We analyze the question of existence and uniqueness of equivariant momentum mappings for Poisson actions of Poisson Lie groups. A necessary and sufficient condition for the equivariant momentum mapping to be unique is given. The existence problem is solved under some extra hypotheses, for example, when the action preserves the Poisson structure. In this case, the problem is closely related to the triviality of the induced group action on the Poisson cohomology. This action is shown to be trivial whenever the group is compact or semisimple. Conceptually, these results rely upon a version of “Poisson calculus” developed here to make one-forms on a Poisson manifold induce a “flow” preserving the Poisson structure. In the general case, obstructions to the existence of an infinitesimal version of an equivariant momentum mapping are found. Using Lie algebra cohomology with coefficients in Fréchet modules, we show that the obstructions vanish, and the infinitesimal mapping exists, when the group is compact semisimple. We also prove the rigidity of compact group actions preserving the Poisson structure on a compact manifold and calculate the Poisson cohomology of the Poisson homogeneous space [Formula: see text].