–IETA to Take Charge of World Bank’s Carbon Warehouse
–UNFCCC Testing its Registries
By Mathew Carr
June 23-27, 2022 –Why should you care about the onset of better carbon markets?
Most importantly, these new programs under the Paris climate deal struck in 2015, as well as existing voluntary markets, are being seen by important developing countries as a way of plugging the shortfall in rich-to-poor funding that’s been slowing climate negotiations for three decades.
The climate negotiations have reached implementation stage. And not before time.
The market infrastructure is almost complete.
The number of climate-related disasters is, sadly, on the rise. The world is already commonly demonstrating temperature gains of 2C above pre-industrial times.
All that increases the chance of global or near-global collaboration that actually uses existing systems to lower the rate of the world’s greenhouse-gas production, which is set to reach yet another record this year.
Not only will collaborative markets provide a portion of the extra $1 trillion a year needed for the climate transition, they will permanently change existing markets that currently allocate capital around the global economy.
The fundamental economic structure of the world is finally going to be sending signals that prefer investments in clean energy over fossil fuels, despite the fraught geopolitical context.