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Carbon Market Platform

(Photo: BMUB)
(Photo: BMU)

In recent years, emissions trading schemes and carbon taxation, the two main carbon pricing in­struments, have become established in countries around the world. This global trend is, however, both uncoordinated and fragmented. There are still many regions and industry sectors in which emitters of greenhouse gases are not required to cover the costs of the damage caused by their emissions. And even where greenhouse gases are subject to carbon pricing, this does not always lead to the desired relocation of investment to­wards climate-friendly, sustainable products and services. There is still work to be done, therefore, to encourage wider use of carbon pricing. And there is an urgent need to improve both design and implementation of emissions trading schemes and carbon taxation programmes.

Against this backdrop, the “Carbon Market Platform” was launched under Germany’s G7 presidency in June 2015. The platform is designed to facilitate open and in­formed policy dialogue with the aim of intensi­fying use of market-based mitigation instruments and to strengthen international cooperation on market-based climate policy. The dialogue platform will assist UNFCCC negotiations and identify new approaches for an internationally coordinated process.

The main forum of the Plat­form is the annual strategic dialogue that will engage policymakers at the Director-General level, and be supported by ongoing work at the technical level. At a high-profile meeting in June 2016, participants from the G7 countries and also from Chile, Indonesia, New Zealand, Senegal, Switzerland and Vietnam exchanged views and experience on using international carbon markets and developing national carbon pricing instruments. A second Carbon Market Platform meeting was held in Rome in September 2017. A high point of this strategic dialogue involved exchange on the issue of how market-based instruments should be designed in order to raise ambition in climate change mitigation effort. During the dialogue, ways were identified in which the Carbon Market Platform can contribute to this process. Various levels of international cooperation – from coordinating standards and price corridors to linking – were also discussed. By promoting this kind of exchange between interested countries, the Carbon Market Platform serves in driving new forms of cooperation and in developing common carbon market strategies.

Carbon Market Platform

Laufzeit: 2015 - 2020

Kontakt: Malin Ahlberg

Further Information and Related News:
Providing Impetus - G7 initiate strategic dialogue on Carbon Markets