This Week In V-Carbon: What Would Your Jurisdiction Do?
As CER prices continue their slump, voluntary and emerging markets debut alternatives to the CDM space. California issues the first allowances for its new compliance market, while Colombia hosts an inception workshop for its voluntary platform. New methodologies are out on wetlands and jurisdictional nested REDD (VCS) and truck stop electrification (ACR). Home weatherization generates renewed interest.
This article was originally published in the V-Carbon newsletter. Click here to read the original.
11 October 2012
Before jumping into the news, Ecosystem Marketplace is seeking your feedback for the upcoming State of the Forest Carbon Markets 2012
report (due in just a couple of weeks, so stay tuned!). This year, the report will list a small selection of interesting, diverse forest carbon offset buyers
in the private sector – to give readers a sense of what kind of companies seek forestry offsets.
Do you want to give some additional exposure to your buyer(s)? Know of a company we should mention, even if they’re not your clients? Send the company name to Daphne Yin
by COB Monday, October 15 for them to be considered (through an impartial, independent selection process) for listing in this year’s report.
The State of the Forest Carbon Markets 2012 will be public and freely available, thanks to support from the report’s Sponsors – Code REDD, Face the Future, the UK Forestry Commission's Woodland Carbon Code, Baker & McKenzie, and Kinship Conservation Fellows – and Supporters – Astrium Services and Conservation International.
As many offset suppliers reevaluate their investments in CDM projects against the projected plunge in CER prices through 2020, some are looking to the voluntary markets to hedge their bets. From Colombia to California, the voluntary carbon markets nurtured emerging markets and project types these past few weeks across the Americas – pushing forth methodologies left and right in forests and wetlands, as well as at truck stops and in weatherized homes.
Sitting down at Carbon Forum North America last week (program and presentation slides here), panelists at a REDD+ breakout session explored the role of the Verified Carbon Standard (VCS)'s Jurisdictional Nested REDD Initiative (JNRI) in providing a framework for reconciling project-level and jurisdictional activities, seeking adoption under emerging compliance markets. They acknowledged the role of other market players like Code REDD to engage policymakers in supporting JNR while building corporate demand for REDD projects. VCS formally released the JNR methodology last Thursday, available here.
JNR also crept into emerging market discussions in Bogotá, where Ecosystem Marketplace attended the inception workshop for Colombia's fledgling trading platform for voluntary carbon market transactions last week. We provide coverage on the new platform here with an interview with Carlos Leon Gómez from Fundación Natura, the organization spearheading efforts around the platform (formally known as the Mechanism For Voluntary Mitigation Of Greenhouse Gas Emissions).
Other new methodologies made their debut, with VCS releasing the first requirements for crediting wetlands restoration and conservation (WRC), and the American Carbon Registry (ACR) approving a groundbreaking offset methodology to quantify emission reductions achieved through truck stop electrification (TSE).
Elsewhere in the US, 17 states have signed on to the Carbon Trading Initiative launched by the National Association for State Community Services Programs (NASCSP), with proponents looking to tap into home weatherization carbon credits approved by VCS (not without controversy) as a potential means to finance energy retrofits – and entertaining the project type as a potential addition to the roster of offset protocols being considered to bandage offset undersupply in California's forthcoming cap-and-trade scheme.
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