Update on the International Carbon Action Partnership (ICAP)

Climate Change Leadership Forum report number: 2

Briefing for the Climate Change Leadership Forum
Prepared by the Emissions Trading Group
Date: 29 July 2008

Developments since last report (16 June 2008)

Establishment of experts group on Monitoring Reporting and Verification

  1. A Monitoring, Reporting, Verification, Compliance and Enforcement (MRVCE) experts group (of officials) was launched in July and its first meeting was held on 28 July (29 July New Zealand time).  The experts group is made up of officials from ICAP members.
  2. Terms of reference for a report about best MRVCE practices and identifying possible barriers with a view to linking emissions trading schemes have been issued and distributed to potential consultants.
  3. A subcommittee of ICAP members comprised of one representative each from the EU, Canada/US and Oceana has been established to manage the project relating to the report.  The subcommittee will select the consultant(s) and manage the report process. 
  4. The experts network has been formed to further discuss issues relating to MRVCE regimes and to both provide information to and to peer review the consultant’s report.

    ICAP conference on Auctioning
  5. The next ICAP public conference will be on auctioning carbon allowances on 14 November 2008 in Washington DC.  This one day conference will discuss experiences with and plans for auctioning in emissions trading systems and other environmental markets around the world. The conference will explore issues related to the design and implementation of carbon allowance auctions and issues around coordination for linked markets.  ICAP will be announcing this conference shortly. 
  6. The conference is scheduled in conjunction with the Point Carbon and Pew Centre Carbon Market Insights Americas 2008 conference (in Washington from 12-14 November) to encourage wider participation.   A closed door workshop for ICAP members on allocation in general, and steering committee and plenary meetings for ICAP are also proposed in conjunction with the public auctioning workshop.