EUCCC: Carbon Market Sub-working Group Position Paper 2023/2024

The Carbon Market Sub-working Group advocates for well-functioning and cost-effective domestic and international frameworks for greenhouse gas (GHG) emissions trading. It is a sub-working group of the European Chamber’s Energy Working Group and consists of 80 member companies that represent all aspects of the carbon market sector, including project developers, carbon funds, investors, lawyers, auditors and consultants, as well as financial institutions and companies under compliance obligations. The sub-working group seeks involvement in a carbon market that results in real and verifiable GHG reductions, while balancing economic efficiency with environmental integrity and social equity.

To deliver the Paris Agreement’s climate goals, the sub-working group advocates for market-orientated carbon pricing by:

  • seeking to strengthen the credibility and functionality of today’s carbon markets;
  • calling for wider market access to China’s carbon markets;
  • promoting accelerated growth of high-integrity, voluntary markets with globally harmonised trading rules;
  • fostering a framework for common, robust accounting rules to create a new, more ambitious international carbon trading mechanism; and
  • building a professional community and networks that can deliver a just transition to net zero in the longer term.

Please visit the EUCCC's website for full report