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  • 15 Nov 2016 6:27 PM | Anonymous member (Administrator)

    MARRAKECH, November 15 — At its Annual General Meeting yesterday in Marrakech, IETA named two new board members and announced the appointment of its first China Representative.

    Joining the board is Sung-Woo Kim, Regional Head of Climate Change and Sustainability in Asia Pacific at KPMG. Mr. Kim is a leader in the region on carbon markets and climate finance. He is also the first South Korean member of IETA’s board.

    “The appointment of Sung-Woo is an important signal for the South Korean carbon market,” Dirk Forrister, IETA’s CEO said today. “He has been an active member of our South Korean Working Group and is also active with the Green Climate Fund.”

    Also joining the board is Jeanne Ng, Director of Group Sustainability at China Light & Power. She is a former member of IETA’s council, and presently works with the association’s China Working Group.

    “China Light & Power is represented in a number of Asia Pacific nations,” Forrister said. “Jeanne will help us build Chinese carbon markets leadership in the future.”

    Meanwhile, IETA has appointed Li Min as its first China Representative from December 1. Li Min joins IETA from Blue World Carbon Capital, where she developed a strong understanding of China’s developing carbon market. Li Min also has extensive business development experience working in the Kyoto Protocol’s Clean Development Mechanism.

    Min Li also has valuable experience of working with China’s NDRC on the country’s Agenda 21. More recently, she worked with GTZ on capacity-building in China.

    “We’re very pleased to have Li Min joining us at such an important time for China’s emissions market,” Dirk Forrister, IETA’s CEO, said today. “A new system will need time to grow and develop, and we’re confident she will help IETA to be a robust advocate for the Chinese market going forward.”

    The meeting also reappointed the following Council members:

    • Scott Weaver – AEP
    • Paul Dawson – RWE
    • Christine Faure-Fedigan – Engie
    • David Hone – Shell
    • Abyd Karmali – Bank of America / Merrill Lynch
    • Rick Saines – Baker McKenzie
    • Jonathan Shopley, Natural Capital Partners
    • Ed Ma – Suncor Energy

    IETA will also announce the appointment of a new EU Policy Director in the near future.

    The Association’s Council also decided to honour three new IETA fellows for their contribution to the organisation and its mission.

    John Kilani, the former Head of Sustainable Development Mechanisms at the UNFCCC;

    Bruce Braine, former vice-president of American Electric Power and a former chairman of the board of IETA; and

    Ken Newcombe, formerly of the World Bank, Climate Change Capital and Goldman Sachs.


  • 10 Nov 2016 9:16 PM | Anonymous member (Administrator)

    MARRAKECH, November 10 -- The International Emissions Trading Association (IETA) and the Climate Markets and Investment Association (CMIA) are delighted to recognise the International Civil Aviation Organisation as their first Carbon Pricing Champion of 2016.


    The award, sponsored by Ecosphere+, was presented at a ceremony in Marrakech.


    Last month, ICAO member nations agreed to create the Carbon Offsetting and Reduction System for International Aviation (CORSIA), the first global, sectoral carbon pricing system.


    The agreement in Montreal in October was the culmination of years of work, and sets a goal for the aviation industry worldwide of carbon-neutral growth from 2020 onwards.


    “This new market will provide a real source of demand for offsets at a time when the markets need to see strong signals from buyers,” Jeff Swartz, international policy director at IETA, said today.


    “CORSIA involved hard work from governments, the private sector and with civil society to provide an outcome that’s good for the planet and good for market-based approaches to reduce emissions. We look forward to working with ICAO on implementing the CORSIA.”


    Margaret-Ann Splawn, executive director of CMIA, said: “CORSIA is proof of the ability to establish a global sectoral mechanism rather than a purely national market. This new market creates demand for high-integrity offset standards above and beyond those recognised by other cap-and-trade systems such as the CDM. This creates the pathway to expanding the reach of where emissions reductions can come from.”

  • 09 Nov 2016 10:42 PM | Stephanie Olegario (Administrator)





    Marrakech, 9 November — IETA and the Climate Markets and Investors Association (CMIA) today released a joint statement supporting the inclusion of emissions offsets from Reduced Emissions from Deforestation and Forest Degradation (REDD+) projects in the new market mechanism being developed by the International Civil Aviation Association (ICAO).

    IETA and CMIA are pleased that ICAO’s Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) seems likely to make REDD+ projects eligible for airlines to use in meeting their obligations under the mechanism.

    However, the two organisations are concerned that there is no clarity yet on the scale or manner in which REDD+ credits may be used.

