convention dialogue, thursday 16 november the eu’s perspective on the market based opportunities...

Convention Dialogue, Thursday 16 November

The EU’s Perspective on the Market Based Opportunities

Peter Carl

European Union


This Presentation

Scale of the challenge

Experience so far

Potential of market based opportunities

Exploring ideas


The Global Challenge

Aspiration: Reduce global emissions by more than 50% of currents levels by around 2050

A realistic aspiration: technologies exist

Investment gap


Growing Experience

Range of market based approaches, eg:CDM, JITargets and policies for renewable

electricity: China, EUTransport: biofuels in Brazil, India,

China, US and EU; CNG in IndiaGreenhouse gas emissions trading: EU,

Norway, sub-national



Wide benefits from putting a value on emissions reductions: Sustainable economic growth Help shift to a low carbon economyCost-effective emissions reductionsStimulates innovationNew business opportunitiesMobilises private sector investmentNew employment



But also co-benefits. Some examples: Morocco rural electrification- health,

education and economic development China’s fuel efficiency standards for cars:

emission reductions, energy security and job creation in high-tech manufacturing

India’s promotion of the wind sector: booming local manufacturing and high quality jobs

Brazil’s Biofuels: External debt reduced by US $100 bn

South Africa carbon finance for better and low greenhouse gas housing for low income communities



We know what the scale of the challenge is

We already have experience with market based opportunities

Market-based opportunities increase our potential to meet the challenge

The key question is how


Making use of the creative space

Build on existing ideas and explore new approaches, for example:

Policy / sectoral CDMPilot trading schemes at state and

regional level and linkingNo-lose targetsSectoral approaches


To conclude

A stable long-term international framework taking into account different national circumstances and different policy mixes

An effective global carbon market and a clear global carbon price are important to meet our challenge.


http://http://europa.eu.int/europa.eu.int/comm/comm/environment/environment/climat/climat/home_en.htmhome_en.htm

convention dialogue, thursday 16 november the eu’s perspective on the market based opportunities...

Documents