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  • 02 Dec 2015 7:04 AM | Anonymous member (Administrator)

    FOR IMMEDIATE RELEASE

    Contact Sophy Greenhalgh, Greenhalgh@ieta.org

    PARIS, 2 December - Nine businesses, including Aviva, Sky, Fuji Xerox and DPD, have joined the UN’s Christiana Figueres to speak out about the benefits of offsetting carbon emissions, at this week’s climate negotiations in Paris.

    In a video released today, the companies explain why offset strategies are good business sense, the challenges and opportunities their approach has created, and why they believe it has made a difference. Companies throughout the world, including Microsoft, Jaguar Land Rover and Marks and Spencer have adopted carbon-offset approaches to enable them to go beyond the reduction targets they could achieve through internal change. 

    “We believe that now, more than ever, offsetting has a crucial role to play both for business success and for global greenhouse gas reduction targets,” explains Sophy Greenhalgh, Programme Director of the International Carbon Reduction Offset Alliance (ICROA) which produced the video. “We hope that by hearing about the business benefits of offsetting, others will be inspired to follow their leadership.”

    This year’s global climate change negotiations in Paris have been unusual in recognising the role that business must play in meeting greenhouse gas reduction targets. Businesses are making a range of pledges and using carbon finance to offset emissions delivers an immediate response and can bridge the gap between internal reductions and meeting meaningful commitments.

    Christiana Figueres, Executive Secretary of the United Nations Framework Convention on Climate Change calls for action now to ensure a secure, stable climate for the future. She also identifies offsetting as a vital part of the solution set to meet global emission reduction goals in the video. 

    “Offsetting is a valid way to reduce global carbon emissions quickly and cost effectively,” says Figueres.

    Recent research from Carbon Disclosure Project Data shows that business who offset also take the lead in reducing their carbon emissions with the typical offset buyer cutting almost 17% of their scope 1 direct emissions compared to non offset buyers who reduced emissions by less than 5% in the same year.

    By supporting carbon-offset projects, businesses are investing in the local environment and communities, delivering positive impacts beyond the carbon reduction. While these ‘co-benefits’ vary by project, a market representative average was recently calculated by Imperial College London University at $664 for every tonne of carbon offset.

    Watch the video and in depth interviews with each company at www.icroa.org/offsetting and joing the conversation at #offset.

    For more information:
    About ICROA
    ICROA members
    Videos created by Workbrands

    About ICROA:
    ICROA is an international best practice programme for carbon management and offsetting. ICROA is managed by IETA a non for profit business association housing over 140 global businesses and a leading voice on climate policy.

    Download the full press release here.

  • 25 Nov 2015 5:18 PM | Anonymous member (Administrator)
    Contact: Katie Kouchakji, press@ieta.org


    LONDON, 25 November – Governments need to ensure a new international climate change agreement is reached at the Paris climate talks – and that it includes a role for market-based mechanisms, IETA says today.

    Ahead of the start of the two-week meeting in the French capital on Monday, the business group is calling on negotiators to ensure market mechanisms will feature in the future agreement. Specifically, IETA is asking for: provisions to encourage countries to cooperate in meeting their mitigation commitments by enabling system linkages; rules to account for international emissions reduction unit transfers; and tools to accelerate links between carbon pricing systems, such as a central project crediting mechanism.
     
    Last month, IETA along with 20 other business groups – representing more than 100,000 businesses from around the world – sent a letter to more than 90 governments and UN climate chief Christiana Figueres, highlighting the importance of carbon markets to the future agreement. It also called for the three elements outlined above.
     
    “As more than 80 countries mention the use of market mechanisms in their pledges for the Paris agreement, there must be provisions for their use,” says Dirk Forrister, IETA’s CEO and President. “Market mechanisms, and particularly linked carbon markets, allow emissions reductions to occur faster and cheaper than operating in isolation. These three ‘asks’ would go a long way to making this happen.
     
