IETA welcomes European ministers’ support for markets in 2015 climate agreement
BRUSSELS, 18 September – Commenting on the European Environment Ministers’ council conclusions relating to the Paris agreement, IETA’s Director of International Policy Jeff Swartz says:
“IETA is encouraged that the European Environment Council has given a clear mandate for Europe to negotiate a role for market mechanisms in the Paris agreement. Market mechanisms are one of the few tools in the architecture of the Paris agreement that will maximise the innovation and ‘can-do’ spirit of the private sector in reducing greenhouse gas emissions globally.
“The absence of clear provisions on market mechanisms in the agreement would lead to less ambition by the numerous countries which seek carbon reduction abatement opportunities outside of their domestic borders. It would also send a signal to the private sector that the UN process has failed in its attempts to put a price on carbon.
“Europe’s mandate to its climate negotiators to include markets in the 2015 agreement is a positive signal ahead of the next meeting in October to progress the text before the world gathers in Paris this December to finalise the agreement.”
About IETA: IETA is the voice of business on carbon markets around the world. Established in 1999, IETA's members include global leaders in the oil, electricity, cement, aluminium, chemical, technology, data verification, broking, trading, legal, finance, and consulting industries.