Fourth meeting of the Experts’ Group on Carbon Markets
From 15 to 19 June 2026, the Experts’ Group (EG) on Carbon Markets met for the fourth time. The meeting, held in hybrid format, had approximately 55 registered delegates and other experts, representing 19 HCCH Members and seven Observers, in addition to members of the Permanent Bureau of the HCCH.
Pursuant to its mandate (C&D No 18 of CGAP 2025 and C&D No 12 of CGAP 2026), the EG made further progress on the study of the private international law (PIL) issues arising from carbon markets, with a view to enhancing legal certainty in cross-border transactions and supporting the responsible scaling of carbon markets.
The EG received an update on the discussions held at CGAP 2026 and reviewed the framing of its work, including its scope and the prioritisation of issues. The EG recalled that its mandate extends across the lifecycle of carbon market activities and is not confined to proprietary issues or secondary-market transactions involving carbon units.
Reflecting a holistic approach to PIL issues arising from carbon markets, the EG considered the role of safeguards in PIL and the interrelationship among jurisdiction, applicable law, and recognition and enforcement. The EG also began considering international cooperation mechanisms, which will be examined in greater depth at a future meeting. The EG agreed that safeguards may inform the design and operation of PIL rules but are not intended to regulate substantive law or dilute stronger protections available under domestic law.
The EG will continue its work on a focused and pragmatic basis, building on existing HCCH instruments and considering additional solutions where genuine gaps are identified. Future analysis will be tested against concrete scenarios arising at different stages of the carbon-market lifecycle and across different types of disputes.
On 16 June, participants attended “Building Trust Across Borders: Safeguards, the Rule of Law, and Climate Resilience in Carbon Markets”, an event co-organised by the HCCH and the International Development Law Organization (IDLO) alongside the EG meeting. The event convened legal experts, policymakers, practitioners and members of the diplomatic community to examine how legal frameworks and field-based practice can jointly support high-integrity carbon markets and climate resilience.
The EG will next meet in November 2026 and will present a report on the progress of its work to CGAP in March 2027.
More information on the Carbon Markets Project is available on the HCCH website.