    “With the right policy framework emerging from Paris, the next wave of carbon market activity could flourish,” he adds. “Business has been consistent on the need for clear policy signals from Paris to mobilise capital to fight climate change.”
     
    Following October’s negotiations in Bonn, Germany, the latest draft negotiating text contains a more robust section on climate change mitigation, including provisions on markets. However, IETA is concerned that these proposals remain in brackets, meaning they could still be deleted in Paris.
     
    “The new text is a good springboard to work from in Paris – but we need to start seeing some positive signals on the future of markets,” says Jeff Swartz, IETA’s Director of International Policy. “If governments are serious about meeting the 2°C target, all options need to be available, including markets.”
     
    IETA will have a team on the ground for the duration of the Paris meeting, covering market mechanisms, REDD+, climate finance and the overarching deal. Please contact Katie Kouchakji on kouchakji@ieta.org for any enquiries.
     
    We will also be running a series of events in the IETA/WBCSD Pavilion, located in Hall 3, including daily media briefings at 10.30am CET. Please see our dedicated COP 21 website for more information.



  • 19 Nov 2015 3:00 PM | Anonymous member (Administrator)
    Contact: Katie Kouchakji, kouchakji@ieta.org


    LONDON, 19 November – A growing wave of carbon market activity provides good momentum for the climate talks in Paris – and has valuable lessons for the future markets, as showcased in IETA’s GHG Market Report 2015/16.

    Entitled Making Waves, this year’s report captures the momentum driving carbon markets, from the tiny ripple of policy support in the Kyoto Protocol out to the latest developments in Ontario, the aviation sector, and beyond. Each section opens with a “memo to policy-makers”, laying out the lessons from each wave of activity. 

    “With the approach of COP 21, this report emphasises the opportunity for countries to send out strong policy signals from Paris to prompt the next wave of climate action through markets,” says Dirk Forrister, President and CEO of IETA. “The momentum from a solid agreement could ripple out across the world – and provide a basis for cooperation through carbon markets far into the future.”

    He adds: “This year’s report shows how just a few lines in the Kyoto Protocol mobilised the private sector and led to the EU’s pioneering emissions trading system, and the ripple effect from those early steps.”

    The report opens with an overview of carbon market developments by Environmental Defense Fund President Fred Krupp and Vice-President Nathaniel Keohane. It then considers different models for linkage between varying pricing systems in an article by Joseph Aldy, Robert Stowe and Bianca Sylvester; an extended version of this study was released earlier this week. An extract from IETA’s forthcoming oral history project is also included, looking at the early years of market activity immediately after the Kyoto Protocol was agreed in 1997.

    Other contributors to the report include Ontario’s Minister of the Environment and Climate Change Glen Murray, Connie Hedegaard’s former head of cabinet Peter Vis, RGGI chairwoman Katie Dykes, Shell’s chief climate change adviser David Hone, PwC UK Director of climate change Jonathan Grant, and AGL’s Manager of carbon and renewable policy Cameron Reid.

    Making Waves is also a call to action: it’s about using market forces to disrupt the rising levels of greenhouse gas emissions,” says Forrister. “More than 40% of global GDP is already subject to a carbon market – a share that is set to rise dramatically in the next few years, with potential markets emerging in China and the United States. The Paris agreement is a prime opportunity to forge a link for the next wave of market activity.”

    The full report, published with support from AEP, AitherCO2, EcoWay, EEX, GLOBE Series and Shell, and executive summary are available online now at http://ieta.org/Annual-GHG-Market-Report.



  • 23 Oct 2015 5:25 PM | Anonymous member (Administrator)
    Contact Katie Kouchakji, press@ieta.org 


    BONN, 23 October – Commenting on the close of this week’s climate negotiations in Bonn, Germany, IETA’s Director of International Policy Jeff Swartz says:

    “We welcome progress made this week on advancing the text for the Paris agreement, despite divisions over climate finance. Parties managed to focus on the job at hand, and made headway on the negotiating text for Paris.”

