On Wednesday 14 April from 3:00pm-4:30pm CEST, ICAP and the World Bank’s Partnership for Market Readiness (PMR) jointly hosted a launch event to mark the release of the updated version of the ETS Handbook.

Growing ambition in jurisdictions’ climate targets has resulted in growing adoption of emissions trading systems (ETSs). Currently, 38 countries, 18 states or provinces, and six cities have adopted an ETS, and additional systems are under development. While not a silver bullet, an ETS can help ensure jurisdictions meet their targets at least cost. However, to maximize its effectiveness, an ETS needs to be designed in line with a jurisdiction’s context.

The updated Handbook draws from recent learnings gained over the last five years as jurisdictions around the world have gathered experience in designing, implementing, and refining ETSs. The event provided an overview of the key design elements and policy issues as well as highlighted experiences and lessons learned from jurisdictions that have implemented an ETS.

The event agenda was as follows:

  • Welcome
    • Venkata Putti, World Bank
    • Rajinder Sahota, California Air Resources Board and ICAP Co-Chair
  • Expert Presentation
    • Stuart Evans, Vivid Economics
  • Panel Discussion – Designing and Implementing an ETS
    • Moderator: Emma Krause, ICAP
    • Panelists
      • Mark Sippola, Air Resources Supervisor, California Air Resources Board (CARB)
      • Jose Francisco Charry, Climate Change Director, Ministry of Environment & Sustainable Development, Colombia
      • Qian Guoqiang, Deputy General Manager, SinoCarbon, China
      • Hannah Lewis, Department for Business, Energy and Industrial Strategy, United Kingdom
    • Moderated Q&A
See the recording below: