Webinars

Background Slide Energy Prices Webinar
Surging commodity and especially energy prices have heightened concerns about the economic impacts of increasing carbon prices in emissions trading systems. How might the current price dynamics affect climate policy and carbon markets in the medium and longer term? What can be done to manage impacts on consumers and covered sectors? In this webinar session, market analysts and policy experts will weigh in on one of the most pressing questions currently faced in emissions trading systems around the world.
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Background Slide Article 6 Webinar

At COP26 in Glasgow, parties to the Paris Agreement adopted operational rules and guidance on Article 6, paving the way for full implementation of international carbon markets under the Paris climate regime. For existing and emerging domestic ETS, Article 6 can play various roles - offering an accounting framework for cross-border linkages between ETS, providing a mechanism to credit emission reductions outside the ETS, and opening a pathway to international carbon finance in support of ETS establishment and implementation.

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Master_Slide_Speakers_W12
Emissions trading systems (ETS) emerge within a legal and regulatory context, with which they need to align in order to ensure legal certainty and avert legal conflicts or challenges. The legal basis of an ETS needs to be compatible with previously existing rules, principles and procedures in other areas of law. Market activities can be subject to financial market regulation, financial accounting and taxation rules. Understanding the legal conditions and implications of emissions trading is critical for the durability and smooth functioning of an ETS. This webinar session will introduce the central legal considerations and describe ways in which jurisdictions have addressed these in existing ETS.
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ETS Distributional Effects Title Image
Carbon pricing, whether through emissions trading or carbon taxes, changes the relative prices of goods which results in some actors paying more for energy services than others. This can create problems, particularly in countries that already suffer from inequitable distribution of incomes, from poverty and a lack of access to energy. Understanding these problems is crucial for designing market-based policies that are socially acceptable. This webinar will explore the distributional effects of emissions trading schemes (ETS) on different societal groups, and how they can be mitigated through the use of auction revenues and ETS design.
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In July, the European Commission presented the 'Fit for 55' package of legislative proposals to revise the entire climate and energy policy framework of the EU, including the legislation on the EU ETS, which it aims to strengthen and extend to new sectors. What does this expansion mean for the decarbonization of the European economy, and what lessons have been learned under the EU ETS in 15 years of continuous evolution and improvement? How can these lessons inform developments in other jurisdictions implementing or exploring an ETS as a pillar of their decarbonization strategies?
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Europe at night from above with images of speakers

Fotolia © Guillaume Le Bloas_L

Emissions trading systems result in the creation of a market, with different traded units and a diverse array of market participants. Dynamics in this market can have unintended consequences, and some participants may even act in bad faith. To ensure its smooth functioning, the carbon market therefore calls for oversight, including rules about market access (who can participate in trading, and under what conditions), eligible units (including, where allowed, derivative financial products), transparency and information disclosure, and other aspects of trading activity.
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In 2016, the International Civil Aviation Organization adopted the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) to limit the climate impact of international air travel and ensure carbon neutral growth from 2020. The EU has integrated aviation into its own ETS. But are these efforts enough to tackle the growth in emissions from aviation? How can market-based instruments contribute further?

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Coal excavator

© Roland Abel | Fotolia.com

One of the biggest changes in energy systems around the world concerns the use of coal. The share of coal has dropped in numerous countries, and many have now adopted official goals to phase out the use of coal. This webinar explored how carbon pricing can contribute to phasing out coal in some countries; how carbon pricing could affect plans for extending coal use in others; what declining coal use implies for the functioning of carbon market; and which flanking measures are needed to ensure a just transition away from coal.
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Outside the world of economics, ETS – and carbon pricing generally – is frequently misunderstood and misrepresented. This can undermine political support for carbon pricing, as well as public acceptance. What are common mistakes to avoid, and what are effective ways to improve public communication on carbon pricing? This ICAP webinar dealt with these and many more questions around the topic of communicating carbon pricing.
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As public budgets strain in the wake of the global coronavirus pandemic, and with ju-risdictions facing daunting investment needs to achieve ambitious climate commit-ments, emissions trading can serve as an important source of revenue. This ICAP webinar provided insights of revenue use from emission trading systems.
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