape of carbon crediting mechanisms, illustrating which countries have adopted specific frameworks to reduce emissions through credit-based systems.

Source: World Bank Group