Guide aims to help countries to navigate uncertainties in markets to maximize carbon revenues while achieving climate responsibilities
(NEW YORK – September 27, 2024) – A group of economists and other experts from the Environmental Defense Fund (EDF) and Wildlife Conservation Society (WCS) today released a joint guide called “A Ministry Playbook for Corresponding Adjustment – Pricing strategies in carbon markets” outlining an initial set of key considerations to give confidence to national governments when evaluating complex tradeoffs between selling carbon credits in the Voluntary Carbon Market (VCM) or authorizing Corresponding Adjustments (CA) credits in compliance mechanisms. The guide aims to help countries with pricing strategies to maximize financial resources from the sale of carbon credits to reach their own economic development and climate goals while upholding the integrity of the Paris Agreement.
Background:
Dr. David McLaughlin, Senior Economist at EDF, co-author of the guide said, “As carbon markets mature, countries selling carbon credits have to navigate complex and far-reaching decisions both for pricing and the types of credits sold within the context of their own national circumstances. The methodologies we are proposing provide a roadmap for navigating this challenge and will help unlock finance where it is needed to reach our climate goals.”
Dr. Sarah M Walker, Director of Natural Climate Solutions, Wildlife Conservation Society said, “While carbon markets continue to evolve, they are expected to be a critical source of finance for a large majority of countries. We are excited that this guide provides a tool that enables countries to negotiate the price points they will need to meet climate commitments and foster sustainable development, providing another contribution to the solutions toolkit to support countries engagement in carbon markets.”
Find the full guide here.
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