By Karimeh Moukaddem, mongabay.com
June 06, 2011
The voluntary carbon market posted a 34 percent gain in 2010, trading a record 131 million tons of carbon dioxide equivalent (MtC02e). While the US accounted for the majority of trading activity, worth $424 million in total, market growth was strongest in developing countries.
The news comes from Back to the Future: State and Trends of the Voluntary Carbon Markets 2010, an annual report by Ecosystem Marketplace and Bloomberg New Energy Finance. Gathering data from almost 300 market participants, the report analyzes the voluntary carbon market’s organization and growth, as well as project types and buyer motivations.
The US remained the primary participant in voluntary carbon markets in 2010, offering more than one-third of carbon credits and purchasing nearly half of available credits. This is positive news for the US given that last year proved difficult for market participants: failure of the US federal government to act on climate change again contributed to the closure of the Chicago Climate Exchange (CCX) and smaller US markets. However, regional markets in California and the Western Climate Initiative withstood the pressure and gathered support from many US suppliers.
According to the report, the voluntary carbon market seems to be recovering from the economic downturn, and may even emerge stronger as a result of increased emphasis on corporate social responsibility.
"This is a return of sorts to the voluntary market’s roots and away from the pre-compliance buying that had been dominant of late as companies prepared for legislation that never came," explained Katherine Hamilton, the managing director of Ecosystem Marketplace.
The data shows that new buyers to the carbon market made investments in older, more stable areas such as renewable energy and offsets with a sustainable-development focus. But for experienced buyers, offsetting carbon through forest projects held the most promise.
REDD, a relatively new mechanism for trade in carbon that stands for Reduced Emissions from Deforestation and Degradation, accounted for 29 percent of documented emissions reductions in 2010. The innovative program aims to save and preserve endangered rainforest ecosystems along with their sequestered carbon, a proposal greatly strengthened by methodology guidance by the Verified Carbon Standard (VCS). VCS advice is responsible for a third of all credits traded in 2010. The growing strength of REDD in voluntary carbon markets provided a boon of opportunity to developing countries, particularly in Latin America, where offered credits doubled.
The number of project developers and buyers based in Asia, Latin America, and Africa more than doubled, reflecting shifting market dynamics directing investment to the developing world and the continual refinement of voluntary carbon market mechanisms.
Mostrando postagens com marcador State of the Voluntary Carbon Markets Report 2010. Mostrar todas as postagens
Mostrando postagens com marcador State of the Voluntary Carbon Markets Report 2010. Mostrar todas as postagens
Forest Carbon Standards // WWF
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REDD +,
State of the Voluntary Carbon Markets Report 2010
A plethora of different carbon standards exists today. A general frameworkneeds to be developed, to assess the credibility and effectivenessof these standards.
"...Forests are now widely recognised as playing a key role in regulating global carbon cycles, comprising as they do the largest terrestrial store of carbon. Deforestation and forest degradation – mostly in the tropics – are responsible for about 15 per cent of global greenhouse gas (GHG) emissions.1 Managing forest carbon stocks is therefore a critical component of any comprehensive approach to keeping the rise in global temperature well below 2 degrees Celsius.
Concerns about the climate change implications of deforestation have led to the development of numerous initiatives to try and harness the GHG reduction potential of efforts to reduce emissions from deforestation and forest degradation in developing countries (REDD). Some of these initiatives have focussed on developing projects for the voluntary carbon market.
This market has developed over recent years as more and more companies, governments, organisations and the general public are willing to offset their climate footprint through the funding of projects, including forest projects which reduce GHG emissions.
2 Even the inconclusive results of the United Nations Conference on Climate Change in Copenhagen do not appear to have negatively impacted the demand for forestry as a voluntary offset option.
3 Voluntary carbon offsets bring together the demand for compensation
of emissions from energy use with investors and project proponents who can deliver carbon emission reduction credits from forest projects. There is also a range of voluntary forest carbon activities that are aiming to reduce carbon emissions but are not ultimately seeking crediting or offsetting. These usually take place at a project or landscape level.
