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GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
GHG Programs in the Compliance and Voluntary Markets
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GHG Programs in the Compliance and Voluntary Markets

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Intervención de Jerry Saeger, Program Manager at the Voluntary Carbon Standard Association, Washington D.C. en el marco de las jornadas de Mercado de Carbono. …

Intervención de Jerry Saeger, Program Manager at the Voluntary Carbon Standard Association, Washington D.C. en el marco de las jornadas de Mercado de Carbono.
16_02_2011
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http://www.eoi.es/portal/guest/evento/1392/i-jornada-mercados-de-carbono-y-reduccion-de-emisiones--carbon-markets-and-emission-reduction

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  • 1. GHG Programs:
    Compliance, Voluntary, What Next?
    16 de febrero 2011
    Escuela de Organización Industrial
    Madrid, España
    Jerry Seager
    VCS Association
  • 2. Agenda
    • The Clean Development Mechanism
    • 3. Overview
    • 4. Achievements
    • 5. Shortcomings
    • 6. Cancún
    • 7. The Verified Carbon Standard
    • 8. Structure
    • 9. Recent developments
    • 10. Next Generation Crediting Models
    • 11. Standardised approaches to baselines and additionality
    • 12. Jurisdictional and Nested REDD
  • Carbon markets - why bother?
  • 13. Registered CDM Projects by Country
    Projects: 2798
  • 14. Certified Emission Reductions by Country
    CERs: 548m
  • 15. Project Types
  • 16. Methodology Types
    Methodologies (92)
    (largescale)
  • 17. CDM - achievements
    • Significant emission reductions achieved
    • 18. 2798 projects, 548m tCO2e
    • 19. Investment in developing countries
    • 20. India – wind power, biomass
    • 21. Brazil – biogas, biomass
    • 22. Mexico – landfill gas, biogas
    • 23. Capacity building, development of expertise
    • 24. Project development
    • 25. Validation, verification, accreditation
    • 26. Registries, exchanges
    • 27. Carbon price established, confidence in carbon trading
  • Conservative and Discouraging Mechanism?
    • Volume and ability to scale
    • 28. Speed of project registration and CER issuance
    • 29. Evaluation on a project-by-project basis (additionality)
    • 30. Scope (project types)
    • 31. Transparency (project developer access, Executive Board decision making, appeals process)
  • CDM reform - Cancún
    • Executive board – improved communications with stakeholders, appeals process
    • 32. Crediting of projects – can begin from date project submitted for registration, rather actual date of registration
    • 33. Standardization in methodologies – default factors, standardized approaches to baselines and additionality
    • 34. Carbon capture and storage – green light if permanence and safety issues can be addressed
  • Fragmentation of Carbon Markets
  • 35. Agenda
    • The Clean Development Mechanism
    • 36. Overview
    • 37. Achievements
    • 38. Shortcomings
    • 39. Cancún
    • 40. The Verified Carbon Standard
    • 41. Structure
    • 42. Recent developments
    • 43. Next Generation Crediting Models
    • 44. Standardised approaches to baselines and additionality
    • 45. Jurisdictional and Nested REDD
  • The Verified Carbon Standard (VCS)
    • Established by leading NGOs (IETA, WBCSD, The Climate Group, WEF) to:
    • 46. Provide a global benchmark and framework for the voluntary carbon market
    • 47. Foster innovation within a context of quality, credibility and transparency
    • 48. Demonstrate workable frameworks that can be incorporated into compliance regimes worldwide
  • The VCS Association
    • Non-profit organization
    • 49. Headquartered in Washington, DC
    • 50. Single focus – to manage and develop the platform:
    • 51. No consulting
    • 52. No project development
    • 53. No methodology development
    • 54. No validation/verification
    • 55. No proprietary positions in the VCU market
    • 56. Funded primarily by VCU levy ($0.10 per VCU)
    • 57. Foundation grants help supplement special initiatives
  • Development of the VCS Program
    • VCS Version 1 released in March 2006
    • 58. Further consultation version released in October 2006
    • 59. Released for broad public stakeholder input
    • 60. Over 60 sets of comments submitted
    • 61. Steering committee appointed to draft VCS 2007
    • 62. VCS 2007 released November 2007
    • 63. VCS 2007.1 released November 2008 fully integrated AFOLU requirements into the VCS Program
    • 64. VCS Version 3 will be released March 2011
    • 65. 60-day public comment period concluded (10 October 2010)
    • 66. 38 submissions, with a total of 480 comments
    • 67. Focus on further improving the clarity of the program rules
