What next for international carbon markets?
11 March 2020
As part of the cross-committee inquiry on climate change and COP26, the EU Energy and Environment Sub-Committee takes evidence on the current state of negotiations on the rules for international carbon markets
Wednesday 11 March 2020, Committee Room 2, Palace of Westminster.
At 12.00 noon
- Gilles Dufrasne, Policy Officer, Carbon Market Watch
- Anita Lloyd, Director, Squire Patton Boggs LLP
- Peter Betts, Associate Fellow, Chatham House
Areas of discussion
The Paris Agreement sets out mechanisms for carbon trading, allowing emissions reductions to happen wherever they will be cheapest. Negotiations at the last UN climate conference were supposed to finalise the rules for those mechanisms, but they ultimately failed to reach agreement. That means the negotiations will roll forward to the next conference, COP26, which the UK is hosting in November.
Topics the Committee will discuss with the witnesses
- Why international carbon markets are important
- The outstanding issues of contention, such as double counting and carryover credits
- What the ideal outcome at COP26 would be
- What the Government needs to be doing ahead of COP26 to broker an agreement