The Environmental Markets Lab (emLab) at UC Santa Barbara and the Environmental Defense Fund (EDF) are partnering to advance rigorous, policy-relevant economic research that strengthens carbon markets and accelerates cost-effective climate solutions. Our research portfolio examines how a nature-based compliance market (NBCM) could create a high-integrity supply of nature-derived emissions reductions. Our grant is focused on developing a model to simulate trading under different NBCM policy scenarios to answer questions such as: what countries offer the greatest potential supply of abatement through NBCMs? What are reasonable caps for countries implementing NBCMs? What nature-based solutions offer the greatest potential supply of abatement through NBCMs? Which existing compliance markets have the most to gain from linking to NBCMs? What are the gains from trade for each party to an NBCM? Additional support for this project would help accelerate model development and provide consistent analytical support that was previously not reflected in the budget. Tasks will include: ● Data collection: (1) gathering a database of marginal abatement cost curves for different nature-based abatement measures in different countries based on prior literature, (2) collecting information from existing compliance carbon markets to characterize market-specific demand, and (3) exploring if/how to incorporate the nascent field of ocean-based climate solutions into our analysis. ● Analytical support: supporting the incorporation of data into the modeling framework, including helping fine-tune the data structure to match the model infrastructure. Helping draft write-ups of methods and results.