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Countries are exploring innovative and cost-effective ways to reduce their greenhouse gas emissions and to accelerate investment into the deployment of low carbon technologies. Market-based policies are a proven way to achieve these aims by pricing carbon into private sector decision-making. In order to achieve the scale of necessary investment, we need to move away from project-based approaches such as the Clean Development Mechanism (CDM) to measures with national or regional coverage like emissions trading systems (ETS), sectoral crediting mechanisms and carbon taxes.
Valuable lessons can be learned from experience in designing and implementing existing market-based policies. By adapting best practice to local priorities, circumstances and economic structures, we can help ensure that new market mechanisms meet national objectives for emissions reduction, resource efficiency, energy security and sustainable growth.
Ricardo Energy & Environment’s experts have a proven track record of designing and implementing robust carbon market mechanisms in industrialised and developing countries to achieve environmental and economic progress. Our work brings together expertise on policy design, capacity building and technical expertise in industrial emissions abatement, renewable energy deployment, climate finance, measurement, reporting and verification, and inventory design. Please download our capability statement.
Our carbon market services include:
Examples of our work in this field include:
China - Energy Efficiency for World Bank
Ricardo Energy & Environment’s experts carried out a study on energy efficiency trading in China for the World Bank, including interactions with carbon pricing and renewable energy certificates. Drawing on international experience, we provided recommendations concerning policy objectives, scheme interactions, and examples of institutional arrangements and target setting approaches.