    “IETA is particularly pleased to see a more robust section on mitigation that clarifies the market provisions.  It now makes clear that countries can cooperate on markets with proper accounting of transfers, and it sets policy to avoid double-counting of emissions reductions. It also creates a sustainable development crediting mechanism. All three of these provisions are similar to what we and 19 other business groups called for at the start of the week in a letter sent to more than 90 governments.  

    “There are also several references to ‘international transferrable mitigation outcomes’, which is in line with what IETA has been proposing to governments for more than a year. This new text is a solid basis to work from going in to the Paris talks in five weeks’ time.”

    The new text is available on the UNFCCC website.



  • 20 Oct 2015 10:00 AM | Anonymous member (Administrator)
    Contact Katie Kouchakji, press@ieta.org


    LONDON, 20 October – Business-focused organisations and associations from around the world joined forces today to call on governments to ensure that the Paris climate change agreement supports international cooperation through market-based measures.

    In a letter issued to more than 90 governments at the start of negotiations in Bonn this week, the group1 urged ministers to include elements to undergird markets in both the Paris Agreement and Decisions relating to the deal. The letter was sent to Ministers in the US, China, India, Indonesia, Russia, the EU, Canada, Mexico, South Korea, Brazil, along with more than 80 other countries. A copy was also sent to UNFCCC Executive Secretary Christiana Figueres.

    The letter came in response to a new draft that the Co-Chairs of the ADP talks released earlier this month. Their proposed texts made significant strides in consolidating the core elements of the agreement into a few short pages. However, the draft contains few provisions to support the use of market mechanisms. For example, the Agreement text lacks clear rules on how to account for international emissions reduction unit transfers between countries. Similarly, their proposed draft Decisions include a mention of a potential crediting mechanism for emission reduction projects, but it is conditioned on future decisions before becoming operational.

    “Businesses around the world remain concerned that, at this late juncture of the negotiations, important market provisions remain unclear,” says Dirk Forrister, IETA’s President and CEO. “Given the need to ensure any future climate change policies achieve their objectives while keeping costs down, market mechanisms need to be part of the solution.”

    “Carbon pricing is one of the most powerful mechanisms we can put in place to reduce emissions and speed the transition to a low-carbon economy,” says Peter Bakker, President and CEO of the World Business Council for Sustainable Development. “Many companies are already using internal carbon prices, and the external call for a formal carbon price has grown stronger across the world during 2015. This is a united call for action from the business community as we head towards the historic climate negotiations in Paris this December.”

    “As more and more governments move forward with carbon pricing, the Paris agreement offers a critical opportunity for strengthening the global carbon market,” says Bob Perciasepe, President of the Center for Climate and Energy Solutions. “By requiring sound accounting of international trading, the agreement can facilitate the growth and credibility of the carbon market, a critical tool for cost-effective emissions reduction.”

    “We believe that market-based mechanisms, such as carbon markets, are the most effective tool for mitigating greenhouse gas emissions and stimulating investments in low-carbon technologies and energy efficiency,” says Hans ten Berge, Secretary General of EURELECTRIC. “The importance of carbon markets should be anchored in the new climate change regime with a view to enabling the development of a global carbon market in the longer term.”

    “Australian businesses recognise the importance of having robust and credible processes to underwrite international linkage of efforts to reduce greenhouse gas emissions,” say Jennifer Westacott, Chief Executive of the BCA, and Innes Willox, Ai Group’s Chief Executive.

    “The Council believes that market-based mechanisms are proven, cost-effective tools for achieving national mitigation goals,” says Lisa Jacobson, President of the Business Council for Sustainable Energy. “Countries are setting the global pathway forward in Paris and market-based mechanisms should be recognised as tools to help transform the energy sector and grow national economies.”

