{"id":320393,"date":"2025-03-30T08:34:38","date_gmt":"2025-03-30T12:34:38","guid":{"rendered":"https:\/\/oncubanews.com\/en\/?p=320393"},"modified":"2025-03-30T08:34:38","modified_gmt":"2025-03-30T12:34:38","slug":"cuba-to-enter-carbon-market","status":"publish","type":"post","link":"https:\/\/oncubanews.com\/en\/cuba\/economy\/cuba-to-enter-carbon-market\/","title":{"rendered":"Cuba to enter carbon market"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Given its <\/span><a href=\"https:\/\/oncubanews.com\/en\/tag\/environment\" target=\"_blank\" rel=\"noopener\"><b>environmental<\/b><\/a><span style=\"font-weight: 400;\"> potential, Cuba will enter carbon markets, confirmed Deputy Minister of Science, Technology, and Environment Rudy Montero.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A report published on the TTC (Travel Trade Caribbean) website, an international media outlet based in Italy with a correspondent on the island, stated that the decision was announced at the recent Hand-in-Hand Initiative agri-food trade forum organized in Havana by the Ministry of Agriculture and the UN Food and Agriculture Organization (FAO).<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"es\">CLIPPING INFORMATIVO SEMANAL<br \/>\n\ufe0f24-28 marzo<\/p>\n<p>Proyecto &#8220;Mano de la mano&#8221; fomentar\u00e1 inversiones en la agroindustria<br \/>\n<a href=\"https:\/\/t.co\/x5n85KrVr0\">https:\/\/t.co\/x5n85KrVr0<\/a><\/p>\n<p>Cuba, con enormes potencialidades para insertarse en el mercado de carbono<br \/>\n<a href=\"https:\/\/t.co\/v2Fh5CZ0Ak\">https:\/\/t.co\/v2Fh5CZ0Ak<\/a> <a href=\"https:\/\/t.co\/HLCvqxHHTY\">pic.twitter.com\/HLCvqxHHTY<\/a><\/p>\n<p>\u2014 FAO Cuba (@FAOCuba) <a href=\"https:\/\/twitter.com\/FAOCuba\/status\/1905648540954558493?ref_src=twsrc%5Etfw\">March 28, 2025<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">The action was previously approved by the Cuban government on February 15, given that it represents a crucial opportunity for Cuba to contribute to climate change mitigation while generating income through carbon credits, given the conservation of its natural heritage.<\/span><\/p>\n<p><b>Strategic framework for Cuban integration<\/b><\/p>\n<p><span style=\"font-weight: 400;\">According to Montero, the plan is based on priority lines focused on key sectors such as forests, waste, energy, and so-called \u201cblue carbon.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These areas have been selected due to their potential to reduce or eliminate greenhouse gas (GHG) emissions and generate tradable carbon credits.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Montero emphasized that this effort will be guided by sustainability criteria and explained that work will be done \u201cbased on a technical-methodological perspective, a regulatory perspective, and the design of specific business models.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition, he highlighted that an enabling framework is already being developed that will integrate institutions and experts to rehabilitate the country\u2019s ecosystems.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This approach seeks to align the international commitments established in the Nationally Determined Contribution (NDC), updated in February 2025.<\/span><\/p>\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"REPORTAJE Los bosques de Cuba y su efecto sumidero\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/KU9p53Xtulc?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<p><b>Forest potential: an exemplary model<\/b><\/p>\n<p><span style=\"font-weight: 400;\">One of the fundamental pillars of Cuba\u2019s plan is its forest management. Roberta de Souza, a carbon market finance specialist at the FAO, highlighted that Cuba has a negative deforestation rate, meaning it has increased its forest cover in recent years.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cCuba is an exemplary model in the sustainable management of its forests,\u201d stated De Souza. This achievement positions the island as a global leader in nature-based solutions to combat climate change.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">REDD+ (Reducing Emissions from Deforestation and Forest Degradation) projects were identified as a key tool to monetize these advances.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to De Souza, these projects will not only finance environmental initiatives but also attract international cooperation and technical support.<\/span><\/p>\n<p><b>Blue carbon<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Another outstanding aspect of Cuba\u2019s potential for entering the carbon market is the potential for \u201cblue carbon,\u201d which encompasses marine-coastal ecosystems such as mangroves, seagrass beds, and coral reefs.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Kim Friedman, FAO Senior Fisheries Resources Officer, highlighted that Cuba is home to the largest mangrove forest in the Caribbean and possesses approximately 36% of the region\u2019s ocean-connected coral reefs.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Friedman explained that these ecosystems not only capture large amounts of carbon but also provide additional benefits such as protection against flooding and sea level rise.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, he cautioned that coastal habitats are underrepresented in global Nationally Determined Contributions (NDCs). \u201cIt is crucial to include these assets in national and international climate strategies,\u201d the expert recommended.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He also mentioned that the blue carbon market is emerging as a promising opportunity. Initiatives such as the Colombian Vida Manglar project demonstrate how these credits can be certified and sold under international standards.