Q&A with carbon markets and COP (Article 6, Improving Market Transparency and Quality, and Bright prospects) with Stephen Marketfrey, Director of Ecological Market Initiative, and Genevav Bennett, Director of Communications.
Genevav Bennett Peace Hello Stephen! COP26 starts this weekend. How are you doing now?
Stephen Donfrioio- Busy! After announcing last month that $ 20 billion will be spent on volunteer carbon markets in 2021, the eco-market space team is excited about our information and insights. This is from both returning stakeholders, if you are new to the carbon market.
I will be at COP for two weeks, with data and market developments across multiple panels (listed here – and looking for time to connect with any of the readers of this blog in Glasgow!) He seems to be able to understand. And all this time, the impact of climate change on our natural world has become so normal and commonplace that it cannot be ignored. It is now in the process of “climate change”.
In response, carbon credit sellers have updated their ecosystem market capitalization in their daily e-commerce accounting on demand. We have also extended the release date for two new versions of the Em Data Intelligence and Analytics Dashboard.
For our EM respondents, we are thrilled to be able to first create advanced data filters and tools to create customized views of business prices and rates and to provide meta record editions and pensions. In addition, we have updated our public dashboard version to fulfill our mission of providing public data, insights and information.
Article 6, which regulates carbon trade, is one of the last sections of the Paris Constitution, and the agreement must still be broken. What do we need to know about those negotiations?
A.D. In 2019 in Madrid, negotiations under Article 6 went a long way in designing a pretty strong and transparent system. But they are not complete, and we really saved a lot of hard work for COP26.
The issues to be negotiated are pretty technical, but the main thing is that we have to decide, first, how to keep accounting around the global reductions in order to avoid “double” countries and individual actors, and the second question is how to download CDM.
By the way, these issues only come to the forefront of the centralized trading system, the global carbon market. There is a clearer way for bilateral cooperation between national or regional carbon clubs.
There is a lot going on in these negotiations. We are hearing how countries are not interested enough, financially not enough, this country or that country is ruining everything. Article 6 How big is the agreement?
Two-thirds of the countries have said they will definitely use Article 6 to meet their NDCs. So it is important. I think there is a sense of urgency among most people at the negotiating table for this to happen.
Under Article 6, countries create incentives for them to go beyond their NDCs because they can sell that additional discount to other countries. That opens up a quick line for climate solutions.
Carbon marketing techniques help you find low-cost solutions. he said. Economic Analysis If you invest in climate change mitigation, you can double your demand for climate change at no extra cost.
Second, you will create a signal of interest that will attract more private investment to sustainable projects, which is important for sustainable development. This is a great opportunity to drive the wave of green finance to countries and places that need it.
Let me put you in place. Do we see a Article 6 agreement in Glasgow?
These are tough negotiations, but again this year there is a sense of urgency. But there is also the feeling that there must be a real deal or you will create all the gaps that will ruin Paris’s efforts. So there may be disagreements between adjustments and adjustments.
Many observers agree that no agreement is better than no agreement at all. In the meantime, Article 6 has not been resolved, especially since it can do a lot outside the framework of the United Nations.
Yes, the private sector does not seem to be waiting for UNFCCC. That has been a very interesting trend in the last two years. For me, it’s really a little unexpected – despite these delays, a global epidemic, many companies and cities and universities continue to hold the reins and move forward with their own action plans.
Absolutely – we are seeing a dramatic increase in demand in completely voluntary carbon markets.
Companies have set high net zero targets, and many are using carbon credits to withstand that five percent or more emissions. Such as emissions from a business trip, or from elsewhere in your supply chain and you do not have direct control.
In September, we estimate that this will be the first billion-year year for volunteer markets. There is more demand than we have seen in the sixteen years we have been in the market. And that has started to raise prices.
Personally, I think this is a good thing. We are seeing those who are willing to pay more to reduce emissions, and especially those who are willing to pay for all these other benefits, to save forests in the Amazon or get clean cooking stoves for families in Africa – which is especially good for women – or sustainable agriculture, and so on.
Carbon markets are becoming a major driver of sustainable development. I think all this time there is a focus on the technical issues of the Cop Negotiations or the market opportunities that everyone enjoys in London and New York.
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View points from expert analysis and comments from the forest trade team.
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