IETA COP24 Report
KATOWICE, 11 December - Greetings from snowy Katowice!
After being sent back to work yesterday by the COP Presidency, the Article 6 negotiators produced a new iteration of the draft texts, which you can find here: Art. 6.2, Art 6.4 and Art. 6.8.
Paul Watkinson of France, who led the Article 6 talks, said that potential landing zones had begun to emerge, "but we are not there yet."
On Tuesday afternoon the Presidency held a meeting with Parties to report on the progress of these texts. There remain many issues requiring further consultations over the next few days under the COP, including:
- Share of Proceeds;
- Overall Mitigation of Global Emissions, including a proposal that a portion of all ITMO transfers should be cancelled to increase global mitigation;
- The transition of the CDM;
- Quantification and accounting basis, and
- Corresponding adjustments and related matters.
The COP president told negotiators that, based on the results of the two days' extra talks, "the current approach is exhausted and texts are stuck." From now on the negotiations will fall under the COP presidency's authority.
New text proposals will be prepared in cooperation with experts and released Wednesday morning for ministers to work on. Article 6 talks will be run by the ministers from Chile and New Zealand.
Activity at the IETA Business Hub maintained the hectic pace from Monday, with a very full schedule of side events. The agenda started with three sessions on the green energy transition.The International Energy Agency hosted a discussion on policy packages to support the transition, while Lord Stern headlined an event sponsored by the EBRD looking at how to finance the transition.
Lord Nicholas Stern addresses a side-event at the IETA Business Hub.
Shell then hosted a session highlighting the key technologies that will be needed to drive abatement in sectors like heavy industry and aviation.
Later in the day, the Global CCS Institute examined the role that carbon capture can play, particularly in conjunction with emissions intensive industries such as cement and chemicals.
The final event of the day focused on abatement from transport, with a broad-based panel from all corners of the transport and fuel industries examining the ways in which transport can meet its goals.
For many IETA staff, the afternoon was dominated by the Board meeting and Annual General Meeting. We will be issuing a press release shortly to announce the new board members which we will circulate to all members. Minutes from the AGM will of course be posted on the website.
IETA members gathered for the Annual General Meeting.
Wednesday's schedule begins at 0930 CET with our side-event on China's emissions trading system. Min Li, our China representative, will lead a discussion into how international experiences can contribute to the development of China's market.
At 1100 CET, the Harvard Project on Climate Agreements will host a discussion into the governance of solar geo-engineering, and its interaction with mitigation and adaptation.
The German environment ministry will host three side-events on Wednesday afternoon. The first, at 1230 CET, will look at the growth in adoption of carbon pricing instruments to achieve NDCs. Participants will focus on implementation strategies and particularly on stakeholder engagement.
At 1400 CET, a panel will discuss the benefits of including sustainable development provisions in Article 6, and what can realistically be achieved at this week's talks.
The last event hosted by the German environment ministry takes place at 1530 CET and will examine how international cooperation under Article 6.2 can support otherwise inaccessible technologies.
At 1645, IETA's official COP24 side-event takes place in the Pieniny side-event room (a short walk from the IETA Business Hub). IETA will present new research on how carbon market cooperation can help achieve the financial and mitigation goals of the Paris Agreement. Speakers from Environmental Defense Fund and EPRI will present the early findings of their research - and Dirk Forrister will summarise initial modelling results on Article 6 by Jae Edmonds and his team at the Joint Global Change Research Institute at the University of Maryland.
We hope you'll find it a stimulating day, and it's sure to be made more interesting by the updates that will be filtering out from the negotiating rooms and plenary. Make sure you stop by the IETA Hub in between side-events to catch up on the latest developments from the talks!