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COP25 Briefings

  • 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


  • 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

  • 03 Dec 2019 3:20 AM | Anonymous

    Greetings from Madrid! COP25 is now underway, and we’re excited to bring you a digest of the planned programme of talks, as well as a preview of our events at the IETA Business Hub for Tuesday.

    It’s early days, and not all of us are yet on site, but the first impressions from our colleagues on the ground is that Spain has worked a minor miracle to get everything into place at such short notice. We hope this “can-do” spirit will extend to the negotiations ahead…

    Article 6 negotiations

    After the opening ceremonies, the Week 1 work plan for Article 6 negotiations was laid out, which will begin on Tuesday morning with a meeting between the chair of SBSTA (Paul Watkinson) and senior delegation officials.

    The SBSTA chair also issued a reflections document, in which he urges Parties to work quickly and harmoniously to reach agreement on the outstanding items, and lays out the work that remains to be completed. He particularly warns Parties that “business as usual in the way we worked in SBSTA 50 will not deliver.”

    The Presidency plans to host contact groups and informal negotiations each day until Friday, in order to allow plenty of time for Parties to advance the work on draft text. 

    Paul Watkinson intends for the negotiations to produce a first iteration of a revised text by Wednesday  4 December, with a second iteration to follow on Friday 6 December or Saturday 7 December. This leaves room for a further iteration to be released before SBSTA closes on Monday December 9.

    Parties will begin their work based on the negotiating texts from last year’s COP as follows: Article 6.2Article 6.4

    It’s already clear that, like last year, issues such as accounting, treatment of sectors outside the NDC, overall mitigation in global emissions, the share of proceeds, the CDM transition and double-counting are going to be bones of contention among Parties and groups. 

    As you may recall, IETA and EDF issued the Katowice Declaration on Sound Carbon Accounting, and we will be maintaining a high profile on this issue during the talks.

    IETA Business Hub 

    Activity kicks off in earnest tomorrow at our Business Hub. We have five sessions scheduled, but would like in particular to draw your attention to an event that runs from 1400 to 1800 Madrid time, entitled “Business Dialogue on Carbon Markets and Article 6”. The agenda is here.

    This session, supported by the COP Presidency, the ICC, CLG Chile, CEBDS and the World Bank, will see experts explain the benefits of carbon markets, look at some current examples in Latin America and then examine the prospects for Article 6 here in Madrid. We’ll welcome speakers from the UNFCCC, ENEL, the government of Chile, ICAP, DSM, Shell and the World Bank, among others.

    At 1200 we’ll also host an event led by the Japanese Ministry of the Environment, titled “Joint Crediting Mechanism: Latest Updates and Business Engagement”. 

    Our partner ACWA Power hosts a session at 1030 on how to improve inclusiveness to achieve the Paris Agreement’s ambitions. 

    And our last session of the day, held by the European Round-table on Climate Change and Sustainable Transition, will cover response measures with a special focus on Chile.

    IETA’s Business Hub is located in Hall 8 at the COP site, and you can find a map here, as well as our full agenda for the two weeks here.

    Finally, if any of your colleagues would like to receive these emails throughout COP, please don't hesitate to contact me at vitelli@ieta.org.

    Kind regards,

    Alessandro

 

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