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ClimateChangeandCOMACO
John Fay – UCT / Emerging Markets Group [email protected] CCSF 14 August 2009 Ithaca, New York
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The Challenge – limit global warming to below 2 degrees C Correlated to 450 PPM CO2 – currently approximately 390+ PPM CO2 80% emission reductions by 2050, 2020 mid-term goals being negotiated
Emissions growing 4x faster since 2000 than during previous decade from fossil fuel combustion and land use change World’s poorest countries, representing 800 million people, have contributed to less than 1% of total cumulative emissions since 1751 resulting in “climate justice” issues Requires far-reaching local, national and international action
Carbon Markets Overview
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Climate Change Realities
Basic Needs: Water, Food Security,
Sanitation, etc
Climate Change
Climate Change and Sustainable Development
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Incremental Change & Increased Frequency / Intensity of Climate-Related Extreme Events
Basic Needs: Water, Food Security,
Sanitation, etc
Climate Change
Drought Flooding
Heat Waves Water Scarcity Crop Yield Decreases Changing Disease Vectors
Humanitarian Assistance
Disaster Mitigation
Migration
Conflict / Post Conflict
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Carbon Markets Overview
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What is a Carbon Credit?
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CDM vs. Voluntary Markets
CDM (compliance) based off legally binding Kyoto Protocol
Voluntary does not implement legally binding requirements
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Carbon Markets Overview
Annual volumes of project-based emission reduction transactions – note the voluntary portion
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Carbon Markets Overview
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Carbon Markets Overview
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Carbon Markets Overview: CDM Market Basics
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Kyoto Protocol Market (Mandatory Market) CDM Offset Process
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CDM Issues
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Voluntary Markets
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Voluntary Markets
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Enabling Carbon Markets for Zambia
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COMACO and Carbon Finance
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COMACO and Carbon Finance
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COMACO and Carbon Finance
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COMACO and Carbon Finance
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COMACO and Carbon Finance
Which Market? CDM or Voluntary (which standard?) Existing methodology or develop COMACO specific
Project Financing – futures contract, emissions reduction purchase agreement (ERPA) or self finance
Establish baseline – carbon sequestered vs. business as usual
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COMACO and Carbon Finance
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GeneralDiscussion
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