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  • 17 Nov 2022 11:54 AM | Anonymous member (Administrator)

    GENEVA, 17 November - At its Annual General Meeting on November 14, the International Emissions Trading Association (IETA) elected a slate of Council members to serve for the coming two years. 

    The AGM re-elected eight Council members for a two-year term:


    Paul Dawson, RWE Supply and Trading

    Lisa DeMarco, Resilient LLP

    Belinda Ellington, Citibank

    Mary Grady, American Carbon Registry

    Abyd Karmali OBE, Bank of America

    Ingrid Parramon, BP

    Rick Saines ONM, Pollination Group

    Jonathan Shopley, Climate Impact Partners

    The meeting also elected one new Council member, Kerry Liebenberg of Linklaters. Kerry replaces David Hone of Shell, who has stepped down after many years of service.

    Further information on IETA’s governance can be found on our website.

  • 01 Nov 2022 11:18 PM | Anonymous

    ITN Business, IETA and ICROA produce news-style programme exploring best practices and innovations on the road to net zero

    Download the PDF version here

    Geneva / London, 02 November 2022

    Reducing greenhouse gas emissions is vital to fighting climate change and the race is on to reach the Paris Agreement’s target of zero emissions by 2050. In the lead up to COP27, the International Emissions Trading Association (IETA), International Carbon Reduction and Offset Alliance (ICROA) and ITN Business have produced a news-style programme, ‘Net Zero: The Integrity Pathway’, showcasing best practices and innovative solutions in carbon reduction and offsetting.

    The programme explores the advances in technology and increase in innovative products and services that are helping companies take huge steps towards achieving their sustainability goals. ‘Net Zero: The Integrity Pathway’ also explores the regulation of what is now a billion-dollar industry, looking at accreditation programmes and speaking to the organisations that are ensuring best practice in the carbon offsetting space.

    Anchored by presenter Clare Nasir, the programme features an interview with Andrea Abrahams, the Managing Director of ICROA, an initiative housed within IETA which promotes best practice when it comes to high quality emissions reductions and the use of carbon credits.  The programme also takes a closer look at the ICROA Accreditation Programme.

    ‘Net Zero: The Integrity Pathway’ also includes a special news report from Singapore, looking at how IETA and the World Bank are working together to further enhance transparency and environmental integrity of carbon credit transactions, through a decentralised metadata platform built on blockchain technology.

    Hosted on IETA.org and newscientist.com, the programme also features reporter-led sponsored editorial profiles from the following organisations. 

    • Abatable – discuss how they are helping companies build credible climate strategies and offset their hard to abate emissions
    • Anew Climate – share how five Metis communities in Canada have come together to help preserve their forests and future proof their livelihoods with Anew’s assistance
    • ClearBlue Markets – demonstrate how they are using their experience and expertise to aid clients make conscious and educated choices about their carbon markets portfolio and businesses
    • C-Quest Capital – founder and CEO Ken Newcombe shares insights on how CQC are working towards a climate-resilient future, where sustainable alternatives are the norm
    • Everland – share how they are connecting communities and corporations in a common cause to generate financial support for the protection of forests, wildlife and people of Cambodia under extreme threats of deforestation
    • Evident – discuss how they are working towards a future where you could know if the products on sale are made from materials certified as Green and ethically sourced
    • Global Carbon Council – explain how they are facilitating the issuance of high integrity global carbon offsets, aiding organisations to meet their goals
    • Incubex – share how they are developing exchange-traded products and digital platforms, that allow companies to meet compliance mandates set by governments
    • KliK Foundation – explain how they are pioneering the international carbon market by developing the first emission reduction programmes under Article 6 of the Paris Climate Agreement  
    • NuSeed – demonstrate how Nuseed Carinata reduces emissions, by replacing fossil fuels, removing carbon from the air as it grows and restoring it to the soil through its extensive root system
    • Pachama – share how they are using innovative satellite-based technology to find the world’s best forest carbon projects, to start an entirely new generation of high quality, low risk forest projects from the ground up
    • PWC – explain how they are not only committed to their own net zero agenda, but are helping businesses put their own pledges into action and ensure the transition to a green economy is done in a fair and equitable way
    • S&P Global – with exchange trading and daily assessed pricing now the norm, the Commodity Insights team at S&P Global are creating assessments, believing transparency is key to the market achieving its full potential
    • SSE - Through innovation and collaboration, SSE are setting their goals high, working towards the possibility of becoming the UK’s leading renewables business
    • Verra – share how their Verified Carbon Standard Programme is the leading standard for land-based projects, ensuring their credibility and integrity. An animation also demonstrates how under the programme, projects are rigorously monitored and audited before they receive the seal of approval.

