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  • 15 Sep 2016 1:37 PM | Anonymous member (Administrator)

    Geneva, 15 September - ICROA, in cooperation with Imperial College London and the UNFCCC, has launched a global survey to investigate the drivers behind corporate engagement in voluntary carbon offsetting and climate change mitigation strategies. 

    The survey aims to understand why corporate offsetters select particular kinds of carbon offsets, and which sectors of business and industry are most interested in offsetting to achieve their corporate social responsibility goals.

    “A survey like this hasn’t been done for while,” said Niclas Svenningsen, Manager for Strategy & Relationship unit, UNFCCC. “It’s asking questions we all want to know the answers to. It should be of great value to anybody interested in understanding how voluntary offset use can benefit both the climate agenda and the sustainable development goals adopted last year”.

    The partners also hope to understand what additional benefits offsetting provides, and whether demand is also driven by risk management concerns, such as the expectation that more widespread emissions reductions may be mandated at some time in the future.

    Responses to the survey will be anonymous and will only be accessed by Imperial College London. 

    Aggregated results will be incorporated in a final report which will be issued jointly by ICROA, the UNFCCC and Imperial College London. Publication is expected in Q1 2017.


  • 07 Sep 2016 4:52 PM | Anonymous member (Administrator)

    Jeju Island, Republic of Korea, 7 September - Experience gained using markets in the Asia-Pacific region to combat climate change can help ensure success of the global climate change agreement adopted in Paris last December. This was the consensus of the 300 participants, from 60 countries, at this year’s Asia-Pacific Carbon Forum after three days of panel discussions, meetings and presentations.

    • China has more than 10 years of experience with carbon markets, starting with emission reduction and development projects under the Kyoto Protocol’s Clean Development Mechanism (CDM), establishment of voluntary emissions trading, seven emissions trading system (ETS) pilots and plans for a national ETS in 2017.
    • The Republic of Korea has had an ETS since 2015, becoming the second country in Asia to introduce a nationwide cap-and-trade system, which now covers about 530 businesses.
    • Japan is pursuing a number of market-based approaches to combat climate change, including a Joint Crediting Mechanism similar to the CDM, a system that awards offset credits to domestic entities that reduce emissions, a voluntary ETS and an ETS in the city of Tokyo.
    • New Zealand has had an emissions trading system since 2008, designed to assist the country in meeting its international climate change obligations and reduce domestic emissions below business as usual. The system is currently being reviewed.
    • Australia, after a few years of uncertainty and policy reversals, stabilised its climate policy suite around its Emission Reduction Fund and Safeguard Mechanism.

    The Paris Climate Change Agreement provides for (1) transferring mitigation outcomes, essentially emissions trading; (2) a new Sustainable Development Mechanism; and (3) a framework for non-market approaches. All three of these economic instruments are described in Article 6 of the Paris Agreement.

    “The Forum drew together a wealth of experience in using market incentives to cut carbon emissions, whether in innovative climate finance or carbon trading,” said Dirk Forrister, President and Chief Executive Officer, International Emissions Trading Association. “It is encouraging to learn how the new markets in Korea, China and the global aviation industry are shaping a future vision of international cooperation in protecting the climate.”

    “It was extremely encouraging to see the commitment of APCF participants to harness the carbon markets in achieving development outcomes, and as a climate and development practitioner I join in the effort,” said Rakshya Thapa, Regional Technical Specialist, United Nations Development Programme. “I believe the carbon market is one of the most important instruments that can further the objectives of the Paris Agreement while simultaneously and coherently achieving Sustainable Development Goals.”

    “The forum brought together the emission trading community – governments, financial institutions, investors, donors and businesses – discussing a range of topics, including carbon markets, national mitigation actions, aviation, domestic carbon pricing systems, such as those in operation in the Republic of Korea and in China, and in development in Thailand and other jurisdictions,” said Niclas Svenningsen, Manager, Stakeholder and Relationship Management Unit, Sustainable Development Mechanisms programme, United Nations Framework Convention on Climate Change secretariat. “The event was useful to shape up collaboration in the region in linking markets and to achieve our long-term climate and sustainability goals through market instruments, including UNFCCC instruments such as the clean development mechanism.”

    APCF 2016 was organised by the Asian Development Bank, IETA, UNFCCC secretariat and the Institute for Global Environmental Strategies, in collaboration with Global Green Growth Institute (GGGI). The organisers would like to express their appreciation to GGGI for their great partnership in helping deliver APCF 2016.

    For more information on carbon markets in Asia-Pacific and elsewhere visit <https://ieta.wildapricot.org/The-Worlds-Carbon-Markets>.

      


  • 03 Sep 2016 5:05 PM | Anonymous member (Administrator)

    London, 3 September - IETA congratulates the US and China on their ratification of the Paris Agreement. The formal approval by the world’s two biggest-emitting nations is a major step towards the treaty’s entry into force before the end of 2016.

