9th Week CCM 2026. Global issuance triggers Article 6.4; Brazil advances in the SBCE with CTCP qualifiers; Pacific gains strength preCOP; new RONI modernizes El Niño; Baltic alert; adaptation benefits
- Art Dam
- Mar 1
- 7 min read
Updated: Mar 6
Monday, 02 March 2026.
9th Week Carbon Credit Markets in 2026.
Recent advancements in carbon credits include the first global issuance under Article 6.4 of the Paris Agreement, with a clean cooking project in Myanmar generating authorized credits for NDC and OIMP (Other International Mitigation Purposes), reinforcing the credibility of the new international market. Meanwhile, in Brazil, the implementation of the SBCE (Brazilian System for the Control of Carbon Credits) is progressing through dialogue between government and industry and with the announcement of the results of the public selection for the Permanent Technical Advisory Committee (CTCP), which qualified 36 entities from sectors such as Industry, Agriculture/Forestry, Energy, and Financial Institutions, marking another step towards structuring the regulated national carbon market.
Other highlights include the decision to hold the pre-COP in Fiji, with a leaders' segment in Tuvalu, consolidating the Pacific as a strategic voice in climate negotiations leading up to COP31, while parallel initiatives, such as the Palau climate event, reinforce regional leadership on issues such as adaptation, climate finance, and loss and damage; at the same time, the launch of the new Relative Oceanic Niño Index (RONI) modernizes El Niño monitoring by replacing the previous one and correcting distortions caused by ocean warming, and Europe faces an alert in the Baltic Sea, which has recorded exceptional water loss and continues to grapple with a history of severe pollution, although recent environmental policies indicate signs of recovery.
In Short & Opportunities, the McKinsey Global Institute report shows that investing in climate adaptation, from cooling to coastal defenses, brings economic benefits that outweigh the costs, offering a clear view of global investment needs and opportunities to reduce growing vulnerabilities.
We've also listed several events.
More details below and - if you like - listening to "O Carbono Fala (Bossa Nova)".
Carbon Credits
Myanmar, Article 6, First Carbon Credits Issued Under the UN Carbon Market Established by the Paris Agreement
On February 26, 2026, the first issuance of credits under Article 6.4 of the Paris Agreement was approved, a milestone for the operationalization of the new global emissions reduction system. This is a clean cooking project in Myanmar, which distributes efficient stoves that reduce harmful domestic air pollution and lessen the pressure on local forests. In addition to officially inaugurating the generation of A6.4ERs, the issuance includes credits authorized for use in both NDCs and OIMPs (Other International Mitigation Purposes), reinforcing its international applicability. The volume issued was about 40% below that verified by the methodology, a result of using updated values and more precise tools, and not arbitrary cuts. This progress strengthens the credibility of the carbon market and paves the way for greater participation of countries and investors in initiatives aligned with global climate neutrality goals.
Brazil, Carbon Market: National body initiates dialogue with industry to implement the SBCE, the country's ETS
On February 12, 2026, the Ministry of Finance reported that the Extraordinary Secretariat of the Carbon Market opened a round of meetings with industry after holding a presentation on February 11 to the National Confederation of Industry (CNI) on the implementation of the Brazilian Emissions Trading System (SBCE), highlighting the mechanism as strategic for integrating industrial, technological, financial and climate policies; the workshop detailed the regulatory roadmap, the National Emissions Reporting Plan (PNR) and the steps to full operation of the market in 2030, including public consultations, sectoral meetings and the installation of the Permanent Technical Advisory Committee (CTCP), responsible for supporting allocation criteria, methodologies and governance of the new regulated carbon market in Brazil.
Brazil, results of the public selection process to compose the national carbon market committee
The Extraordinary Secretariat of the Carbon Market of Brazil had opened a selection process to compose the Permanent Technical Advisory Committee (CTCP) of the Brazilian Greenhouse Gas Emissions Trading System (SBCE). According to the notice, published in the Official Gazette of the Union (DOU), registrations took place between 12/29/2025 and 01/30/2026 on the Participa + Brasil platform, with the results of the qualification being released a few days ago; 36 entities were qualified and 22 were not. Among the sectors of the qualified entities:
9 from Industry
6 from Agriculture, livestock, forestry and land use
5 from Energy
3 from Financial Institutions operating in environmental markets
2 from Transportation
2 from Waste Management
9 from joint multi-sector entities
Reasons for disqualification include failure to prove national representativeness and failure to indicate the number of members, as well as failure to submit documents as per the call for proposals.
See below who was - and who was not - qualified. Adjustments may still occur, and the submission of the CTCP composition for official publication in the Official Gazette must occur by March 6, 2026.
Others Highlights
Fiji, Pre-COP will be held in the Pacific.
