Belize

Implementation period: 2023-2026 Funding amount: US$200,000 Window: Just-in-Time

Belize has made significant strides in advancing its climate policy and carbon market readiness agenda. Aligning with its climate commitments, or Nationally Determined Contributions (NDC), which outline actions to “explore carbon markets for blue carbon,” Belize has demonstrated growing leadership in integrating coastal and marine ecosystems into its carbon strategies. The country’s interest in blue carbon has catalyzed a suite of technical support activities in line with its international climate commitments, including under Article 6 of the Paris Agreement.

Belize introduced a draft Climate Change and Carbon Market Initiative Bill in 2023. An updated version of the bill—the Climate Change and Carbon Market Initiative Bill 2025—was passed in the House of Representatives in September 2025.  The bill is aimed at regulating carbon markets and the implementation of elements of Article 6 of the Paris Agreement, including an authorization application form, a national registry and a national Greenhouse Gas Measurement, Reporting, and Verification (MRV) system.

Objectives & Activities  

The PMI Program in Belize aims to support the country in preparing for participation in international carbon markets through needs assessments and capacity building on carbon market infrastructure (with a focus on carbon registries).  The PMI also leveraged other complementary technical assistance from the World Bank’s ProBlue and SCALE programs to conduct a Blue Carbon Readiness Assessment (2024) and develop a national blue carbon program (ongoing), respectively. In addition, the PMI-supported technical assistance in Belize is helping to inform the Carbon Market Readiness component of the World Bank’s “Belize Blue Cities and Beyond” lending operation (P181064). The PMI Program in Belize works on:

• Carbon market infrastructure needs assessment & roadmap (2025): Conducting a comprehensive assessment to identify infrastructure gaps and pathways for readiness to engage in carbon markets to inform Belize’s strategic planning and institutional coordination
• Technical assistance package for carbon market infrastructure and carbon registries: Providing hands-on training to government officials from different ministries on the World Bank’s open-source core registry, focusing on practical applications for registry design, governance, and data management
• Stakeholder engagement and policy dialogue: Facilitating continued engagement between government stakeholders, technical experts, and development partners on carbon market policy

Additional Resources  

• Blue Carbon Readiness Assessment