Acknowledgements

This working paper is an output of the OECD Environment Policy Committee (EPOC) and its Working Party on Climate, Investment and Development (WPCID). It is authored by Sofie Errendal, Jane Ellis and Sirini Jeudy-Hugo from the OECD Environment Directorate following a request from delegates of the Carbon Market Platform (CMP). The work was conducted under the overall supervision of Walid Oueslati, Acting Head of the Environment, Transitions and Resilience Division of the OECD’s Environment Directorate as well as Jo Tyndall, Director of the OECD’s Environment Directorate. The authors are grateful for the comments and suggestions received and any subsequent written comments from delegations of WPCID on 2 December 2022, from participants of the CMP Strategic Dialogue on 4 and 5 October 2022 and the Working Group meetings on 21 February and 19 May 2022. The authors are also grateful for written comments from CMP members and WPCID and JWPAE delegates, including Malin Ahlberg (German Federal Ministry for the Environment, Nature Conservation, Nuclear Safety and Consumer Protection), Tatsuya Arima, Kazuhisa Koakutsu, and Takayuki Shigematsu (Ministry of the Environment, Japan), Elspeth McGowan and Chris Shipley (UK Department for Business, Energy and Industrial Strategy), Wilhelmine Brown (Permanent Delegation of Australia to the OECD), Germain Laigle and Judy Meltzer (Environment and Climate Change Canada), Representatives from the Permanent Delegation of France to the OECD, Anthony Cawley (Department of Agriculture, Food and the Marine, Ireland), MyungHyun Kim (Ministry of Agriculture, Food and Rural Affairs, the Republic of Korea), and Kevin M. Adams (U.S. Department of State)

The authors would also like to thank OECD colleague Mariana Mirabile for her inputs to section 4. and for her comments on earlier drafts of this paper. In addition, the authors would like to thank Aimée Aguilar Jaber, Koen Deconinck, Gregoire Garsous, Ola Göransson, Guillaume Gruère, Ben Henderson, Raphael Jachnik, Izumi Kotani, Daniel Nachtigall, Walid Oueslati, Will Symes, Jonas Teusch, Hugo Valin, Kurt Van Dender, and IEA colleagues Luca Lo Re, Sara Moarif and Gabriel Saive for their comments on earlier drafts of this paper

The authors are grateful for input to section 5. from Sarah Säll, as well as formatting support from Charlotte

Raoult and Elodie Prata Leal

The authors gratefully acknowledge funding for the CMP’s work in 2022 from Germany (Federal Ministry for Economic Affairs and Climate Action); Japan (Ministry of the Environment); the UK (Department for Business, Energy and Industrial Strategy); and the United States (Department of State).

The responsibility for the content of this publication lies with the authors