Carbon pricing initiatives are marching rapidly across the globe but mostly at levels far too low to keep 195 countries to their climate change commitments under the Paris Agreement.
The landmark Paris pact was widely heralded for binding all nations to limit global temperature rise well below 2C and ringing in a new era of international emissions trading.
But nine months on, the collective pledges (NDCs) are still way off track on 2C and despite almost half of nations seeking to use market mechanisms there are only a handful of willing buyer countries.
Day 2 of the Carbon Forward 2016 conference in London on Oct. 14 features insights from analysts, officials and policy experts on the likely course of global carbon pricing in getting the world onto a 2C path.
“For a lot of countries the NDCs have no bite or impetus to drive decarbonisation, it’s just business as usual. However, for some such as the EU, US and South Korea, there’s a clear message that coal needs to be pushed out of the energy system and carbon pricing is one tool that can be applied to drive that,” said Bloomberg New Energy Finance analyst Richard Chatterton, who will speak at a session focused on international-level developments.
Chatterton will present BNEF’s latest research on the impact of NDCs, what carbon prices levels they imply and what implications that has for the portfolios of multinational energy companies.
Motoharu Yamazaki of the UN’s market mechanisms unit and Jonathan Grant of consultancy PwC will also examine whether there is a place for international carbon trading and assess the status of the market mechanism created in Paris.
And the World Bank will demonstrate how its newly-formed $500 million Transformative Carbon Asset Facility (TCAF) aims to scale up a new generation of carbon markets under the treaty.
KEY FACTS ABOUT CARBON FORWARD
- Objective: To impart on attendees a comprehensive knowledge of the likely path of development of global carbon prices, markets, politics and insight into how to manage the cost of compliance in an increasingly diverse regulatory environment.
- Who should attend: Environmental managers, financial controllers and procurement managers of airlines, multi-nationals and other companies with an increasingly global carbon exposure, emissions traders, legislators, academics, analysts and others that are looking for an insight into the future evolution of the global carbon markets.
- The Carbon Forward conference and pre-conference EU ETS training day will equip you with everything you need to know about managing risks and opportunities in the EU ETS & global carbon markets, whether you’re a company with ETS exposure, a legislator, a trader, an analyst, or anyone with an interest in emissions trading.
- Redshaw Advisors has partnered with Carbon Pulse to organise the pre-conference EU ETS training session on Oct. 12.
- MEP Ian Duncan, the lead lawmaker on post-2020 EU ETS reforms, will deliver a keynote address and hold a townhall-style forum on the opening day on Oct. 13
The event will take place at Greenwich’s Old Royal Naval College in south-east London.
For more information on Carbon Forward 2016 or to book your place, click here
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