Dominican Republic adapts climate policies to include Carbon Market

Santo Domingo.- The Dominican Republic will integrate the carbon market approach into its climate policies, following the approval of Decree 358-25, which renames the National Council for Climate Change and Clean Development Mechanism as the National Council for Climate Change and Carbon Market.

This adjustment aligns national legislation with the Paris Agreement and the rules adopted at COP29 in Azerbaijan (2024), particularly Article 6, which replaces the Kyoto Protocol and its Clean Development Mechanism (CDM). Under the CDM, the Dominican Republic developed 15 certified projects, making it the Caribbean leader in this area.

The country has also advanced through initiatives like the Emissions Trading Pilot System, supported by the UNFCCC’s CIACA program and the Caribbean Regional Collaboration Centre. Meanwhile, the private sector is promoting sustainability programs to create a voluntary emissions market, preparing the nation for broader participation in international carbon trading.

Decree 358-25 confirms the Council’s authority to oversee, endorse, or reject national carbon emissions reports, and formally attaches the entity to the Ministry of the Presidency, reinforcing its role as the designated national authority before the UNFCCC.