CARBON EXPO 2014 Highlights Domestic Actions, Need for Global Carbon Price
30 May 2014: CARBON EXPO 2014 brought together approximately 200 speakers and more than 1,700 participants from around 70 countries to analyze current carbon market trends, promote green technology solutions and strategize on three themes: policy and markets, climate finance and sustainable energy.
Domestic carbon initiatives are progressing despite uncertainty facing the global carbon market, according to participants. Many participants stressed the need for: an international agreement to bring these initiatives together under one, single framework; a carbon price to redirect financial flows to low-carbon, resilient growth; and innovative technology.
In a statement, Christiana Figueres, UNFCCC Executive Secretary, called for putting “a stable and substantial global price on carbon” and emphasized the importance of market instruments. She concluded stating that, "by 2020, the cost of greenhouse gas (GHG) emissions must simply be a part of the cost of doing business."
Neeraj Prasad, the World Bank Institute (WBI), said much remains to be done “to frame the private sector's expectation from, and their role in, the climate policy process.” State Secretary Jochen Flasbarth, German Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety, emphasized the need for domestic action, saying the EU must agree on an EU-wide target to reduce emissions by 40% by 2030, but not at the expense of global action.
The Expo also provided the first opportunity to hear from Green Climate Fund (GCF) Board members and advisors since the GCF became fully operational and “opened for business.” GCF Board members and advisors discussed opportunities for business involvement and resource mobilization.
During the Expo, the World Bank launched a report, titled ‘State and Trends of Carbon Pricing,' which emphasizes the momentum building around a variety of domestic carbon instruments. IETA released a ‘Market Sentiment Survey.' IETA President Dirk Forrister said policymakers around the world, “from China to Europe to California” are increasingly recognizing the role of carbon markets in fighting climate change.
The 11th CARBON EXPO met from 28-30 May, in Cologne, Germany. The International Emissions Trading Association (IETA), the World Bank and Koelnmesse organized the Expo. The CARBON EXPO is the flagship event for carbon markets and a networking opportunity for public and private sector actors, civil society organizations and media. [CARBON EXPO 2014 Homepage] [CARBON EXPO Press Release] [IISD RS Story on 'State and Trends of Carbon Pricing']