    IETA and CMIA call on ICAO to allow REDD+ projects into its market system as soon as possible, to allow the development of REDD+ projects on a wider scale. At present only a very few countries have implemented REDD+ to generate credits on a national scale.

    Please click here to read IETA and CMIA’s position, and makes the case for early inclusion of REDD+.

  • 09 Nov 2016 1:12 PM | Anonymous member (Administrator)

                                                            

    Marrakech, November 9 -- IETA and the International Air Transport Association (IATA) have entered into a Memorandum of Understanding to cooperate in the development and delivery of a series of regional workshops for airlines on compliance with the Global Market-Based Measure (GMBM) that was agreed by the ICAO last month.


    A series of five workshops will be held around the world in February and March 2017, at which experts and industry participants will discuss preparations for the world’s first sectoral carbon market mechanism.


    ICAO’s Carbon Offsetting and Reduction System for International Aviation, known as CORSIA, will cover growth in CO2 from international flights from 2020, starting with a voluntary scheme and moving to a mandatory system after six years. The CORSIA is expected to cover over 80% of the growth in CO2 from the sector from 2020 by requiring operators on those routes taking part in the scheme to offset emissions through approved carbon reduction projects. More information is available here.


    IATA Director of Aviation and Environment, Michael Gill said: "Over 80% of the growth in international aviation CO2 will now be covered by the CORSIA. This global commitment to aviation sustainability is being matched by airlines who are already undertaking significant efficiency measures to drive down CO2 emissions. The cooperation agreement between IATA and IETA to build capacity and carbon-offsetting understanding is an important step to helping airlines prepare for the implementation of the CORSIA in the next few years.”


    “In addition, by working closely with ICAO in the area of capacity building, I am confident we can also increase the level of voluntary commitments to this comprehensive and environmentally robust global offsetting scheme."


    The IATA/IETA workshops are aimed at helping to develop understanding of the emerging principles that will govern CORSIA, and allow industry participants a chance to share experiences and jointly develop approaches to achieving compliance.


    “The advent of ICAO’s market mechanism demonstrates the appeal of carbon pricing as an efficient tool to manage greenhouse-gas emissions,” Dirk Forrister, CEO of IETA said. “The aviation industry faces new opportunities and challenges, and IETA is committed to making a success of CORSIA. Our members have many lessons-learned to share from the early experiences in carbon markets. "


    The two-day workshops are scheduled to take place in Singapore, Nairobi and Casablanca in February 2017, as well as Geneva and Miami in March 2017.


  • 03 Nov 2016 6:43 PM | Anonymous member (Administrator)

    IETA is pleased to announce the publication of its annual Greenhouse Gas Market Report for the year 2016-2017.

    This year’s report takes as its theme “Bridging the Ambition Gap: The Rise, Reach and Power of Carbon Markets.” It celebrates the growing popularity of emissions trading systems by looking at the elements that will build the institutions of the Paris Agreement and new national markets.

    “This year’s report reflects on the importance of cooperation and collaboration. It focuses on how to prompt the next wave of market investments in support of the Paris Agreement by following through on the operational elements,” says Dirk Forrister, CEO of IETA. “This vital work of establishing institutions and rules gets underway next week in Marrakech.”

    “There is a wealth of knowledge and experience built up in existing market mechanisms around the world, and we hope governments will look to these lessons as they start crafting the implementation details of the Paris Agreement.”

    The report is introduced by Dirk Forrister, and contains keynote articles written by Jos Delbeke, the Director-General of the European Commission’s Climate Directorate and Vikram Widge, manager of the World Bank-IFC Climate and Carbon Finance Unit.

    There are contributions from Swedish and Brazilian climate diplomats, considering the importance of the key Article 6 of the Paris Agreement to both emerging and developed economies.

    This year’s report also contains articles that consider the role that accounting, offsets and forestry will play in the new system. There are also papers looking at key principles of emissions trading that should be considered when creating new cap-and-trade systems around the world.

    The report looks at developments in key jurisdictions, including the US, where President Obama’s Clean Power Plan is held up by legal challenges, the EU, where lawmakers are considering reform of the bloc’s carbon market, and Africa, where potential is seen for the emergence of carbon pricing.

    IETA’s Greenhouse Gas Market Report is available on the IETA website at www.ieta.org/ghgmarkets2016.

  • 23 Oct 2016 11:40 PM | Anonymous member (Administrator)

    Melbourne/London, 24 October - A new report by the Carbon Market Institute and the International Emissions Trading Association has encouraged the Australian Government to use its 2017 climate policy review to align climate policy implementation with the development of international carbon markets.

    The recently released Optimising Australia’s Position in International Carbon Markets report, recommends that the Australian Government’s policy review should consider the opportunities presented by use of international emissions units, by linking to other markets and open up the prospect of export of  Australian Carbon Credit Units (ACCUs).

