Carbon Credit Markets in Developing Economies: Institutional Evolution, Structural Barriers, and Economic Potential—Evidence from Ecuador
発展途上国におけるカーボンクレジット市場：制度の進化、構造的障壁、経済的可能性—エクアドルの証拠 (AI 翻訳)
Jorge Ruso, Diego Portalanza, Patricio Alvarez-Muñoz, Yoansy Garcia
🤖 gxceed AI 要約
日本語
エクアドルのカーボンクレジット市場をCDM、REDD+、自主市場にわたり分析。制度経済学の枠組みを用い、CDMではプロジェクトのわずか41%がCERを発行し、REDD+では約4950万ドルの成果支払いが行われた。国内自主市場は未発達で、法的確実性と透明な登録が課題。この研究はエクアドル初の統合的・整合性重視のクロスメカニズム分析であり、憲法改正とArticle 6準備への示唆を含む。
English
This study provides the first integrated, integrity-centered cross-mechanism analysis of Ecuador's carbon credit market, covering CDM, REDD+, and the voluntary carbon market (VCM). Using an institutional economics framework, it finds that under CDM only 41% of projects issued CERs (2.8 MtCO2e), while REDD+ generated ~USD 49.5 million in results-based payments. The domestic VCM is nascent due to constitutional constraints. The paper highlights the need for legal certainty, transparent registries, and credible benefit-sharing for Article 6 readiness.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
エクアドルのケースは、日本の二国間クレジット制度（JCM）や自主的クレジット市場（J-クレジット）運営にも示唆を与える。特に、炭素クレジットの品質保証と利益分配の透明性は、日本の国際協力や企業のカーボン・オフセット戦略において重要な論点である。また、Article 6への準備としての制度的枠組み設計の参考になる。
In the global GX context
Ecuador's experience offers lessons for global carbon market governance, particularly for forest-rich developing economies preparing for Article 6. The contrast between CDM performance and REDD+ results-based payments highlights the importance of mechanism design and legal certainty. This analysis is relevant for international climate finance discussions and voluntary market integrity debates.
👥 読者別の含意
🔬研究者:Provides a comprehensive cross-mechanism analysis of carbon markets in a developing country, useful for comparative carbon market governance research.
🏢実務担当者:Insights on carbon credit issuance rates and benefit-sharing challenges can inform corporate offsetting strategies and project development in similar contexts.
🏛政策担当者:Highlights constitutional and legal barriers to carbon market development; offers evidence for designing Article 6 readiness frameworks and domestic carbon pricing policies.
📄 Abstract（原文）
Despite two decades of participation in international carbon finance mechanisms and substantial forest carbon endowment, Ecuador lacks an integrated, cross-mechanism assessment of its carbon market trajectory. This study addresses that gap by applying an institutional economics framework to evaluate Ecuador’s experience under the Clean Development Mechanism (CDM), Reducing Emissions from Deforestation and Forest Degradation (REDD+), and the voluntary carbon market (VCM). Methodologically, the study applies a structured descriptive evidence synthesis drawing on four data corpora: UNFCCC/CDM registry records (IGES v13.7), official Ecuadorian legal and policy documents, program documentation for REDD+/GCF/LEAF/PECC, and peer-reviewed literature published between 2022 and 2025. Where figures diverged across sources, official registry values and disclosed payment records were prioritized. The principal findings are as follows: under the CDM (2006–2023), Ecuador registered 34 projects, of which only 14 (41%) issued Certified Emission Reductions (CERs) by 2020, accumulating 2.8 MtCO2e—below the global CDM issuance rate of approximately 57% and below ex ante projections for the 34 registered projects (only 8%). Under REDD+, results-based payments totaling approximately USD 49.5 million have been disbursed through the Green Climate Fund and the REDD Early Movers program, with an additional USD 30 million committed under the LEAF Coalition at USD 10/tCO2. Ecuador’s domestic voluntary market (PECC) is nascent, constrained by constitutional provisions limiting private appropriation of environmental services and by the 2024 presidential veto of proposed Organic Environmental Code reforms. The study concludes that Ecuador’s carbon market potential is real but contingent on legal certainty, transparent registries, conservative accounting, and credible benefit-sharing. This is the first integrated, integrity-centred cross-mechanism analysis for Ecuador, with implications for constitutional reform design and Article 6 readiness in forest-rich developing economies.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.3390/su18115349first seen 2026-06-15 04:56:33
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