UNCTAD’s Least Developed Countries Report 2024 highlighted on Monday that the group of 45 least developed countries (LDCs) could use carbon market projects to enhance climate action by offsetting the buyers’ emissions at improved rates which will allow more investment.
LDCs were among the first to join carbon markets – where carbon credits are bought and sold – but they face unique challenges in accessing the market due to their size and difficulties in attracting foreign investment.