Global carbon markets strengthen and expand, find IETA Carbon Market Business Briefs

GENEVA, 13 May – The past 12 months have seen new emissions trading systems planned and existing ones reformed to be fit for the future, as reflected in the 2021 updated catalogue of IETA’s Carbon Market Business Briefs.

The collection of market summaries captures major news and developments across compliance-driven emissions trading over the past year, offering business executives a quick and accessible overview of all key components and trends in the world’s carbon markets.

These include briefs on new markets in the UK and Washington state, the expansion of the Regional Greenhouse Gas Initiative in the northeast of the US, updates to Canada’s federal and provincial carbon market landscape, changes to South Korea’s cap-and-trade market, and reforms to the New Zealand Emissions Trading System. The updated collection is available now on the IETA website.

“Despite the broader turmoil of the past year, governments’ commitment to climate action hasn’t wavered, and the expansion of emissions trading to new jurisdictions and improvements to existing systems shows how this commitment is deepening,” says Dirk Forrister, IETA’s President and CEO. “Carbon markets can fuel the innovation the world needs as it seeks to recover from the COVID-19 pandemic in a clean, sustainable and healthy way.”

“Emissions trading is vital to realising ambitious net-zero climate targets of both governments and the private sector,” adds IETA Managing Director Katie Sullivan. “It’s encouraging to see the continued growth in carbon markets and enhanced ambitions around the world, and we call on policymakers to keep the momentum going to ensure we meet the goals of the Paris Agreement.”

First published last year, the IETA Carbon Market Business Briefs outline the coverage, deadlines, penalties, flexibilities, pricing/trading dynamics and other features for each market. The briefs provide commentary from local IETA members and partners on recent market developments and outlooks, including on policy decisions and price movements.

On 1 June, IETA will be hosting a free global webinar as part of its IETA LIVE Series to discuss highlights from the updated Business Briefs and answer questions about carbon markets worldwide. For more information and to register, please see our dedicated events webpage.