    Dirk Forrister, President and CEO of IETA said: "IETA is excited to once again join forces with ITN Business to produce a series of informative programmes demonstrating how IETA's membership is rising to the net zero emissions challenge. Last week's UN Climate Change report underlines the urgency for more and quicker action. IETA will continue to play its part to work with countries and companies to achieve their net zero aspirations".

    Nina Harrison-Bell, Head of ITN Business said: “As the most pressing issue of our time, ITN Business are proud to be launching this programme alongside IETA and ICROA, educating companies on best practices in corporate GHG mitigation. In order to reach the net zero targets set out in the Paris Agreement, it’s a subject that cannot be talked about enough if we want to have any chance of saving our planet for the generations to come.”

    Supported by a communications campaign targeting various carbon market participants and a digital campaign surfacing the content to the New Scientist audience, the programme will launch on 2nd November 2022 and will also be shown at COP27 in Egypt. 

    For more information, contact Nina Harrison-Bell on Nina.Harrison-Bell@itn.co.uk

    -----

    About IETA 

    The International Emissions Trading Association (IETA) is a non-profit business organisation created in June 1999 to establish a functional international framework for trading in greenhouse gas emission reductions. Members include leading international companies from across the carbon trading cycle. IETA members seek to develop an emissions trading regime that results in real and verifiable greenhouse gas emission reductions, while balancing economic efficiency with environmental integrity and social equity. For more information visit www.ieta.org

    About ICROA

    The ICROA Accreditation Programme defines and promotes best practice in the financing of high-quality emissions reductions and use of carbon credits as an effective carbon management tool. The Programme is open to all organisations who provide a carbon offsetting service. ICROA accredited organisations may use the ICROA Accreditation Label.

    About ITN Business

    Building on its decades of experience in B2B and corporate communications, ITN Business works with organisations, businesses, and brands to create a deeper, more authentic connection with their people, customers, partners, investors, or the wider world. Industry News is our broadcast news-style programming and bespoke digital campaigns for sectors, charities, and industries, sharing stories of innovation, best practice and thought leadership, to connect with the audiences that matter to our clients, and to ensure longer-term impact. For more information visit: business.itn.co.uk

  • 26 Oct 2022 12:02 AM | Anonymous

    The World Bank, IETA and the Singapore Government Connect Carbon Markets Through Open Data

     

    SINGAPORE (26 October 2022) – The International Emissions Trading Association (IETA) today revealed information on the forthcoming launch of Climate Action Data Trust (CAD Trust), a decentralised metadata system that can link, aggregate and harmonise all major carbon market registry data.

    Climate Action Data Trust (CAD Trust) is a joint initiative of the International Emissions Trading Association, The World Bank and the Singapore government, along with a variety of governments and public and private organisations. It will provide an open-source metadata system to share information about carbon credits and projects across digital platforms, easing future integration of multiple registry systems. CAD Trust uses distributed ledger technology to create a decentralised record with the aim to avoid double counting, increase trust in carbon data and enhance climate ambition.

    Many countries and companies intend to use carbon markets to deliver their contributions to the Paris Climate Agreement. IETA’s review of the latest updates to Nationally Determined Contributions shows that about 80% are interested in using Article 6 trading provisions to meet their goals. To use Article 6, countries must track and report on use of international credits through a registry system. The CAD Trust system will assist in promoting high-integrity systems and digital linkages. 

    The CAD Trust platform will go live in early December, when the public metadata layer will be widely available through https://climateactiondata.org. CAD Trust evolved out of the Climate Warehouse, an initiative launched by the World Bank. For the past three years, the initiative has prototyped a series of simulations of the data system with partner governments, carbon crediting programmes and other organisations. The final prototype ended in August and work is now underway to prepare the data layer to go live.

