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  • 20 Nov 2017 12:48 AM | Anonymous

    Contact: Katie Kouchakji,

    LONDON, 19 November – The rulebook for market mechanisms in the Paris Agreement progressed slowly over the two-week UN climate talks in Bonn, ending with a mandate for a draft negotiating text to be ready by March.

    The Paris Agreement’s market provisions appear in its Article 6. It establishes an accounting framework for international trading and an emissions mitigation mechanism, drawing from the experience with the Kyoto Protocol crediting mechanisms.

    The Bonn talks focused on draft headers and the key policy elements needed for making the provisions operational. The constructive talks ended in a rocky finish, when countries gave a mandate to the chair of the Subsidiary Body overseeing Article 6 to prepare a draft negotiating text ahead of the next meeting in April. This text will draw on three informal notes prepared over the course of the talks.

    While IETA had called for a draft negotiating text to emerge at Bonn, the work done over the two weeks made substantial progress in laying the foundations for the next steps. Governments also finalised the format and process for the first Facilitative Dialogue, now renamed the Talanoa Dialogue, which will assess progress on cutting emissions and future trajectories. The Fijian President of COP 23 offered the name “Talanoa” to describe the process, using the Fijian word for  frank and open dialogue. 

    “We are starting to get a clearer picture of how governments envisage Article 6 operating, although there are a number of thorny issues to resolve. We also need more clarity on how countries will use it in their national policies,” says Dirk Forrister, President and CEO of IETA. “Over the coming months, we urge governments to accelerate their efforts so that business can start investing and driving forward the low-carbon transition.”

    “As the Talanoa Dialogues progress, governments will consider how and when to strengthen their Nationally Determined Contributions to achieve the Paris goals, so it  will be essential for them to understand how the market flexibilities in Article 6 will work to enable greater ambition.” he adds. “A well functioning international market can tap the power of the private sector to invest at scale and deliver emissions cuts at low cost. That’s why it is key to unlocking more ambition.”

  • 16 Nov 2017 1:42 PM | Anonymous

    BONN, 16 November – IETA and the Climate Markets & Investment Association (CMIA) are proud to announce the Pacific Alliance as the final winners of the Carbon Pricing Champion Award at COP23.

    The two groups awarded the honour to the Pacific Alliance nations – Chile, Colombia, Mexico and Peru – in recognition of the Cali Declaration. In this statement, issued following a summit earlier in the year, the four nations announced their intent to increase efforts to measure and report emissions and to look at establishing a voluntary regional emissions trading market. This move to explore a market is a significant step for the region, and the cross-border collaboration of the four nations could act as a model for other countries in Latin America.

    “The Pacific Alliance nations are a worthy recipient of the Carbon Pricing Champion Award for their efforts to use market forces to cut emissions and build a regional carbon club through aligned climate policies,” says Dirk Forrister, President and CEO of IETA. “Not only could this inspire others in Latin America to follow their lead, it has the potential to create a broader Pacific Rim carbon market. Collaborative efforts will help reduce emissions faster and cheaper than going it alone, and the leadership shown by Chile, Colombia, Mexico and Peru is to be commended.”

    “The Pacific Alliance is a stand out example of regional collaboration, allowing these countries to take advantage of global trading schemes as well as increase investments in actions and new technologies that lead to low-carbon economies,” says Margaret-Ann Splawn, Executive Director of CMIA. “In addition, since this region holds considerable forest reserves there is the possibility of offering compensations at the global level.”

    The award was presented this evening to Chile’s Environment Minister Marcelo Mena at the IETA Business Hub.

    IETA and CMIA would like to thank Ecosphere+ and its CEO Lisa Walker for their continued support of the award. Ecosphere+ is a new venture founded by the Althelia Climate Fund to build markets that put a value on standing forests, incentivise sustainable business models and responsible supply chains.


    Mexico introduced a carbon tax in 2014, and is working on rules to accept certified emission reductions in lieu of payment. Colombia has followed suit, and introduced its tax-and-offset programme this year, and Chile’s carbon tax came into force this year. Peru meanwhile is exploring opportunities to create a crediting mechanism to cut emissions in its key sectors. All four nations are being supported by the World Bank’s Partnership for Market Readiness initiative.

    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 electricity, oil/gas, cement, aluminium, chemical, mining, technology, standards, verification, broking, trading, legal, finance, accounting and consulting industries.

