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  • 11 Dec 2019 11:00 PM | Anonymous


    IETA COP25 Report
    Day 9 - December 11 2019

    Our frequent updates on the state of the Article 6 negotiations have been some of the most popular events at the IETA Business Hub.

    Dear colleagues,

    It’s been a strange day at COP25. While ministers were exhorting negotiators to narrow the gaps between positions, civil society NGOs stepped up their activities to demand action.

    An occupation of the stage in the main plenary hall this afternoon led to the expulsion of a large group of NGO delegates. Reports circulated shortly afterwards that anyone with an “Observer” badge (which includes IETA’s delegation) was not being allowed into the COP venue. Some of our members were affected.

    News stories emerged later in the afternoon to confirm these reports, and as things stand right now (0200 on Thursday morning), we are not sure whether any Observers will be allowed back into the IFEMA venue tomorrow. We have been told however that business NGO leaders are in talks with the UNFCCC secretariat to try to secure entry for their delegates.

    Hopefully by the time you read this the issue will have been successfully resolved. Please do keep en eye out for emails or for announcements on the UNFCCC website.

    None of this affected IETA’s activities today: we had perhaps the busiest day of this COP on Wednesday, with standing room only events, including another very popular discussion on the state of the Article 6 talks.

    There was also a brief interlude in the middle of the day when the European Commission launched its Green Deal, targeting net zero carbon by 2050. The Commission laid out a long list of legislative initiatives that will include ramping up the emissions reduction goal for 2030 as well as a border carbon adjustment. The Council is due to meet tomorrow to vote on the package — it will require a unanimous vote to proceed.

    As to the negotiations themselves, there were few indications that talks had advanced significantly. Sources continue to identify corresponding adjustments, the CDM transition and Share of Proceeds across both Articles 6.2 and 6.4 as the main sticking points. Strenuous efforts are being made to craft a “landing zone” that may permit an outcome in Madrid that at least allows work to start on the architecture of the new mechanisms.

    Lastly, I hope you also saw our press release from earlier today about the election of Jonathan Grant of Rio Tinto as IETA Council chair at Tuesday’s Annual General Meeting. The AGM also elected Lisa DeMarco of DeMarco Allan as co-vice chair, joining Christine Faure Fedigan of ENGIE.

    Thursday at the IETA Business Hub

    Thursday is the last day of side events at this year’s COP (though there will be a press briefing on Friday at 1330 to update on the state of affairs in the negotiations).

    The day kicks off at 0930 with VNV Advisory hosting a session on Asian carbon markets. Sandeep Roy Choudhury of VNV and a panel of project developers will review several carbon reduction projects in the region that are generating credits.

    At 1100, IETA and the University of Maryland present the results of their modelling project on how international cooperation could enhance abatement and save money. It will focus on how to harness the potential of Article 6 to achieve the Paris goals.

    The German environment ministry will host a discussion at 1230 on how carbon markets and climate finance can combine to achieve ambitious NDC goals. Representatives from Senegal will showcase how these activities support in achieving their NDC targets as well as readiness preparations for next generation carbon markets under Article 6.

    At 1400, IETA’s Katie Sullivan will moderate a discussion on carbon pricing and cross-border cooperation in the Americas. A panel of guests from a variety of jurisdictions and markets will take stock of progress in developing carbon markets and how different national and sub-national areas are collaborating towards the development of “carbon clubs.”

    Our final formal side event of COP25 at 1530 will review the cancellation of voluntary and compliance market credits and allowances can enable voluntary action. Panelists will compare the results of cancelations from both types of market and look at the role for voluntary markets after 2020.

    We will end the day with an IETA reception at 1700, and the award of the annual Carbon Pricing Champion Award. Make sure you’re there to toast the winner and to compare your experiences of this year’s summit with other guests!


    Kind regards,

    Alessandro



  • 10 Dec 2019 10:59 PM | Anonymous

    It’s been a day of radio silence from the negotiating rooms at COP25, as the negotiations shifted into a higher gear, but in a closed setting. The Article 6 draft text is now with the Chilean Presidency after the SBSTA closed its session at around 0200 this morning without making any further headway.