    Dirk Forrister, President and CEO, IETA, said: “Today’s carbon markets are complex and fragmented, yet they hold the potential for enabling countries and companies to achieve net-zero climate goals. We gathered inputs from many IETA members who took part in Climate Warehouse consultations. They helped us identify the governance functions of the Data Trust that could accelerate work on the common data specifications for future digital registry systems. The resulting Climate Action Data Trust will serve as a public good, providing an accessible, decentralised and secure digital infrastructure that can be used by all participants in carbon markets – acting as an invaluable tool for market communication, trust and transparency.”

    Chandra Shekhar Sinha, Lead Financial Specialist at the World Bank said: “Carbon markets can help countries to meet their climate goals but only if reductions are real and credible. Climate Action Data Trust is an important step towards solving the challenge of standardising and interconnecting carbon market registry systems. Article 6 reporting is going to be an important challenge for our client countries so the idea of building these systems linked to the registry and to the MRV systems will help with the reports that need to be provided for Article 6 and drives transparency in the market.”

    “Carbon markets are critical to mobilise collective efforts to advance global climate action towards Paris Agreement goals. Climate Action Data Trust will put in place key building blocks to operationalise the Article 6 rules on transparency, tracking and reporting adopted at COP26 last year. This is one of the initiatives that Singapore is supporting to advance global climate action,” said Benedict Chia, Director-General (Climate Change), National Climate Change Secretariat of Singapore.

    The Climate Action Data Trust will be an independent entity domiciled in Singapore. It is led by the Council that consists of government representatives and major carbon registries. Climate Action Data Trust will release more details about how it works, its governing bodies and their members in December. The official launch is planned to take place at the Asia Climate Summit 7-8 December in Singapore.

    Media Contact:

    Lukasz Biernacki
    Director of Communications, VCM Initiatives, IETA
    biernacki@ieta.org

    Jon Schubin
    Cognito
    IETA@cognitomedia.com


  • 12 Oct 2022 5:31 AM | Anonymous member (Administrator)

    GENEVA, 12 October – IETA is excited to announce the publication of its first collaboration with Forbes magazine, featured in its latest Forbes 400 issue.  

    The business of net zero looks at what it actually means to reach net zero, why this goal is important, and the different pathways for businesses to achieve net-zero emissions from their operations. Written by experienced freelance journalist Mythili Sampathkumar, the article examines the role of nature-based solutions, projects which deliver more than just emissions reductions, technologies needed for the future, and the importance of flexibility and collaboration.

    “The partnership with Forbes allows IETA to get our message about net zero ambition and why it is good business in front of a new audience, including many C-suite executives,” says Dirk Forrister, CEO & President of IETA.

    “Momentum from the private sector keeps growing, and we welcome any new partners on the race to net zero. Reaching that goal will need a system-wide change in how we do business, so the sooner more organisations join us, the quicker and cheaper it will be to decarbonise.”

    Publication of the section was supported by C-Quest Capital, Drax, Carbonext, Chevron, Ecosphere+, Chia, Vertree and AirCarbon Exchange. The full article is available on the IETA website.


  • 23 Sep 2022 6:40 PM | Anonymous member (Administrator)

    NEW YORK CITY, 23 September - After two and a half days of events discussing carbon markets for net zero, IETA's 2022 North America Climate Summit came to an end on Thursday.

    More than 600 delegates attended the meeting in person, with many more participating virtually in more than 31 sessions covering the state and latest developments in global carbon markets.

    Participants underlined the critical need for carbon markets for companies and countries to meet their net-zero ambitions. 

    There was excitement and strong support for the United States’ Inflation Reduction Act that is aimed at stimulating climate action across the country.

    During the Summit, IETA released an essential framework agreement for secondary market transactions in verified carbon credits. 

    Emphasising the need for the framework, Dirk Forrister, President and CEO at IETA said, "As the voluntary carbon market continues to grow, market participants need to be assured of credit integrity and transact in a safe and efficient manner and effectively manage risks." 

