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Commentary: the US Energy Transition Accelerator - a celebrity carbon market going nowhere

The US proposed a carbon market mechanism called the Energy Transition Accelerator (ETA) at the UN climate summit in 2022, then re-launched the same initiative last December saying it would be operational by Earth Day 2024. Given the program involves big-name organizations from Amazon to the World Bank, and boasts a “who’s who” of global climate policy as its advisors and coordinators, carbon market stakeholders were on the lookout on 22 April for news about its credits and transaction opportunities. Instead, the ETA is going nowhere.

Background: another global market approach? At COP27 in November 2022, former US Senator and presidential candidate John Kerry - who was then still the country’s special climate envoy - announced “a new partnership to catalyze private capital to accelerat...

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