HomeCarbon NewsThe Global Carbon Market – The Way Countries Should Trade

The Global Carbon Market – The Way Countries Should Trade

Countries are trading carbon through domestic means rather than going through a global market, as most goods do.

This provides each country with unique strategies when dealing with emissions. However, there isn’t a global unified solution on how to achieve carbon neutrality with domestic markets.

China recently launched its own carbon market. China’s plan covers 10,000 companies in most industrial sectors. The EU has also recently launched carbon pricing methods as well earlier this year.

This is fantastic news as tackling the Paris agreement’s goal of 1.5 degrees Celsius above normal temperatures by 2050 will take a global effort. China previous carbon plans increased the number of emissions covered by carbon pricing by 6%.

Both carbon unions have tremendous potential as the carbon ramp up continues. Currently, the EU aims to be carbon neutral by 2050. China wishes to do the same by 2060.

Unfortunately, many carbon markets remained unpriced and unregulated. The US has yet to release their plans regarding carbon pricing.

According to the World Bank, only 45 countries in the world have carbon pricing initiatives. To make a dent in climate change, that number will need to increase heavily.

After holes in the ozone layer appeared in the 1970s and 1980s, countries acted and banned Hydrofluorocarbons (HFCs), which depleted ozone. Now, the ozone layer is replenished and the ozone crisis is solved. If the world takes similar action regarding greenhouse gases and price carbon emissions through a global carbon market, we may see climate change being stopped in its tracks.

Most Popular
LATEST CARBON NEWS

US Power Demand Surge Spurs 133 New Gas Plants Amid Climate Targets

Nearly halfway through a decade critical for mitigating climate change, US utilities and investors plan to add 133 new natural gas-fired power plants to...

How Top U.S. Universities Cut Their Carbon Emissions to Help Fight Climate Change

With almost every nation endorsing the Paris Agreement, the goal is to limit global warming to below 2°C by reducing greenhouse gas (GHG) emissions....

Hydrogen Attracts Over $1 Billion in VC Funding Per Crunchbase Data

Hydrogen technology startups have secured over $1 billion in venture investment in the past four months, according to Crunchbase data. This already surpasses two-thirds...

C-Capture’s Innovative Carbon Capture Solution: A Game-Changer for the Cement Industry

C-Capture, the UK-based pioneer in carbon capture solutions, has initiated testing on a novel technology to reduce carbon emissions from cement production. This is...
CARBON INVESTOR EDUCATION

What Is COP28? Key Issues to Watch Out at 2023 Climate Summit

After a record-breaking year of devastating effects of climate change, from record wildfires in Greece and Canada to floods in Libya, the United Nations...

Climate Disclosure: New Corporate Standards for a Net Zero World

As part of the world’s continued efforts to combat climate change and transition towards net zero, one important piece of the puzzle is new...

Carbon Pricing: Understanding The Economics and Trends of Fighting Climate Change

As global temperatures continue to rise, the urgency surrounding climate policies has intensified, thrusting carbon pricing into the limelight of climate discussions. The race to...

The EU Corporate Sustainability Reporting Directive (CSRD): Key Things to Know

Companies operating in the European Union will have to deal with new non-financial and sustainability reporting requirements starting January 2024 with the EU's Corporate...