Several large, growing economies — including China, India, Brazil, and Indonesia — have adopted or are planning national carbon markets. This major wave of market expansion could bring a significant share of global emissions under regulation for the first time. But the designs of these new markets often differ from what has been proven successful in the European Union: they are frequently intensity-based rather than mass-based, incorporate offsets within the compliance system itself, and extend to nature-based and non-industrial emissions to varying degrees. How can these novel market designs be built with integrity?
We discuss the path forward with leading experts, including Teresa Cristina de Melo Costa, Extraordinary Secretary for Carbon Markets at Brazil’s Ministry of Finance; Jamie Fergusson, Director for Climate at the World Bank Group; and Julia Strong, Founder and Executive Director of the Symbiosis Coalition.