    “Carbon markets and carbon pricing are the creation of policy-makers,” says Richard Folland, Executive Director, Climate Markets and Investment Association. “Market participants around the world will be looking for signals from the negotiators in Bonn this week that they support carbon pricing as a key instrument in tackling climate change at the global level.”

    “Market-based instruments, such as the EU ETS, are of key importance in order to reduce emissions and deploy climate solutions cost-efficiently,” says Troels Ranis, Director of the Confederation of Danish Industry. “Efforts and initiatives to promote this tool internationally are most welcome and supported by Danish Industry.” “Sound and efficient carbon markets continue to be the most cost-effective way to reach the world’s agreed climate goals,” says Beate Raabe, Secretary General of Eurogas.

    “Businesses and investors around the world are calling for carbon pricing is one of the key policies to help harness the power of markets in tackling climate change,” says Nigel Topping, CEO of We Mean Business. “Over 1000 companies are already implementing internal carbon prices, in anticipation of regulation. Whether in the form of carbon taxes or cap-and-trade systems, smart carbon pricing policies will be fundamental in giving investors, businesses and governments a clear economic signal to drive investment in a cleaner energy future.”

    “We look forward to the Paris conference, as the commitments submitted by the Parties have generated a positive setting,” says Juha Naukkarinen, Managing Director of Finnish Energy. “However, we are concerned whether the agreement will convince investors all around the globe that carbon price will become a significant factor in their business. Clear support for global market mechanisms will help Europe to continue strengthening its market-based climate policy with a view to carbon neutral energy by 2050.”

    NOTES

    1 The full list of signatories is: Aluminium Association of Canada; Australian Industry Group (Ai Group); Business Council of Australia (BCA); Business Council for Sustainable Energy; BUSINESSEUROPE; Canadian Chamber of Commerce; Carbon Market Institute; Center for Climate and Energy Solutions (C2ES); Climate Markets and Investment Association (CMIA); Confederation of Danish Industry (Dansk Industri); Confederation of Finnish Industries; Edison Electric Institute; EURELECTRIC; Eurogas; Federation of German Industries (BDI); Finnish Energy; IETA; SWITCH; World Business Council for Sustainable Development (WBCSD); We Mean Business.


  • 05 Oct 2015 10:37 AM | Stephanie Olegario (Administrator)

    LONDON, 5 October – Today’s release of a new draft agreement and decisions for the upcoming Paris climate talks is an important step towards a new international agreement on climate change, says IETA. However, it is critical that negotiators provide clear rules for countries that intend to cooperate through market-based approaches.

    The new text, released on Monday morning, is more streamlined than previous versions, running to only nine pages for the draft agreement and an additional 10 pages on draft COP decisions. It spells out elements for a new agreement – spanning issues such as climate change mitigation, adaptation, technology transfer and finance – as well as decisions to operationalise the agreement.

    Disappointingly, the draft agreement has few provisions  to support the use of market mechanisms, nor does it specify rules to account for international emissions reduction unit transfers. The draft decisions contain several provisions which would support the use of market-based mechanisms to fulfil pledges, but they remain in brackets – meaning they are yet to be agreed.

    “Having a more concise text at this stage of the process is welcome – particularly as governments prepare for a final week-long negotiating session later this month, ahead of the Paris talks,” says Dirk Forrister, IETA’s President and CEO. “However, it is still unclear whether the agreement will feature rules to encourage cooperation through carbon markets, with many key provisions still to be agreed.”

    He adds: “Businesses all over the world have consistently called for carbon pricing to form a part of the new agreement. With the profound concerns that business and government share in ensuring cost effectiveness, market provisions need to be at the heart of the agreement.  China is set to launch the world’s largest carbon market in 2017, adding to the 40% of global GDP1 already subject to emissions trading. These efforts need to recognised and encouraged in a future rules-based agreement.” 

    NOTES

    1 According to the International Carbon Action Partnership’s 2015 status report

    You can access this press release here.

