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Post 2012 Carbon Market Development

Global Carbon Markets 9. August 2011 Jørgen Fenhann. Post 2012 Carbon Market Development. Everybody agree that we should stay below 2 degrees. Overview of the negotiations. NAMAs – according to the Bali Action Plan.

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Post 2012 Carbon Market Development

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  1. Global Carbon Markets 9. August 2011 Jørgen Fenhann Post 2012 Carbon Market Development

  2. Everybody agree that we should stay below 2 degrees

  3. Overview of the negotiations

  4. NAMAs – according to the Bali Action Plan “Nationally appropriate mitigation actions by developing country Parties in the context of sustainable development, supported and enabled by technology, financing and capacity-building, in a measurable, reportable and verifiable manner”

  5. What was included in the Copenhagen Accord • Mitigation • Pledges to fight climate change by preventing the temperature rise by more than 2°C • Annex I countries: quantified economy-wide targets for 2020 • Non-Annex I countries: Nationally appropriate mitigation actions subject to domestic measurement, reporting, and verification which will be reported every two years • Adaptation • Prepare comprehensive adaptation programme for vulnerable countries • Provide adequate, predictable and sustainable financial resources, technology and capacity-building to support the implementation of adaptation action

  6. What was included in the Copenhagen Accord • Financing • Provide developing countries with new and additional resources of USD 30 billion for 2010~2012 with balanced allocation between adaptation and mitigation • Mobilize USD 100 billion a year by 2020 from private, public and other alternative sources • Establish the Copenhagen Green Climate Fund as an operating entity of the financial mechanism • Establish a high-level panel to study potential sources of revenue • Technology transfer • Establish a Technology Mechanism to accelerate technology development and transfer • Recognition of REDD+

  7. NAMAs Lifecycle Support activities Process Actors Identifying support & Strengthening Capacity Building for: Technology Needs Assessment Mitigation assessment Low-Carbon Strategies Technology Action Plan Elaboration of NAMAs Actions and Programmes National Stakeholders National Approval National Coordinating Body Development of National/International methodologies NAMAs Means of implementation Green Climate Fund Definition of Performance Indicators Technology Transfer Finance Public/private Capacity Building Technology Executive Committee NAMAs Register International Approval Development of international rules Enabling NAMA procedures & readiness NAMAs Implementation Climate Technology Centre and Network 5. MRV National, International Development of MRV methodologies National & International entities Support ( Finance, Capacity-Building, Technology Transfer NAMAs actions implemented

  8. The 4 pillars of a climate agreement:1. The commitment system.2. Information on scientific knowledge about climate change. (IPCC)3. Standards and assessment and verification systems. (Inventories, Registries, UN-rules)4. Economic instruments (100€ fine in the EU-ETS, how to get 100 billion US$/yr, recycling of the carbon rent

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