    IETA will now shift its event focus to Latin America; the organisation’s annual Latin American and Caribbean Climate Summit takes place on October 18-19 in Rio de Janeiro. 



  • 21 Sep 2022 2:49 PM | Anonymous member (Administrator)

    NEW YORK CITY, 21 September -The International Emissions Trading Association (IETA) in collaboration with the International Carbon Action Partnership (ICAP) are proud to open the North America Climate Summit (NACS), to be held in New York September 21 and 22 as part of the Climate Week activities.  

    This official Climate Week-accredited event will discuss a wide range of subjects related to emissions trading, including the crucial role carbon markets play in helping countries, regions and subnational jurisdictions achieve their net zero aspirations. 

    “We will discuss what climate leadership looks like, take stock of carbon policy and market developments across the world,” said Dirk Forrister, President and CEO of IETA. 

    “Putting a price on carbon is a fundamental first and necessary step to kickstart action to slash carbon pollution,” said California Air Resources Board Chair Liane Randolph. 

    “I look forward to hearing the conversation in New York on this crucial subject and sharing lessons learned from successful emissions trading programs around the world.” 

    “As we convene for Climate Week NYC under a shadow of climate catastrophes from Pakistan to Puerto Rico, seizing our opportunity to harness the potential of carbon markets is more urgent than ever. The world is clearly ready for carbon markets that deliver," said Fred Krupp. President of the Environmental Defense Fund.

    But to leverage this mounting demand, we must have high quality supply. It will be critical to unite all stakeholders under a clear set of principles for quality, including social and environmental integrity,” Krupp added 

    Registration to attend the North American Climate Summit can be found online here. This hybrid event can also be followed online.

  • 20 Jul 2022 5:38 PM | Anonymous member (Administrator)

    SAN FRANCISCO (20 July) – Washington state and California share an interest in eventually linking their carbon markets, according to a paper by the International Emissions Trading Association (IETA) and the Environmental Defense Fund (EDF). 

    Washington’s rulemaking already adopts many practices from California, including rules governing the use of offsets and the use of a common auction platform to sell allowances. These alignments show substantial coordination and significant forethought, according to the IETA-EDF paper.

    The IETA-EDF paper argues that linking is best achieved after alignment of key program designs. To that end, Washington State’s new carbon market could further facilitate a link with California’s carbon market by making changes to its noncompliance penalties, price ceiling mechanisms, and cap setting processes. 

    “A carefully designed link between California and Washington would reduce costs and enhance ambition”, says Clayton Munnings, Strategic Advisor at IETA.

    “By linking carbon markets, states can boost the benefits of climate action, clean air and the clean energy economy,” said Katelyn Roedner Sutter, Senior Manager for US Climate at EDF.

    “With climate impacts bearing down on communities across the West, we need climate leaders like Washington and California to leverage opportunities that ramp up ambition, and unifying carbon markets across jurisdictions would do just that."

    Regulators in Washington state are presently drawing up rules for the market’s launch next year, after the legislature passed the Climate Commitment Act in April 2021. California’s system has been in place since 2013 and has been linked with Quebec’s carbon market since 2014.

    The paper can be found on IETA's website.

  • 21 Jun 2022 7:08 AM | Anonymous member (Administrator)

    GENEVA, 21 June - Carbon markets around the world are set to continue growing rapidly as countries double down on climate ambition, and as corporates continue to pursue net-zero goals, finds IETA’s latest annual Market Sentiment Survey.

    The growth is expected to extend to the Voluntary Carbon Market, where efforts are underway to scale up supply of offsets to meet growing global demand, according to the survey, carried out by PwC UK's Sustainability and Climate Change team.

    The full report is available at the IETA website

    Prices in the EU Emissions Trading System (ETS) have more than doubled since the beginning of March 2021, when Europe was beginning to emerge from the shadow of coronavirus. Prices in other carbon markets have also risen, though by smaller increments.

    “Europe’s market has shown that carbon markets can be resilient to energy price shocks,” says IETA’s CEO and President Dirk Forrister. “The continued strength of the EU ETS throughout the Ukraine crisis demonstrates that climate ambition can be advanced in a way that reinforces energy security.”