Australia welcomed the Pacific Islands Forum's decision to hold the pre-COP in Fiji, with a special component of leaders in Tuvalu, consolidating the region as a central voice in global climate negotiations. Scheduled for October, the meeting will serve as a political boost for COP31, which Turkey will host in 2026, and will have Australian operational and logistical support. The initiative also integrates other regional movements, such as the special climate event to be hosted by Palau, and recognizes the leading role of PIF President Jeremiah Manele, the PIF Troika, and the secretariat.
By bringing international negotiators and leaders to the Pacific, the pre-COP offers an unprecedented opportunity for the global community to experience firsthand the climate impacts and local solutions developed by island nations. The initiative reinforces regional leadership, strengthens cooperation among Pacific states, and increases the visibility of priorities such as adaptation, climate finance, and loss and damage, at a crucial moment for raising international climate ambition.
It is worth remembering that Australia has opened up space for limited climate mobility through agreements such as the Australia-Tuvalu pact, but continues to prioritize local adaptation and has not yet adopted a comprehensive resettlement policy for entire Pacific populations.
New Index for Better Monitoring of El Niño
The accelerated warming of the oceans has increasingly distorted the assessment of the intensity of El Niño and La Niña, since the traditional index — the ONI (Oceanic Niño Index), based on a fixed 30-year climatology — no longer adequately reflects current conditions. The ONI measures temperature anomalies in the Niño 3.4 region of the Pacific — approximately between 5°N–5°S latitude and 170°W–120°W longitude — but its static reference no longer keeps pace with recent changes. These older models also fail to provide a dynamic and accurate comparison between the Pacific and the global tropics, which is essential for monitoring ENSO (El Niño–Southern Oscillation), the climate system that encompasses El Niño, La Niña, and their neutral phases. In February 2026, the Climate Prediction Center (CPC) announced the adoption of the Relative Oceanic Niño Index (RONI), created to make monitoring of ENSO more responsive and reliable, gradually replacing ONI. By comparing the ENSO region with the global tropics, RONI reduces the limitations of fixed climatology and improves both the identification of past events and the quality of future forecasts.
Europe, Baltic Sea: Between water loss and historic pollution
In February 2026, the Baltic Sea suffered an unprecedented drop of 275 billion tons of water, falling 67 cm below the historical average, due to strong winds, high atmospheric pressure and the displacement of water masses through the Danish Straits towards the North Sea. This phenomenon, intensified by Arctic warming and the disruption of the polar vortex, shows how interconnected seas can experience water redistribution instead of absolute loss, as recent studies such as Quantification of Baltic Sea water budget components using dynamic topography (2025) and Untangling the waves: decomposing extreme sea levels in a non-tidal basin, the Baltic Sea (2025) show. Furthermore, the Baltic Sea is considered one of the most polluted seas in the world, a result of its semi-enclosed geography, low salinity, and intense human activity. Between the 1960s and 1980s, it suffered from discharges of DDT, PCBs, mercury, pesticides, and fertilizers, which caused eutrophication and dead zones. Today, although microplastics, heavy metals, and pharmaceutical residues are still present, environmental policies from the European Union have significantly reduced pollution, with signs of recovery such as the Bay of Puck, HELCOM. In short, the Baltic Sea carries a history of severe pollution and faces increasing climate pressures, but joint efforts show that partial recovery is possible.
Shorts & Opportunities
This recent report from the McKinsey Global Institute is a good read; it quantifies how much the world will need to invest in adaptation measures—from air conditioning to coastal dikes—and shows that the benefits far outweigh the costs, a topic explored in depth in the recent webinar on climate risks and adaptation last January 13th. Here is the report.
Events
🇧🇴 March 5, Bolivia Carbon Forum, Santa Cruz, Bolivia
🖥️ March 5, Discover the Latest Developments in GRI Sector Standards and Learn How to Report with Ease. Time option 1 or time option 2.
🖥️ March 12, Learn about the IFRS Sustainability Alliance—A quick guide for prospective members. Nearly 40 countries use ISSB Standards. Time option 1 or time option 2.
🇵🇾 March 25 & 26, Paraguay Carbon Forum, Asunción, Paraguay
🇧🇷 26 de março, Fórum Crea - SP - Visão ESG: O Papel da Engenharia na Resiliência dos Negócios. São Paulo, Brasil
🇨🇴🇳🇱April 28 - 29, First International Conference on Phasing Out Fossil Fuels, by the Governments of Colombia and the Netherlands. In the city of Santa Marta, Colombia.
🇵🇪 May 27 & 28, Peru Carbon Forum 2026, 3ra edición, ESAN, Lima, Peru
Between COP30 and COP31, when governments, financial leaders and implementers stop negotiating text and start building the concrete mechanisms that actually deliver results.
🇰🇷🇺🇳April 21 - 25, Climate Week 1, Yeosu, Republic of Korea.
🇦🇿🇺🇳 October 5 - 9, Climate Week 2, Baku, Azerbaijan
🇧🇷 August 27th and 28th, Brazilian Climate and Carbon Conference, Brazil NBS Alliance
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