"Joe Biden unveils an ambitious plan for the climate, including an international summit in April."
Does Joe Biden's inauguration signal a shift in American environmental and international policy compared to the Trump era? It is possible if we consider the return of the United States to the Paris Agreement, a decision to limit fossil fuel emission with the objective to transition the energy sector and reach net zero by 2035 and reach global neutrality by 2050. The United States also wishes to go beyond the conventional frameworks and, in particular, the COP26 (International Summit of Environmental Negotiations) by organizing a summit for Earth Day on April 22, 2021. This marks the return of the United States to the game of multilateralism linked to international environmental negotiations. The next summits will make it possible to qualify this ideological change and see if it remains political announcements or a real commitment and implementation of actions in favor of climate defense.
Link to the Article: https://www.france24.com/fr/amériques/20210127-joe-biden-dévoile-un-plan-ambitieux-pour-le-climat-dont-un-sommet-international-en-avrilChina launches carbon emissions trading scheme.
If the most renowned carbon market is the European Union Emissions Trading Scheme, a new one has emerged: the Chinese Emissions Trading Scheme. This mechanism has been officially launched February 1st, 2021; however, it has been in the works for a few years and finally implemented a few weeks after Xi Jinping's pledge to make China carbon neutral by 2060. It is important to keep in mind that China remains the biggest polluter and will peak its emissions by 2030. Setting up such an ambitious goal might have a direct impact on all the countries' environmental policies worldwide and push them toward more profound commitments. In the next news, we will share with you how this market is evolving and what we could expect from it.
Link to the Article: https://www.rfi.fr/en/business-and-tech/20210201-china-launches-carbon-emissions-trading-schemeMIT Technology Review has published the Green Future Index
This tool is interesting since it helps users have a global overview of the different countries' situation and their alignment with the Paris Agreement Targets. The index is based on carbon emission, climate policy, and clean innovation development. It shows that Europe is the next most advanced region in terms of sustainable development.
Find all the data by clicking on this link: https://www.technologyreview.com/2021/01/25/1016648/green-future-index/Publication of the report: Taskforce on scaling Voluntary Carbon Markets
As a result of a coalition of private actors, this report provides elements to increase and strengthen the voluntary carbon offset market's effectiveness. This market has the particularity of being decentralized; no institution regulates its operation. In other words, this market is what the actors make of it. This report presents the market's current strengths and weaknesses to establish the market's 2030 and 2050 baseline scenarios. It also highlights 20 practices that would aim to increase the transparency and credibility of carbon credits. Among them is the need to establish fundamental principles and taxonomy of the product sold, the carbon credit, and the importance of multiplying the supply without affecting the quality of the credits generated and developing an independent institution in charge of overseeing the development of the market. The voluntary carbon market on which ClimateSeed operates remains small compared to the scale of the efforts needed to meet the Paris Agreement's objectives to limit global warming to less than two degrees compared to the pre-industrial period. Nonetheless, the growing mobilization of all economic actors suggests that the market will experience significant development and growth.
Link to the Report: https://www.iif.com/Portals/1/Files/TSVCM_Report.pdf