    • 68. Further specification on certain areas (eg, appeals, grouped projects)
  • VCS Program
  • 69. VCS registry system
    New VCS registry?
    • 3 registries that meet key criteria:
    • 70. Financial standing
    • 71. Insurance requirements
    • 72. Insolvency protection
    • 73. Registries agree to:
    • 74. Conflict of interest requirements
    • 75. Replacement of VCUs issued in error
    • 76. Registry system is expandable
    • 77. VCUs can be certified against other standards (e.g., CCBS, Social Carbon)
  • Registration and issuance process
  • 78. Verified Carbon Units (VCUs)
  • 79. Recent developments
    • 52 million VCUs issued to date, from 557 projects
    • 80. First REDD credits issued last week
    • 81. New project types
    • 82. Peat rewetting and conservation (PRC) out in March
    • 83. Avoided conversion of ecosystems (ACE) out in 2011
    • 84. Wetlands under study
    • 85. Carbon capture and storage under study
  • Recent developments - methodologies
  • 86. Agenda
    • The Clean Development Mechanism
    • 87. Overview
    • 88. Achievements
    • 89. Shortcomings
    • 90. Cancún
    • 91. The Verified Carbon Standard
    • 92. Structure
    • 93. Recent developments
    • 94. Next Generation Crediting Models
    • 95. Standardised approaches to baselines and additionality
    • 96. Jurisdictional and Nested REDD
  • Technology tests
    • Technology test (positive list) – for demonstrating additionality
    • 97. CDM tool - “Guidelines for demonstrating additionality of renewable energy projects <= 5MW and energy efficiency projects with energy savings <= 20 GWh per year”:
    • 98. LDC or SIDS;
    • 99. Off-grid;
    • 100. < 750 kW capacity; or
    • 101. Host country or CDM EB approved
  • Performance benchmarks
    • Performance benchmark – for demonstrating additionality and quantifying emission reductions
    Source: Strengthening the CDM - A Cement Industry Perspective, WBCSD
  • 102. Why are standardized approaches useful?
    • Increase efficiency and reduce transaction costs
    • 103. Create certainty for investors by removing the subjectivity of current project specific additionality tests
    • 104. Allow crediting of a range of measures within a single methodology
    • 105. Provide a stepping stone to crediting mechanisms using national/sectoral baselines and Nationally Appropriate Mitigation Actions (NAMAs)
  • What are the challenges?
    • What are the data requirements?
    • 106. What is the appropriate level for the benchmark?
    • 107. Should the benchmark be different for new vs. existing facilities?
    • 108. Is the benchmark adjusted during the project crediting period?
  • VCS steering committee
    • The VCS is developing guidelines and rules on performance benchmarks and technology tests
    • 109. A steering committee has been established via an open call for members and was convened in October
    • 110. Four working groups are tackling the issues
    • 111. lessons from existing work
    • 112. overarching principles
    • 113. technology tests
    • 114. the broader context
    • 115. Output will be subject to peer review and public stakeholder consultation; first deliverables in second half of 2011
  • Jurisdictional REDD - regional baselines
    Region
    Regional baseline used by project
    VCS:
    • Approval process for regional baseline
    • 116. Crediting to project activities
    Credits
    Projects
  • 117. Regional baselines – process
    • Approval, registration and use of regional baselines for VCS project activities
    • 118. VCS would set out requirements, informed by project developers, states, provinces, technical experts
    • 119. Multi-stakeholder process to develop regional baseline
    • 120. Project-based accounting and crediting
  • Jurisdictional accounting and crediting
    Jurisdiction (state, province):
    • Develops program
    • 121. Sub-national accounting and MRV
    Sub-national accounting, MRV
    Region
    VCS:
    • Approval process for program
    • 122. Crediting to jurisdiction and project activities
    Projects
    Credits
  • 123. Jurisdictional accounting and crediting
    • VCS to set high level requirements (options), and jurisdictional programs would need to address:
    • 124. Accounting mechanism for emission reductions across the jurisdiction
    • 125. Monitoring, reporting and verification (MRV) for issuing credits at the jurisdictional level
    • 126. Risk management to address potential underperformance and non-permanence risk
    • 127. Accounting for leakage from project and non-project activities
    • 128. Ensuring additionality
  • Thank you... Questions?
    Jerry Seager
    Director of Strategic Initiatives
    Tel: +1 202 296 2407
    jseager@v-c-s.org
    VCS Association
    1730 Rhode Island Avenue, NW
    Suite 803
    Washington, DC 20036
    www.v-c-s.org

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