    The Presidency this morning circulated the texts among Parties and asked the climate ministers of New Zealand (James Shaw) and South Africa (Barbara Creecy) to facilitate discussions at ministerial level. Parties were encouraged to focus on where convergence can be found, rather than on drafting new text or adding new options.

    The key issues on their agenda are metrics, inside/outside NDCs, Share of Proceeds, OMGE and the CDM transition. Additional issues include reporting and review cycles, baselines, additionality and Article 6.8. IETA observers and members coordinated our input to these issues and transmitted them to the Parties as well.

    Parties met for informal discussions in closed session throughout the afternoon, discussing baselines and additionality, corresponding adjustments, and reporting and review for two hours each.

    The goal is to find convergence on the technical parts of the texts – before ministers take over and sort out the political issues. Working in an informal setting, and under time pressure, negotiators are showing willingness to compromise on the remaining technical issues. The Presidency is seeking inputs on potential compromises, before a new text can be produced. 

    Wednesday at the IETA Business Hub

    Wednesday starts at 0930 when Katie Sullivan will be in conversation with Alastair Handlery of Carbon Credit Solutions. Alastair will present CSS’ Methane Abatement Project Platform, a software system that helps quantify site-specific methane emissions.

    At 1100, Viresco Solutions will host a discussion at which Bayer will present its measurement, monitoring, reporting and verification framework that is aimed at scale Climate Smart Agriculture practices for collective action to reduce on-farm emissions.

    At 1230, we welcome the Harvard Project on Climate Agreements, who will host a discussion on how to realise the potential of Article 6. Professor Robert Stalins of Harvard will moderate a high-level panel that will examine the potential for Article 6 to decrease mitigation costs and incentivise increased ambition.

    The Asia Society Policy Institute will take over at 1400 to look at the latest developments in efforts to link carbon markets in Asia. Speakers from Korea, Thailand, the Asian Development Bank and New Zealand will identify specific opportunities and benefits of further cooperation – covering ETSs, offset projects, and other potential cooperative avenues.

    At 1530, IETA will host a special panel discussion to review the state of the Article 6 negotiations, the remaining sticking points (we can probably guess a few already), and what the priorities should be for governments, the private sector and civil society. Rick Saines, the outgoing IETA board chairman, will moderate a discussion that we hope will include representatives from countries and the UNFCCC.

    At 1730, the Climate Advisers Trust will host a session to introduce a new model for enhancing ambition: “Contingent International Contributions and International Mitigation Partnerships for Forests”. Speakers from the Environmental Defense Fund and Climate Advisers Trust will outline the new initiative.

    The evening will close with cocktail receptions hosted by the Asia Society Policy Institute and Climate Advisers.

    We will share any important updates or new text as soon as it comes out.

    Kind regards,

    Alessandro



  • 09 Dec 2019 10:59 PM | Anonymous

    SBSTA negotiators posed for the traditional "family photograph" after they completed their discussions on Article 6 this evening. The text now goes to ministers for political discussion.

    Dear Colleagues,

    As we put the finishing touches on today’s email, negotiators agreed to forward the Article 6 texts to a SBSTA plenary for adoption. Food and drink options in the IFEMA aren’t all that great after hours, so we hope they, and our observers, have stocked up; it could be a long night.

    Today’s business started with the contact group resuming at 1000. After the second version of the texts appeared late on Saturday, Parties spent Sunday in bilaterals, and today was the first chance for them to exchange ideas in the wider group.

    According to our people in the room, the interventions were more businesslike than before, with Parties mostly restricting themselves to suggestions for improving the language in the proposals.

    After the informal concluded at around 1300, the co-facilitators retired to draft a new version – the third at this COP – that finally appeared at around 2015 this evening. Initial impressions from our text experts were that the drafting had been done very carefully to improve the structure and flow of the proposals, but that difficult issues remained. The text itself will need to be further improved before it can enter the high level political process.