    About CMIA

    CMIA leads a global coalition of private sector actors since 2008. Our diverse membership is comprised of companies and organisations involved in shifting the trillions that will enable a transition to a low-carbon global economy through climate policy, finance and investment. 

    IETA: Katie Kouchakji,
    CMIA: Margaret-Ann Splawn,

  • 10 Nov 2017 3:26 AM | Anonymous

    BONN, 9 November – IETA and the Climate Markets & Investment Association (CMIA) are proud to announce the first Carbon Pricing Champion Award at COP23 to the government of New Zealand.

    The two groups awarded the honour to New Zealand in recognition of its ETS review outcomes, which will bolster the market’s environmental integrity and allow it to be more adaptable to changing circumstances. The reforms, which include five-year rolling supply decisions and a move to auctions, provide clarity and certainty over the future direction of the domestic market, which is now in its tenth year. The changes will also increase the New Zealand system’s harmonisation with other markets, leaving it well-positioned for potential linkages that offer the potential to improve efficiencies and lower costs for participants over time.

    New Zealand is recognised for its leadership on carbon markets the international arena as well. At COP21 in Paris, it launched the Ministerial Declaration on Carbon Markets, which has grown in __ signatories. The group highlights the important role that international market mechanisms will play in enhancing mitigation ambition under the Paris Agreement. This year, the group continued its cooperation in considering standards and guidelines for the environmental integrity of international market mechanisms.

    “The improvements that the New Zealand government is making to the ETS are yet another example of the leadership the country has shown on carbon pricing over many years, and make it a very worthy recipient of the first Carbon Pricing Champion Award at COP23,” says Dirk Forrister, President and CEO of IETA. “New Zealand’s market has operated for 10 years, and the changes will strengthen the market and enhance its flexibility and adaptability. Policy certainty and clarity are vital for businesses, which are making long-term investment decisions now.”

    “New Zealand has been notably consistent in putting carbon pricing at the heart of its low-carbon development plan and NDC,” says Adrian Rimmer, CMIA President. “This award recognises that the new government is not only ensuring clarity for investors by maintaining support for its current market-based policies, but also by showing global leadership through increasing its ambition - such as its plan to shift to 100% renewables by 2035.”

    The award was presented this evening to Kay Harrison, lead negotiator for New Zealand, at the IETA Business Hub.

    IETA and CMIA would like to thank Ecosphere+ and its CEO Lisa Walker for their continued support of the award. Ecosphere+ is a new venture founded by the Althelia Climate Fund to build markets that put a value on standing forests, incentivise sustainable business models and responsible supply chains. 

    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 electricity, oil/gas, cement, aluminium, chemical, mining, technology, standards, verification, broking, trading, legal, finance, accounting and consulting industries.

    About CMIA

    CMIA leads a global coalition of private sector actors since 2008. Our diverse membership is comprised of companies and organisations involved in shifting the trillions that will enable a transition to a low-carbon global economy through climate policy, finance and investment. 

  • 09 Nov 2017 9:33 AM | Anonymous member (Administrator)

    BRUSSELS, 9 November – IETA welcomes a preliminary deal reached this morning on reform to the EU’s carbon market and which sets the framework out to 2030. We urge the Member States representatives in Coreper, and later on the Council and the European Parliament, to swiftly confirm the long-awaited agreement.

    The agreement between representatives from the European Parliament, the Council and the European Commission came after several months of negotiation. IETA in particular is pleased with decisions to strengthen the performance of the EU ETS by doubling the rate at which surplus emissions allowances will be removed from the market and placed in the Market Stability Reserve for the first five years in operation. IETA also welcomes measures to protect the competitiveness of industries at risk of carbon leakage (3% conditional shift from the auction share to the free allocation share). 

    “Today’s agreement is a welcome boost to market fundamentals and adds momentum to the UN climate negotiations which are underway in Bonn,” says IETA’s CEO and President Dirk Forrister. “It sends a strong signal that the EU is serious about its leadership role in the international climate policy arena and in helping make the Paris Agreement a success.”

    “While business welcomes the clarity from today’s trilogue deal, there is still a lot to be done before the next phase of the EU ETS starts in 2021,” says Julia Michalak, IETA’s Director of EU Policy. “After the agreement is confirmed, the lengthy process of implementation work will start. The devil is often in details.”

