Carbon markets are fast emerging as a critical mechanism for facilitating global climate action

The climate crisis continues to exert its grip globally, with rising temperatures, sea level increases, shifting precipitation patterns, and heightened frequency of extreme weather events. However, the brunt of these impacts falls disproportionately on marginalised communities, despite their minimal contribution to the problem.

In response, carbon markets are emerging as pivotal tools for driving global climate action. These markets, by assigning a price to carbon, aim to incentivise emissions reduction efforts and direct investments toward sustainable solutions. Yet, marginalised communities often find themselves sidelined in these mechanisms, lacking access and agency within them. Empowering these communities within carbon markets could revolutionise climate action, fostering inclusivity and social justice.

The vulnerabilities of marginalised populations, spanning socioeconomic, gender, ethnicity, age, disability, and migrant status, are compounded by the disproportionate impacts of climate change. Indigenous groups face heightened displacement from floods, while rural women in developing nations confront the marginalised effects of desertification on their livelihoods. Despite their pivotal role in climate solutions, marginalised groups encounter numerous barriers to accessing carbon markets, including awareness gaps, financial constraints, regulatory complexities, and limited capacity.

Furthermore, language barriers, social discrimination, and geographical isolation further impede their participation, limiting their ability to shape their well-being. Urgent and inclusive action is essential to address these disparities.

India, with its vast potential, stands poised to lead transformative efforts in climate action by empowering marginalised rural communities and urban informal settlements within carbon markets. Exemplary projects within India demonstrate inclusive models, such as training women self-help groups in the Sunderbans for mangrove restoration and blue carbon credits. These initiatives serve as beacons of hope, illustrating the potential for equitable and inclusive climate action on a global scale.