    “The Paris Agreement has set the stage for action on climate change into the second half of the century, and there now exists for Australia an opportunity to optimise its position in international carbon markets as they rapidly evolve”, says Dirk Forrister, President & CEO of the International Emissions Trading Association.

    “Of the 189 nations signatory to the Paris Agreement more than 90 have highlighted that their level of commitment is conditional upon having access to international carbon markets”, notes Forrister 

    “Australia has already expressed its support for the use of market mechanisms to combat climate change. At the COP22 meeting in Paris in December 2015, Australia supported the Ministerial Declaration on Carbon Markets that was endorsed by 17 other countries”, says Peter Castellas, CEO of the Carbon Market Institute.

    The report examines the provisions of the Paris Agreement, key policies enacted by other major emitters and the implications of these measures for Australian trade, including the impact of trade competitiveness and the prospects for the development of an export market for Australian carbon credits. 

    ‘There are many international and domestic factors influencing the development and design of global carbon markets, and these will have increasing impacts on the Australian economy in coming years”, says Castellas.

     “The 2017 policy review is an opportunity for the Australian Government to consider how the fungibility of ACCUs into other jurisdictions could realise a strong source of foreign demand for domestic abatement”, says Castellas.

    The report highlights how  the use of carbon credit instruments from other jurisdictions might support meeting Australia’s domestic targets under a tightening of domestic policies. 

    “The use of international units in Australia, under the safeguard mechanism, could bring a number of benefits in meeting compliance obligations,” says Castellas.

     “As the world shifts towards low-carbon development, Australia’s energy-intensive, export oriented economy will become increasing exposed to markets where there is an explicit carbon price; a changing fossil fuel energy mix; and competition from countries whose policies may not be in alignment”, says Forrester.

    “The Paris Agreement surprised many with the strength of its commitment to market mechanisms as a tool to combat climate change. In this next phase, the global community will need to work together to maximise the potential for markets, and ensure that this process is carried out in a timely manner to guarantee as much predictability as possibility”, says Forrester.

    “The task remains for individual Parties to decide how to build and link markets, and how to ensure they achieve the greatest ambition at lowest cost. Australia can play a pivotal role in this discussion and in the carbon market economy that will evolve”, says Castellas.


  • 06 Oct 2016 8:42 PM | Anonymous member (Administrator)

    London, 6 October - IETA welcomes the adoption by the International Civil Aviation Organisation of a global market-based mechanism (GMBM) at its triennial General Assembly in Montreal. After formal plenary approval tomorrow, ICAO’s decision will mean that the airline industry will be the first sector to adopt a global sectoral market.

    ICAO intends for the global aviation industry to achieve carbon neutral growth from 2020 by requiring participating aviation operators to offset any additional emissions above a 2020 baseline. The system will be voluntary from 2021 and mandatory from 2027.

    “IETA has always supported the development of market mechanisms as the lowest-cost way to achieve significant reductions in greenhouse-gas emissions, and we are pleased that the global aviation industry has come to the same conclusion,” Dirk Forrister, CEO of IETA said. “We applaud the leadership of the countries and airlines that have indicated their intent to participate in early market development, which will both help the global environment and bolster public confidence in the program.”

    IETA notes that ICAO has plenty of work to do in developing its system for monitoring, reporting and verification of emissions, as well as establishing the criteria to select which offsets will be eligible for use.

    “We hope that ICAO will take the opportunity to learn from the great amount of work that’s been done by the existing carbon market programs in developing accurate and efficient MRV systems, as well as from the high-quality offset standards that have been developed by the UNFCCC and other verified compliance protocols,” Forrister said. “Once the decisions on these technical issues are made, this market has tremendous potential to deliver the ICAO goals at low cost.”

  • 05 Oct 2016 10:12 AM | Anonymous member (Administrator)

    London, 5 October - IETA welcomes the news that with the ratification of the Paris Agreement by the European Union this week, the global climate treaty will enter into legal force in time for the start of the UNFCCC’s 22nd Conference of the Parties in Marrakech, Morocco.

    The entry into force within a year of its agreement is almost unprecedented and underlines the commitment of nations to move quickly to develop the structures that will support the Paris Agreement when it takes effect in 2020.

    “The rapid action by key nations to ensure Paris is legally binding shows they take seriously the challenge of keeping temperature increases to below 2 degrees Celsius,” said Dirk Forrister, chief executive officer of IETA. “It also underlines that importance of developing rules and implementation details in a timely manner.”

    “Hopefully this will inspire nations to ramp up the ambition of their Nationally Determined Contributions and take the world closer to its goal.”

