Some of the schemes in the Compliance Carbon Market have been already operational for nearly two decades, evolving with the needs of the market and addressing the increasing goals to target climate action. Since then, the CCM has overcome several obstacles that have helped to increase the resilience and robustness of the market.
The economic crisis from 2008 and its recession was the first event that the early CCM had to survive. Thereafter, many structural reforms were implemented to shape a flexible but strong system. During the COVID-19 pandemic a more mature market was able to respond and operate as usual. Currently the world is facing a global energy crisis, which is rising energy prices and creating poverty. This is evidence of the large dependence on fossil fuels and showing that more efforts are required in the development and implementation of affordable low-carbon energies.
The CCM can play a decisive role to support governments to target their climate goals.