Gov’t to Finalise Carbon Markets Framework in 2026

Minister of Water, Environment and Climate Change, Hon. Matthew Samuda, says the Government intends to finalise its carbon markets framework this year, positioning Jamaica to access new revenue streams and attract greater investment in clean technology.

He made the disclosure during his contribution to the 2026/27 Sectoral Debate in the House of Representatives on Tuesday (April 28).

Mr. Samuda noted that the development of carbon markets and the supporting framework presents a significant opportunity for Jamaica to participate in global trading, while driving the growth of clean technology across multiple sectors.

He pointed out that the initiative can help Jamaica attract investment while advancing emissions reduction projects.

Minister Samuda further indicated that the framework will create opportunities for local businesses and entrepreneurs to participate in the green economy.

He added that the initiative will facilitate technology transfer and support economic diversification, among other benefits.

Mr. Samuda also provided an update on Jamaica’s application to the Loss and Damage Fund.

The Fund is a United Nations climate finance mechanism created to help vulnerable countries like Jamaica recover from the devastating impacts of climate change.

The Minister informed the House that Jamaica has submitted its first request, seeking US$20 million to support recovery efforts following the impact of Hurricane Melissa, adding “we expect a formal decision in June”.