While some market participants are frustrated by the incrementalism of top-down international efforts, this issue is riddled with examples of bottom-up approaches to mitigation that many public and private sector actors are exploring. Plus, we want to hear from you about the top stories of the year.
NOTE: This article has been reprinted from Ecosystem Marketplace’s Voluntary Carbon newsletter. You can receive this summary of global news and views from the world of voluntary carbon automatically in your inbox by clicking here.
20 December 2011 | So Durban didn’t deliver the kind of clarity market participants were seeking around REDD. So LULUCF decisions didn’t include mandatory accounting of some major land-based emissions. So the boundaries of Kyoto Protocol commitments are increasingly EU-shaped.
While some market participants are frustrated by the incrementalism of top-down international efforts, this issue is riddled with examples of bottom-up approaches to mitigation that many public and private sector actors are exploring as compliance prices take a nose dive, and countries without carbon caps (ahem, U.S.) face down the prospect of setting targets under a future legally binding treaty.
From Oklahoma to Rio, new mechanisms are summarized below that aim to promote local low-carbon investment. In particular, Rio’s upcoming carbon exchange is the newest project from EcoSecurities co-founder Pedro Moura Costa, whose involvement spotlights the markets’ decidedly domestic turn.
This shift is also described in CarbonNeutral Company Managing Director Jonathan Shopley’s blog about the outcomes of the 2nd Voluntary and Compliance Markets Assembly held in Durban. Hosted by the International Carbon Reduction and Offset Alliance, the Carbon Markets & Investors Association and with content from Ecosystem Marketplace, national government representatives described their engagement with the voluntary carbon markets – and growing acceptance of the marketplace since the inaugural event in 2009.
But it isn’t always easy being locally green. For example, South Australia found it too tough to stick to its carbon neutral claims, while the US-based Chicago Climate Futures Exchange (cousin of the shuttered Chicago Climate Exchange) is facing a lawsuit for allegedly misrepresenting the value of trading privileges.
Meanwhile, consumer-facing offsets are the flavor of the day for programs like the Mutual, Corní¨r Bank’s new Climate Credit Card, and DJ’s Against Climate Change – all intended to renew attention to individual CO2 impacts in the new year.
And while the market turns the corner on another year, we’ll be ringing in 2012 with a special holiday edition of V-Carbon News. You or your company can be mentioned in the special edition by telling us what were 2011’s biggest success stories in the voluntary carbon world?
This reader poll narrows the playing field to a few big headlines – your response helps us highlight last year’s Top 10. Respond by January 2, 2012.
Finally, Ecosystem Marketplace is grateful to the latest supporters of its effort to publish the State of the Voluntary Carbon Markets report again in 2012: Entergy, Baker & McKenzie, Bosques Amazí³nicos (BAM), and third-party standards American Carbon Registry (ACR), the Gold Standard and Verified Carbon Standard (VCS).
These supporters join the ranks of other companies and organizations – including Camco, the CarbonNeutral Company, Forest Carbon Group, myclimate, the Santiago Climate Exchange, South Pole Carbon Assets Management and Terra Global Capital – that have pledged at least US$3,000 to support our research. Contact Molly Peters-Stanley by December 31, 2011, to add your name to our growing coalition of supporters.