    The contact group on Article 6 resumed at 2200, and by 2220 it had agreed to forward the text to the SBSTA plenary.

    At midnight, draft decision text for all SBSTA Article 6 decisions was published, reading: “The draft decision text is being forwarded for consideration at CMA 2 recognising that this text does not represent a consensus among Parties and that further work by the CMA is necessary to finalise the decision.”

    The SBSTA plenary was expected to meet in the early hours of Tuesday to approve the text. As of 0130 on Tuesday morning it had yet to convene.

    This means that, even if Parties are not satisfied with the current text, they are giving the green light to pass it over to the Chilean Presidency – who will handle the process from now on.

    Monday at the IETA Business Hub

    Late this afternoon, Andrei Marcu from ECSDT hosted an interesting side event at the IETA Business Hub involving several Article 6 negotiators. Panelists identified three major areas of disagreement: corresponding adjustments, CDM transition and Share of Proceeds, while several other points of divergence were less critical.

    There was also some consensus that the Article 6.4 text is rather more complete than the Article 6.2, and that major questions still need resolving in the latter.

    Furthermore, the lack of clear options on Article 6.8 text leaves it open as to whether there should be a supervisory body or not. Setting in place a a task force to work on the topic would acknowledge the very existence of non-market mechanisms, whereas leaving it to a SBSTA to come up with a workplan could leave the mechanism in potential limbo.

    Tuesday at the IETA Business Hub

    Our public event schedule begins at 0930 with an event sponsored by the Climate Action Reserve and the Climate Registry. The panel will discuss the difficulties in decarbonising the transportation sector, and review the state of policies at local and regional level.

    At 1115 the discussion shifts towards action on transportation, as senior transportation executives look at the latest initiatives to develop low- or zero-carbon transportation.

    We return to the topic of carbon capture and storage at 1230. The Global CCS Insiutute will consider how to translate bold ambition, and today’s roster of just 19 operational projects, into the more than 2,000 operating projects worldwide that are needed to decarbonise the world’s economies.

    Please be aware that IETA’s Council will meet tomorrow from 1400-1700 at an outside location.

    At 1400 IETA members ALLCOT will share details of their Open-Source Sustainable Development Goal Quantification. This methodology is being developed to establish measurable co-benefit SDG outcomes that can help generate a fair carbon price.

    REDD+ will take centre stage at 1530, as Verra leads a panel discussion on how emerging markets can help drive demand for REDD+ activities. Government and project representatives will share the latest approaches to nested REDD+. Verra will sponsor a drinks reception afterwards at 1700.

    Meanwhile, GEM returns to the stage at 1700 to present a live demonstration of their new meta-registry for trading carbon instruments under Article 6.

    While IETA will hold its Annual General Meeting at an offsite location, the final event of the day at 1800 sees BusinessEurope present a discussion on industrial strategy to help climate ambition. Industry associations from Europe, Brazil and Indonesia will showcase their experiences and ideas on effective cooperation with their national governments on climate policy.

    There will be a reception specifically for journalists at 1800 to discuss carbon capture with members of the Global CCS Institute. At 1830 and 1930 there will also be receptions at the IETA Business Hub sponsored by ReGen Future Capital and BusinessEurope respectively.


    Kind regards,

    Alessandro



  • 08 Dec 2019 9:00 PM | Anonymous

    After the very delayed appearance of new texts for Articles 6.2 and 6.4 yesterday, Parties cancelled the scheduled informal consultations in the evening, preferring to consider the new iterations at more length.

    This afternoon the co-facilitators Peer Stiansen and Hugh Sealy held bilateral meetings with groups and individual Parties, and we understand that many expressed concerns with the latest iterations.

    Our own observers have also been studying the text today and report that, while the new versions represent a step forward, there is still a great deal to be done before they can move forward to the next stage of the COP.

    The intention of the drafters was to refine the text to the point where the only remaining issues were the key elements that need political decisions: limits and safeguards; metrics (whether Article 6 will use tonnes of CO2 or other measures); inside/outside NDCs; non-NDC uses (such as CORSIA); accounting for 6.4 units; Share of Proceeds and OMGE; and the CDM transition.