    To keep up to date with IETA’s work, follow us on social media. IETA has accounts on Twitter,  Instagram and LinkedIn

  • 02 Nov 2017 5:29 PM | Anonymous member (Administrator)

    Contact Katie Kouchakji,

    LONDON, 2 November – Government representatives gathering in Bonn on Monday for the start of annual UN climate talks need to ramp up efforts if the two-week meeting is to end with a draft negotiating text, says IETA.

    By the end of next year, governments need to adopt the rulebook for implementing the Paris Agreement – including for Article 6, which establishes an emissions mitigation mechanism and provisions for accounting of international emissions trading outcomes. In the run up to the 2018 meeting, they will also be preparing for the first “Facilitative Dialogue” of progress on cutting emissions and future trajectories, making it even more crucial to know the outline of additional, international tools available to help Parties raise ambition.

    “If governments are going to meet the 2018 deadline to adopt the Paris rulebook, the next two weeks must see serious options brought to the table so that they can leave Germany with a draft negotiating text,” says Dirk Forrister, President and CEO of IETA. “This is important so that all actors – both governments and observers – can see where to focus direct action and investment in a smart, efficient and effective way to deliver the emissions cuts that the future needs.”

    The need to develop draft negotiating text by the end of the upcoming meeting is the key ask of IETA’s priorities for COP23. Although observer groups were not invited to submit views to the UNFCCC on elements of the rules ahead of the Bonn talks, IETA is today releasing its updated Straw Proposal for Article 6. Developed by its International Working Group members, the proposal lays out IETA’s vision for bringing Article 6 to life, drawing from their vast experience with the Kyoto Protocol’s mechanisms as the world transitions to one where all nations are taking action.

    “We firmly believe that Article 6 is key to scaling up ambition by all nations, that market forces can go further, faster and are cheaper than regulations and unilateral actions,” says Stefano De Clara, IETA’s Director of International Policy. “Our Straw Proposal is the product of many years of experience with carbon markets around the world, and offers a path to allow collaborative efforts and serious investments to begin.”

  • 01 Nov 2017 5:07 PM | Anonymous

    LONDON, 1 November – IETA is proud to release the 2017 COP23 edition of IETA Insights, profiling global climate action and the latest thought-leadership on Article 6. 

    Ambassador Nazhat Shameem Khan, Chief Negotiator for the incoming COP23 Fijian Presidency, introduces the issue by setting out the country’s vision for the talks, which start next week, and the role business can play. 

    This third issue of IETA’s quarterly publication also features six climate change initiatives around the world, IETA’s latest thinking on bringing Article 6 to life, how blockchain can help the implementation of the Paris Agreement, and the investment opportunities arising from Colombia’s new carbon price. 

    “As governments gather to negotiate the Paris rulebook, it’s important to recognise the diversity of initiatives underway around the world, tailored to varying national circumstances,” says Dirk Forrister, President and CEO of IETA. “One of the challenges of the Paris Agreement is to bring all these efforts together and account for them in the same way, which is one area where technological innovation such as blockchain can make a real difference – and is why we have chosen to feature the topic now.”

    The next edition will be released in December. For more information or content suggestions, please contact Katie Kouchakji on For sponsorship opportunities, please contact Lisa Spafford at


    An editorial committee, drawn from IETA’s membership, advises on the content and performs peer review. The 2017 editorial committee are: Kavita Ahluwalia, Uniper; Evan Ard, Evolution Markets; Jessica Butts, Delphi; Jean-Yves Caneill, formerly of EDF; Sophie Lu, BNEF; Mark Proegler, IETA Fellow; Judith Schröter, ICIS; Naomi Swickard, VCS; and Li Yifeng, Shanghai Zhixin.

  • 31 Oct 2017 9:04 PM | Anonymous member (Administrator)

    Contact: Katie Sullivan,

    OTTAWA, 31 October – Commenting on today’s announcement of Canadian government support for a blockchain project in the Pacific Alliance nations (Chile, Colombia, Mexico and Peru), facilitated by IETA and ClimateCHECK, IETA’s CEO and President Dirk Forrister says:

    “As the official implementing entity, IETA looks forward to working with our Partners and leveraging our deep global and regional networks and resources to ensure project success.

    “IETA is delighted to assist Canada on this cooperative project with Chile, Colombia, Mexico and Peru aimed at supporting technical capacity for robust monitoring, reporting and verification (MRV) of emissions. Programmes to establish carbon pricing across the region rely on solid MRV of emissions. Technology innovations, like blockchain, in the MRV field may offer important tools – that are scalable and transparent – to inform future programme design, including common accounting and transfers across systems and borders.”

