on the occasion of the One Planet Summit, government leaders of Canada, Chile, Colombia, Costa Rica, México, the Governors of California and Washington, and the Premiers of Alberta, British Columbia, Nova Scotia, Ontario and Quebec launched the Carbon Pricing in the Americas cooperative framework.
Verified Carbon Standard (VCS) joins CPLC
At the Verified Carbon Standard (VCS), we’ve been watching the advances of the CPLC with interest and are thrilled to join the community of climate leaders that this unique initiative brings together. We believe that now, more than ever, is a pivotal time to put a price on carbon and transform the global economy from one of unsustainable business as usual to one that is sustainable for people and the planet. As an organization, we develop and manage a number of certification frameworks to promote sustainability, including the VCS Program, the leading GHG crediting program in the voluntary carbon market. Active since 2007, the VCS Program has certified more than 1,400 projects that have collectively reduced or removed more than 230 million tonnes of GHG emissions from the atmosphere. We have also pioneered tools and approaches that have brought land-based activities, including REDD+, into the carbon markets.
VCS is excited to bring our long-standing expertise in running a greenhouse gas (GHG) crediting program and all that that entails (i.e., developing accounting methodologies, ensuring independent auditing, setting up transparent registries) to help shape the carbon pricing mechanisms of the future. Our work with governments and recent developments around carbon pricing suggest that carbon pricing mechanisms are starting to embrace an “open architecture” approach where various GHG crediting programs could help to provide the infrastructure needed to deliver emission reductions at scale. In California, we are one of three GHG crediting programs that help the state in the implementation of their landmark cap-and-trade program. In Colombia, VCS projects and the units they issue (Verified Carbon Units, or VCUs) have been recognized for use against the country’s recently implemented carbon tax. South Africa is considering a similar system, and the Carbon Offsetting Scheme for International Aviation (CORSIA) is considering recognizing GHG crediting programs that meet pre-determined criteria.
An open architecture approach to carbon pricing builds on the expertise and experience of current market players, rather than reinventing the wheel. We’ve already learned through trial and error that no one program or scheme can deliver the emission reductions we need to keep us at, let alone below, 2°C. The existing carbon market provides a great example of the benefit of diverse solutions, with each certification provider offering expertise that allows more types of projects to benefit from carbon pricing, be they forest conservation, windmills or cookstoves. In short, an open architecture approach taps into what is already working, and it means governments can get started with carbon pricing relatively quickly because the infrastructure and expertise already exists.
We are proud to join the Carbon Pricing Leadership Coalition and to apply our experience and expertise in voluntary and compliance carbon markets and jurisdictional-level carbon accounting to promoting a price on carbon. We look forward to working with all of the members to secure strong carbon pricing around the world.
London, November 8, 2017—At a Global Maritime Forum roundtable in London yesterday, the Carbon Pricing Leadership Coalition and global NGO Carbon War Room, worked with shipping leads from major global financial institutions to explore the challenges of decarbonization for ship financing.
With the launch of the report Preparing shipping banks for climate change: How can internal carbon pricing help ship-financing banks in risk management?, the two organisations called for shipping’s financial institutions to begin analysing and managing the risks created by the shipping industry’s imminent decarbonisation.
Putting a value on emissions can lower energy use, write Kenneth Gillingham, Stefano Carattini and Daniel Esty. In July, Yale became the first university to launch a carbon-price programme across its campus. More than 250 buildings, together accounting for nearly 70% of the institution's emissions, will be charged US$40 per tonne of carbon dioxide that they emit as a result of energy use. Buildings that reduce their emissions more than the average will receive a share of the funds collected.
Washington, DC, November 1, 2017 — More and more countries and sub-national jurisdictions are putting a price on carbon but the level of action must ramp up significantly to help the world meet its Paris Agreement targets, says a new World Bank report.
Launched just ahead of the UNFCCC’s Climate COP23 in Bonn, the annual review: State and Trends of Carbon Pricing 2017, presents good and not-so-good news.
A consultative dialogue was organized by the Carbon Pricing Leadership Coalition (CPLC) in collaboration with the African Development Bank, the UNFCCC and the German Ministry of Environment on Oct 5-6, 2017, to discuss the role and potential for carbon pricing instruments in African economies. It gathered about 25 public and private sector experts from various African countries, including Benin, Cameroon, Democratic Republic of Congo, Cote d’Ivoire, Ethiopia, Kenya, Senegal, South Africa, Zambia, and Zimbabwe.
Putting a price on carbon is becoming the new normal for major multinationals with almost 1,400 companies1 factoring an internal carbon price into business plans. This represents an eight-fold leap in take up in the last four years, compared to just 150 companies in 2014, and includes more than 100 Fortune Global 500 companies with collective annual revenues of US$7 trillion
The Greenhouse Gas Management Institute has partnered with The George Washington University to create a Graduate Certificate in Greenhouse Gas Management. This graduate program prepares students to contribute professionally to a low-carbon future.
Global Maritime Forum, Carbon War Room, the Carbon Pricing Leadership Coalition (CPLC), and University College London (UCL) today announced the launch of a Task Force on Decarbonizing Shipping. This industry-led initiative will develop tangible pathways for shipping’s decarbonization through five working groups, each focussed on a key area of the industry. Outcomes of the task force will be presented at the Global Maritime Forum’s inaugural summit in October 2018.
New platform to shape the future of global seaborne trade
The Global Maritime Forum is a global platform for high-level leaders from the entire maritime spectrum and aims to effect positive long term change for the industry and for society. A global group of 14 industry leaders are founding partners to the Forum.