<\/span><\/p>\n<p><b>Global carbon market and Cuba\u2019s assets<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Carbon markets are trading schemes designed to provide financial incentives for reducing or eliminating GHG emissions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to World Bank statistics, there are currently 36 regulated markets covering more than 17% of global emissions, representing a significant opportunity for countries committed to sustainability.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In this context, Cuba meets the necessary requirements after updating its NDC 3.0. This document sets ambitious goals for the island, such as achieving a 49.3% share of renewable sources in electricity generation by 2035.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Of this percentage, 26% will be allocated to unconditional commitments under the NDC, while the remainder will be used to generate revenue through the carbon market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cuba\u2019s entry into the global carbon market not only represents a significant economic opportunity but also a firm commitment to environmental sustainability.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With unique natural resources and innovative policies supported by international organizations such as the FAO and UNDP, Cuba is well positioned to become a key player in this emerging field.<\/span><\/p>\n<p><b>Challenges and outlook<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Despite the optimism generated by these initiatives, there are significant practical challenges. Friedman noted that harmonized methodologies are still needed to measure progress in areas such as blue carbon.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He also emphasized the importance of conducting detailed inventories of coastal assets and developing solid regulatory frameworks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the other hand, Montero acknowledged that this is a \u201cchallenging challenge\u201d for the Cuban technical and scientific community. However, he expressed confidence that national capabilities combined with international support will overcome the obstacles.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the FAO\u2019s Senior Fisheries Resources Officer, \u201cthe economic and environmental value of blue carbon could redefine traditional sources of global wealth.\u201d<\/span><\/p>\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"Amazon Carbon | \u00bfQu\u00e9 es un cr\u00e9dito o bono de carbono?\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/M1M-PkxxU80?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<p><b>How carbon markets work<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Carbon markets are financial tools designed to combat climate change by reducing greenhouse gas (GHG) emissions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">They operate through the purchase and sale of carbon credits. Each credit represents the reduction or elimination of one metric ton of carbon dioxide equivalent from the atmosphere.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Such credits can be generated by projects that reduce emissions, such as the installation of solar panels, or by initiatives that capture and store carbon, such as reforestation or the sustainable management of marine ecosystems.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Since the Earth\u2019s atmosphere is only one, nations with outstanding environmental debts or environmentally unfriendly economic programs can purchase carbon credits from nations with emissions below mandated levels.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Examples include REDD+ (Reducing Emissions from Deforestation and Forest Degradation) project credits, which finance forest protection; renewable energy credits, which promote wind or solar projects; and energy efficiency credits, which bolster technological improvements.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are also carbon capture credits, focused on carbon capture and storage projects. Each type is tailored to different emissions reduction initiatives, allowing companies and organizations to offset their carbon footprint.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Those that do not use all their credits can sell them to others who exceed their limits. This model seeks to incentivize progressive emissions reductions.<\/span><\/p>\n<p><b>Criticisms<\/b><\/p>\n<p><a href=\"https:\/\/biofix.co\/opinion-desmitificando-el-mercado-de-carbono-respuestas-a-las-criticas-y-promocion-a-la-accion-climatica\/\" target=\"_blank\" rel=\"noopener\"><b>Criticisms<\/b><\/a><span style=\"font-weight: 400;\"> of the carbon market often focus on the complexity and difficulty of ensuring the integrity of carbon credits, which can lead to double counting and lower-than-expected emissions reductions.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The insufficient participation of developing countries and the possibility of the market becoming a tool for greenwashing by highly polluting corporations are also criticized.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, some argue that carbon markets can divert attention from the need for direct emissions reductions and the transition to renewable energy sources, so transparency and effective regulation are crucial to mitigate these criticisms.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Carbon markets are trading schemes designed to provide financial incentives for reducing or eliminating greenhouse gas emissions.<\/p>\n","protected":false},"author":3134,"featured_media":320395,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13917,13903],"tags":[34992,11417,19256],"ppma_author":[33546],"class_list":["post-320393","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cuban-environment","category-economy","tag-carbon-market","tag-environment","tag-featured"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cuba to enter carbon market | OnCubaNews English<\/title>\n<meta name=\"description\" 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