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DESCRIPTION: Tetra Tech’s Rodrigo Chaparro, senior climate advisor, looks at how the carbon finance options defined at the 2021 United Nations Climate Change Conference (COP26) can help cut greenhouse gas (GHG) reduction costs for power utilities and large energy consumers. Four Ways Development Agencies Can Advance Carbon Markets.
Though the VCM is made up of private sector actors and does not directly contribute to countries reaching their climate change mitigation goals under the ParisAgreement, it does indirectly contribute to overall higher climate change mitigation ambition,” said Refinitiv. “By Total issuances were 368Mt, up 65% on Q4 2020.
Furthermore, expansion to new sectors, faster cuts of the supply of allowances and other climate policies like EU’s fit-for-55 or COP26 adoption of Article 6 are pushing prices up. Notice that compliance and voluntary carbon markets have interlinked movements, as seen in the 2013 drop in both voluntary and compliance credits.
International cooperation is the goal of the annual Conference of the Parties (COP) and despite being dismissed as a failure, the final agreement at COP26 emphasized the importance of nature and ecosystems, including protecting forests and biodiversity. At COP26 the world took a step back from fossil fuels for the first time.
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