Wci Stakeholder Update For January 12 2012

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Wci Stakeholder Update For January 12 2012

  1. 1. Western Climate Initiative WCI Emissions Trading Program Update San Francisco, CA January 12, 2012www.westernclimateini-a-ve.org   1  
  2. 2. WCI Emissions Trading Program •  Comprehensive  strategy  to  reduce  greenhouse   gas  emissions  and  spur  a  clean-­‐energy  economy   •  Benefits  include:   •  Reducing  costly  impacts  climate  change  will  have  on  water   resources,  natural  ecosystems,  air  quality,  &  environment-­‐ dependent  industries  like  agriculture  and  tourism     •  Providing  incen@ves  for  clean-­‐energy  technologies   •  Crea@ng  green  jobs   •  Increasing  energy  security   •  Protec@ng  public  health  www.westernclimateini-a-ve.org   2  
  3. 3. Recent Accomplishments •  Detailed  Program  Design  released  July  2010   •  California  rules  for  C&T  and  offsets  approved   December  2011   •  Québec  rule  for  C&T  approved  December  2011   •  Offset  Protocol  Review  and  Recommenda@on   Process  released  December  2011     •  Further  harmoniza@on  of  Canadian  emission   repor@ng  requirements  released  December  2011  www.westernclimateini-a-ve.org   3  
  4. 4. Recent Accomplishments •  WCI,  Inc.  incorporated  November  2011   •  WCI,  Inc.  provides  administra@ve  and  technical  services  to   support  the  implementa@on  of  state  and  provincial   greenhouse  gas  emissions  trading  programs   •  WCI  con@nues  to  exist  as  a  collabora@on  of  governments   interested  in  implemen@ng  market-­‐based  mechanisms  for   reducing  economy-­‐wide  GHG  emissions   •  These  organiza@ons  con@nue  to  include  jurisdic@ons   ac@vely  pursuing  a  C&T  program.    This  streamlines  the   process  of  developing  the  program  while  allowing  other   jurisdic@ons  to  join  when  ready.  www.westernclimateini-a-ve.org   4  
  5. 5. Regional Administration The  crea(on  of  WCI,  Inc.  will  allow  par(cipa(ng   jurisdic(ons  to  implement  their  programs  efficiently   and  consistently  to  create  a  regional  carbon  market       •  Services  will  include:   •  Management  of  a  compliance  instrument  tracking  system   •  Administra@on  of  allowance  auc@ons   •  Coordina@on  of  market  monitoring  and  oversight   •  Next  steps   •  Hire  execu@ve  director  and  staff  www.westernclimateini-a-ve.org   5  
  6. 6. Market Development Proper  market  design,  infrastructure,  and  oversight   reduce  compliance  cost  and  ensure  fair  treatment  of   market  par(cipants   •  Next  steps   •  Execute  contracts  for  support  services  for  auc@on  and   reserve  sales  and  market  monitoring   •  WCI,  Inc.  to  release  RFP  for  compliance  instrument   tracking  system  service  (CITSS)  opera@on   •  Allow  covered  en@@es  and  others  to  register  with  CITSS  www.westernclimateini-a-ve.org   6  
  7. 7. Offsets A  rigorous  offset  system  is  key  to  producing  high-­‐ quality  offsets  that  can  be  exchanged  across  Partner   jurisdic(ons   •     Next  steps   •  Finalize  process  for  issuing  offsets   •  Develop  offset  protocols  to  meet  WCI  program  criteria  www.westernclimateini-a-ve.org   7  
  8. 8. Emissions Reporting A  rigorous  repor(ng  system  and  high-­‐quality   emissions  data  are  important  for  achieving   environmental  and  economic  objec(ves   •  Next  steps   •  Harmoniza@on  with  final  EPA  oil  and  gas  methods,  while   maintaining  C&T  quality  data   •  Maintain  harmoniza@on  among  Partner  repor@ng   requirements    www.westernclimateini-a-ve.org   8  
  9. 9. Linking The  full  value  of  the  regional  program  will  be   realized  as  Partner  jurisdic(ons  complete  bilateral   linking,  recognizing  each  others’  allowances  and   offsets  for  compliance  purposes   •  Next  steps   •  Review  jurisdic@ons’  programs  to  assess  consistency   •  Complete  and  update  regula@ons  as  necessary  www.westernclimateini-a-ve.org   9  
  10. 10. Outreach •  Provide  stakeholders  with  periodic  updates   •  Con@nue  working  closely  with  federal   governments  and  other  climate  ini@a@ves  to   ensure  coordina@on  and  promote  na@onal  and   interna@onal  ac@on  www.westernclimateini-a-ve.org   10  
  11. 11. 2012 Implementation Timeline JanuaryRelease  RFP  for  tracking  system  opera@on   Final  Offset  System  Process  Recommenda@ons   Contract  w/  auc@oneer,  financial  services,   Staff  WCI,  Inc.   and  market  monitor    Tracking  system  user  registra@on   Complete  linking  between  CA  and  QC   1st  Auc@on   2nd  Auc@on   December Begin two-year compliance period

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