Alongside these voluntary carbon projects is an emerging set of national REDD programs and early actions to support the development of national REDD programs. In the context of the international climate negotiations, the concept of REDD has been expanded (and renamed REDD-plus) to address not only deforestation and forest degradation, but also the conservation of forest carbon stocks, the sustainable management of forests, and the enhancement of forest carbon stocks. While the Copenhagen
conference did not produce an international agreement on the post-2012 climate deal, it did move forward on developing REDD-plus..."
"...Forests are now widely recognised as playing a key role in regulating global carbon cycles, comprising as they do the largest terrestrial store of carbon. Deforestation and forest degradation – mostly in the tropics – are responsible for about 15 per cent of global greenhouse gas (GHG) emissions.1 Managing forest carbon stocks is therefore a critical component of any comprehensive approach to keeping the rise in global temperature well below 2 degrees Celsius.
Concerns about the climate change implications of deforestation have led to the development of numerous initiatives to try and harness the GHG reduction potential of efforts to reduce emissions from deforestation and forest degradation in developing countries (REDD). Some of these initiatives have focussed on developing projects for the voluntary carbon market.
This market has developed over recent years as more and more companies, governments, organisations and the general public are willing to offset their climate footprint through the funding of projects, including forest projects which reduce GHG emissions.
2 Even the inconclusive results of the United Nations Conference on Climate Change in Copenhagen do not appear to have negatively impacted the demand for forestry as a voluntary offset option.
3 Voluntary carbon offsets bring together the demand for compensation
of emissions from energy use with investors and project proponents who can deliver carbon emission reduction credits from forest projects. There is also a range of voluntary forest carbon activities that are aiming to reduce carbon emissions but are not ultimately seeking crediting or offsetting. These usually take place at a project or landscape level.
Alongside these voluntary carbon projects is an emerging set of national REDD programs and early actions to support the development of national REDD programs. In the context of the international climate negotiations, the concept of REDD has been expanded (and renamed REDD-plus) to address not only deforestation and forest degradation, but also the conservation of forest carbon stocks, the sustainable management of forests, and the enhancement of forest carbon stocks. While the Copenhagen
conference did not produce an international agreement on the post-2012 climate deal, it did move forward on developing REDD-plus..."
State of the Voluntary Carbon Markets Report 2010 >>> Business Wire
Source: Business Wire
Jun. 15, 2010 ShareThis
Report Finds That The U.S. Was The Largest Buyer And Seller Of Credits In The $387 Million Voluntary Carbon Markets in 2009
NEW YORK--(BUSINESS WIRE)-- 2009 was a tumultuous year for the voluntary carbon markets, which saw transactions equivalent to 94 million tons of carbon dioxide emissions reductions, a 26% drop compared to 2008, according to the fourth annual State of the Voluntary Carbon Market Report issued today by Ecosystem Marketplace and Bloomberg New Energy Finance. The total value of traded credits declined 47% to US$387 million in 2009 and the average price of an emission reduction was $6.5/tCO2e.
Although the economic downturn reduced offset purchasing for corporate social responsibility, the report notes significant growth in the pre-compliance segment of the voluntary markets. These are speculative credits bought in anticipation of a cap-and-trade program in the U.S., which accounted for the greatest market share of supply (56%) and demand (49%) of voluntary carbon credits in 2009.
Forest Trends’ Ecosystem Marketplace Director and report co-author Katherine Hamilton said; “Voluntary markets play a critical role in market innovation, and they are becoming more efficient and transparent as participants forge deeper connections with each other. It is encouraging that even with the dual hit of regulatory uncertainty and tightened budgets for offsetting in 2009, the industry has continued to evolve, forming linkages that create a more efficient market infrastructure.”
