Call to action for Paris-aligned carbon markets
In June, during the Paris Finance Summit, the EU led by the European Commission, Spain, and France, unveiled a call to action on ‘Paris Aligned Carbon Markets’ with the goal of covering at least 60 percent of global emissions with carbon pricing mechanisms (compared to four per cent today) and allocating a proportion of the revenues to climate finance.
To allow domestic and international compliance markets and voluntary markets to further support the achievement of the Paris Agreement goals while providing much-needed financing for the joint climate and sustainable development challenge, the Call to Action for Paris Aligned Carbon Markets promotes the following ambitious actions: 1) Expansion and deepening of domestic carbon pricing and carbon market instruments; 2) Support to host countries for full implementation of the agreed rulebook for international compliance markets; and, 3) Ensuring high integrity in voluntary carbon market.
The European Commission will introduce the debate by presenting the Call to Action. This event convenes experts, policymakers, and market participants to delve into the importance of expanding regulated carbon markets in the context of climate change mitigation, while strengthening the quality and integrity of voluntary carbon markets.. It provides a comprehensive platform to discuss and compare the role of regulated and voluntary approaches in carbon trading. Attendees will gain insights into emerging trends and best practices for effective carbon market operation and how these markets contribute to the global effort to achieve a sustainable, low-carbon future. This event is a crucial step in advancing carbon market strategies and fostering global cooperation for a greener world.
Helena Viñes / Chair / EU Platform on Sustainable Finance
- Kurt Vandenberghe / General Director / DG Clima, European Commission
- Rachel Kyte / Co-Chair / Voluntary Carbon Markets Initiative
- Henry Stern / California State Senator / Gobierno California
- Manuel Pulgar Vidal / Global Leader Climate & Energy / WWF
- Jan Cornillie / Research Associate / European University Institute (EUI)
- Verena Ross / President European Securities and Markets Authority