LACCF Bogota September 2014. 1/8 of global GHG emissions under the KP CP2 So far, countries with a CP2 target that ratified the KP CP2 are Monaco and.

LACCFBogotaSeptember 2014

1/8 of global GHG emissions under the KP CP2

So far, countries with a CP2 target that ratified the KP CP2 are Monaco and Norway (0.1% of global GHG emissions)

European Union

AustraliaUkraine

Kazakhstan

Belarus

Norway

Switzerland

Iceland

Liechtenstein

MonacoSize represent relative annual GHG emissions

Ukraine, Kazakhstan, and Belarus have not yet confirmed

International credit supply outstrips demand, but CDM success should not be overlooked

Full potential for issuance for 2014–2020

Residual demand for 2014–2020

OVERALL CDM SUCCESS

MtCO2e

Ten new carbon markets opened their doors since 2013

California CaT

Québec CaTKazakhstan ETS

Shenzhen pilot ETS

China houses the world’s second largest carbon market, covering over 1.2 GtCO2

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TS

Start date of compliance

Shanghai pilot ETS

Beijing pilot ETS

Guangdong pilot ETS

Tianjin pilot ETS

Hubei pilot ETS

Jan2013

Jun2013

Nov2013

Dec2013

Apr2014

2014 2015

Chongqing pilot ETS

Korea ETS

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-nationaljurisdictions are putting a price on carbon

Carbon pricing instruments cover about 5.5 GtCO2e

Full deployment of available instruments forinternational cooperation is needed

LACCFBogotaSeptember 2014

www.carbonfinance.orgwww.ecofys.com

Thank you!!

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 ETSSaitama ETSTokyo CaTRGGIHubei pETSShenzhen pETSChongqing pETSGuangdong pETSEU ETSAlberta SGERNZ ETSAustralia CPMTianjin pETSKAZ ETSQuébec CaTCalifornia CaTBeijing pETSKorea pETSShanghai 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

Implementation scheduled

Republic of Korea

Under consideration

Brazil, Chile, China, Japan, Mexico, Thailand, Turkey, Ukraine

Rio de Janeiro, São Paulo, Washington

Tax Implemented Denmark, Finland, France, Iceland, Ireland, Japan, Mexico, Norway, Sweden, Switzerland

British Columbia

Implementation scheduled

South Africa

Under consideration

Chile, Republic of Korea

Yet to be chosen

Colombia, Costa Rica, India, Indonesia, Iran, Jordan, Morocco, Peru, Russia, Tunisia, Vietnam

Manitoba, Ontario, Oregon