Emissions trading worldwide: An overview of recent developments · An overview of recent...
Transcript of Emissions trading worldwide: An overview of recent developments · An overview of recent...
![Page 1: Emissions trading worldwide: An overview of recent developments · An overview of recent developments Constanze Haug, ICAP Secretariat NEa ETS-dag 13 October 2015, Den Haag . Expansion](https://reader036.fdocuments.in/reader036/viewer/2022081406/5f141bacd671362aaf7d5190/html5/thumbnails/1.jpg)
Emissions trading worldwide: An overview of recent developments
Constanze Haug, ICAP Secretariat
NEa ETS-dag
13 October 2015, Den Haag
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Expansion of emissions trading 2005-2015
www.icapcarbonaction.com 2
Quelle: ICAP ETS Status Report 2014
Source: ICAP Status Report 2015
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International Carbon Action Partnership 3
• Emissions trading around the world – an overview
• Update on recent developments
• Europe‘s periphery
• North America
• Latin America
• Asia Pacific
Overview
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ETS planned and in force worldwide
International Carbon Action Partnership 4
www.icapcarbonaction.com
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International Carbon Action Partnership 5
ETS worldwide
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International Carbon Action Partnership 6
• Emissions trading around the world – an overview
• Update on recent developments
• Europe‘s periphery
• North America
• Latin America
• Asia Pacific
Overview
![Page 7: Emissions trading worldwide: An overview of recent developments · An overview of recent developments Constanze Haug, ICAP Secretariat NEa ETS-dag 13 October 2015, Den Haag . Expansion](https://reader036.fdocuments.in/reader036/viewer/2022081406/5f141bacd671362aaf7d5190/html5/thumbnails/7.jpg)
International Carbon Action Partnership 7
Europe‘s periphery (2)
Kazakhstan
• Pilot phase 2013, start 2014
• Regulatory reform, new allocation plan 2016-2020 published
• Prices around 2.50 USD
Ukraine
• Development of domestic ETS stipulated in EU association agreement
• Draft concept paper released by Environment Ministry
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International Carbon Action Partnership 8
North America (1) - Regional Greenhouse Gas Initiative (RGGI)
• 9 states in US Northeast
• Started in 2009
• Electricity sector, almost all allowances auctioned
• Positive effect despite relatively low prices
• Reform: • Cap reduced by 45% in 2014
• Cost containment reserve
• Prices now ~$6.70 USD
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International Carbon Action Partnership 9
North America (2) - California and Québec (& Ontario & New York??)
- See Jean-Yves Benoit‘s presentation -
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International Carbon Action Partnership 10
North America (3) – New impetus through EPA Clean Power Plan (CPP)
• CPP regulates US power plant emissions by imposing state emission rate targets for 2030
• States can choose rate-based or mass-based approach
• Flexibility: from EPA-crafted model rules (‚plug-and-play linking‘) to locally-developed approaches
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Latin America and Caribbean (1)
Mexico: Carbon tax (USD 3.50) on fossil fuel, introduced January 2014
• Partial use of offset credits (no legislation yet)
• Could transition to an ETS
Chile: Roadmap for ETS introduction with PMR support
• Carbon tax (USD 5) for thermal power generators, passed September 2014
International Carbon Action Partnership 11
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International Carbon Action Partnership 12
Australia
• Abolition of the Carbon Pricing Mechanism
• Alternative: Emissions Reduction Fund -> financing of mitigation projects
New Zealand
• Second system review expected
• No international offsets from mid-2015
• Current prices ~ 6.80 NZD (4.50 USD)
Asia-Pacific (1)
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International Carbon Action Partnership 13
Tokyo
• First ETS on city level and in Asia
• Participants: Industry, large commercial buildings
Korea
• Launched January 2015, covering two third of national emissions
• Domestic offsets, from 2021 also international
Asia-Pacific (2)
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International Carbon Action Partnership 14
China
• Domestic ETS now scheduled for 2017, covering all provinces
• Currently work focus on legal framework/allocation/MRV
• 5/6+1 sectors, ~11.000 companies?
• Treatment of ETS pilots yet to be determined
Taiwan
• Climate framework law provides basis for ETS
Asia-Pacific (3)
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Summary
International Carbon Action Partnership 15
• Many countries and regions are implementing emissions trading
• New systems learn from existing ones, but also innovate
• The global carbon market is developing from the bottom up
• ETS not a growth impediment: 6 out of the 10 most competitive countries do carbon pricing (World Economic Forum, 2015)
• Linking ETS remains relevant, but challenging
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International Carbon Action Partnership 16
ICAP - ETS Information Platform
ICAP Interactive ETS world map
• Comprehensive, up to date information about existing and planned ETS
• Ability to compare and download detailed profiles
ICAP Status Report „Emissions Trading Worldwide“
• New report on existing and planned ETS, market trends, detailed factsheets, infographics, and articles
Quarterly Newsletter “Global Trends in Emissions Trading” and ETS news on our website
www.icapcarbonaction.com