Executive Summary
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Colombia has made progress in advancing nature-based carbon credit projects, with four mangrove projects currently registered under the Verra Standard and Plan Vivo and over 50 additional projects in other nature-based sectors such as forest and agriculture. While Colombia lacks explicit regulations for the Voluntary Carbon Market (VCM), a draft proposal outlines requirements such as project authorization, FPIC, methodology approvals, and penalties for non-compliance. However, the timeline for approval is uncertain, and the draft still lacks clear, specific guidelines, particularly regarding carbon rights.

All mitigation projects, including those in the VCM, must be registered with the National Emission Reduction Registry (RENARE). The registration process involves multiple phases, from feasibility to project closure, and projects must comply with safeguards, including FPIC, to ensure the participation of Indigenous Peoples and Local Communities (IPLC). Additionally, projects must adhere to requirements such as benefit-sharing plans and align with community culture. Colombia also mandates the implementation of MRV processes for emissions and removals in VCM projects. Despite this, the user experience of RENARE could be improved, especially regarding the presentation of market data, emissions reductions, and ecosystem information.
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Mangroves are considered public goods in Colombia, and their use is subject to concessions, permits, or licenses. The Ministry of Defense oversees mangrove concessions, with approval from the Maritime Authority (DIMAR) and relevant environmental authorities. While community-based forestry concessions for conservation are allowed under the National Development Plan, these do not apply to collective territories of Black, Afro-Colombian, Raizal, and Palenquero communities. Colombia also prohibits private ownership of mangrove forests and restricts certain commercial activities in mangrove areas, such as mining or aquaculture. Carbon rights in mangroves are not yet clearly defined, and the draft regulation needs to establish a standardized process for securing, transferring, and revoking these rights.
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Overall, Colombia has ambiguous enabling conditions for blue carbon projects. There are regulations for emissions reductions and MRV processes. However, further clarity is needed regarding carbon rights, the concession approval process for mangrove projects, and the entire regulatory framework for the Voluntary Carbon Market. For project developers and investors, the evolving regulatory landscape provides opportunities but requires careful navigation, particularly in terms of authorization, safeguards, and the management of carbon rights. The government must prioritize finalizing the draft regulations to provide more explicit guidance and ensure a transparent, efficient process for nature-based carbon projects.
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