    However, our observers say the text is inconsistent, “messy”, and poorly drafted in places. In addition to the topics mentioned above, they highlight concerns with text sections covering corresponding adjustments; baselines; additionality; and the criteria for transitioning CDM projects to the new mechanism.

    Article 6 also has considerable implications for the voluntary sector, and IETA members have also been discussing the impact that elements such as inside/outside NDCs, Share of Proceeds and OMGE may have on that market. 

    What happens tomorrow is uncertain, though we expect there to be a further iteration of the texts. We anticipate that there will be more bilaterals in the morning, a new text, and then more discussions in the afternoon. 

    Since SBSTA has to complete its work on Monday, whatever happens after tomorrow will be directed by the Presidency. We recall that last year the Presidency appointed two Parties, supported by the co-facilitators, to direct the political process.

    In short, it could be a very long day tomorrow.

    Monday at the IETA Business Hub

    Monday kicks off with two sessions sponsored by Mars. The first, at 0930, is on carbon accounting in the land use and agriculture sectors. Representatives of the Gold Standard and WWF will participate in the discussion.

    At 1100, the second session with Mars will look at how transactions architecture like the Emergent Forest Finance Accelerator can help scale up financial support for tropical forest protection through REDD+.

    The Edison Electric Institute hosts an event at 1230 that will feature leaders from US power utilities, discussing their collective efforts to reduce emissions in the US, and the challenges of reaching net zero by 2050.

    At 1400 the Arbor Day Foundation will explore forest restoration, looking at both market-based and non-market based ways in which large-scale planting can be achieved.

    Methane emissions from oil and gas in Canada will be the topic at 1530. Bluesource Methane will lead a panel discussion exploring how Canada and Alberta's new methane regulations have fared in their goal of a 45% cut in emissions by 2025.

    At 1700 GEM's Wayne Sharpe will host a discussion with CGN Certification into the province of Galicia's carbon market, which will use an electronic carbon registry and exchange to trade offsets from local reforestation projects.

    Our final event of Monday will be a panel briefing on the state of the Article 6 negotiations, led by Andrei Marcu. An invited panel of negotiators will discuss the outcome of the first week and take stock of where the talks stand. One not to miss!

    Remember, everything you need to know about IETA, its schedule of events and its Article 6 priorities can be found on our COP webpage.

    Kind regards,

    Alessandro

  • 07 Dec 2019 8:44 PM | Anonymous

    "You’d think that with fewer moving pieces, [the process] should be easier, but instead the family just got bigger - the rooms are bigger and still packed this time!" Dirk Forrister talking to the press about the relative prominence of Article 6 at this year's COP.


    Dear Colleagues,

    With little public progress being seen in the negotiations, Friday at COP25 was a “holding” day for most observers. Nevertheless, we expect new text to be issued at around midday tomorrow, which may represent the first step forward at this COP.

    Last night’s “informal informal” session saw Article 6.4 discussions covering accounting for single-year vs multi-year NDC targets, baselines and additionality, as well as some time spent on methodology options for the 6.4 mechanism.

    Today’s action began with a Heads of Delegation meeting with the SBSTA chair, focusing on three main issues: Share of Proceeds/OMGE, accounting and corresponding adjustments and the CDM transition to the new 6.4 mechanism.

    Negotiating sessions were again in an “inf inf” setting, and dealt with Article 6.2 topics including how to deal with NDCs that are measured in non-GHG metrics, timing of corresponding adjustments and whether adjustments should be done annually or over longer periods and methodologies for calculating NDCs. On Article 6.4 there was discussion of whether to review existing CDM methodologies and accreditation standards.

    Several observers remarked on the length of some interventions that interrupted the flow of the talks, and they suggested that this will have blocked progress and put the co-facilitators in a difficult position when it comes to creating a new version of the text that provides progress, without being seen to overstep the Parties’ wishes.

