The EU and China have expressed interest in joining the agreement, which may make it one of the most significant outcomes of the November summit, said people familiar with the matter. Still, the EU is wary about the proposal because of concerns that it may undermine the bloc’s strict standards, the people said.
Brazil is trying to build a coalition of countries, including the European Union and China, to unify carbon markets globally as it prepares to host this year’s COP30 climate summit.
Officials are working on a proposal to better integrate national emission trading systems and the standards that underpin them, according to a draft document seen by Bloomberg. The push is part of Brazil’s Action Agenda, which seeks to help countries implement their climate commitments.
