Ringing in the New Year with a Forecast of the Top 10 Carbon Market Trends

Image credit: Flickr/Bureau of Land Management Oregon and Washington

When our team gathered together to discuss our predictions for the New Year, the room was filled with an overwhelming sense of positivity and anticipation to see what we could collectively accomplish in another year’s time.

The Climate Trust, a mission-driven nonprofit that specializes in mobilizing finance for conservation projects, announced its fifth annual prediction list of carbon market trends.

The trends, which range from the maritime industry following aviation’s lead in carbon reduction commitments to increased dismantling of federal agencies addressing climate change, were identified by The Climate Trust based on interactions with their diverse group of working partners—government, investors, project developers, corporates, and the philanthropic community.

“In the face of federal inaction, the momentum around climate action in 2017 was extraordinary,” said Sean Penrith, Executive Director for The Climate Trust. “When our team gathered together to discuss our predictions for the New Year, it quickly became apparent that despite the big lift ahead of the U.S. (and the world) related to climate change, the room was filled with an overwhelming sense of positivity and anticipation to see what we could collectively accomplish in another year’s time. We hope that sentiment is reflected in our forecast.”

1.    More links will be added to the cap and trade chain gang. North America has had two regional cap and trade markets operating the last several years, the Western Climate Initiative (WCI), involving California, Ontario and Quebec, and the Regional Greenhouse Gas Initiative (RGGI), involving nine northeastern states. Mexico has just crashed the party announcing in mid-December plans to launch a national mandatory market in August 2018. The list of jurisdictions linking up with cap and trade markets will only grow in 2018. New Jersey and Virginia are on a clear pathway to join RGGI, and several states that are already part of RGGI are considering expanding cap and trade to the transportation sector. Oregon is also poised to join WCI in 2018, as passing cap and trade legislation is one of the Governor’s top…

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