Environmental justice and neocolonial practices are deeply intertwined with the historical resource exploitation and ongoing inequities that take their roots from the global environmental challenges. As one of the contemporary challenges all countries suffer from, climate change is an urgent challenge of our time, causing disproportionate harm to both nature and human lives (IPCC, 2023). Aiming to overcome these inequalities, the United Nations (UN) introduced several frameworks, principles, and tools, and the carbon market mechanism is one of them. Carbon accounting mechanism is a financial tool that aims to balance the carbon emission of countries and compensate severe impacts of climate change on developing countries by channeling climate finance to help them implement adaptation and mitigation projects.