Transcript UNIDO Vietnam Support for CDM projects in the Industrial sector: Pilot Project in Co-operation with the Austrian Industry Training Sessions on the Kyoto CDM Understanding.

UNIDO Vietnam
Support for CDM projects in the Industrial
sector: Pilot Project in Co-operation with the
Austrian Industry
Training Sessions on the Kyoto CDM
Understanding the Carbon Market &
Carbon Finance Today – 2006
Mike Bess
Hanoi, Vietnam
26th and 27th June 2006
© ESD 2006
Summary
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Overview of the Carbon Market
Who is Buying and Selling at Present?
What kinds of prices are buyers paying for what kinds
of CDM projects now?
Difference between the ‘long-term’ CDM market and
the current ‘spot’ market
What CDM Project Emission Reductions are People
Buying Now
The EU ETS & its relevance to Vietnam CDM
What should Vietnam CDM project developers look
for from carbon buyers?
Who is buying the carbon
(the CERs)?
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Initially, had two main buyers – the Dutch
Government (ERUPT & CERUPT) & the World Bank
(Prototype Carbon Fund/PCF)
Then the Swedish, Danish and Finnish Governments
began to buy
The Austrian JI/CDM Programme became a major
buyer
Then many other countries (Spain, Flanders,
Belgium)
Many institutions such as IFC, EBRD, ADB, etc.
Now, many private buyers
Where is the carbon
(the CERs) going?
© ESD 2006
Where is the carbon
(the CERs) going?
• ‘Registries’ have been set up in all
Annex 1 countries
• The Dutch still number 1
• Surprisingly, UK has second largest
registered CERs
• Japan close in 3rd place
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What is influencing the
demand for CDM CERs?
• Companies now believe Kyoto Protocol
& the obligations of KP are ‘real’
• The EU ETS has finished its Pilot Phase
• The EU ETS is the international
prototype, pilot emissions trading
scheme
• Governments are enforcing KP targets
• The institutional framework (UNFCCC,
etc.) is now in place
© ESD 2006
Thank you!
Mike Bess
Director, International Division
Energy for Sustainable Development Ltd.
+44 1225 816 808
[email protected]
www.esd.co.uk
© ESD 2006