    The meeting closed at around 1900 hrs and a new text will be drafted overnight; it’s likely this text will be released around midday tomorrow, after a further Heads of Delegations meeting.

    The co-facilitators indicated that, while the new draft will follow Parties’ input, they will be “bold” in their ambition for the next version. They conceded that Parties may not be happy with the text’s reflection of their individual positions, but the draft will aim at a good compromise, based on where the co-facilitators see the “landing zones”.

    The meeting closed at around 1900 hrs and a new text will be drafted overnight; it’s likely this text will be released around midday tomorrow, after a further Heads of Delegations meeting.

    It’s apparent that there has been no significant movement as yet by Parties, and while the more seasoned observers say this is to be expected, it does leave very little time for SBSTA to complete its work. It also suggests that ministers may have a full plate of political decisions in front of them when they arrive.

    Today at the IETA Business Hub

    We began with a session on how market-based mechanisms such as pricing for “blue carbon” may help cut emissions and raise resilience. Abyd Karmali of Bank of America led a discussion that included insights from the new Ocean Risk and Resilience Action Alliance.

    The New Climate Institute led a discussion on how emission-cutting projects can also address sustainable development goals. Using SD indicators is the key to quantifying targets that can improve implementation and achievement of sustainability goals.

    American Carbon Registry hosted a discussion on the implementation of the CORSIA aviation market, giving a state-of-the-market update as well as delving into the interconnections between the Paris Agreement, the UNFCCC and ICAO.

    Dirk Forrister, Steve Rose from EPRI and Leon Clarke of the University of Maryland participated in a very successful BINGO Day event, presenting the results of this year’s modelling study on the potential value of Article 6. Attendees were impressed by the sheer scale of savings and additional abatement opportunities that exist under a well-designed set of market mechanisms.

    Back at the Business Hub, IPIECA presented a session on how technology and nature can cooperate to boost climate ambition and outcomes. Shell’s David Hone led the discussion with IPIECA, IETA’s Katie Sullivan, David Antonioli of Verra and Maggie Comstock of Conservation International among others.

    Our final event of the day was hosted by Nigeria’s Kaduna state. Representatives from the Nigerian Climate Change Investment Initiative discussed climate-smart agriculture and agroforestry. Kaduna state is seeking partners, funding and technology support for their initiative.

    Activity wrapped up with a reception hosted by IPIECA, supplemented by some very tasty Nigerian snacks. Thanks to NCCII for bringing the spice!

    Saturday’s Hub Activities

    IETA will host three events tomorrow, kicking off at 1030 with a presentation by WaterIsLife on how to solve the world’s water crisis.

    At 1200, the UNFCCC will showcase its initiative that establishes multi-sectoral national committees to cooperate on developing market mechanisms.

    Finally, at 1400, S&P Global and the Principles for Responsible Investment take over the Business Hub to present an event on how to accelerate the response of business and investors to climate risk. The session will end with a reception at 1630.

    On Sunday the COP grounds will most likely be closed, and IETA will resume its schedule of side events on Monday at 0800. We will send out a daily report on Sunday to review Saturday’s progress of the Article 6 talks and give you an update on our event programme for Monday.

    Lastly, a quick reminder of some useful links:


    IETA's COP25 homepage

    UNFCCC latest texts (Wednesday's versions): Article 6.2Article 6.4 

    IETA's 2019 Annual GHG Report

    Kind regards,

    Alessandro



  • 07 Dec 2019 8:42 PM | Anonymous

    Somewhat later than originally planned, the UNFCCC has published updated texts for Article 6.2 and Article 6.4.

    We'll provide a reaction from our observers in tomorrow night's email.

    Until then,

    Alessandro


  • 05 Dec 2019 11:00 PM | Anonymous

    Delegates lining up to hear about IETA's new Markets for Natural Climate Solutions initiative at the Business Hub.

    Dear Colleagues,


    Thursday saw IETA’s schedule hit top gear as well hosted two launch events and saw a packed side event room for all our events. Thanks to everyone for making it such a busy and successful day!

