Technical Workshop 24: Role of Carbon Markets in Global Climate Action and Implications for Market Development Activities (Tokyo)

This workshop provided an opportunity for participants to discuss the latest developments in international and domestic carbon markets and to exchange views on the domestic preparations that are underway or planned to support countries’ participation.
Oct 24, 2017
Tokyo, Japan
Tuesday October 24, 2017
  Introductory session
International negotiations to define the rules that will underpin the operationalization of the Paris Agreement including a possible post-2020 international carbon market are now well underway. This workshop provided an opportunity for participants to discuss the latest developments and to exchange views on the domestic preparations that are underway or planned to support their participation in the carbon market. The World Bank’s proposals to support its client countries in this regard was also discussed.

The workshop concluded with the latest global developments in carbon pricing with a preview of the State and Trends of Carbon Pricing Report 2017.
   Opening and welcome remarks
The Hon. Mr. Yasuo Takahashi, Vice-Minister for Global Environmental Affairs, Ministry of Environment, Japan
Venkata Putti, Program Coordinator, PMR Secretariat
   Session 1 – Development of international carbon markets: implications for readiness activities
In this session, participants discussed developments in international carbon markets under the Paris Agreement and the implications for countries’ market readiness activities, including for achieving and accounting for NDCs. The session started with an update on the latest developments in the UNFCCC negotiations on Article 6. In advance of the ‘Rulebook’ for Paris being developed, options for accounting for international transfers of mitigation outcomes were then discussed along with types of readiness activities needed to support implementation of those options. The session then explored the latest developments in ICAO’s offsetting scheme, and what this might mean for countries’ crediting systems and accounting for their NDCs.
Moderator: Derik Broekhoff, Stockholm Environment Institute
Phillip Eyre, UNFCCC
   Update on Article 6 discussions
Yuji Mizuno, Institute for Global Environmental Strategies, Japan
   Options for accounting for ITMOs under the Paris Agreement
Andrew Howard, Koru Climate
   Latest developments in CORSIA and implications for readiness activities
10:20 Coffee break
10:50 Panel Discussion
Juan Pedro Searle, Ministry of Energy, Chile
Matthew Cowie, Ministry for Foreign Affairs and Trade, New Zealand
  Session 2 – Facilitating international cooperation on market development
To facilitate international cooperation through the new generation of market mechanisms established by Article 6 of the Paris Agreement and through climate finance, a cohesive approach is necessary to cover all the steps from the creation of readiness, to the design, planning and implementation of scaled-up mitigation actions and policies. Such an approach could help inform the policy making process, in a timely manner, both at a domestic and international level to ensure the most efficient use of limited public and multilateral funds and leverage of private investment.
11:30 Moderator: Zeren Erik, Ministry of Environment and Urbanization, Turkey
Venkata Putti, PMR Secretariat
   Proposal to support the development of the new generation of carbon markets
Panel Discussion
Martin Hession, European Commission
Sharlin Hemraj, National Treasury, South Africa
Daniel Besley, PMR Secretariat
End of Workshop
  Luncheon on WBG State and Trends Carbon Pricing 2017
The State and Trends of Carbon Pricing is an annual report produced by the World Bank that provides critical data and analysis on the growth of market-based measures to spur greenhouse gas reductions and investment in the low-carbon economy.
Venkata Putti, PMR Secretariat
   Presentation on the WBG State and Trends Carbon Pricing 2017