May 2019 - Parties at last year’s climate conference in Katowice failed to agree on a rule book for market-based cooperation under the Paris Agreement. While this puts the final outcome of the Article 6 negotiations in limbo, market-based mitigation policies are spreading around the world. Carbon pricing initiatives at national and subnational level are being complemented by emerging international market schemes, the ICAO’s aviation offsetting scheme and a strategy to curb emissions in shipping that includes market-based measures.
This issue of the Carbon Mechanisms Review looks at these trends and presents related analyses and backgrounds: It briefly summarises last year’s COP and covers the ICAO’s aviation offsetting scheme and carbon pricing options for shipping. With reports on the Africa Climate Week and a meeting of the West African Alliance on Carbon Markets and Climate Finance (WAA), particular focus is placed on carbon market development in Africa. The issue is rounded off by an analysis of the first research conference specifically dedicated to carbon pricing, the Carbon Pricing Leadership conference held in Delhi.