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CEPS Carbon Market Forum: New Market Mechanisms under the AWG-LCA
The CEPS Carbon Market Forum Task Force on New Market Mechanisms under the AWG-LCA of the COP is the first initiative of the newly launched CEPS Carbon Market Forum, a three-year umbrella programme for carbon market-related activities, which will provide a neutral space where policy-makers and regulators can meet carbon market stakeholders to discuss carbon market regulation, and general policy issues. The CEPS Carbon Market Forum will be headed by Andrei Marcu.
COP 17 in Durban has adopted the text proposed by the AWG-LCA on “Various Approaches, including New Market Mechanisms” which decided that:
a. The COP defines “a new market mechanism operating under the guidance and authority of the COP.
b. Parties may … develop and implement such approaches in accordance with national circumstances.” The text (para 73) also speaks of the fact that “various approaches, including the opportunity for using markets ... must meet standards that deliver real, permanent, additional and verified emissions reductions”. Para 74 refers to a “work programme to consider a framework for such approaches”.
In both cases work programmes were mandated during 2012 under AWG-LCA, leading to decisions at COP 18. The EU, as well other Parties, will make submissions by 5 March 2012. The CCFM “TF on New Market Mechanisms” will seek to provide its input through:
• An “Interim Report” leading to the mid-year meeting of the UNFCCC in Bonn in May 2012
• A “Final Report” that will be issued in September 2012
The following process is currently envisaged for this TF, and will be discussed with the Membership and the Advisory Committee:
• “Pre-March 5th submission” meeting: 23 February
• Full-day meeting: end of March (21st or 23th) 2012 to examine the March 5th submissions and start work on the Interim Report
• One or two more meetings are envisaged before the May SB meetings in Bonn
• Release of Interim report at the beginning of May 2012
• We envisage participation from the European Commission and EU member states to the extent possible in these meetings, as well as other UNFCCC Parties, through their negotiators or Brussels-based representatives.
• Continuation of the TF process, with the Final Report completed for mid-September 2012
Chair: Pedro Martins Barata, former lead negotiator on mechanisms for the EU and a former member and vice-chair of the CDM EB
Rapporteur: Andrei Marcu, Senior Advisor and Head of the CEPS Carbon Market Forum
Meetings:
1st meeting: 23 February 2012 - Agenda
2nd meeting: 22 March 2012 - Agenda
3rd meeting (UNFCCC side event in Bonn): 16 May 2012
4th meeting: 5 July 2012
5th meeting: 18 September 2012
Click here to download the Prospectus and the Registration form.
Presentations 1st meeting:
Views on new market mechanisms under UNFCCC after Durban, Giovanni Bertolino, ENEL SpA
Views on new market mechanisms under UNFCCC after Durban, Eva Filzmoser, CDM Watch
Durban outcome on various approaches, Niclas Svenningsen, UNFCCC secretariat
CEPS New Market Mechanisms under the AWG-LCA, André Aasrud, International Energy Agency
CEPS New Market Mechanisms under the AWG-LCA, Henry Derwent, IETA
Presentations 2nd meeting:
How will sectoral crediting work?, Richard Baron, Climate Change Unit, IEA
NAMAs and NMM – what are the concerns?, Eva Filzmoser, CDM Watch
Modalities and Procedures for New Market Mechanism, Liva Andersone, DG Climate Action, European Commission
Japan’s Submissions on Market Mechanisms, Takashi Kono, METI & Y. Mizuno, MOE
Business Requirements of a New Market Based Mechanism, Stephanie Asgill, CO2 Policy Adviser, Shell
Synthesis of Submissions on “Various Approaches, Including Opportunities for Using Markets”, Andrei Marcu, Head, CEPS Carbon Market Forum