Global Carbon Markets Face Upheaval as Nations Remake the Rules
Governments are waking up to the value of their forests and mangrove swamps in anticipation of a new, global carbon offset market.
Trees preserved in a forest conservation project in Zimbabwe.
Photographer: Cynthia R Matonhodze/BloombergThis article is for subscribers only.
The $2 billion market for carbon offsets is heading for a massive reset, as a growing number of sovereign governments announce their intention to tax, regulate or restrict trade in credits generated within their borders.
The details vary, but from Indonesia to Kenya to Honduras, the goals are the same: Governments want to retain more of the benefits of emissions-reduction projects, whether as revenue or as credit toward their own national climate goals.