This month in V-Carbon...
In parallel with the exodus of market participants from the Kyoto Protocol's Clean Development Mechanism, a whopping 80 percent of project developers and investors surveyed for Point Carbon's newly released Carbon 2013 report expressed interest in exploring the voluntary carbon markets as an alternative avenue.
Honing in on the above issue, Ecosystem Marketplace will very soon release its own cautionary report covering opportunities (albeit very limited) for compliance suppliers to sell or enter into the voluntary carbon markets. Stay tuned!
On to the news, project developers are cooking up new milestones in Africa with the recent registration of clean cookstove projects by ClimateCare in Ghana and Carbon Clear in Sudan – Sudan's first-ever registered carbon offset project.
The biggest deals announced this past month point to Peru, where Disney made a $3.5 million investment in the dually VCS/CCB-verified Alto Mayo REDD project developed by Conservation International, and Latam Airlines Group purchased 7,000 tCO2e in offset credits from the Campo Verde reforestation project developed by Bosques Amazonicos.
Taking a step back to look at the latest country-level developments, Costa Rica, China, Chile, and Mexico shared their market-based approaches to GHG emission reductions at the World Bank's Partnership for Market Readiness meeting last month in Washington, DC.
As for how markets might figure into GHG regulations here in the United States at the federal level, Ecosystem Marketplace provides a few reflections in response to a symposium hosted by Senator Tom Carper where panelists discussed options for GHG regulation within current Clean Air Act legislation, as well as prospects for the new carbon tax plans being incubated by Senators Barbara Boxer and Henry Waxman.
International Emissions Trading Association CEO Dirk Forrister noted there that while politically difficult, a new carbon tax bill would have advantages over existing regulations in providing legal stability and some basis for harmonization with carbon markets abroad.
"Part of the interest in these new carbon tax plans [supported by Senators Boxer and Waxman] is to allow discussion on options or proposals that might follow a path like Australia's, which began as a fixed price that looks like a tax and then shifts into an emissions trading program," Forrister said.
The landscape of US demand for carbon offsets could shift drastically within the next five years depending on if and when Congress provides clarity on how market provisions might fit into federal GHG regulations, and through impending linkages between members of the Western Climate Initiative, chiefly California – which is slated to review recommendations in April for inclusion of REDD offsets into its cap-and-trade scheme after the REDD Offset Working Group's workshop on jurisdictional linkage.
Keep reading below for these and more voluntary carbon market news items, hot off the presses. Here at Ecosystem Marketplace, we are transitioning from data collection to report-writing mode in order to bring you this year's State of the Voluntary Carbon Markets report. If you have not yet responded with data and wish to participate in the survey, please notify Daphne Yin. Visit our homepage for a map of our survey's geographic coverage and full list of respondents.
A special thanks to those organizations that have already contributed complete responses to our 2013 State of the Voluntary Carbon Markets survey, most recently including: Advanced Global Trading, Ag Methane Advisors, Appalachian Carbon Partnership, Bonneville Environmental Foundation, BP Target Neutral, BorgaCarbon Consultancy, Brighter Planet, C&D Consultores, Carbon Clear, Carbon-connect, CarbonSinkGroup, CARBONyatra, Carbonzero, CERPD, Climat Mundi, Climate Clean, Climate Friendly, Climate Neutral Group, Climate Partner, ClimeCo Corporation, CLP Wind Farms (India), Ducks Unlimited, E+Carbon, East Central Solid Waste Commission, Easy Carbon, Eco2librium, Ecoprogresso, egluro, General Carbon, GERES, Green Evolution, Greenfleet, Green Mountain Energy, GT Environmental Finance, GTE Carbon Trading, Guizhou Honor Carbon Asset Management Co, IdleAir, Impact Carbon, Instituto Ação Verde, Instituto Perene, Karbone, KDF Energy, Korea Energy Management Corporation, Less Emissions, Microsol, NativeEnergy, Nedbank Capital, Neutralize Carbono, Nexus-Carbon for Development, Pacific Carbon Trust, The Paradigm Project, Proyecto Mirador, Recast Energy, Sindicatum Sustainable Resources, SPVS, Sustainable Carbon, Uganda Carbon Bureau, WeAct, Wind to Market, and World Wide Carbon.
We are still $23K away from publishing our flagship report again this year! To financially support our report, please contact Molly Peters-Stanley, Ecosystem Marketplace Associate Director, at firstname.lastname@example.org.
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