Markets working to support sustainable development

Oceania

New South Wales Greenhouse Gas Reduction Scheme (CLOSED)

The Greenhouse Gas Reduction scheme (GGAS) was a cap-and-trade mechanism designed to reduce the greenhouse gas emissions of electricity producers, retailers, high emitting industries and facilities. This included power generators, electricity retailers, large energy users (over 100GWh/year) and ‘market customers’ – facilities such as factories that take electricity supply directly from the national grid. 

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Global Sustainable Tourism Criteria

The Global Sustainable Tourism Criteria (GSTC) provides the minimum requirements that are designed to simplify and harmonise existing standards for sustainable tourism.

The criteria is based on decasdes of work and experience around the world and involved extensive consultation with stakeholders.

There are 37 criteria covering 4 topics - these are:

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Global e-Sustainability Initiative (GeSI)

The Global e-Sustainability Initiative (GeSI) is a voluntary industry-led initiative that brings together over industry partners to address sustainability in the ICT sector.

Launched in 2001 in partnership with UNEP, the Global e-Sustainability Initiative has 5 main areas of work:

Biodiversity offsets (Conservation Banking)

Biodiversity offsets are a form of conditional environmental financing. Like their more well-known cousin, carbon offsets, various parties (e.g. governments, companies or individuals) look to compensate the damage they cause in one location by benefitting bidoversity somewhere else. 

REDD+ Partnership

Reducing Emissions from forest Degradation and Deforestation (REDD) is a policy measure for mitigating climate change caused by loss of carbon in forest ecosystems. It uses a carbon emissions-offsetting structure that places an economic value on the safeguarding of forest carbon stocks and provides an incentive for investment in sustainabiity. 

About REDD+

At the UNFCCC conference in Poznan, Poland, negotiators reached a consensus that REDD activities should be broadened. The original two aims were to:

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Forest Carbon Partnership Facility (FCPF)

The Forest Carbon Partnership Facility is an initiative hosted by the World Bank and designed to assist ‘tropical and subtropical forest countries develop the systems and policies for REDD+’. REDD is an innovative market-based instrument designed to place value on standing forests and so reduce emissions from forest destruction and deforestation.

The FCPF has two main components:

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