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IETA statement on EU-California carbon market cooperation agreement

13 Sep 2018 10:42 PM | Anonymous member (Administrator)

SAN FRANCISCO, 13 September -  IETA welcomes the agreement signed today between California and the European Union to strengthen bilateral cooperation on carbon markets.

“It’s encouraging to see the two leading carbon markets taking a serious look at aligning their systems,” said Dirk Forrister, CEO of IETA.

“Their Initiative could inspire others to develop similarly aligned systems, taking advantage of the Florence Process.”

European Climate Action and Energy Commissioner Miguel Arias Cañete and California Governor Jerry Brown today signed a bilateral agreement to boost cooperation on the development of carbon markets.

California and the EU will step up the frequency of exchanges on, amongst other issues, how carbon markets can send near- and long-term signals for investment, address concerns over economic competitiveness and maximise the public benefits of using market revenues.

The partners will issue a report on the outcomes of these exchanges in a year.

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