The USA, Chile, India, Kenya, and South Korea are the top five ranked countries across all metrics, demonstrating strong performance in the global carbon market.
Rwanda stands out as the most improved mover, with a score increase of +4 since May 2024 and a climb of five positions. This progress is driven by a partnership between Delagua Group and Oka, resulting in the launch of the first carbon insurance solution to protect against the loss of ITMO credit due to the absence of a Corresponding Adjustment.
Kenya is the second most improved mover, with a score rise of +4 and a three-position gain. The Kenyan government is facilitating project development on flower farms and advancing the Carbon Credit Trading and Benefit Sharing Bill (2023) to enhance the regulatory framework for carbon trading.
On the other hand, Egypt has seen the largest decline, with a score drop of -4 and a fall of five positions. Market efficiency remains at a low 6%, and the country scores poorly on the new indicator tracking the average price paid per credit.
Mexico has also experienced a significant decline, with a score drop of -3 and a six-position fall. This is due to the new indicator assessing the average price paid per credit, which showed a decrease from $15.23/t to $12.89/t.