UNIDROIT represented at GoF-DLDD Launch in Rome

On 17 February 2025, UNIDROIT President Maria Chiara Malaguti participated in the launch of the Group of Friends on Desertification, Land Degradation, and Drought (GoF-DLDD), organised by the Chairperson of the Africa Regional Group, Her Excellency Fatimata Cheiffou, Ambassador of the Republic of Niger to Italy, in honour of the COP16 Presidency, His Excellency Mohammed Alghamdi, Ambassador of the Kingdom of Saudi Arabia to FAO. With opening remarks provided by the Ambassador of Niger, and following a speech by FAO DG Mr Qu Dong Yu, the roundtable comprising representatives of UNCCD, IFAD, WFP, GHIAR, ICCROM, and FAO heard a presentation on the UNIDROIT Project on the Legal Nature of Verified Carbon Credits and more generally on how UNIDROIT could support the fight against climate change.

The main objective of the UNIDROIT Project on the Legal Nature of Verified Carbon Credits is to provide guidance on private law issues so as to enhance confidence in VCC transactions and support the development of a well-functioning carbon market. The project could therefore provide material support to the historical decision of the Conference of Parties adopted on the first day of the 2024 UN Climate Change Conference on standards for the creation of carbon credits under Article 6.4 of the Paris Agreement. A robust carbon market could play a central role in fighting climate change, achieving the goals of the Paris Agreement, and facilitating the fulfilment of the UN Sustainable Development Goals. Since a significant share of the projects that generate VCCs are located in developing economies, a reliable carbon market also provides an opportunity to increase capital flow to emerging markets and provide funding to climate mitigation projects.

In the development of legislative guidance, UNIDROIT is actively contributing to the scaling up and legal certainty of the international carbon market and meeting the demand for harmonised international rules in this sector.

UNIDROIT is looking forward to contributing to the Work of the GoF-DLDD.

Concept Note

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