The status of forest carbon markets in Latin America.

Tropical rainforests of Latin America (LATAM) are one of the world's largest carbon sinks, with substantial future carbon sequestration potential and contributing a major proportion of the global supply of forest carbon credits. LATAM is poised to contribute predominantly towards high-quality forest carbon offset projects designed to reduce emissions from deforestation and forest degradation, halt biodiversity loss, and provide equitable conservation benefits to people. Thus, carbon markets, including compliance carbon markets and voluntary carbon markets continue to expand in LATAM. However, the extent of the growth and status of forest carbon markets, pricing initiatives, stakeholders, amongst others, are yet to be explored and extensively reviewed for the entire LATAM region. Against this backdrop, we reviewed a total of 299 articles, including peer-reviewed and non-scientific gray literature sources, from January 2010 to March 2023. Herein, based on the extensive literature review, we present the results and provide perspectives classified into five categories: (i) the status and recent trends of forest carbon markets (ii) the interested parties and their role in the forest carbon markets, (iii) the measurement, reporting and verification (MRV) approaches and role of remote sensing, (iv) the challenges, and (v) the benefits, opportunities, future directions and recommendations to enhance forest carbon markets in LATAM. Despite the substantial challenges, better governance structures for forest carbon markets can increase the number, quality and integrity of projects and support the carbon sequestration capacity of the rainforests of LATAM. Due to the complex and extensive nature of forest carbon projects in LATAM, emerging technologies like remote sensing can enable scale and reduce technical barriers to MRV, if properly benchmarked. The future directions and recommendations provided are intended to improve upon the existing infrastructure and governance mechanisms, and encourage further participation from the public and private sectors in forest carbon markets in LATAM.

Promoting Cross-Regional Integration of Maritime Emission Management: A Euro-American Linkage of Carbon Markets.

Reducing greenhouse gas emissions from maritime transport is an urgent topic. Some regional emissions trading systems (ETSs), buoyed by the globalized market-based measures (MBMs) plan of the International maritime organization, have initially assessed the feasibility of including maritime emissions under compliance obligations. However, including maritime emissions (which are interjurisdictional) in the existing ETSs is controversial, and globalized maritime MBMs remain elusive. Therefore, this study designed a joint bilateral maritime carbon market (BMCM) model based on the European ETS (EU-ETS) and Quebec ETS (QC-ETS). The carbon costs, speed optimization, and marginal abatement costs of three container routes under BMCM were analyzed. The results show that this Euro-American linkage achieves adequate emission coverage on specific routes and generates acceptable carbon costs for charterers. This study yields a positive result for the equal division of ETSs' exercising competence in cross-regional maritime transport and provides evidence for sector-specific ETS links based on quantitative analysis.

A review contribution to emission trading schemes and low carbon growth.

In this study, the researchers focus on policy instruments that employ a market-based strategy to promote emission reduction, find the key spots and recent changing aspects in the field of Eemission Trading Systems (ETS) and Low Carbon Growth, and make suggestions for future studies. Making use of the bibliometric analysis, the researchers examine a sample of 1,390 research from the ISI Web of Science database to find research activity on ETS and low carbon growth between 2005 and 2022. Also, the researchers visualized the knowledge domains in this field using software like CiteSpace and R-Biblioshiny. The research unravels the most influential published articles and authors on their citations and publications and their location and significance within the network. The researchers further examined the recent themes, identified the barriers to developing literature in this field, and made recommendations for future research. Research on ETS and low carbon growth globally lack cross-border collaborations between emerging and developed economies. The researchers concluded the study by recommending three future research directions.