Bloomberg New Energy Finance Director and report co-author Milo Sjardin, said: “The economic recession had a marked impact on the part of the market primarily concerned with buying credits to offset emissions of companies and individuals. In contrast, expectations of a possible U.S. carbon trading program lifted the importance of the U.S., which figured as the largest buyer and seller in the market, and the most popular transactions were those that could count towards future compliance. However, with the current state of play of U.S. politics this situation is likely to be very different this year.”
The survey found a near doubling in the use of independent, third-party “registries,” which track ownership of offsets so that individual emission reductions are not counted twice. The survey identified 17 registries accounting for 51% of all voluntary offset transactions last year, while just 29% of transactions were listed with registries in 2008. The survey attributes the growth in registry uptake largely to the emergence of multiple registries spread across different regions, which issue credits and track ownership.
The most popular project types were those that destroy methane – a greenhouse gas that traps more than 20 times as much heat as carbon dioxide. These projects stand a good chance of being grandfathered into a U.S. compliance scheme, and they accounted for 41% of voluntary offset transactions in 2009. Forestry projects were next, at 24%, followed by renewable energy projects, at 17%. The U.S. took the lead from Asia this year as the source of the vast majority of offset credits (56%), followed by Latin America (16%) and Asia (12%).
This fourth annual “State of the Voluntary Carbon Markets” report is designed to give a market-wide perspective on trading volumes, credit prices, project types, locations, and the motivations of buyers in this market. Findings are based on data voluntarily reported by over 200 offset suppliers, as well as exchanges and registries.
The report is made available to the public without charge with support from Ecosystem Restoration Associates and Forest Carbon Group and sponsors Baker & McKenzie, Sustainable Carbon, Karbone, EcoSecurites, Orbeo, and Evolution Markets. For a copy of the report, please visit http://www.ecosystemmarketplace.com/
and http://www.newenergyfinance.com/
About Ecosystem Marketplace
Ecosystem Marketplace, a project of the non-profit organization Forest Trends, is a leading source of information on environmental markets and payments for ecosystem services. Our publicly available information sources include annual reports, quantitative market tracking, weekly articles, daily news, and newsletters designed for different payments for ecosystem services stakeholders. We believe that by providing solid and trustworthy information on prices, regulation, science, and other market-relevant issues, we can help payments for ecosystem services and incentives for reducing pollution become a fundamental part of our economic and environmental systems, helping make the priceless valuable.
About Bloomberg New Energy Finance
Bloomberg New Energy Finance is the world’s leading independent provider of news, data, research and analysis to decision-makers in renewable energy, carbon markets, energy smart technologies, carbon capture and storage and nuclear power. The group has staff of more than 130, based in London, Washington D.C., New York, Beijing, New Delhi, Cape Town, São Paulo, Singapore and Sydney.
Bloomberg New Energy Finance Insight Services provide deep market analysis to investors in wind, solar, bioenergy, geothermal, carbon capture and storage, energy efficiency and nuclear power. The group also offers dedicated services for each of the major emerging carbon markets: European, Global Kyoto, Australia and the U.S., where it covers the planned regional markets as well as potential federal initiatives and the voluntary carbon market. Bloomberg New Energy Finance Industry Intelligence provides access to the most comprehensive database of investors and investments in clean energy and carbon. The News and Briefing Service is the leading global news service focusing on clean energy investment. The group also undertakes custom research and runs senior-level networking events.
Jun. 15, 2010 ShareThis
Report Finds That The U.S. Was The Largest Buyer And Seller Of Credits In The $387 Million Voluntary Carbon Markets in 2009
NEW YORK--(BUSINESS WIRE)-- 2009 was a tumultuous year for the voluntary carbon markets, which saw transactions equivalent to 94 million tons of carbon dioxide emissions reductions, a 26% drop compared to 2008, according to the fourth annual State of the Voluntary Carbon Market Report issued today by Ecosystem Marketplace and Bloomberg New Energy Finance. The total value of traded credits declined 47% to US$387 million in 2009 and the average price of an emission reduction was $6.5/tCO2e.
