Around the world in carbon markets: Emissions Trading Case Studies
Date: 1st December, 1.15pm – 2.15pm
Location: IETA Pavilion, Business Hub Room Paris
Partner(s): IETA and Environmental Defense Fund
The event discussed carbon market experiences and challenges in Europe, North America and emerging countries based on a series of case studies published by IETA, EDF and I4CE in 2015.
Key messages:
- Benoit Leguet, Managing Director, I4CE – Institute for Climate Economics: Since 2014, the EU ETS has been successful in over achieving its 2020 emission reduction target and complementary policies have played a significant role in reducing emissions. The next step will be to recalibrate the scheme with the Market Stability Reserve, a new adjustment mechanism, voted in 2015 and to endorse EU ETS 2030 ambition based on the -43% target compared to 2005. View Benoit’s presentation.
- Derek Walker, Associate Vice President, EDF: In California; although GDP has increased by 4-5 % since the implementation of the cap-and-trade program. CO2 emissions among covered entities have reduced by 2% proving that economic growth can be decoupled from emissions growth.
- Jeff Swartz, Director International Policy, IETA: Chinese ETS pilots and the future national ETS (2017) may encourage the emergence of more carbon pricing initiatives by reducing regional competitiveness concerns. However before this, it is imperative that the right MRV framework is implemented to ensure reliability and effectiveness. View Jeff’s presentation.
- Vikram Widge, Head of Climate Finance and Policy, World Bank Group: Carbon pricing initiatives are essential and ETS is an effective way to achieve a GHG emission reduction goal. A plug-and-play market based mechanism can help countries take measurable actions that are recognized internationally. View Vikram’s presentation.
Found more information about our carbon pricing policy case studies