    "This year’s survey reveals bullish sentiment for carbon pricing globally, as price expectations hit record highs across all emission trading schemes surveyed,” says Ian Milborrow, PwC Partner. 

    “Carbon pricing initiatives - which already cover over one-fifth of global GHG emissions - represent a critical lever to deliver the emissions reductions required to keep warming to below 1.5°C.”

    The conflict in Ukraine and the resulting concerns over energy security are likely to lead Europe to adopt more ambitious climate targets. Around half those surveyed this year said they expect Europe to strengthen its “Fit for 55” climate package and this, along with measures to cut Russian imports of fossil fuels and speed up the deployment of renewables, is expected to drive EU carbon prices to an average price of almost €100 in the period 2026-30.

    Most respondents to the survey believe that the agreement reached at the climate talks in Glasgow last year is insufficient to achieve the global goal of net zero emissions by the middle of the century. 52% of survey respondents also say there has not been enough progress in translating commitments into action since COP26.

    “At COP26, consensus was reached to finalise the Paris Rulebook. However, as the survey shows, stronger, more ambitious national commitments will be required to achieve the goals of the Paris Agreement,” Milborrow adds.

    On voluntary markets, nearly three-quarters of respondents – up from two-thirds in 2021 – expect the market to partition between credits for carbon avoidance or reduction on one side, and carbon removals on the other by 2030. Most of those polled plan to use nature-based offsets in their market growth strategy.

    “The voluntary carbon market has a critical role to play in directing private finance towards climate mitigation and nature-based projects. Improving the integrity and transparency of the market will be critical to guarantee its credibility and enable action at scale from the private sector,” says PwC UK’s Ian Milborrow.

    More than 60% of respondents said the voluntary carbon market will be able to accommodate the growth in demand needed to meet net zero commitments.

    “When the UNFCCC launched the Clean Development Mechanism in 1997, there was some doubt that demand would scale up to support the new system,” Forrister says. “That experience taught us that if we do build an ambitious mitigation framework, investment will come, and it will come to the VCM as well.” 

    The survey covers recent progress and expectations for compliance and voluntary markets across several geographies, as well as ahead of COP27.

    Key findings from this year’s survey:

    1. Increased optimism on carbon price expectations as climate ambitions ramp up. Expected prices for 2022-25 and 2026-30 have increased for every market surveyed, in comparison to last year’s survey. 
    2. Just 8% of respondents said the agreement reached in Glasgow at COP26 will be sufficient to achieve the goals of the Paris Agreement.
    3. The largest share of respondents expect the Article 6.4 mechanism to become operational between 2024 and 2025, with another 31% predicting it will start operating between 2026 and 2028.
    4. The US is still unlikely to implement a federal carbon price, despite the expectation that other jurisdictions will launch Carbon Border Adjustment Mechanisms. 
    5. Respondents were cautiously optimistic that the recent initiatives to streamline the voluntary carbon markets and enhance quality – such as the IC-VCM and VCMI – will bring greater transparency and standardisation. 


  • 08 Jun 2022 7:09 AM | Anonymous member (Administrator)

    GENEVA, 8 June - The world’s carbon markets are adapting to meet governments’ strengthened Paris Agreement goals and net zero ambitions, with changes over the past year captured in the new 2022 edition of IETA’s Carbon Market Business Briefs.

    Climate negotiators are gathering in Bonn, Germany to progress talks on implementing the market provisions of the Paris Agreement. Meanwhile, over the past 12 months lawmakers have continued to develop new systems and reform existing ones to meet future goals, a trend that is expected to continue as 2030 draws ever nearer. The updated Business Briefs capture all developments in the 12 months to May 2022.

    IETA’s Carbon Market Business Briefs is a collection of market summaries covering major news and developments across compliance-driven emissions trading, designed to offer executives a quick and accessible overview of all key components and trends in the world’s carbon markets.

    These include briefs on developing markets in Singapore and Germany, the start of China’s national ETS, the latest on Australia’s Safeguard Mechanism, and planned reforms to the EU ETS. The updated collection is available now on the IETA website.

