IETA is pleased to announce the publication of its annual Greenhouse Gas Market Report for the year 2016-2017.
This year’s report takes as its theme “Bridging the Ambition Gap: The Rise, Reach and Power of Carbon Markets.” It celebrates the growing popularity of emissions trading systems by looking at the elements that will build the institutions of the Paris Agreement and new national markets.
“This year’s report reflects on the importance of cooperation and collaboration. It focuses on how to prompt the next wave of market investments in support of the Paris Agreement by following through on the operational elements,” says Dirk Forrister, CEO of IETA. “This vital work of establishing institutions and rules gets underway next week in Marrakech.”
“There is a wealth of knowledge and experience built up in existing market mechanisms around the world, and we hope governments will look to these lessons as they start crafting the implementation details of the Paris Agreement.”
The report is introduced by Dirk Forrister, and contains keynote articles written by Jos Delbeke, the Director-General of the European Commission’s Climate Directorate and Vikram Widge, manager of the World Bank-IFC Climate and Carbon Finance Unit.
There are contributions from Swedish and Brazilian climate diplomats, considering the importance of the key Article 6 of the Paris Agreement to both emerging and developed economies.
This year’s report also contains articles that consider the role that accounting, offsets and forestry will play in the new system. There are also papers looking at key principles of emissions trading that should be considered when creating new cap-and-trade systems around the world.
The report looks at developments in key jurisdictions, including the US, where President Obama’s Clean Power Plan is held up by legal challenges, the EU, where lawmakers are considering reform of the bloc’s carbon market, and Africa, where potential is seen for the emergence of carbon pricing.
IETA’s Greenhouse Gas Market Report is available on the IETA website at www.ieta.org/ghgmarkets2016.