IETA’s annual report shines a light on carbon market evolution
GENEVA, 22 December – IETA’s 2022 GHG Market Report tracks the evolution of carbon markets through a series of issue-based articles tackling MRV, policy certainty, decarbonisation in emerging economies, scaling carbon markets, and technological innovations.
Carbon Markets 3.0 is structured around the first iteration of carbon markets, emerging ones, and the future of the carbon market. Articles include a reflection on the market’s transformation and lessons learned by carbon market pioneer Ken Newcombe, a look at how the EU ETS is reforming for future challenges, how South Korea is using emissions trading to balance a growing population and economy with environmental goals, the carbon pricing landscape in Colombia, and the technology that’s shaping the markets of tomorrow.
The report also includes The Business of Net Zero, a piece produced with Forbes on how businesses are transforming, and a profile of the Climate Action Data Trust, a blockchain-based data initiative from IETA, the World Bank and the Government of Singapore.
“This year has seen a wave of innovations to enhance the carbon market’s functioning as the world continues to transition to a net-zero trajectory, while existing markets also work out how they can rise to the challenges ahead,” says IETA President and CEO Dirk Forrister. “All of this is captured in this year’s IETA GHG Market Report.”
“The Paris Agreement includes a place for market mechanisms as they are a critical tool to reach our long-term environmental objectives in a cost-effective and efficient way,” he continues. “As technology and science evolves, so too will carbon markets, to ensure they deliver net-zero ambitions and drive the change society needs.”
Other highlights include the latest on Article 6, Japan’s unique approach to emissions trading, how the voluntary carbon market can be scaled up with integrity, and how China is approaching its data challenges.