    We’d like to remind you that Friday is also Business and Industry NGO (BINGO) Day, and that there is a full slate of events starting at 1315 at Room 2 in Hall 4. Full details can be found here.

    Negotiations update

    Things were just as busy, if not quite as successful, in the negotiating rooms. After talks on Articles 6.2 and 6.4 were left incomplete last night, delegates met again this morning in closed groups to work on the more technical issues. 

    There were few opportunities for our observers to get into the rooms today, as much of the discussion was held in closed session to allow Parties to speak more freely.

    The talks moved into “informal informals” in the afternoon to go through the text line by line. We’re not clear just how far Parties managed to get through Article 6.2, since they went back into session this evening.

    The goal is to produce a new iteration of the texts either tomorrow or early Saturday, giving time for more talks and amendments. The SBSTA chair has left time for a further iteration to be produced after the weekend and before SBSTA is scheduled to close on Monday. At that point the text will be sent up to heads of delegations and to ministers for political discussion.

    At the IETA Business Hub today

    Thursday saw the highest attendances at the IETA Business Hub so far, with two launch events filling the room and leaving many attendees peering in through the doors.

    Our first event was a well-supported session on the potential of carbon markets in the Southern Europe and Mediterranean regions, in which speakers laid out the options and requirements for market development in the region.

    ICROA’s session on how to scale up private sector voluntary action saw a packed room – and lounge area – gather to hear the readout from this year’s State of the Voluntary Market Report. EcoSystem Marketplace reported that demand for offsets from natural carbon solutions drove demand for forestry and land use credits up by 264% between 2016 and 2018. You can read their new report here.

    It was no coincidence therefore that the biggest event of the day was the launch of IETA’s new initiative, Markets for Natural Climate Solutions. Dirk Forrister and Simon Henry, our director of new carbon markets, hosted a wide ranging discussion with key stakeholders – and some observers from the NGO community. Make sure to visit the Markets for NCS webpage atwww.ncs.ieta.org, and follow on Twitter at @MarketsNcs.

    We also held sessions on how changes to processes are poised to bring time and cost savings to monitoring, reporting and verification procedures, and on how pricing carbon impacts competitiveness.

    We closed the day with a reception, kindly hosted by the Boilermakers Union and the International CCS Knowledge Centre.

    Friday at the IETA Business Hub

    Tomorrow IETA hosts six events at the Business Hub, and we’re also participating in Business and Industry Day events throughout the day. Make sure you check out the BINGO Day schedule which is here, as well as IETA's own side event schedule here

    Please note that we have added one event at 1700 which has not been updated in our online guide.

    We kick off at 0900 with an examination of how nature-based solutions can help reduce emissions and boost climate resilience. IETA board member Abyd Karmali will lead the discussion with representatives of AXA, Oceans Unite and the Global Resilience Partnership.

    At 1030 we’ll host an event entitled “Sustainable Development Impacts Under Article 6”, which will highlight how market mechanisms can help meet the Sustainable Development Goals. We’ll hear from the Gold Standard, NewClimate Institute and the Center for International Environmental Law.

    Nitrous oxide is the topic at 1200, with the Nitric Acid Climate Action Group: representatives from GIZ, the World Bank, the Government of Pakistan and Germany’s BMU will investigate innovative ways to finance emission reductions from nitric acid production.

    We’ll provide an update on the CORSIA international aviation carbon market at 1330. IATA, Germany’s BMU, Airlines for America and the Oeko Institute will examine where ICAO is with the implementation of CORSIA, focusing on the technical rules.

    At 1500, as part of BINGO Day in Room 2 of Hall 4, IETA will present findings from its groundbreaking modelling project carried out with the University of Maryland, that shows how an efficient and robust Article 6 can lead to billions in savings, and in additional abatement opportunities to reach the Paris goal.

    At the same time in the IETA Business Hub, Shell will moderate an event examining how nature and technology can be utilised to enhance ambition - both in terms of accelerating GHG reductions but also to bring co-benefits through improved environmental and social performance.