    For more information on the project and IETA’s role, please contact Katie Sullivan, IETA Managing Director, at

  • 31 Oct 2017 4:09 PM | Anonymous member (Administrator)

    Contact: Katie Kouchakji,  

    LONDON, 31 October – IETA is urging the International Civil Aviation Organization (ICAO) Council to adopt proposed eligibility criteria for its sectoral emissions offset programme.

    The ICAO Council, comprised of governmental representatives, is meeting from 30 October-17 November in Montreal. The Council will be considering the work done so far by its Global MBM Technical Task Force to prepare for the Carbon Offsetting Scheme for International Aviation (CORSIA), which will begin in 2020. This includes proposals on eligibility criteria for offsets, which would see airlines cleared to use credits from existing programmes such as the Clean Development Mechanism (CDM), Verified Carbon Standard (VCS), Climate Action Reserve (CAR), and American Carbon Registry (ACR).

    “Airlines are seeking signals from the Council so that they can start preparing for CORSIA now, and not in three years when costs may be higher,” says IETA’s CEO and President Dirk Forrister. “We urge the Council to approve the work by the Task Force so that businesses can get to work.”

    “The CDM, VCS, CAR and ACR are tried and tested programmes, with a wealth of experience and environmental integrity, leaving them well placed to serve the aviation sector,” says Sophy Greenhalgh, Managing Director, Aviation at IETA. “Beyond the high-level criteria, further specific detail about activities and credits accepted for CORSIA is essential to supporting environmental integrity of the system and allowing investment in good time.”

    For more on IETA’s Aviation work, please contact Sophy Greenhalgh on To keep up to date with IETA’s work, follow us on Instagram, LinkedIn and Twitter

  • 26 Oct 2017 12:22 PM | Anonymous member (Administrator)

    Contact: Katie Sullivan,

    Toronto, 26 October - IETA welcomes today’s release of Ontario's 2017 Long-Term Energy Plan, outlining the 20-year roadmap for Ontario’s energy sector. We congratulate Ontario on its remarkable progress, to date, towards decarbonizing its economy. This progress and long-term plan, built on a set of policy initiatives buttressed by a carbon market, offers a cost-effective model for other jurisdictions to consider. Greenhouse gas reductions must now be extended across non-power sectors in the province. More than ever, it is vital to tap market forces in cooperation with regional partners - like California and Quebec - to ensure costs remain low and fair across Ontario consumers and business.

  • 19 Oct 2017 10:55 AM | Anonymous member (Administrator)

    Mexico climate forum to feed international climate process

    Eleventh Latin American and Caribbean Carbon Forum opens in Mexico City 

    Mexico City, Mexico, 18 October 2017 – Achieving the goals of the Paris Climate Change Agreement and true sustainable development will take broad-based engagement, especially by the private sector to drive innovation and investment, participants at the opening of Latin American and Caribbean Carbon Forum (LACCF) in Mexico City were told.

    Mexico suffered a serious earthquake last month that resulted in terrible loss of life and destruction. Mexico and Mexico City nonetheless pushed through with LACCF 2017, which has brought together private and public sector participants looking for ways to spur climate action under the theme Advancing the Paris Agreement – From Targets to Actions.

    “I think what has happened, and what is happening, underscores how vulnerable we are as human beings,” said Enrique Lendo, Head of International Affairs, Secretariat of Environment and Natural Resources, Mexico, reflecting on the earthquake and the numerous destructive hurricanes that have occurred in recent months. “They are a sign we need to renew our efforts, and strengthen our efforts,” said Mr. Lendo, citing innovative policy choices, such as carbon pricing and market-based instruments to drive investment in climate action, before officially opening LACCF 2017.

    Countries in 2015 adopted the Paris Climate Change Agreement aimed at keeping global temperature rise below 2oC through concerted climate action in all sectors. Meeting the goal will take a great deal of investment and resources; thus, strong engagement by the private sector and a broad range of non-state actors, including the most vulnerable.

    “Adopting urgent measures to combat climate change requires [one] to listen closely and attentively to all voices; to the private sector, industry, academia, civil society, indigenous peoples, since it is all of us who live the consequences of climate change,” said Antonio Molpeceres, UN Resident Coordinator in Mexico referencing remarks by UN Secretary-General António Guterres. “It is necessary that we all take part in these discussions, so that we are all actors in the creation and materialization of a true paradigm change that will lead us to a sustainable human development path.”

