The adoption of the Paris Agreement in December 2015 marked a major breakthrough in international action against climate change. This year's Greenhouse Gas Market Report, published by IETA, takes as its theme "Bridging the Ambition Gap: The Rise, Reach and Power of Carbon Markets." It celebrates the growing popularity of emissions trading systems by looking at the elements that will build the institutions of the Paris Agreement and new national markets.
"This year's report reflects on the importance of cooperation and collaboration. It focuses on how to prompt the next wave of market investments in support of the Paris Agreement by following through on the operational elements," says Dirk Forrister, CEO of IETA.
Caspar Chiquet, Director of Carbon Markets, South Pole Group, has contributed with an article on "Offsets Under The Paris Agreement" (pages 50 - 52), with focus on how offsets and their accounting treatment may be handled under the Paris Agreement. The Paris Agreement includes an article on cooperative approaches, transfer of mitigation outcomes, and a new offset mechanism: "I have summarized the main features of this article, and how it will enable international transfer of mitigation outcomes, including - but not limited to - offsets originating from a newly created mitigation mechanism under the Paris Agreement." says Caspar.
IETA's Greenhouse Gas Market Report is available to download below or on the IETA website.