Policy approaches – How to increase ambition through large-scale carbon trading
Wednesday, 11 November 2020, 11:15-12:15
The crediting of national policies, never possible under the Kyoto Protocol-era mechanism of CDM, but now feasible under the broader rules of Article 6 of the Paris Agreement will allow for scaled-up carbon transactions. This session will hear from actors how policy approaches could work, challenges to their implementation. We will discuss how the appropriate application of policy approaches may be the trigger needed to open the gates for carbon finance to help fund the COVID recovery. We will see how various institutions' work in this space has progressed and debate the ongoing outstanding issues. Axel Michaelowa, Managing Director of Perspectives will present on the potential for policy crediting in Article 6, before critically analyzing the historic caveats and commenting on the impact of COVID-19 on our national baseline setting.
Use of Cooperative Approaches to Trigger Transformative Development
Nov 11 2020, 12:30pm-1:30pm CET
This side event will explore how cooperative approaches can support countries to enhance their NDC and strengthen transformative developments. Two new German projects will be presented. Firstly, the new capacity building project for countries, which have an interest in developing a strategy to use the international carbon market mechanism to increase ambition of the NDC over time. Secondly, the R&D project to classify the transformative potential of activities in order to optimize the design and use of Article 6. Perspectives Expert, Stephan Hoch will explore the character characteristics of transformative change, formulate an incentive structure that builds on Article 6 mechanisms and bring together an international community of experts. The analysis will take a three-pronged focus, looking first to the waste sector in Morocco, then the transport sector in Costa Rica and finally the energy sector in Pakistan.
Developments in Article 6 Piloting – Stakeholder Experiences
Nov 12 2020, 14:45-15:15
This event will share insights from the updated study on global Article 6 piloting and enabling initiatives, including stakeholder experiences made so far. The pilots and enabling initiatives are providing valuable experiences for negotiations and a general understanding how carbon markets will be operating under the Paris Agreement. With a focus on Uganda, Senegal and Ethiopia, Stephan Hoch of Perspectives will contribute to the panel with a dive into the experiences and lessons learned from Clean Development Mechanisms.
How to Retire Early: Carbon Pricing and Accelerating Coal Phase-out
Nov 12 2020, 16:45 – 17:45
To meet the Paris goals, coal must be phased out as quickly as possible. As the economics of renewables improve, existing coal plants are becoming increasingly uncompetitive. This session explores how international financial institutions could accelerate the replacement of coal plants with clean energy, while also ensuring a just transition – and discusses the potential role that carbon financing could play in the process. Stephan Hoch from Perspectives will elaborate on UNFCCC market mechanisms and international climate policy to explore the regional potential and support African countries in accessing carbon markets and climate finance in order to strengthen their NDC’s.
We propose a brief overview of our recently published paper “How to Retire Early” from Rocky Mountain Institute, Sierra Club, and Carbon Tracker Initiative, followed by a moderated panel discussion. We will reserve significant time for questions from the audience.