Net zero ambitions shaping global carbon markets

GENEVA, 8 June – The world’s carbon markets are adapting to meet governments’ strengthened Paris Agreement goals and net zero ambitions, with changes over the past year captured in the new 2022 edition of IETA’s Carbon Market Business Briefs.

Climate negotiators are gathering in Bonn, Germany to progress talks on implementing the market provisions of the Paris Agreement. Meanwhile, over the past 12 months lawmakers have continued to develop new systems and reform existing ones to meet future goals, a trend that is expected to continue as 2030 draws ever nearer. The updated Business Briefs capture all developments in the 12 months to May 2022.

IETA’s Carbon Market Business Briefs is a collection of market summaries covering major news and developments across compliance-driven emissions trading, designed to offer executives a quick and accessible overview of all key components and trends in the world’s carbon markets.

These include briefs on developing markets in Singapore and Germany, the start of China’s national ETS, the latest on Australia’s Safeguard Mechanism, and planned reforms to the EU ETS. The updated collection is available now on the IETA website.

“For many countries, carbon markets will play a pivotal role in achieving net zero goals, as we are beginning to document in the Business Briefs,” says Dirk Forrister, IETA’s President and CEO.

“As both governments and the private sector ramp up their net zero ambitions, carbon markets will continue to grow and expand – we won’t reach net-zero without carbon pricing,” adds IETA Managing Director Katie Sullivan.

“There are some great strong foundations laid and we call on policymakers to keep building on these to deliver the future promised by the Paris Agreement.”

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 9 June, IETA will be hosting two free webinars as part of its IETA LIVE Series to discuss highlights from the updated Business Briefs and answer questions about carbon markets worldwide. The recordings will be available online after the events.