FROM RIO TO BALI. Quo Vadis Climate Policy? CLIMATE POLICY. Brussels, 13 th February European Social Dialogue Committee Extractive Industries

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1 CLIMATE POLICY FROM RIO TO BALI Quo Vadis Climate Policy? Brussels, 13 th February 2008

2 The Greenhouse effect

3 Historical Background 1988 Intergovernmental Panel on Climate Change 1992 Conference in Rio de Janeiro United Nations Conference on Environment and Development (known as Rio Conference), opening the UNFCCC for signature 1997 COP 3 in Kyoto Adopting the Kyoto Protocol 2001 COP 7 in Marrakech Finalising the Kyoto Protocol and setting operational rules for Emissions Trading, CDM and JI1997 COP 3 Kyoto Emissions Trading, CDM and JI1997 COP 3 Kyoto 16th February 2005 Kyoto Protocol enters into force 2007 COP 13 in Bali Bali Agreement establishing the Post-Kyoto framework

4 Kyoto basics Protocol adopted 11 th December 1997 In force from 16 th February days after 55 parties ratified with 55% Annex 1 emissions covered Now ratified by 169 countries covering 61.6% of Annex 1 emissions Legally binding emission targets for Annex 1 Parties who have ratified Industrialized countries that were members of the OECD (Organisation for Economic Co-operation operation and Development) in 1992, plus countries with economies in transition (the EIT Parties)

5 Changes in Greenhouse gas emissions by Annex 1 countries

6 Kyoto mechanisms Three mechanisms Clean Development Mechanism Joint Implementation Emissions Trading Principles To enable Annex 1 Parties to access cost- effective opportunities to reduce emissions or to remove carbon from the atmosphere in other countries While the cost of limiting emissions varies considerably from region to region, the benefit for the atmosphere is the same, wherever the action is taken Includes all six greenhouse gases

7 Terminology JI Joint Implementation Project implemented by one Annex 1 party in another one Generates ERUs (Emission Reduction Units) CDM Clean Development Mechanism Project implemented by an Annex 1 party in non-annex 1 party Generates CERs (Certified Emission Reductions) Greenhouse gases Carbon dioxide (CO2); Methane (CH4); Nitrous oxide (N2O); Hydrofluorocarbons (HFCs); Perfluorocarbons (PFCs); Sulphur hexafluoride (SF6) Annex 1 Countries countries with binding emission targets Europe, Australia, New Zeeland, USA, Canada, Japan, Russia etc. Non-Annex 1 Countries developing countries with voluntary participation China, India, Brazil, South Africa etc.

8 Sectoral CDM examples Landfill and wastewater gas recovery Landfill sites in almost every major city Afforestation/Reforestation Much of Africa is under pressure because of unsustainable natural resources management Gas Flaring Nigeria and Algeria An approved methodology is available Fuel Switching and co-generation N 2 O abatement Fertilizer manufacturers Community-based renewable energy and energy efficiency projects

9 CDM project locations

10 Regional Emissions Trading Schemes EU ETS State of Illinois Emissions Reduction Market System (ERMS) Government of Australia Australian Carbon Trading Scheme Government of North South Wales NSW Greenhouse Gas Reduction Scheme (GGAS)

11 The Bali Roadmap Emissions reductions by -20% to - 40% by 2020 for developed countries and global reduction by - 50% by 2050 Kyoto Protocol Adaptation Fund for developing countries Reduction of emissions from deforestation Technology transfer

12 CLIMATE POLICY Thank you for your attention