    At 1700 we have added a new event: the Nigerian state of Kaduna will present a session on how to build resilience through adaptation measures, and GHG reduction by establishing climate-smart livestock production and agroforestry programmes.

    That’s all for today. Remember you can find all the information you need on BINGO Day and on IETA’s schedule of events, as well as our COP priority papers and a quick Guide to Article 6 and why it matters, at the IETA COP25 webpage.

    Kind regards,

    Alessandro

  • 04 Dec 2019 10:59 AM | Anonymous



    ICROA's Antoine Diemert found himself next to UNFCCC Executive Secretary Patricia Espinosa at a photo-call during a side event on reducing emissions from travel and tourism.

    Dear colleagues,

    Day 3 at COP saw the first really new negotiating text of the session, though it does not appear to have bridged the deep divides that remain between Parties on key issues. There were some complaints that this text has been issued too quickly for Parties to review it sufficiently, but there was a general sense that it should still form the basis of negotiations.

    At this morning's initial meeting of Heads of Delegations, various Parties reiterated their unhappiness with a familiar list of items: Share of Proceeds and OMGE under Article 6.2, CDM transition, and double counting/ corresponding adjustments. Slimming the text down may have only served to show the divisions in greater relief. 

    The talks moved into a contact group in the afternoon, with a packed room hearing that co-facilitators Sealy and Stiansen would organise meetings to discuss issues with interested Parties.

    The contact group discussed Article 6.8 and appeared to be moving towards a decision on whether a supervisory body for non-market mechanisms is needed. Talks on Article 6.4 focused on corresponding adjustments, permanence and reversals and authorisation of activities.

    The session closed before there was time to discuss Article 6.2, and this will be addressed tomorrow. The morning session will be restricted to Parties only, to focus on technical issues on Article 6.2 and some outstanding Article 6.4 items.

    IETA has today published a short Guide to Article 6 that explains why we think it’s a critical component of the progress to meeting Paris Agreement goals. Please feel free to distribute it among your networks. It’s also on our COP25 webpage.

    Wednesday's events:

    Away from the negotiations, IETA held a full day of side events, kicking off with a session with Global Environmental Markets on how new technology will boost ITMO trading under Article 6. 

    We then hosted a very full and successful session on the state of play in governing carbon capture and storage. IETA Board member Arthur Lee led a discussion with representatives of the IEA, Occidental, Petrobras, the Global CCS Institute and ERM.

    Dirk Forrister and Lisa DeMarco flew the flag for IETA at an EU-organised event on how to meet NDCs using carbon pricing. IETA offered an update on the developments in the various operating markets.

    The EU ETS finally got a look-in today with an event sponsored by our partners Vertis Environmental Finance. A second event at our own Hub featured Sam van den Plas of Carbon Market Watch and Katerina Koliacova of Vertis discussing the lessons of Phase 3 and the outlook for Phase 4 of the European market.

    Our final event was IETA’s traditional Welcome Reception, at which we partnered with Natural Capital Partners to recognise the UK with a Net Zero Award. “The U.K. has a long history of innovation in market-based mechanisms and in climate ambition forged in a bipartisan spirit,” Dirk told the assembled guests. The award gained a rapid response from next year's COP President, former UK climate minister Clare Perry (see image below).

    At the IETA Business Hub on Thursday

    Our schedule on Thursday at the Hub starts at 1030 as the European Bank for Reconstruction and Development, together with South Pole, host a session on how markets can help support the low carbon transition in the Mediterranean region.

    At 1200, ICROA will hold an event to discuss the outlook for voluntary action after 2020. This event will feature Kay Harrison, New Zealand’s climate ambassador, together with Stephen Donofrio of Ecosystem Marketplace and David Hone of Shell. This event coincides with the publication of this year’s State of the Voluntary Markets Report.

    At 1330, the government of Germany and the OECD will present a discussion on the impact of carbon pricing on competitiveness, featuring Jane Ellis of the OECD an our own Stefano De Clara.

    Dirk Forrister will also be participating in a high-level dialogue on forestry at 1300 in Room 25 in the North Convention Centre.