    "It is impressive that President Xi and President Obama followed through so promptly with ratification and acceptance,” Dirk Forrister, CEO of IETA, said. “This should encourage other nations to step up their efforts to ratify so that the agreement will come to life quickly, spurring more climate action.”

    The ratification by China and the US, which together represent around 40% of global greenhouse-gas emissions, comes much sooner than expected and means that negotiations on implementing the Paris Agreement’s rules, including provisions on market cooperation, should get off to a good start in Marrakech in November.

    “The fact that the two countries have followed through so swiftly on their promise to ratify shows strong climate leadership during a time of political uncertainty in many parts of the world,” said Jeff Swartz, director of international policy at IETA.

    “Ratification by the US and China will bolster momentum for domestic climate policies in the US, as well as China’s efforts to put in place a national ETS,” Swartz said. “These will be instrumental for each country to meet its respective target under the Paris Agreement.”

    The formal adoption by the two nations won’t immediately bring the agreement into force - it requires the ratification of 55 countries representing 55% of the world’s emissions. Before today only 24 countries (representing 1.08% of global greenhouse gases) had deposited their instrument of ratification with the United Nations. 


  • 01 Sep 2016 11:03 AM | Anonymous member (Administrator)

    London, 1 September - IETA welcomes the joint declaration by the environment ministries of Mexico, Quebec and Ontario setting out a commitment to bring their respective cap-and-trade programmes closer together. 

    In a joint statement signed 31 August in Guadalajara Jalisco, Mexico, the three partners have pledged to collaborate on carbon market activities, and to promote emissions trading in North America. 

    Katie Sullivan, director Americas at IETA, said: “This declaration is further evidence that national and sub-national jurisdictions can link their cap-and-trade systems to achieve even greater economies of scale and access lower-cost reductions.”

    “Carbon markets are already in place in Canada and the US, while Mexico is developing plans for its own system. Cooperation between such markets will speed up implementation of nations’ commitments under the Paris Agreement.”


  • 26 Jul 2016 12:00 AM | Anonymous member (Administrator)

    LONDON, 26 July - IETA announces today the publication of its oral history of the carbon markets, titled From Kyoto to Paris: the Oral History of the Carbon Markets.

    The book gathers together interviews from key participants in climate negotiations, including negotiators, government officials, project developers, traders and lawyers. It follows the evolution of carbon markets starting at Kyoto in 1997 and ending with the conclusion of the Paris Agreement last December.

    Excerpts from interviews with participants have been published in seven video clips at www.ieta.org/kyototoparis.

    The book focus on markets and the Kyoto Protocol, early experiments with emissions trading, the growth of the EU ETS, the CDM and carbon funds, and concludes with the momentous events in Paris last December when 196 nations agreed a new global climate treaty. 

    Downloadable and hard copies of the book are available at www.amazon.com - search for "From Kyoto to Paris".  For a limited time, a Kindle version is available free of charge. 

  • 06 Jul 2016 12:00 AM | Anonymous member (Administrator)

    LONDON, 6 July - The final chapter of IETA’s oral history of the carbon market, looking at the road to Paris and beyond, is released today.

    The closing video chapter of From Kyoto to Paris, available online, focuses on the Paris Agreement and the outlook for carbon markets in the coming years – particularly in China.

    “The future for carbon markets is truly exciting, with new initiatives emerging around the world – and this is set to increase as the Paris Agreement starts to be implemented,” says IETA President and CEO Dirk Forrister. “It’s been a rollercoaster 19 years since the Kyoto Protocol was agreed – we hope the lessons captured by From Kyoto to Paris stand us in good stead for the next 19.”

    Previous chapters have focused on markets and the Kyoto Protocol, early experiments with emissions trading, the growth of the EU ETS, the CDM and carbon funds. All seven video chapters are available on our dedicated web page, www.ieta.org/kyototoparis

    The book will shortly be available via Amazon; please email oralhistory@ieta.org to ensure you don’t miss out on this year’s essential summer reading!

  • 29 Jun 2016 7:11 PM | Anonymous member (Administrator)

    IETA welcomes the North American Leaders’ Summit (NALS) statement by the US, Canada and Mexico on energy and climate commitments.

    We welcome in particular the reaffirmation of the countries’ intent to join the Paris Agreement this year, which will give a strong boost to early entry into force of the new climate deal.

    The undertaking to implement the respective Nationally Determined Contributions is a key step towards achieving Paris’ goal of net zero emissions by the second half of the century.

    IETA also welcomes the countries’ commitment to using carbon markets where applicable to help achieve those goals.

    “Carbon markets have been shown to be the most efficient way to achieve carbon reductions at lowest cost, to generate investment in clean energy and to embed low-carbon strategy at corporate level,” said Katie Sullivan, head of North America at IETA.

    IETA warmly applauds the leaders’ undertaking to support the development by the International Civil Aviation Organisation of a global market-based measure to combat emissions from aviation. In particular, we applaud their commitment to joining the first phase of the sector’s global offsetting mechanism.

