North American Climate Summit (NACS) report

The IETA North American Climate Summit (NACS), co-hosted by the Carbon Markets Foundation, took place from 23-26 September 2024, coinciding with Climate Week in New York. This year’s summit featured an engaging agenda that fostered discussions among over 1,000 attendees from both public and private sectors regarding current and future trends in carbon markets. Key themes included the necessity of reforms in carbon market policies across North America, insights on evolving regulatory frameworks, and preparations for COP29 in Azerbaijan, with a focus on innovative financial strategies to encourage a transition to net-zero emissions.

The summit highlighted three main takeaways:

• First, the importance of strengthening carbon market frameworks to enhance market integrity and efficiency.
• Second, effective collaboration between jurisdictions and private sectors is crucial for mobilising investments in clean energy and decarbonisation.
• Third, prioritising a just transition is essential, ensuring that disadvantaged and vulnerable communities adversely affected by climate change receive support, and addressing social costs as emissions rise in the Global South by 2050.

Together, these discussions underscored the vital role of carbon markets in facilitating measurable climate action and equity for all stakeholders involved. Read the full report here.