  • 25 Sep 2015 6:56 AM | Anonymous member (Administrator)

    NEW YORK, 25 September – China’s announcement of its national emissions trading system plans is a boost for international climate negotiations – and for the role of market mechanisms in the 2015 climate agreement.

    China’s President Xi Jinping is expected to announce today that the country’s national ETS will begin in 2017, building on the seven pilot market systems that have been operating in the country since 2013. When launched, the Chinese ETS will be the world’s largest.

    IETA has been increasingly active in China in recent years, including through five business-to-business ETS dialogues around the country as part of the Business Partnership for Market Readiness, which has given hundreds of Chinese firms the opportunity to discuss carbon management with European and Californian practitioners. IETA is also consulting with Chinese authorities on the design of the national market system.

    This step by the world’s largest emitter to use cap and trade to reduce its greenhouse gas emissions adds to the momentum leading to the Paris climate negotiations at the end of this year, expected to culminate with a new international climate change agreement. It is also a signal that the new agreement needs to ensure a role for market mechanisms for those that wish to use such systems to fulfil their contributions.

    “Today’s announcement by President Xi is a welcome signal that governments around the world are taking the climate threat seriously and that market mechanisms can help,” says IETA CEO & President Dirk Forrister. “We hope that negotiators take today’s announcement as another signal that the 2015 climate agreement needs to recognise markets. China joins a growing number of countries that recognise, when it comes to cutting emissions and keeping costs down, markets matter.”

    “China has had positive experiences with markets to cut emissions, starting with the Clean Development Mechanism and, more recently, the seven pilot systems,” says Jeff Swartz, IETA’s Director of International Policy. “IETA and our members look forward to engaging with the Chinese government as it looks to roll-out the next phase of its carbon market.”

    Earlier this year, IETA and CDC Climat Research released an update to the China case study, as part of the World's Carbon Market series, chronicling market developments.

    You can access this press release here.

  • 22 Sep 2015 12:00 AM | Anonymous member (Administrator)

    LONDON, 22 September – ICROA is pleased to announce that it is partnering with the UN on the Climate Neutral Now campaign, which aims to drive governments, business and individuals to offset their emissions and support global climate efforts.  

    The campaign, launched today in New York, is part of a drive to raise public awareness of offsetting and its benefits in the run-up to the climate talks in Paris at the end of this year, where a new global agreement to fight climate change is to be agreed. Leading businesses such as Microsoft and retailer Marks & Spencer are supporting the initiative, as are Hollywood actor Edward Norton and fashion designer Vivienne Westwood.

    The partnership with ICROA will allow the UN to offer businesses a comprehensive service on carbon management and lower global carbon emissions through the delivery of carbon finance to emission reduction projects around the world.

    “Climate Neutral Now is a great initiative to raise awareness among business about its climate impacts and how these can be offset,” says IETA CEO & President Dirk Forrister. “IETA, ICROA and all our members are ready to help any businesses that are prepared to take this step.”

    He adds: “For the world to meet the goal of limiting global warming to 2°C, it is vital that business takes action. Climate Neutral Now is a great way of using market forces to make a difference.”

    “ICROA is proud to partner with the UN on this voluntary initiative,” says Sophy Greenhalgh, ICROA’s director. “ICROA has for a long time worked with business to take action on climate. We are delighted that the UN is actively promoting the importance of voluntary offsetting at this critical time and encourage all to get involved and make a positive impact by becoming Climate Neutral Now.”

    “The private sector plays a vital role in working toward climate neutrality,” says Niclas Svenningsen, Manager, Design of Strategic Initiatives at UNFCCC. “We are delighted to be working with ICROA and grateful for their support in helping companies measure and reduce their climate footprint.”

    More information on the Climate Neutral Now campaign, please see http://climateneutralnow.org.

    Download the press release here.

