LACCFBogotaSeptember 2014
1/8 of global GHG emissions under the KP CP2
So far, countries with a CP2 target that ratified the KP CP2 are Monaco and Norway (0.1% of global GHG emissions)
European Union
AustraliaUkraine
Kazakhstan
Belarus
Norway
Switzerland
Iceland
Liechtenstein
MonacoSize represent relative annual GHG emissions
Ukraine, Kazakhstan, and Belarus have not yet confirmed
International credit supply outstrips demand, but CDM success should not be overlooked
Full potential for issuance for 2014–2020
Residual demand for 2014–2020
OVERALL CDM SUCCESS
MtCO2e
Ten new carbon markets opened their doors since 2013
California CaT
Québec CaTKazakhstan ETS
Shenzhen pilot ETS
China houses the world’s second largest carbon market, covering over 1.2 GtCO2
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TS
Start date of compliance
Shanghai pilot ETS
Beijing pilot ETS
Guangdong pilot ETS
Tianjin pilot ETS
Hubei pilot ETS
Jan2013
Jun2013
Nov2013
Dec2013
Apr2014
2014 2015
Chongqing pilot ETS
Korea ETS
Carbon taxes around the world are evolving to allow more flexibility to reduce emissions
Price signals in carbon pricing initiatives are diverse
• Carbon prices among schemes occupy a significant range
• Prices are:
• Aligned with national priorities and political realities
• Consistent with the international dialogue
• Reflecting features in each instrument
About 40 national and over 20 sub-nationaljurisdictions are putting a price on carbon
Carbon pricing instruments cover about 5.5 GtCO2e
Full deployment of available instruments forinternational cooperation is needed
LACCFBogotaSeptember 2014
www.carbonfinance.orgwww.ecofys.com
Thank you!!
Uncovering the cover:Increasing share of global emissions under ETS
The number of tiles indicate the GHG coverage in each scheme (each tile = 1.65%)
Swiss ETSSaitama ETSTokyo CaTRGGIHubei pETSShenzhen pETSChongqing pETSGuangdong pETSEU ETSAlberta SGERNZ ETSAustralia CPMTianjin pETSKAZ ETSQuébec CaTCalifornia CaTBeijing pETSKorea pETSShanghai pETS
Jurisdiction and status of each carbon pricing instruments
Instrument Status Regional National Sub-national
ETS Implemented EU ETS Kazakhstan, New Zealand, Switzerland
Alberta, California, seven Chinese pilots, three Japanese schemes, Québec, RGGI
Implementation scheduled
Republic of Korea
Under consideration
Brazil, Chile, China, Japan, Mexico, Thailand, Turkey, Ukraine
Rio de Janeiro, São Paulo, Washington
Tax Implemented Denmark, Finland, France, Iceland, Ireland, Japan, Mexico, Norway, Sweden, Switzerland
British Columbia
Implementation scheduled
South Africa
Under consideration
Chile, Republic of Korea
Yet to be chosen
Colombia, Costa Rica, India, Indonesia, Iran, Jordan, Morocco, Peru, Russia, Tunisia, Vietnam
Manitoba, Ontario, Oregon