From the Editors
It’s that time of year again – the time when we look back at the best (and worst) of the last 12 months. We’re not the only ones. People magazine named Matilda the Alien cat the most fascinating animal of 2015. Rolling Stone named Kendrick Lamar’s “To Pimp a Butterfly” the best album. TIME named Fantastic Four the worst movie.
And, in a slightly different vein, our faithful Carbon Chronicle readers voted for their top Ecosystem Marketplace carbon story picks across three categories. In Carbon Policy, readers voted for our June 9th story, “Climate Negotiators Deliver Win for Forests with Breakthrough in Bonn.” (We didn’t let you vote for the Paris Agreement itself, assuming that would be the runaway winner.) In Carbon Finance, readers thought the launch of “Stand for Trees: Forest Carbon for the Masses?” in February was the biggest story. And in Human Dimension, the top reader pick was our story about the Tanzanian REDD+ project that led to secure land tenure for a hunter-gatherer tribe: “Things White People Like – As Told by a Hadza Tribesman.”
It’s also the time of year for predictions, and we do those, too. Some of you dodged the question, saying only that you thought Leonardo DiCaprio would win Best Actor. That’s understandable. To quote the American baseball player Yogi Berra, who died last year, “It’s tough to make predictions, especially about the future.” But many other carbon market actors rose to challenge, offering so many 2016 predictions that we couldn’t include them all here.
Below are some excerpts from select 2016 predictions. The full-length version is worth reading and available here.
“…We are looking forward to a very interesting couple of years for forest carbon, with increased market activity and bullish price movements on both the private (voluntary and pre-compliance) and public (government-to-government and institutional) sector side.”
- Edit Kiss, Director of Business Development and Operations, Althelia Ecosphere
“I think the Paris Agreement heralds not the end of people questioning the role of market-based mechanisms and carbon finance, but the beginning of the end, and that’s still an incredibly important milestone.”
- Zubair Zakir, Global Carbon Director, Natural Capital Partners
“The biggest carbon story 2016 will be the involvement…of stakeholders not bound by the Paris Agreement: civil society, enterprises, cities, and financial institutions.”
- Martin Clermont, Chief Executive Officer, Will Solutions
“California legislature will adopt formal reduction targets for 2030 and domestic forestry will continue to lead offset production and provide high quality cost-containment opportunities for regulated entities.”
- The Conservation Fund’s Carbon Team
“I believe the biggest carbon story of 2016 will be the initiation of rulemaking in California for the acceptance of international sector-based offsets, which will possibly start with REDD+ offsets from the state of Acre, Brazil.”
- Brian McFarland, Director, Carbonfund.org Foundation
“The efficacy of carbon trading will make a notable comeback in the US especially coming out of the Paris Agreement, as more states take another look at a quantity-based approach to limit their GHG [greenhouse gas] emissions. The force reawakens.”
- Sheldon Zakreski, Director of Risk Management, The Climate Trust
“While there will be a number of carbon market developments in 2016 coming on the back of the Paris Agreement, the piece de resistance will be the global Market-based Mechanism (MBM) being proposed by the International Civil Aviation Organization (ICAO).”
- David Antonioli, Chief Executive Officer, Verified Carbon Standard
“Because the last generation’s dream of a single international carbon market was not realized, many people in our field have trained themselves to believe that putting a price on carbon has failed. But ask any multinational emitter – they know that in fact a price on carbon is being implemented before our eyes."
- Jason Patrick, Managing Director, BioCarbon Group
More stories from the carbon markets are summarized below, so keep reading!