The policy picture
Myanmar made carbon market history in February 2026, when the UN Supervisory Body approved the first-ever issuance under the Paris Agreement Crediting Mechanism: roughly 60,000 credits from a cookstove project that transitioned from the Clean Development Mechanism. The project runs with Korean participants and its credits are expected to go to companies in Korea's emissions trading system.
That milestone came with a governance question that every buyer of Myanmar credits will face. The authorisation runs through the environment ministry under the military government, and civil-society groups argue the project operates in conflict areas such as Sagaing; they have called for it to be suspended. We found no equivalent freeze by Verra or Gold Standard.
What the registries show
On Verra and Gold Standard Myanmar is dominated by one cookstove programme from the Soneva Foundation, split into about two dozen small activities, and by mangrove restoration in the Ayeyarwady delta and around Yangon. Issuance to date is small. The biggest claim in the pipeline is an afforestation project in the Bago Region.
Where the credits have come from
| Project | Proponent | Type | Issued | Retired |
|---|---|---|---|---|
| Reforestation and Restoration of degraded mangrove lands, sustainable livelihoods and community development in MyanmarVerra VCS 1764 · Ayeyarwaddy | Worldview International Foundation | Wetland Restoration | 290k | 221k |
| GS1729 Myanmar Stoves Campaign - Soneva in Myanmar - VPA No. 011Gold Standard 1486 | Soneva Foundation | Cookstoves | 33k | 19k |
| GS1729 Myanmar Stoves Campaign - Soneva in Myanmar - VPA No. 010Gold Standard 1471 | Soneva Foundation | Cookstoves | 30k | 22k |
| GS1729 Myanmar Stoves Campaign - Soneva in Myanmar - VPA No. 007Gold Standard 1496 | Soneva Foundation | Cookstoves | 29k | 27k |
| GS1729 Myanmar Stoves Campaign - Soneva in Myanmar - VPA No. 012Gold Standard 1527 | Soneva Foundation | Cookstoves | 27k | 7,597 |
| GS1729 Myanmar Stoves Campaign - Soneva in Myanmar - VPA No. 009Gold Standard 1487 | Soneva Foundation | Cookstoves | 26k | 21k |
Credits issued and retired to date, Berkeley Voluntary Registry Offsets Database (2026-06 release).
The largest projects not yet issuing
| Project | Proponent | Status | Claimed t/yr |
|---|---|---|---|
| Myanmar Bago 2,450 acres afforestation projectVerra VCS 4178 · Bago Region | Color Park International Co., Ltd. | Pipeline | 3.1M |
| Restoration of degraded mangroves as a climate change mitigation and adaptation strategy in Asia CPA 1Verra VCS 3333 · Yangon and Mon | Multiple Project Proponents | Pipeline | 323k |
| Blue Carbon Mitigation through Community Based Mangrove RestorationVerra VCS 3818 · Yangon Bago and Mon State | Worldview International Foundation | Pipeline | 259k |
| GEAAI Biomass Power Plant (Myanmar)Gold Standard 4371 | Ecoeye Co., Ltd. | Pipeline | 250k |
| Korea - Myanmar Joint - Bago Region REDD+ Program, with North Zamari Wildlife SanctuaryVerra VCS 1848 · Bago Region | Multiple Project Proponents | Pipeline | 238k |
| Participatory Mangrove Restoration for Climate Action in MyanmarVerra VCS 5050 · Tanintharyi Region | Worldview International Foundation | Pipeline | 196k |
Claimed tonnes per year are the proponent's own estimate as filed with the registry, before validation.
Who is developing
Soneva Foundation's cookstove activities make it the largest developer by project count by a wide margin. Worldview International Foundation leads on mangroves.
| Developer | Projects | Registered | Pipeline | Types |
|---|---|---|---|---|
| Soneva Foundation | 25 | 25 | 0 | Cookstoves |
| Worldview International Foundation | 6 | 3 | 3 | Wetland Restoration |
| Ecoeye Co., Ltd. | 2 | 0 | 2 | Biomass |
| Newton Energy | 2 | 2 | 0 | Cookstoves |
| Color Park International Co., Ltd. | 1 | 0 | 1 | Afforestation/Reforestation |
| GEP (Myanmar) Co., Ltd. | 1 | 1 | 0 | Solar - Centralized |
| Charoen Pokphand Produce Co., Ltd. | 1 | 0 | 1 | Rice Emission Reductions |
| Timing Carbon Asset Management Co., Ltd. | 1 | 1 | 0 | Solar - Centralized |
| QK TS Pvt. Ltd. | 1 | 1 | 0 | Cookstoves |
| Differ Cookstoves | 1 | 0 | 1 | Bundled Energy Efficiency |
Developers grouped across registries and spellings by CarbonIntel. A project with several proponents counts for each.
Latest registry moves
- 2026-09-26220MWDC MINBU SOLAR POWER PLANT PROJECTRegistered → Crediting Period Renewal and Verification Approval Requested
What we are watching
- Whether the UN Supervisory Body acts on calls to suspend the Article 6.4 cookstove project.
- Any registry or buyer policy on authorisations issued by Myanmar's current government.
- Mangrove projects moving from pipeline to registration.
Every Myanmar project, with its status history
All 48 projects on the registries we read, each with its developer, status, and every change since we started reading.
Every registry move in Southeast Asia, weekly.
The Southeast Asia edition tracks every project in these guides, flags status changes the day they happen, and explains what they mean for buyers and developers.
Get the free weekly read →