    The ratification of the Paris Agreement is also critical for the future of international market mechanisms to help countries join together and cut greenhouse-gas emissions at lowest cost. 

    “Climate change is one of those challenges that is best met together,” Forrister said. “Linked markets help reduce costs for participating industries – and their national economies.”

    The Paris Agreement will come into force 30 days after 55 countries accounting for 55% of global greenhouse gas emissions have ratified it. Currently, 63 countries accounting for more than 52% of global emissions have ratified it.

  • 03 Oct 2016 10:52 PM | Stephanie Olegario (Administrator)

    3 October - The International Emissions Trading Association (IETA) applauds the announcement by Canada’s Prime Minister that individual provinces will be able to decide how best to meet established national targets to reduce carbon emissions, whether that is achieved through a carbon tax or a cap-and-trade regime. The course the federal government has chosen is clear recognition of the hard work that has been undertaken to date in those provinces with carbon pricing.

    For Canada to reach the emissions reduction goals it has committed to under the international Paris Agreement, clear and consistent political direction is vital. The provinces of Ontario and Quebec have provided that political resolve by legislating a cap on emissions and implementing a market-based system designed to achieve emissions reductions in the most cost-effective manner possible. Today’s proposed decision assures continuity in these important markets, and it offers other provinces freedom to choose an approach that meets their unique circumstances.

    The key metric in judging the effectiveness of any emissions reduction program is how well it delivers the environmental goals. Individual jurisdictions choosing the best path forward for their own circumstances makes good environmental sense.

    The phase in of the pricing to start in 2018 allows those jurisdictions without carbon pricing to weigh the merits of adopting either a tax or a cap-and-trade system, and to make an informed choice. IETA looks forward to working with the provinces that have adopted a cap-and-trade system, and with all jurisdictions that have not yet determine how they will proceed.

    “Cap and trade is favored by the majority of countries as a means of putting a price on carbon,” said Katie Sullivan, IETA’s Director of The Americas and Climate Finance.  “We have seen time and again the effectiveness of cap and trade in delivering real reductions at prices that both drive innovation and ensure that all cost effective measures are implemented by those industries covered by the system.”

    Download the press release.

  • 26 Sep 2016 3:26 PM | Anonymous member (Administrator)

    Panama, September 26  - The Latin American and Caribbean Carbon Forum (LACCF, 28 to 30 September) is set to kick off on Wednesday this week, bringing together for the tenth consecutive year key players from the private and public sectors to discuss ways to speed up the Nationally Determined Contributions, and reach out to cooperation agencies, potential investors and service providers.

    The meeting follows last year’s historic Paris Agreement on Climate Change that embodies the commitment of countries around the world to move forward together to address climate change, and is taking place around six weeks ahead of the next major UN Climate Change in Marrakech in November.

    Governments, businesses, civil society institutions and other stakeholders are focused on turning targets and plans into climate action, also with the help of key regional meetings.

    The event in Panama will provide a platform for discussions and experience sharing on challenges and opportunities in line with the Paris Agreement such as:

    • Implementing Nationally Determined Contributions
    • Leveraging public and private finance for climate action
    • Carbon pricing mechanisms and carbon markets
    • Sustainable development and transformational change
    • Public-private partnerships
    • Innovative business models to fight climate change

    The Forum will also feature the latest advances and resources on:

    • Sustainable cities
    • Agroindustry
    • Energy
    • Extractive industries
    • Forests
    • Transport

    LACCF’s comprehensive and substantive program consists of plenaries, parallel thematic discussions and training sessions. The LACCF exhibition space is ideal to identify business opportunities and connect with supporting organizations, cooperation agencies, potential investors and service providers.

    For the first time this year, the LACCF and the annual workshop of the Low Emission Development Strategies-LAC platform will be held back-to-back, becoming the largest climate event of the region: the 2016 Latin America and Caribbean Climate Week.

    An opening press conference will take place at the forum at Wednesday September 28th between 10 and 10.45 a.m.

    This annual Conference and Exhibition is jointly organised by the World Bank Group, the Latin American Energy Organisation (OLADE), the International Emissions Trading Association (IETA), the United Nations Environment Program (UNEP) and the UNEP DTU Partnership, the Inter-American Development Bank (IADB), the UN Framework Convention on Climate Change (UNFCCC) secretariat, the United Nations Development Program (UNDP) and CAF, the Development Bank of Latin America.

    The Forum will take place at Hotel Sortis in Panama City, Calle 56 Este, Panamá. For more information, see http://www.latincarbon.com/

    Media contact:
    Alessandro Vitelli
    IETA communications
    press@ieta.org
    +44 7710 402060