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Networked Carbon Markets

Making the links between carbon markets in a post-Paris world

Thomas Kansy's picture



We are witnessing a pivotal moment in a decades-long effort to combat climate change. Last year in Paris, world leaders came together for the first time to commit to keeping global warming below 2°C. With the Paris Agreement in force and negotiators at COP22 in Marrakesh teasing out the details of implementing the Agreement, countries are developing their action plans (or Nationally Determined Contributions, NDCs) to reduce global greenhouse gas emissions. Part of this is looking at how carbon assets could be traded across borders.

Carbon markets in the Paris Agreement - an early holiday gift

Vikram Widge's picture
 Max Edkins / World Bank
COP21 conference center at Le Bourget, near Paris. Photo: Max Edkins / World Bank


Last Saturday, UN climate negotiators from 195 countries agreed on a historic climate change accord in Paris after two weeks of intense negotiations. While many of us were hoping for a hook that would support the use of markets, we were happily surprised to see the extent and detail on carbon markets that was ultimately included in the Paris Agreement.