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Convention Dialogue, Thursday 16 November
The EU’s Perspective on the Market Based Opportunities
Peter Carl
European Union
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Convention Dialogue, Thursday 16 November
This Presentation
Scale of the challenge
Experience so far
Potential of market based opportunities
Exploring ideas
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Convention Dialogue, Thursday 16 November
The Global Challenge
Aspiration: Reduce global emissions by more than 50% of currents levels by around 2050
A realistic aspiration: technologies exist
Investment gap
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Convention Dialogue, Thursday 16 November
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
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Convention Dialogue, Thursday 16 November
Potential of market based opportunities
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
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Convention Dialogue, Thursday 16 November
Potential of market based opportunities
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
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Convention Dialogue, Thursday 16 November
Potential of market based opportunities
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
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Convention Dialogue, Thursday 16 November
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
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Convention Dialogue, Thursday 16 November
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.
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Convention Dialogue, Thursday 16 November
http://http://europa.eu.int/europa.eu.int/comm/comm/environment/environment/climat/climat/home_en.htmhome_en.htm