First Bulletin of the Latin American and Caribbean Initiative for the Carbon Market (ILACC).

The goal of the Latin American and Caribbean Initiative for Carbon Market Development (ILACC) is to boost the global competitiveness of carbon credits generated in the region by strengthening conditions for future voluntary and regulated markets and expanding their impact on job creation, income, new technologies, green business clusters, and poverty alleviation. Immediate actions by ILACC include conducting a regional diagnosis on the carbon market, launching the ILACC Carbon Market Observatory, forming the Scientific Council, and establishing the ILACC Regional Forum to enhance multi-sectoral collaboration for diversifying and expanding the base of climate projects generated in ALC. Within this initiative, ILACC will release three market intelligence bulletins and a strategic study on the relationship between the carbon market and private sector competitiveness in LAC throughout 2023. This first bulletin will provide a broad perspective on market concepts and macroeconomic data, including marketing mechanisms, prices, regulations, trends, etc.