Enhancing Carbon Pricing and International Carbon Market Readiness Through the Mitigation Action Assessment Protocol : Summary Report

Enhancing Carbon Pricing and International Carbon Market Readiness Through the Mitigation Action Assessment Protocol : Summary Report

Putting a price on carbon can be an indispensable part of a country’s strategy to reduce emissions in an efficient way. Furthermore, putting a price on carbon through international carbon markets can also offer significant cost benefits and enable...

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Bibliographic Details
Main Author: Partnership for Market Readiness
Format: Report
Language:English
Published: World Bank, Washington, DC 2021
Subjects:
CARBON PRICING
UNITED NATIONS FRAMEWORK CONVENTION ON CLIMATE CHANGE
INTERNATIONAL CARBON MARKET
CARBON TAX
CLIMATE CHANGE MITIGATION
GREENHOUSE GAS EMISSIONS
EMISSIONS TRADING
Online Access:http://documents.worldbank.org/curated/en/500111626846261681/Enhancing-Carbon-Pricing-and-International-Carbon-Market-Readiness-Through-the-Mitigation-Action-Assessment-Protocol-Summary-Report
http://hdl.handle.net/10986/36022
id okr-10986-36022
recordtype oai_dc
spelling okr-10986-360222021-07-28T05:10:47Z Enhancing Carbon Pricing and International Carbon Market Readiness Through the Mitigation Action Assessment Protocol : Summary Report Partnership for Market Readiness CARBON PRICING UNITED NATIONS FRAMEWORK CONVENTION ON CLIMATE CHANGE INTERNATIONAL CARBON MARKET CARBON TAX CLIMATE CHANGE MITIGATION GREENHOUSE GAS EMISSIONS EMISSIONS TRADING Putting a price on carbon can be an indispensable part of a country’s strategy to reduce emissions in an efficient way. Furthermore, putting a price on carbon through international carbon markets can also offer significant cost benefits and enable flexibility in achieving emission reduction targets. Article 6 of the Paris Agreement provides a potential basis for bottom-up carbon market linkage. Under the Paris Agreement, carbon pricing policies and international carbon markets are increasingly developed bottom up and are diverse in nature to accommodate countries’ domestic priorities. While this bottom-up development promotes innovation, the diversity of approaches reduces transparency between climate actions and increases the complexity of market integration. A standardized framework is needed to assess countries’ capacity building needs to participate in carbon pricing and international carbon markets. The World Bank initiated the development of the mitigation action assessment protocol (MAAP) in 2015 to drive meaningful assessment of diverse climate actions. Pilots results showed that MAAP provides a transparent and relatively easy-to-use framework to help countries identify strengths and opportunities for improvement. Future implementation of the tool will seek to address identified challenges such as collecting evidence, identifying capacity building priorities, and providing guidance on communication strategies. This report summarizes key findings and lessons learned from pilots. 2021-07-27T20:28:49Z 2021-07-27T20:28:49Z 2021-07-21 Report http://documents.worldbank.org/curated/en/500111626846261681/Enhancing-Carbon-Pricing-and-International-Carbon-Market-Readiness-Through-the-Mitigation-Action-Assessment-Protocol-Summary-Report http://hdl.handle.net/10986/36022 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Working Paper
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic CARBON PRICING
UNITED NATIONS FRAMEWORK CONVENTION ON CLIMATE CHANGE
INTERNATIONAL CARBON MARKET
CARBON TAX
CLIMATE CHANGE MITIGATION
GREENHOUSE GAS EMISSIONS
EMISSIONS TRADING
spellingShingle CARBON PRICING
UNITED NATIONS FRAMEWORK CONVENTION ON CLIMATE CHANGE
INTERNATIONAL CARBON MARKET
CARBON TAX
CLIMATE CHANGE MITIGATION
GREENHOUSE GAS EMISSIONS
EMISSIONS TRADING
Partnership for Market Readiness
Enhancing Carbon Pricing and International Carbon Market Readiness Through the Mitigation Action Assessment Protocol : Summary Report
description Putting a price on carbon can be an indispensable part of a country’s strategy to reduce emissions in an efficient way. Furthermore, putting a price on carbon through international carbon markets can also offer significant cost benefits and enable flexibility in achieving emission reduction targets. Article 6 of the Paris Agreement provides a potential basis for bottom-up carbon market linkage. Under the Paris Agreement, carbon pricing policies and international carbon markets are increasingly developed bottom up and are diverse in nature to accommodate countries’ domestic priorities. While this bottom-up development promotes innovation, the diversity of approaches reduces transparency between climate actions and increases the complexity of market integration. A standardized framework is needed to assess countries’ capacity building needs to participate in carbon pricing and international carbon markets. The World Bank initiated the development of the mitigation action assessment protocol (MAAP) in 2015 to drive meaningful assessment of diverse climate actions. Pilots results showed that MAAP provides a transparent and relatively easy-to-use framework to help countries identify strengths and opportunities for improvement. Future implementation of the tool will seek to address identified challenges such as collecting evidence, identifying capacity building priorities, and providing guidance on communication strategies. This report summarizes key findings and lessons learned from pilots.
format Report
author Partnership for Market Readiness
author_facet Partnership for Market Readiness
author_sort Partnership for Market Readiness
title Enhancing Carbon Pricing and International Carbon Market Readiness Through the Mitigation Action Assessment Protocol : Summary Report
title_short Enhancing Carbon Pricing and International Carbon Market Readiness Through the Mitigation Action Assessment Protocol : Summary Report
title_full Enhancing Carbon Pricing and International Carbon Market Readiness Through the Mitigation Action Assessment Protocol : Summary Report
title_fullStr Enhancing Carbon Pricing and International Carbon Market Readiness Through the Mitigation Action Assessment Protocol : Summary Report
title_full_unstemmed Enhancing Carbon Pricing and International Carbon Market Readiness Through the Mitigation Action Assessment Protocol : Summary Report
title_sort enhancing carbon pricing and international carbon market readiness through the mitigation action assessment protocol : summary report
publisher World Bank, Washington, DC
publishDate 2021
url http://documents.worldbank.org/curated/en/500111626846261681/Enhancing-Carbon-Pricing-and-International-Carbon-Market-Readiness-Through-the-Mitigation-Action-Assessment-Protocol-Summary-Report
http://hdl.handle.net/10986/36022
_version_ 1764484265746104320

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