“Do Fragmented Markets & Fragmented MRV Practices Matter?” asks LRQA’s Madlen King in latest IETA GHG Market Report published today

The International Emissions Trading Association (IETA) has today released its annual publication, IETA Greenhouse Gas Market 2013, offering in depth analysis of the major developments in carbon markets worldwide from contributors such as Shell, Rio Tinto, the US government and LRQA.

LRQA’s submission, written by Madlen King - LRQA Global Head of Climate Change and Sustainability - asks ‘Do Fragmented Markets with Fragmented MRV Practices Matter?’  Overall, the report captures the growing number of government actions to address climate change through market approaches, from the EU to California, China, South Korea, Kazakhstan, South Africa and elsewhere. Under current projections, almost a quarter of the world’s emissions will occur in jurisdictions where there is a carbon pricing policy in place. Despite setbacks in the US and Australia, this is remarkable progress for the concept of carbon pricing, which was first deployed barely a decade ago.

IETA President and CEO Dirk Forrister commented: “We are poised for a growth spurt in carbon pricing. IETA has shed light on these developments in this year’s report. Governments that have the desire to act are proceeding with market mechanisms as the most cost-effective policy tool available.”