UN Should Seek to Insert Simplicity Into Too-Complex Carbon Markets: Peter Vis (1)

By Mathew Carr

The United Nations climate negotiations should seek to make the too-complex voluntary carbon markets more simple, said Peter Vis, a former leader in the European Commission’s climate unit.

He was speaking on a Net Zero Markets video webinar.

Vis had earlier in the meeting said that the voluntary carbon markets were too complicated and the EU was stepping back from them because of that. The EU was seeking to cut emissions within its own borders, but that might change in the future – it can’t be ruled out that the EU will import carbon credits at some point, he said.

UN oversight might help, he said.

The webinar asked participants when, if at all, will the voluntary and compliance markets merge. Three quarters said they would by 2050. 57% said they would by 2040. See this.

While I said “by 2030” in the poll, this seems unlikely given the delays in climate-policy making right now. I like to be hopeful.

Verra’s Antonioli, who heads the standard-setting group, said the voluntary market may become focussed on creating a supply of credits that fills global demand for credits that is over and above the demand implied by Nationally Determined Contributions (NDCs) of countries. At least, that’s my interpretation of what he said.

NDCs are country climate targets through 2050 and beyond under the Paris climate deal struck in 2015.

A playback of the event might appear here.

(Adds poll and additional sentences.)

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