    “For many countries, carbon markets will play a pivotal role in achieving net zero goals, as we are beginning to document in the Business Briefs,” says Dirk Forrister, IETA’s President and CEO.

    “As both governments and the private sector ramp up their net zero ambitions, carbon markets will continue to grow and expand – we won’t reach net-zero without carbon pricing,” adds IETA Managing Director Katie Sullivan.

    “There are some great strong foundations laid and we call on policymakers to keep building on these to deliver the future promised by the Paris Agreement.”

    The IETA Carbon Market Business Briefs outline the coverage, deadlines, penalties, flexibilities, pricing/trading dynamics and other features for each market. The briefs provide commentary from local IETA members and partners on recent market developments and outlooks, including on policy decisions and price movements.

    On 9 June, IETA will be hosting two free webinars as part of its IETA LIVE Series to discuss highlights from the updated Business Briefs and answer questions about carbon markets worldwide. The recordings will be available online after the events. 


  • 25 May 2022 12:04 PM | Anonymous member (Administrator)

    GENEVA, 24 May - IETA, ICROA and ITN Productions collaborate to produce a news-style programme "Net Zero: The Integrity Pathway”.

    Climate change is the most pressing issue of our time and reducing emissions has become vital, but decarbonisation represents a huge challenge for companies. Globally, organisations have a responsibility to act if the Paris Agreement’s climate protection goals of achieving net zero by 2050 are to be achieved.

    The pathway to net zero follows a mitigation hierarchy, which states that organisations should have both long and short-term science-based targets to address greenhouse gas emissions, not only from their own supply chain (insetting), but also offsetting unavoidable emissions by investing in carbon projects.

    IETA, ICROA and ITN Productions Industry News are producing a news-style programme, “Net Zero: The Integrity Pathway.” Anchored by author and presenter Claire Nasir from ITN’s London studios, the programme will educate on best practices in corporate GHG mitigation, including high integrity carbon offsetting and insetting, and why a responsible approach to net zero considers avoiding, removing, and reducing emissions.

    The programme will raise awareness of best practices in carbon reduction and offsetting, showcase the organisations performing well in this area and highlight the benefits and impacts these activities have to individuals and communities on the ground. The programme will also explore the difference between compliance markets and voluntary markets and the latest technological advances and innovations surrounding the trajectory to net zero.

    Featuring expert interviews, news items and reporter-led sponsored editorial profiles from leading organisations filmed on location, the programme will launch in early November 2022 and will be supported by an extensive campaign targeting IETA members and professional networks.

    “Building on last year’s success with ITN Productions in showing how carbon markets work, this year we hope to illuminate public understanding of how businesses are embracing the net zero challenge – with innovation, enthusiasm and the “can do” entrepreneurial spirit of our community," said Dirk Forrister, CEO and President of IETA.

    "We want to feature “the do-ers” who are already showing success on the net zero journey.”

    Nina Harrison-Bell, Head of ITN Productions Industry News said: “We are delighted to be working with IETA and ICROA to make a programme that raises awareness and demonstrates the importance of setting new global standards for high integrity carbon offsetting to help reduce and remove greenhouse gas emissions and shows the organisations who are accelerating progress in the role carbon markets play.”

    For further information or if your organisation has a story to share please contact:
    Lukasz Biernacki, Communications Director at ICROA;
    Jeff Blackmore, Programme Director at ITN Productions or
    Jamie Connolly, Programme Director at ITN Productions.

    About ICROA

    The International Carbon Reduction and Offset Alliance (ICROA) represents the interests of service providers in promoting emissions reductions and offsetting to the highest standards of environmental integrity and in support of the Paris Agreement. ICROA provides an Accreditation Programme and represents its members through advocacy and action-oriented activities aimed at advancing best practice in the Voluntary Carbon Market (VCM). ICROA is a non-profit initiative housed within the International Emissions Trading Association (IETA). www.icroa.org

    About ITN Productions

    ITN Productions produces bespoke creative and commercial content for broadcasters, businesses, brands, rights holders and digital channels. Industry News forms part of this offering and is a communications tool for leading industry bodies and national associations produced in a broadcast news-style programme format, including interviews, news items and sponsored editorial profiles. www.itnproductions.co.uk



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