MONROVIA, LIBERIA — President Joseph Nyuma Boakai’s administration is moving to establish a more comprehensive institutional and regulatory framework for Liberia’s emerging carbon market, with a proposed new executive order seeking to strengthen government oversight, regulate carbon credit transactions, establish financial accountability mechanisms and prepare the country for expanded participation in international climate finance.
Executive Order No. 170, which amends and restates Executive Order No. 155 issued on October 28, 2025, seeks to consolidate the legal and administrative framework governing the Carbon Markets Authority (CMA), positioning the institution as the lead government agency responsible for climate finance and carbon market development.
The proposed order represents an important development in Liberia’s efforts to translate its natural resources and environmental assets into economic opportunities through international carbon markets. It also addresses institutional weaknesses and unfinished assignments identified during the implementation of the original executive order.
Under the revised framework, the Carbon Markets Authority would retain its position within the Executive Branch, with expanded responsibilities covering policy formulation, regulatory standards, carbon market participation, compliance with international climate commitments and coordination of Liberia’s engagement in global climate finance mechanisms.
The move comes after the Authority, working alongside the Forestry Development Authority and the Environmental Protection Agency, presented Liberia’s National Carbon Market Policy to President Boakai on September 1, 2026, following a national consultation process.
That policy development provides an important foundation for the next phase of the country’s carbon market ambitions, particularly as Liberia seeks to attract investments into forest conservation, sustainable land management, renewable energy and other activities capable of reducing greenhouse gas emissions.
One of the most consequential provisions of Executive Order No. 170 is the establishment of a Steering Committee to provide strategic guidance and high-level oversight to the Carbon Markets Authority pending the enactment of a permanent legal framework.
The committee would be chaired by the Minister of State for Presidential Affairs, with its other members appointed by the President. The Chief Executive Officer of the Authority would serve as secretary.
Its responsibilities would include reviewing and approving the Authority’s strategic plan, annual work programme and operating budget, monitoring institutional performance, overseeing internal controls and risk management systems, and ensuring regular reporting to the President.
The proposed arrangement introduces an additional layer of executive oversight over an institution whose decisions could influence the management of substantial international climate investments and revenues generated from Liberia’s environmental resources.
The Steering Committee would also oversee ethics, legal compliance and institutional accountability, while receiving regular reports from the Authority’s leadership.
However, the committee is expressly described as an interim governance structure. It would remain in place until legislation establishes a permanent Board of Directors for the Authority.
The order also maintains the current Chief Executive Officer, who was appointed under Executive Order No. 155, while allowing the President to appoint a Chief Operations Officer and Chief Financial Officer with demonstrable expertise in climate policy, environmental management, finance or related disciplines.
The CEO would also continue serving as Presidential Envoy on Climate Action, coordinating with the Ministry of Foreign Affairs and other relevant government institutions to ensure that international climate engagement reflects national policy.
Another central feature of the proposed order is the establishment and operation of a National Carbon Registry, intended to serve as the country’s official system for recording carbon credits originating from Liberia.
The registry would track the issuance, transfer and retirement of carbon and emissions credits, bringing greater national oversight to transactions involving Liberia’s carbon resources.
The document identifies international standards and frameworks, including Article 6.2 of the Paris Agreement, the United Nations Framework Convention on Climate Change’s Enhanced Transparency Framework and the Carbon Offsetting and Reduction Scheme for International Aviation.
Importantly, the order declares that information recorded in the National Carbon Registry would constitute the sovereign property of the Republic of Liberia and would be governed by national data protection and security policies.
This provision carries considerable importance because carbon credits represent more than environmental certificates. They can become valuable financial instruments traded through international markets, creating opportunities for countries with significant forest resources and other natural carbon sinks.
By requiring a national registry, the government seeks to establish a central mechanism for tracking transactions, reducing the risk of double counting and improving the country’s ability to account for carbon credits generated within its territory.
