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CARBON OFFSET GUIDE 2019

GHG Management Institute

The Offset Guide is for companies and organizations seeking to understand carbon offsets and how to use carbon offsets in voluntary greenhouse gas (GHG) reduction strategies. It is also an educational resource for technical experts in academia and government. Further, this guide explains what role purchases of other environmental commodities, like renewable energy certificates (RECs) and emission allowances, can serve in claiming GHG emission reductions.

STATE OF THE VOLUNTARY CARBON MARKETS 2020

Forest Trends

The State of the Voluntary Carbon Markets reports have served as a consistent and comprehensive price discovery mechanism, while at the same time shedding light on the active project developers and intermediaries, thus answering fundamental questions about market dynamics, supply, and demand.
In this installment, we discuss key insights and findings garnered from Forest Trends’ annual 2020 Ecosystem Marketplace Carbon Survey cycle.

STATE AND TRENDS OF CARBON PRICING 2020

World Bank Group

This report provides an up-to-date overview of existing and emerging carbon pricing instruments around the world, including international, national and subnational initiatives. It also investigates trends surrounding the development and implementation of carbon pricing instruments and how they could accelerate the delivery of long-term mitigation goals. Specifically, this includes the use of carbon taxes, emissions trading systems and crediting mechanisms. International cooperation on carbon pricing and the status of work surrounding Article 6 of the Paris Agreement is also canvassed.

EMISSIONS TRADING WORLDWIDE - STATUS REPORT 2020

International Carbon Action Partnership (ICAP)

Extensive report with the latest developments in emissions trading around the world.
The report includes:
- Insights from policymakers and carbon market experts
- Infographics
- Factsheets on each system in operation, under development and under consideration

CARBON PRICING: THE PARIS AGREEMENT'S KEY INGREDIENT

IETA (2016)

The use of market mechanisms can help governments cut emissions even more than the minimum amounts offered in pledges under the Paris Agreement, according to a new report by IETA and Environmental Defense Fund.
With national leaders set to sign the Paris Agreement on 22 April and signalling their commitment to taking it forward, this new analysis highlights an important economic underpinning to its ultimate success. The paper analyses the 188 Intended Nationally Determined Contributions (INDCs) for the Paris Agreement and finds that 90 of these plans mention access to a carbon market will be needed to achieve the respective government’s goals. In several cases, the INDC specifies that a greater goal is possible, if market access and climate finance are available.

CARBON OFFSETTING AND REDUCTION SCHEME FOR INTERNATIONAL AVIATION (CORSIA)

International Civil Aviation Organization (ICAO)

CORSIA is a carbon offset and carbon reduction scheme to lower CO2 emissions for international flights, to curb the aviation impact on climate change.
CORSIA was adopted in October 2016. Its goal is to have a carbon neutral growth from 2020. CORSIA uses Market-based environmental policy instruments to offset CO2emissions: aircraft operators have to purchase carbon credits from the carbon market. Starting in 2021, the scheme is voluntary for all countries until 2027.

PARIS AGREEMENT - ARTICLE 6

UNFCCC (2015)

Article 6 has three operative paragraphs, two of which relate to carbon markets:

  • Article 6.2 provides an accounting framework for international cooperation, such as linking the emissions-trading schemes of two or more countries (for example, linking the European Union cap-and-trade program with emissions-reduction transfers from Switzerland). It also allows for the international transfer of carbon credits between countries.

  • Article 6.4 establishes a central UN mechanism to trade credits from emissions reductions generated through specific projects. For example, country A could pay for country B to build a wind farm instead of a coal plant. Emissions are reduced, country B benefits from the clean energy and country A gets credit for the reductions.

  • Article 6.8 establishes a work program for non-market approaches, such as applying taxes to discourage emissions. For this explainer, we will focus on the carbon markets elements of Article 6.

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