Although the economic downturn reduced offset purchasing for corporate social responsibility, the report notes significant growth in the pre-compliance segment of the voluntary markets. These are speculative credits bought in anticipation of a cap-and-trade program in the U.S., which accounted for the greatest market share of supply (56%) and demand (49%) of voluntary carbon credits in 2009.
Forest Trends’ Ecosystem Marketplace Director and report co-author Katherine Hamilton said; “Voluntary markets play a critical role in market innovation, and they are becoming more efficient and transparent as participants forge deeper connections with each other. It is encouraging that even with the dual hit of regulatory uncertainty and tightened budgets for offsetting in 2009, the industry has continued to evolve, forming linkages that create a more efficient market infrastructure.”
Bloomberg New Energy Finance Director and report co-author Milo Sjardin, said: “The economic recession had a marked impact on the part of the market primarily concerned with buying credits to offset emissions of companies and individuals. In contrast, expectations of a possible U.S. carbon trading program lifted the importance of the U.S., which figured as the largest buyer and seller in the market, and the most popular transactions were those that could count towards future compliance. However, with the current state of play of U.S. politics this situation is likely to be very different this year.”
The survey found a near doubling in the use of independent, third-party “registries,” which track ownership of offsets so that individual emission reductions are not counted twice. The survey identified 17 registries accounting for 51% of all voluntary offset transactions last year, while just 29% of transactions were listed with registries in 2008. The survey attributes the growth in registry uptake largely to the emergence of multiple registries spread across different regions, which issue credits and track ownership.
The most popular project types were those that destroy methane – a greenhouse gas that traps more than 20 times as much heat as carbon dioxide. These projects stand a good chance of being grandfathered into a U.S. compliance scheme, and they accounted for 41% of voluntary offset transactions in 2009. Forestry projects were next, at 24%, followed by renewable energy projects, at 17%. The U.S. took the lead from Asia this year as the source of the vast majority of offset credits (56%), followed by Latin America (16%) and Asia (12%).
This fourth annual “State of the Voluntary Carbon Markets” report is designed to give a market-wide perspective on trading volumes, credit prices, project types, locations, and the motivations of buyers in this market. Findings are based on data voluntarily reported by over 200 offset suppliers, as well as exchanges and registries.
The report is made available to the public without charge with support from Ecosystem Restoration Associates and Forest Carbon Group and sponsors Baker & McKenzie, Sustainable Carbon, Karbone, EcoSecurites, Orbeo, and Evolution Markets. For a copy of the report, please visit http://www.ecosystemmarketplace.com/
and http://www.newenergyfinance.com/
About Ecosystem Marketplace
Ecosystem Marketplace, a project of the non-profit organization Forest Trends, is a leading source of information on environmental markets and payments for ecosystem services. Our publicly available information sources include annual reports, quantitative market tracking, weekly articles, daily news, and newsletters designed for different payments for ecosystem services stakeholders. We believe that by providing solid and trustworthy information on prices, regulation, science, and other market-relevant issues, we can help payments for ecosystem services and incentives for reducing pollution become a fundamental part of our economic and environmental systems, helping make the priceless valuable.
About Bloomberg New Energy Finance
Bloomberg New Energy Finance is the world’s leading independent provider of news, data, research and analysis to decision-makers in renewable energy, carbon markets, energy smart technologies, carbon capture and storage and nuclear power. The group has staff of more than 130, based in London, Washington D.C., New York, Beijing, New Delhi, Cape Town, São Paulo, Singapore and Sydney.
Bloomberg New Energy Finance Insight Services provide deep market analysis to investors in wind, solar, bioenergy, geothermal, carbon capture and storage, energy efficiency and nuclear power. The group also offers dedicated services for each of the major emerging carbon markets: European, Global Kyoto, Australia and the U.S., where it covers the planned regional markets as well as potential federal initiatives and the voluntary carbon market. Bloomberg New Energy Finance Industry Intelligence provides access to the most comprehensive database of investors and investments in clean energy and carbon. The News and Briefing Service is the leading global news service focusing on clean energy investment. The group also undertakes custom research and runs senior-level networking events.
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