Coalition to Grow Carbon Markets wins Environmental Finance top initiative award

The government-led Coalition to Grow Carbon Markets was named Best Initiative of the Year in Environmental Finance’s annual voluntary carbon market rankings. The recognition comes as the coalition expands ahead of COP31 and prepares to publish new guidance aimed at boosting demand for carbon credits.

Why it matters: - The Coalition to Grow Carbon Markets is trying to unlock more corporate demand for carbon credits through coordinated government action. - Environmental Finance’s recognition signals growing market attention on government-backed efforts to scale high-integrity voluntary carbon markets. - MSCI data cited by the coalition suggests global carbon credit retirements could quadruple by 2035 if governments take more supportive steps.

What happened: - The Coalition to Grow Carbon Markets was voted Best Initiative of the Year in Environmental Finance’s Annual Voluntary Carbon Market Rankings. - The coalition launched at London Climate Action Week in June 2025. - The award comes a little more than a year after launch. - The coalition is government-led and was formed to accelerate demand for carbon credits through coordinated leadership.

The details: - The coalition started with five founding member countries. - Membership has since grown to 14 governments. - Türkiye, Ghana and Luxembourg are among the newest members. - Türkiye is hosting this year’s UN COP31 climate talks. - The coalition released Shared Principles last year. - The Shared Principles set a high-level framework for the role of carbon credits in credible corporate decarbonisation plans. - The coalition plans to publish a policy playbook at COP31 to guide members in accelerating demand for carbon credits. - Last week, the coalition named Lindy Fursman as executive director of its secretariat. - Fursman was previously director for climate and energy policy at the Tony Blair Institute for Global Change. - Fursman also served as a former top climate advisor to New Zealand. - Environmental Finance’s Annabelle Palmer said the winners reflect the innovation, leadership and commitment needed to strengthen the integrity and impact of the voluntary carbon market.

Between the lines: - The award gives the coalition added visibility just as it builds out its leadership team and prepares for COP31. - The membership growth suggests governments are treating carbon market policy as a more coordinated international effort. - The emphasis on “high-integrity” carbon credits points to an ongoing push to distinguish credible market activity from weaker climate claims. - The coalition’s timing during Climate Week NYC positions it to influence discussion ahead of the Türkiye-led COP31 agenda.

What's next: - The coalition will continue engaging government, business and industry stakeholders during Climate Week NYC. - The group is expected to press for policies that expand demand for carbon credits ahead of COP31. - The coalition will publish its policy playbook at COP31. - Türkiye’s COP31 presidency is expected to make carbon markets a priority.

The bottom line: - The coalition’s award underscores that government-backed carbon market policy is moving from concept to mainstream climate strategy.