Iran to use domestic, international carbon market to meet CO2 target

Published 06:53 on November 22, 2015  /  Last updated at 06:53 on November 22, 2015  /  Climate Talks, EMEA, International, Middle East  /  No Comments

Iran will use national and international emission markets to meet a target of keeping GHG emissions 4% below BAU levels in 2030, a goal that could be increased to 12% if specific conditions are met, it said in its INDC submitted to the UN on Saturday.

Iran will use national and international emission markets to meet a target of keeping GHG emissions 4% below BAU levels in 2030, a goal that could be increased to 12% if specific conditions are met, it said in its INDC submitted to the UN on Saturday.

The petroleum-rich nation is among the world’s biggest emitters at 650 million tonnes of CO2e annually, and it expects those emissions to at least double over the next 15 years.

A 4% cut from the BAU scenario would mean avoiding 52-70 million tonnes of CO2e in 2030.

“This … will be achieved through development of combined cycle power plants, renewable energies and nuclear power, as well as reduction of gas flare emissions, increasing energy efficiency in various consuming sectors, substituting high-carbon fuels with natural gas, strategic planning for utilizing low-carbon fuels, intensifying economic diversification and participation in market-based mechanisms at the national and international levels,” the INDC said.

An official at Iran’s Fuel Conservation Organization (IFCO) said in Feb. 2014 that Iran would establish a domestic emissions trading market, but no further details have been released.

Saturday’s plan did not specify whether Iran is planning a national ETS, an offset programme, a carbon tax or some other form of domestic market mechanism.

The Iranian INDC said that if the economic sanctions imposed by western nations are lifted and it gets access to financial support and technology transfer, it would triple the 2030 target to 12% below BAU.

“’Market-based mechanisms’ and transfer of environment friendly technologies under the legal regime of UNFCCC as well as transfer of management practices, play a key role in successful and result oriented conditional mitigation actions,” it said.

By Stian Reklev – stian@carbon-pulse.com

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