Aligning Voluntary Carbon Markets & Article 6
Date: Oct 24, 2022
Time: 22:30 to 23:30 (KST/GMT+9)
Historically two carbon markets have existed in parallel, a compliance market – often linked to developed countries cap and trade schemes, and a voluntary market – where corporates choose to pay for credits to offset their emissions. Under Paris, with the added flexibility offered under Article6 – these markets will become closer than ever before. Corporates are trying to understand how to navigate this new era and host countries are concerned about the impact on their NDCs of selling emission reduction credits in either market. This session will hear insights from actors on both sides of the market as well as experts working in the space.
The panel will answer the following questions in order to bring out the key areas for discussion:
- There is still an outstanding debate as to whether corresponding adjustments should be applied to trades under the voluntary market. What are the current questions being asked in your country/organisation around this and/or your key concerns in this field?
- National regulators within buying countries will need to give clarity on legal ownership or entitlement of reduction rights for corporates. What implications might this have for potential sellers and how can these sellers or the intermediaries support?
- With regard to standards and terms of trade, many comment that buyers are too harsh making unrealistic expectations of sellers whereas others feel that sellers standards are too weak for international scrutiny. Can you give some examples from your work and how do you think parties can work together to find a good middle ground?
- Buyers want certainty – a predictable process to follow when purchasing. Sellers are subject to political change, natural disasters etc. What developments in the marketplace are helping to bridge this gap in the absence of UNFCCC oversight?
– Ms. Fenella Aouane, GGGI
Moderator: Representative from GGGI
– Mr. Jonathan Shopley, Climate Impact Partners
– Mr. Steven Gray, DLA Piper
– Mr. Mbaye El Hadji Diagne, Advisor to Government of Senegal and Member of Art 6 Supervisory Board
– Mr. Pascal Siegwart, VP Carbon Markets and Economy, Total Energies
|Q&A and Closing|