SANTO DOMINGO. -The Dominican Republic took a step forward in its climate policies by integrating the Carbon Market , by renaming the National Council for Climate Change and Clean Development Mechanism, which, according to Decree No. 358-25, will henceforth be called National Council for Climate Change and Carbon Market .
This name change is an adaptation of the national legal system to the mandates of the Agreement and its rulebook, completed in November 2024 at COP29 in Azerbaijan, where the regulations of its article 6 and all its sections were definitively approved.
Article 6 of the Paris Agreement, which facilitates and regulates national and international cooperation for the reduction of greenhouse gas emissions through the Carbon Market, replaces the Kyoto Protocol and the Clean Development Mechanism, one of the tools created by that treaty that provided support for projects that could generate certified carbon credits.
In total, the Dominican Republic made 15 projects viable under the Clean Development Mechanism, being the Caribbean country with the highest number of initiatives developed.
The country has already developed tools such as the pilot Emissions Trading , as part of the CiACA (Collaborative Instruments for Ambitious Climate Action) initiative of the United Nations Framework Convention on Climate Change (UNFCCC) and with technical support from the Caribbean Regional Collaboration Centre.
Furthermore, the national private sector is developing initiatives such as Sustainable Companies and adapting its sustainability programs to generate a voluntary market for greenhouse gas emissions that paves the way for the Dominican Republic's integration into the international carbon market.
Through Decree No. 358-25 , the entity maintains its role as the Designated National Authority before the United Nations Framework Convention on Climate Change to endorse or object to reports of carbon emission reduction or capture at the national level, which facilitates the participation of the Dominican private sector in carbon markets.
Decree No. 358-25 also stipulates that the National Council for Climate Change and Carbon Market be attached to the Ministry of the Presidency.
