China’s announcement of its emissions trading scheme launch marks a big shift in carbon pricing as the world’s largest cap-and-trade program moves from the European Union to the east. The National Development and Reform Commission, builders of the cap-and-trade program, have added forestry and land-use carbon offset methodologies, and in the already-operational Chinese provincial programs, the eight participating provinces accept forestry and land-use CCERs and three of them (Beijing, Fujian, Guangdong) created their own forestry methodologies.
Many other – developed and developing – countries that are taking concrete steps to reduce their emissions as part of their Paris Agreement pledges see both the role of markets and forests in keeping those actions cost-effective.
In 2016, our State of Forest Carbon Finance 2017 report tracked seven markets in development that have indicated they will include forest carbon, and 18 voluntary or compliance forest carbon markets already in operation. To learn more about the report findings, read the press release or the full report.
With best wishes for the holidays and 2018,