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Ecosystem Marketplace and the Taskforce on Scaling Voluntary Carbon Markets

Posted by Kejsi Ago on September 21, 2021

Below is an email from the Ecosystem Marketplace: A Forest Trends Initiative. 

Dear Friends, 

Today, we are so pleased to announce our new role as part of the Taskforce on Scaling Voluntary Carbon Markets’ new governance body. Michael Jenkins will serve as a member of the Senior Advisory Council, and our Ecosystem Marketplace initiative will be a Founding Sponsor. We join a diverse expert group; our shared mission is to ensure that markets keep growing with the highest level of quality and integrity possible.

Voluntary carbon markets’ recent rapid growth means this mission is all the more critical. This announcement comes a week after we published the latest State of the Voluntary Carbon Markets report, showing that markets are accelerating towards $1 billion in transactions in 2021. We celebrated this major milestone with 1,500 attendees from 76 countries in a seminal EM Insights Event together with our partners, supporters, friends, and network. Such significant growth positions the VCM as a serious player in green finance and an important tool for achieving the Paris Agreement's 1.5 C climate ambition.
As a leading and independent provider of transparency on market price and activity, we take seriously our responsibility to serve all market participants. This includes the companies investing in offsets to meet their climate commitments. It also includes stakeholders and communities in carbon credit-producing countries, who may be far from global financial centers but are central to achieving the Paris Agreement.
The Taskforce was initiated by Mark Carney in September 2020 as a private sector-led initiative working to scale effective and efficient voluntary carbon markets. Now, Taskforce Principals Bill Winters and Tim Adams will hand over leadership to the Governance Body Board, and work alongside us on the Senior Advisory Council. Taskforce Principal Annette Nazareth will join the Board.
The new Governance Body officially launches at COP-26 in Glasgow this November. Day One priorities for the Governance Body are to finalize a set of Core Carbon Principles and provide oversight of standard-setting bodies on adherence to those principles. We’ll also set threshold standards for the voluntary markets, provide a coordination function between individual bodies in the markets, and help drive a long-term strategic roadmap for scaling voluntary carbon markets.
Voluntary carbon markets are in a transitional moment. We look forward to working through the new Governance Body to guide the markets to deliver the highest quality and the greatest impact for both planet and people. We also look forward to sharing more with you as we move forward in this important new phase.

Michael Jenkins, CEO and Founding President
Stephen Donofrio, Director, Ecosystem Marketplace and Supply Change Initiatives
About Forest Trends' Ecosystem Marketplace
Ecosystem Marketplace (EM) is an initiative of the Forest Trends Association (FT), a 501(c)(3) organization founded in 1998. Forest Trends works to conserve forests and other ecosystems through the creation and wide adoption of a broad range of environmental finance, markets, and other payment and incentive mechanisms. Forest Trends does so by 1) providing transparent information on ecosystem values, finance, and markets through knowledge acquisition, analysis, and dissemination; 2) convening diverse coalitions, partners, and communities of practice to promote environmental values and advance the development of new markets and payment mechanisms; and 3) demonstrating successful tools, standards, and models of innovative finance for conservation.

EM believes that transparency is a hallmark of robust markets. Launched in 2005, the EM Global Carbon Hub is the world’s first and only independent international voluntary and compliance carbon offsets tracking, reporting, and knowledge-sharing mechanism. Globally recognized, EM drives market transparency, price discovery, and market participants’ understanding of supply, demand, and credit quality, including through recognition of core carbon and additional attributes including social, environmental, and biodiversity co-benefits that are “beyond carbon.”

The EM Global Carbon Hub is fueled by a growing global network of hundreds of EM Global Carbon Survey Respondents and is made possible with the diverse mix of support that we receive from Visionary Partners, Strategic Supporters, collaborators, and donors. With an unparalleled database that unifies carbon market data from the over the counter (OTC) and platform/exchange-traded markets, paired with rigorous research, EM is globally recognized as a leading source of decision-useful and trustworthy information on prices, regulation, science, and relevant issues on environmental services markets and climate finance. EM Data, Insights, and News have been used extensively by companies, journalists, investors, practitioners, natural resource agencies, and academics.

Now in its 16th year, EM will be continually making upgrades and adding new features to the EM Global Carbon Hub to drive radical transparency in the voluntary carbon markets (VCM) to meet growing interests for reliable, timely, and objective data and insights on VCM offsets transactions prices, volumes, and insights. The EM Global Carbon Hub will provide the needed tools and resources to enhance data collection – with this Global Carbon Survey Platform, and new accessibility capabilities – with the EM Data Intelligence & Analytics Dashboard (currently in beta testing), ensuring it will continue to deliver the best, most up-to-date, and robust data and analytics available.