  • 18 Sep 2015 12:00 AM | Anonymous member (Administrator)

    Contact: Katie Kouchakji, press@ieta.org

    IETA welcomes European ministers’ support for markets in 2015 climate agreement

    BRUSSELS, 18 September – Commenting on the European Environment Ministers’ council conclusions relating to the Paris agreement, IETA’s Director of International Policy Jeff Swartz says:

    “IETA is encouraged that the European Environment Council has given a clear mandate for Europe to negotiate a role for market mechanisms in the Paris agreement. Market mechanisms are one of the few tools in the architecture of the Paris agreement that will maximise the innovation and ‘can-do’ spirit of the private sector in reducing greenhouse gas emissions globally.

    “The absence of clear provisions on market mechanisms in the agreement would lead to less ambition by the numerous countries which seek carbon reduction abatement opportunities outside of their domestic borders. It would also send a signal to the private sector that the UN process has failed in its attempts to put a price on carbon.

    “Europe’s mandate to its climate negotiators to include markets in the 2015 agreement is a positive signal ahead of the next meeting in October to progress the text before the world gathers in Paris this December to finalise the agreement.”
    About IETA: IETA is the voice of business on carbon markets around the world. Established in 1999, IETA's members include global leaders in the oil, electricity, cement, aluminium, chemical, technology, data verification, broking, trading, legal, finance, and consulting industries.



  • 27 Aug 2015 12:00 AM | Anonymous member (Administrator)

    Contact: Sarah Deblock, deblock@ieta.org

    GENEVA, 27 August – IETA calls on policymakers to advance talks on mitigation strategies and cooperative mechanisms for the Paris agreement, including the role of markets, as negotiators prepare to meet from 31 August until 4 September in Bonn, Germany.  

    Economists and businesses alike recognise that broad international market linkages can lower costs, improve competitiveness and bolster deployment of advanced technologies.  A study1 by the Harvard Project on Climate Agreements last year suggested that simple references to encourage carbon market integrity with good accounting of imports and exports could help support future development of market linkages, strengthening the ability of nations to pursue a 2°C level of climate protection. 

    This concept is being demonstrated this year, as a number of countries stated in their Intended Nationally Determined Contributions (INDCs) for the Paris agreement that international market mechanisms are crucial to meeting their mitigation goals, be it through acquiring credits or receiving vital investment in low-carbon technologies to develop sustainably. Importantly, some INDCs specify  the minimum that the country can achieve domestically, and how much more could be realised with links to international markets and finance.

    “There has been slow progress on the mitigation and market aspects of the negotiations so far,” says IETA CEO & President Dirk Forrister. “With only 10 more official negotiating days before Paris, it’s time to step up the pace on this crucial component of the agreement. Good carbon accounting and markets are joined at the hip with climate change mitigation – if we have no progress on markets and accounting , we’ll have no real progress on mitigation.” 

    He adds: “We urge negotiators to speak up at Bonn about how access to markets can help achieve mitigation goals in INDCs.  In fact, countries can achieve more mitigation, more quickly and at a lower cost if there is clarity on market mechanisms.”

    Next week’s talks will be the first since the release of a streamlined negotiating text2 last month. While welcoming steps to consolidate the text, IETA remains concerned that there is scant detail on approaches to mitigation, use of markets and transparent emissions accounting. IETA's detailed reaction to the streamlined text was published yesterday here

    “There is definitely scope to put a hook for markets in the mitigation part of the text,” says Jeff Swartz, IETA’s Director of International Policy. “For example, the language on implementing decisions jointly could be expanded to make mention of a unified transfer system such as that proposed in IETA’s Straw Proposal3.” 

    “The private sector has been waiting for a signal that market mechanisms will be recognised in the Paris agreement so that it can begin to plan and make investments now for a cleaner future,” adds Swartz. “Next week’s talks are a good opportunity to provide that signal.”


    NOTES
    1 The study, prepared in cooperation with IETA, was released in full at COP20 in Lima, Peru
    2 The streamlined negotiating text is available on the UNFCCC website
    3 IETA’s Straw Proposal has been revised to reflect the language of the Geneva negotiating text


    Please download this press release here.

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