23. Harmonization of carbon markets and carbon accounting standards
Harmonize carbon markets and accounting standards by fostering international alignment, promoting Mitigation Contributions and strengthening demand to enhance credibility and integration of carbon markets.
Case Studies
Québec’s Carbon Market: Financing Climate Action Directly
In 2013, Québec set up a Cap-and-Trade System for greenhouse gas emission allowances (C&T system) to fight climate change. In 2014, Québec linked its system to California’s, thereby creating the largest carbon market in North America and the first to be designed and managed by sub-national governments in different countries. This carbon market is a green fiscal tool that simultaneously allows for reducing GHG emissions and developing strategic sectors for the Québec economy (clean technology, energy efficiency, transportation electrification, etc.).
Integrating REDD+ Projects into Jurisdictional Programs in Brazil
Addressing challenges for nesting REDD+ projects in jurisdictional programs to scale up high integrity NCS credit generation in Brazil to help the country reach its full NCS mitigation potential