Between now and the "next big crescendo" in climate talks, a growing patchwork of government programs and market players trucks onward. Consolidation continues, with ERA acquiring Offsetters and CCC before issuing REDD+ credits big time from its DRC project. Jurisdictional REDD+ starts to find its feet, as Forest Carbon explores forest carbon opportunities at the provincial level in Laos.
Between now and the “next big crescendo” in climate talks, a growing patchwork of government programs and market players trucks onward. Consolidation continues, with ERA acquiring Offsetters and CCC before issuing REDD+ credits big time from its DRC project. Jurisdictional REDD+ starts to find its feet, as Forest Carbon explores forest carbon opportunities at the provincial level in Laos.
This article was originally published in the V-Carbon newsletter. Click here to read the original.
Into the holiday season…
21 December 2012 | Before we survey the latest market news, Ecosystem Marketplace is surveying readers for their input on the “biggest” stories of 2012, and predictions for 2013 – to be published in our end-of-year special edition.
Negotiations moved slowly at the international level as the UNFCCC COP18 conference in Doha came to a close. Among the
On the “hot air” issue, unused AAUs will be eligible for carry-over into the second commitment period, to be stored in a surplus reserve account with limits on their transfer.
Negotiators put together an outline describing a new market mechanism that could complement the Kyoto Protocol’s existing mechanisms and have the capability of being rolled out to sectors – possibly REDD+ inclusive – whose credits could be used to satisfy pre-2020 Kyoto compliance obligations. The new market mechanism will be further fleshed out going into next year’s COP in Warsaw, Poland. Meanwhile, issues regarding REDD finance and the rigor of verification for credits
For market players, the annual cliffhangers of the UNFCCC process are taking their toll through continued price and policy uncertainty.
“Doha was challenging. Because of the way countries are feeling about the global economy, they weren’t really prepared to take bold steps,” said Dirk Forrister, CEO of IETA, on a post-Doha follow-up call. “The die was cast on that in Durban when they set up a negotiating plan to get the real answers in 2015, the big decision year.”
Leading up to 2015, Forrister noted 2014 as “the next big crescendo in climate negotiations.” UN Secretary-General Ban Ki-moon alluded to plans to convene a meeting of leaders in 2014 to elevate the climate agenda, and there was a reference in the final conference text whereby countries can improve their level of ambition in the Kyoto context by amending their commitments by April 2014.
Outside the UNFCCC process, nationally run or bilateral offset programmes are pushing onward while other market players consolidate, doing what they can to scale up mitigation efforts absent an international framework. These past two weeks, ERA Carbon Offsets Ltd took the voluntary carbon markets by storm – first with its
These and other stories from the voluntary carbon marketplace are summarized below, so keep reading! Note that we are still
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