Fiji, Oct. 6 -- Fiji has launched a FJD$5.2 million (US$2.6 million) five-year plan to develop its carbon market and position the country to undertake its first international carbon trade by 2030.

The Five-Year Costed Carbon Market Plan 2026-2030 was launched by the Government on the opening day of the Pacific Pre-COP31 in Nadi.

The plan, developed by the Ministry of Environment and Climate Change in collaboration with the Ministry of Forestry and Conservation International, sets out the systems and frameworks Fiji needs to participate in international carbon markets.

Carbon markets allow verified reductions in greenhouse gas emissions to be traded, creating opportunities for Fiji to attract climate finance for projects that reduce emi...