WASHINGTON, DC (October 2, 2013) – Today, at the Carbon Forum North America conference, IETA released its anticipated California Emissions Trading Master Agreement (CETMA), which will be available for use by the secondary market participating in the California Carbon Market.
The CETMA was drafted under IETA’s stewardship by a special committee led by Baker & McKenzie LLP, and incorporates perspectives and expertise from many of the largest firms operating within the California carbon market today.
“The CETMA builds upon IETA’s successful International Emissions Trading Master Agreement,” said drafting committee chair Richard Saines of Baker & McKenzie, “but it deals with a number of secondary market trading issues specific to California’s unique AB32 compliance market, including offset invalidation, holding limits, registry and tracking system mechanics, and the buyer liability provisions under the California rules.”
IETA’s President and CEO, Dirk Forrister expanded on the value of the CETMA, stating, “with the standardized contractual provisions the CETMA provides, we expect to see increased market liquidity and transparency. We’re very pleased with how this document has turned out, and look forward to releasing it to the market.”
The CETMA release was announced at a special press conference during Carbon Forum North America. The conference brings people together from across a wide range of industries – the common thread is a recognition of the need to manage and reduce greenhouse gas emissions and the preference for doing so through the power of markets.
Online access to the CETMA: http://www.ieta.org/trading-documents
Download the press release here.