8 November 2017, London – At a Global Maritime Forum roundtable in London yesterday, the Carbon Pricing Leadership Coalition and global NGO Carbon War Room, worked with shipping leads from major global financial institutions to explore the challenges of decarbonisation for ship financing.
Putting a value on emissions can lower energy use, write Kenneth Gillingham, Stefano Carattini and Daniel Esty. In July, Yale became the first university to launch a carbon-price programme across its campus. More than 250 buildings, together accounting for nearly 70% of the institution's emissions, will be charged US$40 per tonne of carbon dioxide that they emit as a result of energy use. Buildings that reduce their emissions more than the average will receive a share of the funds collected.
Washington, DC, November 1, 2017 — More and more countries and sub-national jurisdictions are putting a price on carbon but the level of action must ramp up significantly to help the world meet its Paris Agreement targets, says a new World Bank report.
Launched just ahead of the UNFCCC’s Climate COP23 in Bonn, the annual review: State and Trends of Carbon Pricing 2017, presents good and not-so-good news.
A consultative dialogue was organized by the Carbon Pricing Leadership Coalition (CPLC) in collaboration with the African Development Bank, the UNFCCC and the German Ministry of Environment on Oct 5-6, 2017, to discuss the role and potential for carbon pricing instruments in African economies. It gathered about 25 public and private sector experts from various African countries, including Benin, Cameroon, Democratic Republic of Congo, Cote d’Ivoire, Ethiopia, Kenya, Senegal, South Africa, Zambia, and Zimbabwe.
Putting a price on carbon is becoming the new normal for major multinationals with almost 1,400 companies1 factoring an internal carbon price into business plans. This represents an eight-fold leap in take up in the last four years, compared to just 150 companies in 2014, and includes more than 100 Fortune Global 500 companies with collective annual revenues of US$7 trillion
The Greenhouse Gas Management Institute has partnered with The George Washington University to create a Graduate Certificate in Greenhouse Gas Management. This graduate program prepares students to contribute professionally to a low-carbon future.
Global Maritime Forum, Carbon War Room, the Carbon Pricing Leadership Coalition (CPLC), and University College London (UCL) today announced the launch of a Task Force on Decarbonizing Shipping. This industry-led initiative will develop tangible pathways for shipping’s decarbonization through five working groups, each focussed on a key area of the industry. Outcomes of the task force will be presented at the Global Maritime Forum’s inaugural summit in October 2018.
New platform to shape the future of global seaborne trade
The Global Maritime Forum is a global platform for high-level leaders from the entire maritime spectrum and aims to effect positive long term change for the industry and for society. A global group of 14 industry leaders are founding partners to the Forum.
Calling for Business Perspectives – Survey on Carbon Pricing Revenues
The Generation Foundation has teamed up with Ecofys in a research partnership, the Carbon Pricing Unlocked partnership (CPU), to tackle carbon pricing from new and diverse angles.
With this survey, the CPU team would like to get companies’ views on different approaches to use revenues generated by carbon pricing mechanisms, i.e. carbon taxes and Emissions Trading Systems (ETS). As with any policy based instrument, acceptance and support by entities covered by the policy is critical for the success and sustainability of the policy. The appropriate use of revenues from carbon taxes and Emission Trading Systems (ETS) that would be supported by covered entities and result in increased emission reductions could help to greatly increase global ambition on climate action.
Therefore, the CPU team is seeking to identify the relationship between how revenues from carbon pricing mechanisms are used and the acceptability of different revenue recycling approaches to covered entities in one of the work streams of the partnership. They would like to test their conclusions and considerations on the impacts of various revenues recycling approaches established through the literature and case studies through a wide reaching online survey. The results of this survey will help them understand how businesses see climate policy and carbon revenue use impacts. They are also interested in identifying preferences for carbon revenue use in different economic contexts. Their findings will be published in a report at the UN Climate Change Conference in Bonn in November 2017.
You will need approximately 10-15 min to complete the survey.
The survey is available here until 15 September 2017: https://s.chkmkt.com/?e=90852&h=2322A39A463A01D&l=en
Find out more about the Carbon Pricing Unlocked Partnership, the Generation Foundation and Ecofys.
UNFCCC & CTX ‘Climate Finance’ Link Goes Live!
Making Use of UN-Certified Offsets
(CTX) has begun listing UNFCCC Clean Development Mechanism (CDM) certified emission reduction (CER) credits on its global voluntary exchange. Engaged with a global audience for almost a decade in the fight against climate change, CTX encourages and facilitates the purchase and retirement by businesses and brokers of carbon credits from many hundreds of projects worldwide.
Climate finance is a multi-billion-dollar solution to funding projects that reduce or sequester CO2 and other greenhouse gas emissions. For example, the World Bank provides over USD 10 billion each year to projects that increase resilience to climate change and is a major supporter of the UN CDM process.
Now any company, from small business to large corporation, can add UN CERs to build an offset portfolio online; perform full due diligence online; demonstrate competitive, transparent pricing; and purchase securely in real time with zero delivery risk.
Wayne Sharpe, CEO and Founder of CTX said: “Since its launch CTX has facilitated millions of tonnes of offset purchases certified by the major international carbon standards. Many businesses wish to offset using UN certified credits but have lacked the confidence to do so via the opaque and sometimes ‘dark over the counter’ market.”
“Surely a company wanting to offset can’t be happy paying up to 10 times more because the OTC broker has a ‘good story’? We’re delighted that CTX will address this and help to grow the market for transparent, cost effective climate finance and carbon neutrality, either directly or via credible contracted CTX brokers.”
UNFCCC senior executive Niclas Svenningsen said: “The CTX agreement will provide a new, global and much needed distribution outlet for project originators and developers under the United Nations Clean Development Mechanism – CDM – to sell and monetize their CERs.”
In support of this new strategic partnership, until 31 October 2017 the CTX platform is free to join and corporate clients need no registry account to trade UN CERs, 24/7 via any Internet connection, with fully secure, fast, efficient, low-cost clearance and settlement.
Most exciting is that for project originators (sellers) fees are only 2 per cent, meaning buyers know that the projects they buy from receive 98 per cent of the proceeds of sale.
Under the Clean Development Mechanism, projects in developing countries earn a saleable credit for each tonne of greenhouse gas they reduce or avoid. The incentive has led to the registration of more than 8,000 projects and programmes in 111 countries and the issuance of more than 1.8 billion CERs.
After weeks of back-and-forth between environmentalists and business interests, Gov. Jerry Brown and legislative leaders introduced a proposal Monday evening to reauthorize California's cap-and-trade program, the centerpiece of the state's efforts to battle climate change.
DECLARACIÓN DE CALI
Los Presidentes de la República de Chile, Michelle Bachelet Jeria; de la República de Colombia, Juan Manuel Santos Calderón; de los Estados Unidos Mexicanos, Enrique Peña Nieto; y de la República del Perú, Pedro Pablo Kuczynski Godard, reunidos en Santiago de Cali, Colombia, el 30 de junio de 2017, en la XII Cumbre de la Alianza del Pacífico,
Key stakeholders from the public sector, private sector and civil society from Africa and beyond are set to meet next week in Cotonou, Benin, to take forward collaborative climate action for sustainable development in the region.