GFMA welcomes the publication of the final report from the International Organization of Securities Commissions (IOSCO) on Compliance Carbon Markets.
We agree that compliance carbon markets have an important role to play in the transition to a carbon-neutral world and the ability of countries to meet their greenhouse gas emissions reduction targets pursuant to the Paris Agreement.
As recognised by IOSCO, it is paramount that compliance carbon markets are underpinned by the same core principles that support any sound and robust regulated market including: (i) transparency; (ii) integrity; (iii) stability; and (iv) accountability.
A 2021 report by GFMA and Boston Consulting Group demonstrates how robust compliance markets can support mobilizing private capital. The report found Greenhouse gas emissions have increased by 50% over the last 30 years, with the world having warmed by approximately 1°C and an increase of 1.5°C expected within the next few decades. To limit a further temperature rise, a rapid scaling of carbon markets is required in order to mobilize an estimated $100—150+ trillion investment needed across sectors and regions.
Read more here.
– 17 July 2023 –