IETA Updated Carbon Market Business Briefs Release - Lockdowns in many nations saw a sudden drop in emissions and has fuelled calls for recovery plans to focus on building a clean economy. What are the implications for the world’s carbon markets? How will things look in the near-term and where could they go? This first part will focus on carbon markets in Europe and North America, as we publish the first of IETA’s new Carbon Market Business Briefs.
IETA Updated Carbon Market Business Briefs Release - In this second part, we take a close look at carbon market developments in Asia and South America and the impact of the coronavirus pandemic on progress. Will new markets continue to grow, or will the economic recovery dominate the conversation? How will CORSIA be affected by the sudden drop in air travel? The second half of IETA’s new Carbon Market Business Briefs will be published to complement the discussion.
Results from the 15th edition of our annual survey will be released and discussed, followed by a moderated roundtable discussion. Since 2006, IETA has been surveying its large and diverse membership on the future of carbon markets around the world. Consequently, the survey gives the most complete picture of sentiment in the carbon market and the likely emission trading developments we can expect in the future. In a critical year for carbon markets, the findings cover the effects of COVID-19, expectations for trading systems around the world, the future of the voluntary market, expectations for CORSIA, net zero pledges and Article 6.
Through 2020, not only are countries preparing to submit enhanced NDCs but also post-2020 climate finance pledges. These ambitious efforts now occur amid COVID impact and economic recovery backdrops – along with growing calls to address climate-related systemic risks to the financial sector. Sharing private sector perspectives from across sectors and borders, this joint IETA-CMIA side-event will examine the critical role of market mechanisms to support climate action and clean private investments at scale, while connecting-the-dots on how effective disclosure and risk mitigation can further support the power and impact of these market solutions to tackle climate change.
Voluntary action on climate is growing strongly across the private sector. Corporates are demonstrating a clear appetite to contribute to the goals of the Paris Agreement by committing to carbon neutrality and net zero strategies. In this session, ICROA will give a voice to business, NGOs and market stakeholders to discuss options to maximise high integrity and high impact action now.
This session will explore why there is a growing interest from the private sector in NCS and how it can be realised. NCS could serve as a catalyst for delivering private finance to mitigation activities that help countries reduce their emissions while creating new jobs in rural areas. The session will discuss these opportunities and benefits for countries looking to adopt NCS into their carbon pricing systems. We will hear from financiers on what they are looking for to enable large scale investment and from governments on what action they are taking to incentivise and support non-state actor financing of NCS. We will conclude with thoughts on what actions can be taken forward by business and governments in partnership to further harness the private sector’s interest in NCS.
The EU is leading the charge on climate ambition, but what will the European Green Deal really look like in practice? This event will look to European officials and policy experts to guide us through the EU’s most comprehensive climate package to date. What goals will be set? What will this mean for the EU’s principal decarbonisation instrument, the EU ETS? Beyond the jargon, how might a Carbon Border Adjustment Mechanism actually work? IETA’s virtual session will ask how important the Green Deal is in aiding a post-COVID-19 recovery, and tackle how the EU aims to balance decarbonisation at home with industrial competitiveness internationally.
Attempting to understand the multiple definitions and approaches to “net-zero” climate commitments can be challenging. This timely session will unpack government and corporate net-zero plans and pathways, and hone in on the crucial role that carbon markets must play to facilitate and accelerate these ambitious decarbonisation trajectories. IETA’s session will bring together business, government, and technical experts to discuss why “net zero” means different things to different people, share up-to-date research on how carbon markets can be used to enhance ambition, and examine the latest policy, financing, and corporate leadership innovations in support of Natural Climate Solutions.