This sixth annual workshop, organised jointly between the IEA, IETA, and EPRI, provided an opportunity for government, industry, brokers, finance, and NGO delegates to discuss some of the key issues relating to emissions trading for climate policy.
The workshop combined presentations of recent research with discussion sessions on the following topics:
- Country Roundtable: Highlights of regulatory developments
- Market news
- Exploring the implications of design options (price caps, intensity targets, etc.) on CO2 market
- Linking: Technical Issues
- Green Investment Schemes and Joint Implementation
- Carbon Capture and Storage and Market Mechanisms: Baselines Methodologies and Verification
Claude Mandil, Executive Director, International Energy Agency (IEA)
Andrei Marcu, Executive Director, International Emissions Trading Association (IETA)
Adam Diamant, Manager of Economic Analysis, Global Climate Research Program, Electric Power Research Institute (EPRI).
Session 1 - Country Roundtable: Highlights of Regulatory Developments
Chair: Richard Bradley, (IEA)
Norway – Ingvild Andreassen Sæverud (Ministry of the Environment)
Australian State Developments – Anthea Harris (National Emissions Trading Task Force)
United States Developments – Adam Diamant (EPRI)
Japan – Yasushi Ninomiya (Ministry of the Environment) and Mr. Kentaro Endo (METI)
European Commission – Peter Zapfel (DG Environment)
Ukraine – Heorhiy Veremiychyk (Ministry of Environmental Protection)
Session 2 – Market News
Chair: Andrei Marcu (IETA)
Brokers, buyers and sellers will report on their views on the market this year.
Market response to EU emission developments. Clean Development Mechanism projects.
Dirk Forrister (Natsource)
Norbert Verweyen (RWE Trading)
Lisa Ashford (EcoSecurities)
Garth Edward (Shell)
Session 3 – Green Investment Schemes and Joint Implementation
Chair: Richard Baron (IEA)
Green Investment Schemes have yet to be implemented, but hold the promise of opening the carbon market to countries with significant surpluses under the Kyoto Protocol. What could be the use of such schemes? How would they function with JI and emissions trading? What are the domestic policy needs for GIS to function and to deliver effective results for buyers and sellers alike?
Session 4 – Carbon Capture and Storage and Market Mechanisms: Baselines Methodologies and Verification
Chair: Gudmundur Sigurthorsson (DNV)
Companies are commissioning work on CDM methodologies for CCS as well as verification protocols for CO2 capture and storage projects. This session will provide an opportunity to update participants on the prospects for CCS in project-based mechanisms.
Session 5 – Design Options
Chair: Adam Diamant (EPRI)
Various alternative design options have been discussed in the climate policy literature, e.g. price caps, intensity targets, offsets. This session will confront theoretical views with that of CO2 market players.
Cédric Philibert (IEA)
Robert Page (Transalta)
William Blyth (RIIA)
François Joubert (EDF Trading)
Billy Pizer (RFF)
Chair: Richard Bradley (IEA)
Invited panellists were asked to bring their perspectives on various aspects of CO2 trading mechanisms including the possibility of sectoral approaches.
Harald Dovland (Norway)
Tony Cocker (E.ON)
Lee Solsbery (ERM)
John Drexhage (IISD)
Noé van Hulst, Director of the Long-Term Co-operation and Policy Analysis Office (IEA)
Andrei Marcu, Executive Director (IETA)
Adam Diamant, Manager of Economic Analysis, Global Climate Research Program, Electric Power Research Institute (EPRI)