Economics & Development

In December 2025, Madagascar became one of the first countries to successfully issue carbon credits under its national carbon standard, called the ‘Cadre National de Crédits (CNC)’. This national carbon standard was developed following a protocol referred to as the ‘Standardized Crediting Framework (SCF)’. The SCF is a package of tools that can serve to countries that intend to develop a national carbon crediting standard to access carbon finance. The rollout process following the SCF method is an opportunity to build readiness for host countries’ wider participation in carbon markets, including under Article 6 of the Paris Agreement. It was financed in Madagascar by the Carbon Initiative for Development (Ci-Dev). The setup of the CNC in Madagascar served two purposes: In the short term, it helps generating carbon credits for projects previously registered under the Clean Development Mechanism (CDM), as they are facing the consequences of the end of the CDM. Additionally, the setup of the CNC using the SCF approach delivered practical benefits that will help the country with its long-term carbon market development and Article 6 readiness, including strengthened institutional capacity, improved understanding of carbon crediting processes, early mobilization of carbon finance, and registry discussions. In that sense, the CNC in Madagascar is not seen as a ‘product’ in itself but as a foundational asset that is part of the broader set of tools that can help the government be ready to access carbon finance.