    “Cross-border commitments such as this will also provide support for deeper, broader and stronger international climate efforts,” Sullivan added.

    The three countries have also agreed to tackle methane emissions, a powerful greenhouse gas, from the oil and gas sectors, by 40-45% by 2025, as well as achieve 50% non-emitting power generation with improvements to transmission links across North America.

    Other elements of today’s North American, Clean Energy and Environment Partnership Action Plan include:

    • Sharing lessons and best practices to improve carbon emissions accounting and to avoid double-counting of reductions;
    • Encouraging subnational governments to share their experiences of carbon pricing;
    • Supporting international partners with development assistance and financing to boost efforts to combat climate change;
    • Promoting transparency in reporting and verification of emissions reductions; and
    • Share best practices and technical solutions to improve effectiveness, including for land sector and carbon-market-related approaches.

    For more information, see the Leaders' Statement from the Prime Minister of Canada's Office, or visit the Government of Canada's NALS website.

    Contact: Katie Sullivan, sullivan@ieta.org

  • 29 Jun 2016 12:00 AM | Anonymous member (Administrator)

    LONDON, 29 June - Chapter six of IETA’s oral history of the carbon market looks at how the Durban climate talks marked a sea change in the international negotiations and laid the path for the Paris Agreement.

    Available online from today, this latest chapter of From Kyoto to Paris focuses on the significance of the outcome of the Durban talks and what were the key factors behind it.   

    “After the bitter end to the Copenhagen talks in 2009, to have such a turn-around just two years later in Durban is truly remarkable, and a testament to the importance governments place on the international climate change negotiations,” says IETA President and CEO Dirk Forrister. “What happened in South Africa was a game-changer for the UN climate process and set the foundations for where we are today.”

    The oral history project, From Kyoto to Paris, charts the path from the 1997 treaty to 2015 and the Paris Agreement. Comprised of both a series of videos and a book, it features interviews with key players in the market’s growth, including negotiators, government officials, project developers, traders and lawyers. 

    Chapters previously released have looked at markets and the Kyoto Protocol, early experiments with emissions trading, the growth of the EU ETS and the CDM. The final chapter, released next week, will focus on the road to Paris and beyond. It will be available on our dedicated web page, www.ieta.org/kyototoparis

    The book will soon be released via Amazon; please email oralhistory@ieta.org to ensure you don’t miss out on this year’s essential summer reading!

     

  • 24 Jun 2016 12:00 AM | Anonymous member (Administrator)

    LONDON, 24 June - The UK referendum result has been a great shock to markets everywhere, including the EU carbon market. IETA respects the decision of the UK electorate. We aim to assist in ensuring that the transition is made in a way that preserves climate ambition and market continuity.

    As the UK and European Union embark on the process of unwinding the links between them, IETA hopes that Britain will continue to offer the strong support for market-based responses and ambition to climate change that it has provided for many years.

    The Brexit verdict does not mean that the UK cannot continue to play a central role in the carbon market. IETA notes that there are legal precedents for non-EU member countries to participate in the EU ETS.

    IETA is happy to work with all stakeholders to ensure that the EU’s carbon market is strengthened and sustained through both the UK/EU negotiations as well as the present Phase 4 review. 

    Continuity is vital to maintaining the integrity of the market, and it’s also critical to maintaining the global momentum from the Paris climate talks last December. Climate ambition requires global cooperation, including through the markets and financing where the UK has shown global leadership. We urge the new UK leadership to make it a priority to build on these achievements. 

  • 22 Jun 2016 12:00 AM | Anonymous member (Administrator)

    LONDON, 22 June - The role that carbon funds played in the growth of the carbon market is the subject of the fifth chapter of IETA’s oral history of the carbon market.

    This latest chapter of From Kyoto to Paris, available online from today, tells the story of how carbon funds – initiated by the World Bank – helped to shape the international market and what drove emitters and governments to invest in these vehicles.  

    “Climate finance is an increasingly important component of international climate policy, and the legacy of the years of investment via carbon funds can help inform future financial vehicles, such as the Green Climate Fund,” says IETA President and CEO Dirk Forrister. 

    The overall oral history project, From Kyoto to Paris, charts the path from the 1997 treaty to 2015 and the Paris Agreement. Comprised of both a series of videos and a book, it features interviews with key players in the market’s growth, including negotiators, government officials, project developers, traders and lawyers. 

    Chapters already released have looked at markets and the Kyoto Protocol, early experiments with emissions trading, the growth of the EU ETS and the CDM. Forthcoming chapters will look at the changes brought by the Durban climate talks and the Paris Agreement. 

    Each week, IETA will release another video chapter of the story on our dedicated web page, www.ieta.org/kyototoparis. In early July, the book will be released via Amazon; please email oralhistory@ieta.org to ensure you don’t miss out!