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33 Asset Management - Ensuring Predictability

33 Asset Management - Ensuring Predictability. 12 March 2011, Bonn. Ensuring Predictability. What’s working CDM/JI knowledge built Capacity building Infrastructure What is not working Uncertainty Subjective element. Ensuring Predictability.

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33 Asset Management - Ensuring Predictability

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  1. 33 Asset Management - Ensuring Predictability 12 March 2011, Bonn

  2. Ensuring Predictability • What’s working • CDM/JI knowledge built • Capacity building • Infrastructure • What is not working • Uncertainty • Subjective element

  3. Ensuring Predictability • Two approaches for project developers and investors to judge UNFCCC • Thumbs up: Well done for setting it up and building the capabilities (meths, DOEs, DNAs) • Critical: reviews of projects and issuances, waiting times, uncertainty, suspensions • What we need is: a little more “TLC” –transparency/Longevity/Certainty & Consistency – (Deutsche Bank Climate Change Advisors)

  4. Ensuring Predictability • Climate change will not disappear from the world’s agenda • Concern/risk for UNFCCC • IF the systems can not adjust with the increasing level of knowledge within the UNFCCC • IF such overhaul is not fully supported • THEN the market will move on • Bilateral agreements • New carbon market mechanisms • New auditing procedures The market needs clarity to drive significant investment and subsequently large amount of emissions reductions. But the market will not wait indefinitely for changes to existing mechanism –it will find alternative routes

  5. Ensuring Predictability • Suggestions • Use the existing knowledge built in the UNFCCC (EB, Meth panel, DOEs, DNAs etc) • Pre-select and approve project types per region (whitelists) • Set clear PDD instructions per project type • No further additionally tests (as project type is already pre-approved) • Pure procedural check if project followed instructions before registration • Yearly verification to ensure environmental integrity • Include project types like forestry and REDD to ensure volumes can be achieved without N2O and HFC projects Simple, clear for everybody, no subjective approvals

  6. Ensuring Predictability • “Simplicity is the Ultimate Sophistication” by Leonardo Da Vinci • Does not mean the problem is simple • The UNFCCC has the unique capabilities and knowledge to really change the mechanisms to make it simpler • If it doesn’t do so, the market will increasingly look for and create alternative mechanisms

  7. Contact Walle Oppedijk van Veen 33 Asset Management Commercial Manager Tel: +31-(0)70-34 61 734 GSM: +31-(0)6-22317941 Email: w.oppedijkvanveen@33assetmngt.com 7

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