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Liva.ANDERSONE@ec.europa.eu

Development of carbon market and provisions for c redits from Least Developed Countries in EU ETS and ESD. Liva.ANDERSONE@ec.europa.eu DG Climate Action Unit B.3 International Carbon Market, Aviation and Maritime European Commission. 1. “Offsetting” alone cannot solve climate change problem.

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Liva.ANDERSONE@ec.europa.eu

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  1. Development of carbon market and provisions for credits from Least Developed Countries in EU ETS and ESD Liva.ANDERSONE@ec.europa.eu DG Climate ActionUnit B.3 International Carbon Market, Aviation and Maritime European Commission 1

  2. “Offsetting” alone cannot solve climate change problem ... If Annex I alone reduces emissions to zero ... Global emission path compatible with 2°C scenario

  3. A vision: Concrete stepsforward • Build an international carbon market • To drive investments and achieve mitigation objectives at least cost • To generate important financial flows to developing countries. • Concrete steps: • Link compatible domestic cap-and-trade systems to develop an OECD-wide market • New sector-wide market mechanisms for (advanced) DCs as a step towards cap-and-trade systems • Reform and better focus the CDM • Outcome from Cancun: positive developments (i.e. standardised baselines, CCS in CDM), but a lot of work ahead on new market mechanisms

  4. Bilaterally linked cap and trade Relative share of global emissions Emissions not covered by cap and trade Sectoral crediting applied Reformed CDM TIME A vision: carbon market transition • Increasing focus on LDCs • Strengthen governance • Strengthen environmental integrity

  5. Provisions for credits from LDCs: EU ETS Directive EU ETS provides certainty on acceptance of credits from projects started in LDCs after 2012: • when these projects are clearly additional and contribute to sustainable development Article 11a 4 of Directive 2009/29/EC: Use of CERs and ERUs before entry into force of an international agreement on climate change To the extent that the levels of CER and ERU use, allowed to operators or aircraft operators by Member States for the period from 2008 to 2012, have not been used up or an entitlement to use credits is granted under paragraph 8, competent authorities shall allow operators to exchange CERs issued in respect of emission reductions from 2013 onwards for allowances from new projects started from 2013 onwards in LDCs LDC clearly defined:http://ec.europa.eu/clima/documentation/ets/docs/def_ldc.pdf

  6. Provisions on credits in the Effort Sharing Decision Member States should ensure that their policies for purchasing these credits enhance the equitable geographical distribution of projects, in particular by increasing the share of CERs purchased from LDCs and SIDS Article 5 of Effort Sharing Decision 406/2009/EC 5.1. Member States may use the following greenhouse gas emission reduction credits [..] (c) CERs issued in respect of emission reductions achieved from projects implemented in LDCs which were eligible for use in the Community scheme during the period from 2008 to 2012, until those countries have ratified a relevant agreement with the Community or until 2020, whichever is the earlier; 5.5. Member States* [..] allowed to use additional credits amounting to 1 % of their verified emissions in 2005 from projects in LDCs and SIDS each year, subject to compliance with one of the following four conditions [..] *Belgium, Denmark, Ireland, Spain, Italy, Cyprus, Luxembourg, Austria, Portugal, Slovenia, Finland, Sweden

  7. Other opportunities • EU ETS: • particular priority should be given to addressing the needs of LDCs when revenues generated fromauctioning are used to facilitate developing countries’ adaptation to the impacts of climate change • Global Climate Change Alliance: • Enhancing participation of LDCs and SIDS in the Clean Development Mechanism as one of the five priority areas • Proposed areas for intervention: • Increasing capacity-building for participation in the CDM, and providing technical support for cost-effective project development • Exploring options to showcase projects and project types that are better suited to the specific conditions in LDCs and SIDS, including through the development of methodologies for such projects

  8. GCCA priorities ► Adapting to climate change ► Promoting disaster risk reduction ► Reducing emissions from deforestation and forest degradation (REDD) ► Enhancing developing countries’ participation in the Clean Development Mechanism (CDM) ► Integrating climate change into poverty reduction and development efforts

  9. GCCA Progress to date Policy dialogue and Country Support • More than 30 countries/regions have received support since 2008 for a total amount of around €200M • Several Joint Declarations on CC have been signed GCCA SF • Established in November 2009 with the objective of promoting and facilitating efficient implementation of the GCCA actions in target countries and regions (2.9 M€). • Key tasks: • enhance policy dialogue between the EU and target countries/regions through organisation of high level seminars (e.g. Bangladesh and Addis in 2010) • assist in the identification and formulation of specific cooperation activities in beneficiary countries. • Provide training WS on integration of CC in countries‘ policies and strategies

  10. The GCCA 2010 Countries

  11. GCCA Pilot Countries 2011/2012

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