    EBRD and South Pole will combine again at 1500 to present a discussion on the issue of MRV, and a new advanced approach that cuts down on the time needed to carry out the process.

    Our final event of the day will be the launch of a new IETA Initiative: Markets for Natural Climate Solutions. Dirk Forrister will present the new initiative, together with representatives from EDF, Shell, BP and Arbor Day Foundation. We will be issuing a press release and launching the Markets for NCS website as well.

    Remember that you can find our full schedule of events on our COP2 webpage here


    Kind regards,

    Alessandro


  • 04 Dec 2019 9:31 AM | Anonymous

    As promised, the SBSTA chair has today issued new text for Article 6, which you can find on the UNFCCC website here (Article 6.2) and here (Article 6.4).

    There will be a Heads of Delegations meeting from 1100 to 1300, and contact groups will reconvene from 1300 to 1700. We'll report back as normal this evening.

    Kind regards,

    Alessandro


  • 03 Dec 2019 9:46 PM | Anonymous

    Activity picked up on Tuesday as IETA’s Business shifted into high gear with a full day of events. We hosted events on response measures, Japan’s Joint Crediting Mechanism and a half-day Business Dialogue on Carbon Markets and Article 6. Part of this afternoon event included an in-depth look at markets in Latin America as well as a report on the state of the negotiations.

    Article 6 negotiations

    Speaking of which, talks are progressing steadily – or as steadily as they normally do in Week 1 of a COP. In the morning the chair of SBSTA, Paul Watkinson, held a closed meeting with Heads of Delegations, at which some Parties outlined their positions coming into the talks.

    Later, the Article 6 contact group convened; much of the early discussion was on article 6.8 (chaired by Per Stiansen of Norway), before parties moved on to discuss Article 6.4 under the chairmanship of Hugh Sealy of Bahamas. There were numerous interventions from Parties concerned issues over overall mitigation of global emissions and Share of Proceeds, corresponding adjustments, as well as how to handle activities undertaken inside and outside of NDCs.

    A new version of the Article 6 text is expected tomorrow, at which point we may learn more about Parties’ positions and the prospects for convergence. The goal is to clean up the text, remove redundancies (particularly in Article 6.8) and make clear those issues that require political direction.

    Heads of delegations will meet after the new text is published.

    IETA Business Hub

    Wednesday’s schedule kicks off at 1030 with a session on how stakeholders can benefit from ITMO trading under Article 6. Wayne Sharp and Josh Brown of Global Environmental Markets will lead the discussion.

    Chevron will host an event at 1130 looking at the state of global regulations of carbon capture and storage. IETA Board member Arthur Lee will moderate, with contributions from ERM, Occidental Petroleum, the Global CCS Institute, University of Texas and the IEA.

    At 1230, IETA’s CEO Dirk Forrister will join a discussion at the EU Pavilion next door on how Parties can meet their NDCs through use of carbon pricing. Dirk will be joined by representatives of the World Bank, SinoCarbon and California’s Air Resources Board.

    At 1300 we will host a session on African perspectives of Article 6. Representatives of regional groups and negotiators will report on early pilot projects and Parties’ readiness for Article 6.

    Europe’s market comes to the fore at 1430, when Vertis sponsors a session on the lessons learned from Phase 3 (2013-2020) and the outlook for Phase 4 (2021-2030) of the world’s largest market.

    IETA will host its first event of this year’s COP on Natural Climate Solutions at 1600 when Simon Henry our head of carbon market development, leads a discussion on how private sector finance in NCS can be scaled up to help meet the Paris objectives.

    And at 1730 IETA will host its annual welcome reception at the Business Hub. We’ll also use the occasion to join with Natural Capital Partners present the Net Zero Award, recognising the best national approach to enabling private finance to meet the net zero goal. Mark your diaries!

    Remember that you can find full details of our Business Hub agenda and on COP25 on our dedicated webpage at: https://www.ieta.org/page-19038

    Kind regards,

    Alessandro

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