From the Editors
Itâ€™s that time of year again â€“ the time when we look back at the best (and worst) of the last 12 months. Weâ€™re not the only ones. People magazine named Matilda the Alien cat the most fascinating animal of 2015. Rolling Stone named Kendrick Lamarâ€™s â€œTo Pimp a Butterflyâ€ 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, â€œClimate Negotiators Deliver Win for Forests with Breakthrough in Bonn.â€ (We didnâ€™t let you vote for the Paris Agreement itself, assuming that would be the runaway winner.) In Carbon Finance, readers thought the launch of â€œStand for Trees: Forest Carbon for the Masses?â€ 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: â€œThings White People Like â€“ As Told by a Hadza Tribesman.â€
Itâ€™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. Thatâ€™s understandable. To quote the American baseball player Yogi Berra, who died last year, â€œItâ€™s tough to make predictions, especially about the future.â€ But many other carbon market actors rose to challenge, offering so many 2016 predictions that we couldnâ€™t include them all here.
Below are some excerpts from select 2016 predictions. The full-length version is worth reading and available here.
â€œâ€¦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.â€
- Edit Kiss, Director of Business Development and Operations, Althelia Ecosphere
â€œI 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 thatâ€™s still an incredibly important milestone.â€
- Zubair Zakir, Global Carbon Director, Natural Capital Partners
â€œThe biggest carbon story 2016 will be the involvementâ€¦of stakeholders not bound by the Paris Agreement: civil society, enterprises, cities, and financial institutions.â€
- Martin Clermont, Chief Executive Officer, Will Solutions
â€œCalifornia 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.â€
- The Conservation Fundâ€™s Carbon Team
â€œI 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.â€
- Brian McFarland, Director, Carbonfund.org Foundation
â€œThe 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.â€
- Sheldon Zakreski, Director of Risk Management, The Climate Trust
â€œWhile 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).â€
- David Antonioli, Chief Executive Officer, Verified Carbon Standard
â€œBecause the last generationâ€™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 â€“ 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!