Emissions Trading Worldwide

More documents

Recommendations

Info

Latin America and the Caribbean Many jurisdictions in Latin America are considering carbon pricing. Although Chile and Mexico have a carbon tax, this could transition to an ETS in the long term. Additionally, Brazil is also exploring the possibility of a cap-and-trade program. ETS in force ETS scheduled ETS considered Mexico Chile São Paulo Brazil Rio de Janeiro 46
Brazil under consideration Brazil’s National Climate Change Policy (PNMC), which was enacted in December 2009, aims to promote the development of a Brazilian market for emissions reductions. As part of its activities under the PMR, the Brazilian government is considering the implementation of market instruments to meet Brazil’s voluntary GHG reduction commitment and reduce overall mitigation costs. Brazil is currently assessing different carbon pricing instruments including an ETS and a carbon tax. The Ministry of Finance is developing design options and conducting comprehensive economic and regulatory impact assessments for both instruments. Depending on the impact assessment, the work stream is expected to culminate in a White Paper with design recommendations for a carbon pricing instrument for Brazil. In addition, the Ministry of Finance has launched a strategy to strengthen the understanding of carbon pricing instruments among stakeholders through engagement, communication, and consultation. Since 2013 a group of leading companies have been participating in a voluntary ETS simulation. The initiative offers a platform to gain experience and develop proposals for a wide-ranging and robust approach towards the Cap-and-Trade market in Brazil with the purpose of promoting the reduction of national GHG emissions at the lowest possible cost. In 2015, 23 companies from diverse sectors of the Brazilian economy took part in this exercise. The allocation process and trading is managed by the Rio de Janeiro Green Stock Exchange (BVRio) and the ETS design is coordinated by the Centro de Estudos em Sustentabilidade da Fundação Getúlio Vargas (GVCes/FGV). background information Overall Ghg <strong>Emissions</strong> (excl. LULUCF) 1,027.7 MtCO 2 e (2012) OVERALL GHG EMISSIONS BY SECTOR MtCO 2 e (2012) 8.3 % 43.4 % 4.8 % 24 % 2 % Industrial processes (85.4) Agriculture (446.4) waste (49.8) 19.5 % Energy excl. Transport (246.2) Fugitive emissions (18) Transport (199.9) GHG Reduction Targets By 2020: Voluntary commitment to reduce GHG emissions by 36.1–38.9% compared to BAU projections. By 2025: 37% reduction from 2005 GHG levels (INDC Submission). By 2030: Indicative contribution of 43% reduction from 2005 GHG levels (INDC Submission). other information Institutions involved Ministry of Environment, Ministry of Finance (General Coordination of Environment and Climate Change) Brazil — Rio de Janeiro under consideration The Brazilian state of Rio de Janeiro adopted subnational climate legislation in 2010. The Policy on Global Climate Change and Sustainable Development (PEMC) sets climate targets and identifies the waste, transportation, energy and industrial sectors as crucial for emissions reductions. Rio de Janeiro has also established a GHG inventory. The state is planning to implement a mandatory ETS to cover major polluting companies in the cement, ceramics, chemicals and petrochemicals industries. The scheme was announced during the Rio+20 Conference in 2012 and was expected to start in early 2013. However, it has been delayed until further notice. The city of Rio de Janeiro is also the headquarters of the “Bolsa Verde do Rio de Janeiro” (BVRio). BVRio functions as an electronic exchange and registry for emission credits and other voluntary market products. background information Overall Ghg <strong>Emissions</strong> (excl. LULUCF) 67 MtCO 2 e (2010) OVERALL GHG EMISSIONS BY SECTOR 15.4 % 7.6 % 9 % 68.1 % Industrial processes (10.3) Agriculture (5.1) waste (6.0) Energy (45.6) MtCO 2 e GHG Reduction Targets By 2030: An emissions intensity (tCO 2e/GDP) target equivalent to or below 2005 intensity levels. other information Institutions involved Secretaria de Estado do Ambiente (SEA), State Environment Institute (Instituto Estadual do Ambiente) international carbon action partnership 47
Page 1 and 2: Emissions Trading Worldwide Interna
Page 3 and 4: 2 Bildquelle, Bildunterschrift
Page 5 and 6: 03 Foreword Jean-Yves Benoit and Ma
Page 7 and 8: Practitioner Insights Designing Cap
Page 9 and 10: Overall Architecture New Entrants R
Page 11 and 12: There is considerable room for simp
Page 13 and 14: Allowance prices are gradually risi
Page 15 and 16: plans to the EPA indicating how eac
Page 17 and 18: “China’s intention to launch a
Page 19 and 20: Meanwhile, during the first phase (
Page 21 and 22: “This represents a unique and inn
Page 23: A regularly updated, interactive ve
Page 26 and 27: Global GHG emissions covered by ETS
Page 28 and 29: 28
Page 30 and 31: Europe and Central Asia More than a
Page 32 and 33: the european union emissionS tradin
Page 34 and 35: swiss emissions trading system Flex
Page 36 and 37: Russian Federation under considerat
Page 38 and 39: North America Following the announc
Page 40 and 41: Regional Greenhouse Gas Initiative
Page 42 and 43: California Cap-and-Trade Program Ph
Page 44 and 45: Québec Cap-and-Trade System Flexib
Page 48 and 49: Brazil — São Paulo under conside
Page 50 and 51: Asia-Pacific Asia is rapidly establ
Page 52 and 53: Tokyo Cap-and-Trade Program The low
Page 54 and 55: Target setting emissions trading sy
Page 56 and 57: ETS legislation was amended to allo
Page 58 and 59: Korean Emissions Trading System or
Page 60 and 61: Chongqing (Pilot) Emissions Trading
Page 62 and 63: Hubei (Pilot) Emissions Trading Sys
Page 64 and 65: Shenzhen (Pilot) Emissions Trading
Page 66 and 67: Taiwan under consideration On 1 Jul
Page 68 and 69: 68
Page 70 and 71: List of Acronyms ASSET Advanced Tec
Page 72: As world leaders gathered in Paris

Emissions Trading Worldwide

Create successful ePaper yourself

Delete template?

Save as template?