    This is the eleventh annual LACCF and the second time the event is being held back-to-back with the workshop of the Low Emission Development Strategies (LEDS) – LAC platform, creating the largest climate event in the region: The 2017 Latin America and Caribbean Climate Week.

    Events like LACCF are important venues not just for inspiring greater climate action but in which to express views that can make their way into international negotiations. Last year when they met in Morocco, countries established the Marrakech Partnership for Global Climate Action to encourage and coordinate this broad engagement.

    The objective is to “turn countries’ Nationally Determined Contributions under the Paris Agreement into concrete investment plans,” said Veronica Zavala, Country Representative, Inter-American Development Bank. She cited the need to “decarbonize our energy sector, which accounts for 40 percent of emissions in the region,” and pointed to the ample solar, wind and ocean power available in Latin American and the Caribbean.

    “Isolated endeavors cannot contribute radically to stabilize economies and mitigate the effects of climate change,” said Emilio Uquillas, Representative-director in Mexico for CAF–Latin American Development Bank. Mr. Uquillas stressed that the effects of climate change will be felt “as usual by the most vulnerable sectors of society” and called for “a scaling up of efforts.”

    The bulk of that scaling up will be done through investment by the business community, which is “managing enormous risk” from climate change and from its investments in climate action, said Dirk Forrister, Chief Executive Officer and President of the International Emissions Trading Association. “The business community is also looking around the corner to opportunity.”

    The inclusive approach called for in the Paris Agreement will be carried forward when countries meet in Bonn, Germany, next month for the UN Climate Change Conference, COP23, under the United Nations Framework Convention on Climate Change, whose Executive Secretary, Patricia Espinosa, is Mexico’s former Minister of Foreign Affairs, 2006–2012. Ms. Espinosa is attending an important preparatory meeting in Fiji, which will preside over COP23.

    “For countries to achieve their commitments under the Paris Agreement, the private sector and public sector must work together to mobilize investment where it’s needed,” said Ms. Espinosa on behalf of the 10 co-organizers of LACCF 2017 in advance of the event. “Therefore, regional events like LACCF are taking on an increasingly important role linking investment to investment-worthy opportunities for climate action.”

    Market approaches and carbon pricing are important means of incentivizing climate action; such as was created by the Clean Development Mechanism (CDM) under the UNFCCC’s Kyoto Protocol. Participants in LACCF are keen to understand how carbon pricing mechanisms will evolve and inform implementation of such approaches under the Paris Agreement. Mexico, for example, has placed a carbon tax on eight fuels. The country is considering how those obligated under the carbon tax could pay using saleable Certified Emissions Reductions created by CDM projects, everything from wind power projects to projects that reduce or avoid industrial emissions.

    More generally, countries in the Latin America and Caribbean region, including Chile and Colombia, have been leaders in the development of carbon pricing mechanisms and are actively working to build multi-country engagement models. Key takeaways from the High-Level Commission on Carbon Prices <> were also discussed.  The report’s conclusion — that countries should pursue carbon pricing now, as an essential element of a multi-faceted strategy — resonated strongly with government representatives participating in the panel discussions.  Industry participants in the Forum noted that a strong and predictable carbon price trajectory, as called for in the Commission’s report, would help provide the stability the private sector needs to move investment into long-term, climate-friendly projects, dramatically increasing the total amount of resources available to address climate change.

    LACCF 2017 comprises high-level plenaries—including an address by former Mexican President Felipe Calderón scheduled for Friday, 20 October—workshops and roundtables to share the latest on climate finance, carbon pricing, sectoral climate action and data and information for transparency. It brings together key players from the private and public sectors—cooperating agencies, potential investors, project developers, service providers—to share the latest on climate action.

    LACCF is co-organized by:

    Secretariat of Environment and Natural Resources, Mexico

    United Nations Framework Convention on Climate Change

    UNEP DTU Partnership

    United Nations Development Programme

    World Bank Group

    Development Bank of Latin America

    Inter-American Development Bank

    Latin American Energy Organization

    United Nations Environment Programme

    International Emissions Trading Association


    For further information, please contact:

    Fabiana Rodrigues, UN Climate Change at:

    frodrigues(at), +49 (0) 228-815-1288

    See also:

    Twitter: @UN_ClimateTalks, @UN_CarbonMechs  #LACCF2017


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