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Lending credence to the Asia Pacific region’s importance in global emission trading market, the International Emissions Trading Association (IETA) launched the Annual Greenhouse Gas Market report for the first time at the Carbon Forum Asia 2011 in Singapore.
Featuring strategic white papers describing the policy developments and current emissions abatement programmes in over 29 countries, the report provides insights on the world’s engagement with climate change through pricing and market mechanisms.
clean development mechanism
“Asia has largely enabled expansion of the clean development mechanism or CDM, and consequently, the region has a huge interest in future global policies and market mechanisms.
“Asia is also where a number of new and exciting national and regional markets are being developed, further underscoring the relevance of future global agreements to the region,” Mr Henry Derwent, President and Chief Executive Officer of IETA, said at the conference.
With the end of the Kyoto Protocol drawing nearer, conversations about the future of CDM and its role in the global climate change abatement efforts abounded.
nama
The session on how CDM and NAMA (nationally appropriate mitigation actions) can intersect and how developing countries can support domestic policies offered fresh and insightful perspectives on how a balance can be drawn between market and non-market mechanisms.
Featuring leaders from Asia’s developing markets, the session delved into mitigation actions and how these can be enhanced and developed through NAMA.
renewable energy
“The growth of renewable energy projects over the last five years can been seen as a CDM success story, especially when we take a closer look at South East Asian markets. While I believe that CDM will continue to be relevant, there is a need to develop the market further, so that it reflects the current global situation. I see NAMA as a way to move forward, but the outcome of NAMAs will be seen only some years from now. Therefore, we will need to have functional markets and mechanism to bridge the gap in between. Additionally, in order to reap NAMA’s full potential, there needs to be more consensus among countries on how to develop it,” said Mr Kimmo Siira, Senior Representative, Nordic Environment Finance Corporation (NEFCO).
Representing 88 organisations from 29 countries including, Australia, China, Germany, Hong Kong, India, Indonesia, Ireland, Italy, Malaysia, Singapore, Sweden, and the United Arab Emirates, the Carbon Forum Asia Trade Fair proved to be a fruitful gathering to explore opportunities in carbon abatement market.
The Asian Development Bank hosted Seller’s Pavilion of several countries, featuring various opportunities for CDM and sustainable project investors.
China was a prominent presence at the trade fair, with its debut pavilion featuring co-exhibitors, such as Hunan Xiangke Clean Development Co, Shanghai Xintan Investment & Management Company and the Tianjin Climate Exchange.
Featuring 123 industry leaders and experts, the Carbon Forum Asia 2011 Conference once again brought together carbon market players, policymakers and industry analysts, in a total of 40 insightful dialogues.
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