The Authority would also be required to publish quarterly reports on registry operations, transaction summaries, issuance volumes and fiscal implications within 30 days after each quarter. Its first report would be due within 60 days of the order.
Such disclosure requirements could help strengthen public confidence, provided the information is complete, accessible and supported by independent verification.
Executive Order No. 170 also attempts to establish clearer financial rules for carbon market operations.
The Authority would be permitted to develop regulations, procedures, guidance and published criteria necessary for administering the registry and carbon market activities.
However, regulations would require approval from the Steering Committee. Where a regulation prescribes a fee, levy or revenue share, concurrence from the Ministry of Finance and Development Planning would also be necessary.
The order provides that fees should be determined on a cost-recovery basis for regulatory and registry services and published in an official schedule.
It further allows for charges calculated per unit of carbon credit or per hectare, subject to the required government concurrence and an approved ceiling.
Significantly, the document states that the Authority cannot impose any tax pending the enactment of the Climate and Carbon Act.
This distinction is important because it establishes a boundary between administrative charges for regulatory services and taxation, which requires an appropriate legal foundation.
The proposed order also directs the Steering Committee to review Regulation 001 within 30 days and validates fees lawfully collected under previous regulatory notices or interim arrangements, subject to audit.
For Liberia, where the financial implications of carbon trading could become increasingly important, transparent revenue accounting will be essential to ensuring that the country receives appropriate value from projects involving its environmental resources.
Perhaps the most important institutional assignment contained in the proposed order is the requirement for the Carbon Markets Authority to submit a draft Climate and Carbon Bill to the Office of the President within six months.
The bill would be prepared in consultation with the Ministry of Justice, Ministry of Finance and Development Planning, Environmental Protection Agency, Forestry Development Authority and Law Reform Commission.
The proposed legislation is expected to address the statutory establishment of the Carbon Markets Authority, the National Carbon Registry, regulatory fees, levies and taxes, revenue-sharing arrangements, the Liberian Carbon Investment Fund, regulatory appeals and compliance mechanisms.
This requirement recognizes that an executive order, although capable of providing an interim administrative framework, cannot substitute indefinitely for comprehensive legislation establishing the country’s long-term carbon market governance structure.
The document therefore provides for the Authority to continue operating while the proposed bill is considered by the Legislature, subject to the restrictions governing matters that must await legislation.
It also outlines a transition process once the Climate and Carbon Act becomes effective.
Under that arrangement, the existing Authority would continue operating for 90 additional days to facilitate the transfer of institutional responsibilities, records, technical studies, government equipment, eligible contracts and personnel to the statutory institution.
A final transition report would then be submitted to the President and Legislature before the existing Authority is formally dissolved following acceptance of the report.
The proposed framework further requires the Authority to submit an annual report to the President and publish the report alongside audited accounts, regulations, fee schedules and a register of every concession and waiver.
The General Auditing Commission would have authority to audit the institution.
These provisions are particularly relevant because Liberia’s participation in carbon markets could involve complex agreements between government institutions, international investors, project developers, communities and financial partners.
Without accessible records, credible auditing and clear disclosure of concessions and waivers, the country could struggle to establish whether the benefits generated by carbon transactions are being properly accounted for.
The proposed executive order therefore seeks to place transparency and institutional accountability at the center of Liberia’s carbon market administration.
For the Boakai administration, the challenge will be to translate these provisions into an effective national system that attracts credible investment without compromising the country’s environmental interests or public financial management obligations.
Liberia possesses considerable opportunities in forest conservation, mangrove restoration, sustainable agriculture, renewable energy and other climate-related sectors. However, the economic value of these resources will depend not simply on the volume of carbon credits generated, but also on the quality of regulation, integrity of transactions and fairness of the financial arrangements.
If effectively implemented and subsequently supported by comprehensive legislation, Executive Order No. 170 could provide an important institutional foundation for Liberia to participate more confidently in international carbon markets while strengthening national control over the country’s climate finance opportunities.
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