LACCF
Bogota
September 2014
1/8 of global GHG emissions under the KP CP2
European Union
Ukraine, Kazakhstan, and Belarus
have not yet confirmed
Liechtenstein
Australia
Iceland
Norway
Ukraine
Belarus
Size represent relative
annual GHG emissions
Kazakhstan
Switzerland
Monaco
So far, countries with a CP2 target that ratified the KP CP2
are Monaco and Norway (0.1% of global GHG emissions)
International credit supply outstrips demand,
but CDM success should not be overlooked
Full potential for
issuance for 2014–2020
Residual demand for
2014–2020
MtCO2e
OVERALL CDM SUCCESS
Ten new carbon markets opened their doors
since 2013
China houses the world’s second largest carbon
market, covering over 1.2 GtCO2
Share of global GHG covered by ETS
Korea ETS
Tianjin
pilot ETS
Shenzhen
pilot ETS
Kazakhstan ETS
Québec CaT
California
CaT
Jan
2013
Beijing
pilot ETS
Shanghai
pilot ETS
Jun
2013
Start date of compliance
Chongqing
Hubei
pilot ETS pilot ETS
Guangdong
pilot ETS
Nov Dec
2013 2013
Apr
2014
2014
2015
Carbon taxes around the world are evolving to
allow more flexibility to reduce emissions
Price signals in carbon pricing
initiatives are diverse
• Carbon prices among schemes occupy a
significant range
• Prices are:
• Aligned with national priorities and
political realities
• Consistent with the international
dialogue
• Reflecting features in each instrument
About 40 national and over 20 sub-national
jurisdictions are putting a price on carbon
Carbon pricing
instruments cover
about 5.5 GtCO2e
Full deployment of available instruments for
international cooperation is needed
LACCF
Bogota
September 2014
Thank you!!
www.carbonfinance.org
www.ecofys.com
Uncovering the cover:
Increasing share of global emissions under ETS
The number of tiles indicate the GHG coverage in each
scheme (each tile = 1.65%)
Swiss ETS
Saitama ETS
Tokyo CaT
RGGI
Hubei pETS
Shenzhen pETS
Chongqing pETS
Guangdong pETS
EU ETS
Alberta SGER
NZ ETS
Australia CPM
Tianjin pETS
KAZ ETS
Québec CaT
California CaT
Beijing pETS
Korea pETS
Shanghai pETS
Jurisdiction and status of each carbon pricing
instruments
Instrument
Status
Regional
National
Sub-national
ETS
Implemented
EU ETS
Kazakhstan, New Zealand,
Switzerland
Alberta, California,
seven Chinese pilots,
three Japanese
schemes, Québec,
RGGI
Tax
Yet to be
chosen
Implementation
scheduled
Republic of Korea
Under
consideration
Brazil, Chile, China, Japan,
Mexico, Thailand, Turkey,
Ukraine
Rio de Janeiro, São
Paulo, Washington
Implemented
Denmark, Finland, France,
Iceland, Ireland, Japan,
Mexico, Norway, Sweden,
Switzerland
British Columbia
Implementation
scheduled
South Africa
Under
consideration
Chile, Republic of Korea
Colombia, Costa Rica,
India, Indonesia, Iran,
Jordan, Morocco, Peru,
Russia, Tunisia, Vietnam
Manitoba, Ontario,
Oregon