We welcome the launch of the International Carbon Action Partnership’s (ICAP) Emissions Trading Worldwide Status Report 2024, which serves as a beacon of progress in our collective fight against climate change. This report highlights the growing global momentum behind Emissions Trading Systems (ETSs) as indispensable tools in addressing the climate crisis.
The findings of this year’s report are significant and affirm the increasing adoption of ETSs by governments worldwide, particularly in emerging economies. Notably, it highlights the emergence of new systems under development or consideration in countries like Argentina, Brazil, India, Türkiye, and Vietnam, signaling a tangible commitment to carbon pricing and emission reduction efforts. As we navigate the complexities of climate policy frameworks, ETSs stand out as pivotal mechanisms for driving down greenhouse gas emissions in a market-based manner. The report’s insights underscore the growing recognition of ETSs as essential components of comprehensive climate strategies, with 36 systems currently in force globally and an additional 22 in various stages of consideration and development.
It is encouraging to witness the recognition of emissions trading not only by developed economies like Canada and the European Union but also by emerging economies across Latin America and the Asia-Pacific region. From Brazil’s draft law proposal to Mexico’s pilot program and India’s outlined pathway, these developments showcase a shared commitment to fostering sustainable, low-carbon economies. Moreover, the report’s inclusion of key trends and factsheets on intensity-based ETSs reflects a nuanced understanding of evolving market dynamics and policy preferences. As we chart our course towards a more sustainable future, it’s imperative that we leverage such insights to inform robust, equitable and effective climate policies.
We applaud ICAP for its continued efforts in monitoring and disseminating crucial information on global ETS developments. As we look ahead, let us accelerate our transition towards a net-zero world, where emissions trading plays a central role in safeguarding our planet for future generations.
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