The Carbon Market Institute (CMI) released its first International Carbon Market Update for 2024, providing the latest data and insights on global carbon pricing and policy, as well as the scale of investment driving billions towards decarbonisation.
Read the entire report: International Carbon Market Update market brief, February 2024
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The document titled “International Carbon Market Update” is a comprehensive market brief from February 2024, detailing global carbon pricing trends, policy and market trackers, and the outcomes of COP28 policy discussions. It provides insights into the operationalization of carbon markets globally, including the European Union, UK, New Zealand, Australia, Türkiye, China, the Americas, and the Asia Pacific region.
The document highlights the challenges and unresolved issues in implementing Article 6 market mechanisms of the Paris Agreement, the development of carbon pricing mechanisms, and the impact of international cooperation on climate finance, technology transfer, and capacity-building support for developing countries. It also discusses the role of bilateral agreements and the operational challenges faced due to the lack of consensus on Article 6 negotiations.
The International Carbon Market Update is conducive to the Carbonica initiative since it can positively impact the discussions with the various stakeholders (e.g., policymakers, industry experts, civil society, and farmers) engaged in the project. Therefore, it provides a basis for exploring carbon pricing mechanisms and understanding how they affect regional initiatives.
Overall, the update offers valuable insights into the current landscape of carbon markets and policies that guide Carbonica’s strategies.
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