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  • 18 Jan 2016 4:58 PM | Anonymous member (Administrator)
    Contact: Katie Kouchakji, press@ieta.org


    LONDON, 18 January – More than 80 businesses from Europe, North America and Australia and China are meeting in Beijing today for a one-day workshop on emissions trading.
     

    The workshop, organised by IETA’s Business Partnership for Market Readiness (B-PMR)1, is supported by China’s National Development and Reform Commission and the World Bank. Representatives from the World Bank’s Partnership for Market Readiness (PMR) initiative will also be in attendance. 

    Topics on the agenda include sector-based insights, success factors for emissions trading participation, allowance management strategies and the use of project-based credits.  

    “IETA is honoured to have been invited by the Chinese government to organise this first of its kind event for large state-owned enterprises preparing for the national carbon market,” says Dirk Forrister, IETA’s President and CEO. “With the country moving ahead quickly to introduce a nation-wide emissions trading system next year, it is encouraging to see such a productive dialogue between Chinese enterprises and their international counterparts.” 

    He adds: “The B-PMR offers IETA and its members a unique opportunity to engage with the next wave of carbon markets, in China and elsewhere.” 

    The B-PMR will also be holding an ETS Dialogue in Chongqing on Thursday, at the invitation of the city’s UK Consulate General. 

    For more information on the B-PMR, please see http://www.ieta.org/B-PMR.

    NOTES

    1 The B-PMR, launched in 2012, is a complementary programme to the World Bank’s PMR. The latter supports the preparation of carbon pricing mechanisms in developing countries, at a government-to-government level. The B-PMR aims to bring together businesses in these jurisdictions with their counterparts from around the world to share experiences and best practice for emissions trading. 



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

    Contact: Katie Kouchakji, press@ieta.org

    PARIS, 12 December – IETA welcomes the adoption of the Paris Agreement today, with a clear role for market mechanisms going forward.  

    The final Agreement, which governments approved today, sets out a clear pathway for global climate policy. Governments reaffirmed their commitment to keeping the average global temperature increase to 2°C above pre-industrial levels – and pursue efforts to keep this to 1.5°C.

    It also has a clear role for markets, both through international cooperative efforts and a new mechanism to support sustainable development. These will be underpinned by robust accounting provisions, key to ensuring environmental integrity and trust.

    These are the three elements IETA and 20 other business groups asked for in a letter to governments in October.  

    “We congratulate governments on a historic agreement, grounded in a new spirit of cooperation,” says Dirk Forrister, IETA’s CEO and President. “With the endorsement of more than 190 governments and a strong foundation for markets going forward, businesses can begin planning for a vibrant new future.”

    He adds: “We look forward to keeping the momentum going from Paris as the agreement moves from promise to action.”

  • 07 Dec 2015 12:00 AM | Anonymous member (Administrator)

    Contact: Katie Kouchakji, press@ieta.org

    PARIS, 7 December – IETA is pleased to announce several new appointments to its board and three new fellows.

    At its AGM last week in Paris, the business group’s members elected Paul Dawson from RWE as Chairman of the board, supported by Rick Saines of Baker & McKenzie and Matthew Bateson of Rio Tinto as vice-chairmen.

    The members also elected three members to fill vacancies on the Council, including PwC’s Jonathan Grant, Fiona Wild from BHP Billiton and BP’s Dan Barry.  The AGM also approved Council members’ re-election for another term, including:

    •  Daniele Agostini – Enel
    • Takashi Hongo – Mitsui Global Strategic Studies Institute
    • Arthur Lee – Chevron
    • Geoff Sinclair – Camco Clean Energy
    • Bill Tyndall – Duke Energy
    • Karl Upston-Hooper - GreenStream

    “I am delighted to announce these new appointments, which bring a new range of experience and perspective to our board,” says Dirk Forrister, IETA’s CEO and President. “As carbon markets continue to spread around the world, IETA’s membership is increasingly diverse, both geographically and in terms of sectors, and I feel the new board reflects this.”

    The IETA Council also announced the appointment of three new IETA Fellows:

    • Frank Joshua, in recognition of his role in establishing IETA in 1999;
    • Pedro Moura Costa, for his contribution to developing the carbon market as the co-founder of EcoSecurities, one of the early pioneers of project-based emissions reduction initiatives; and
    • Anne-Marie Warris, for her tireless efforts to bring standards and transparency to the wider carbon market, including efforts on shipping and in establishing the first version of the Verified Carbon Standard in 2006.

    “Frank, Pedro and Anne-Marie bring a depth of knowledge and experience to our Fellows programme, which will be even more crucial as the next wave of emissions trading ramps up,” says Forrister. “Over the years, all three have played key roles in building the profession through IETA.  We are delighted to offer them this tribute for their contributions of time and talent.”

    IETA Fellows are announced annually as the organisation’s highest honours to recognise the contributions of individuals in developing market-based solutions to climate change and in strengthening the role of the IETA in building the profession.

    Please download this press release here.
  • 02 Dec 2015 3:30 PM | Anonymous member (Administrator)
    Contact Katie Kouchakji, press@ieta.org


    PARIS, 2 December – A group of business leaders is keeping the pressure on negotiators to ensure a role for carbon pricing and markets in the Paris Agreement.

    At a special event in the IETA/WBCSD Open for Business Hub, representatives from 15 business groups – representing more than 100,000 business around the world – will talk about why carbon pricing is crucial to them and why markets matter for the climate change agreement being negotiated here in the French capital.

    The event, being held at 5pm today, follows on from a letter that IETA along with 20 other business groups sent to more than 90 governments and UN climate chief Christiana Figueres in October, highlighting the importance of carbon markets to the future agreement. It also called for three simple elements to be included: 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.

    “Markets can take off from a simple provision in the Paris Agreement, with more elaborated rules in a decision – as we saw 18 years ago, with the Kyoto Protocol,” says Dirk Forrister, IETA’s CEO and President. “The three ‘asks’ from business on markets would help undergird the next wave of climate action and allow for action to start before 2020. The longer we delay, the more expensive it will be.”

    “More than 80 governments state in their Paris pledges that they can achieve even greater emissions reductions if they have access to markets, while business has been clear on the need for signals from Paris to mobilise much-needed capital,” he adds. “Negotiators need to ensure that these ambitions are given the right frameworks to flourish.”

    “We need a price on carbon – the WBCSD has been clear on this point for many years,” says Peter Bakker, President of the WBCSD. “In Paris this week, more than 20 business focused organisations and associations are sending a clear message to governments that carbon pricing and market provisions are a crucial element of the Paris Agreement. This needs to come into place so that individual nations can set even more ambitious emissions reduction targets and business can work together with governments to ensure that the rise in global temperatures is limited to under 2°C.”

    He adds: “Business is actively calling for a price on carbon, we stand ready to do our part, and now it is time for governments to follow our lead.”

    The document listing the statements from the 18 business groups that joined the initiative is available here.

    IETA has 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.


  • 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.