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Global Carbon Policy Handbook 2010 - Policies Driving the Growth of Carbon Trading Markets

Published By :

GlobalData

Published Date : Apr 2010

Category :

Databook

No. of Pages : 87 Pages


GlobalData, the leading business intelligence provider, has released its latest research study Global Carbon Policy Handbook, 2010: Policies Driving the Growth of Carbon Trading Markets, which is an offering from the companys Energy Research Group. The report provides an in-depth analysis on the carbon policy initiatives by the European Union, the US, Canada, Australia and other developed and developing economies. It details the regional climate change initiatives, the Kyoto Protocol and its mechanisms. It also provides an analysis on Clean Development Mechanism (CDM) and Joint Implementation (JI) projects. The report provides an overview on various carbon registries, carbon exchanges and the major companies participating in the carbon trade. The report provides the latest information on the value, volume and price of the emissions traded in project-based mechanisms, such as CDM, JI and Secondary CDM, and allowance markets such as the European Unions (EU) Emission Trading Scheme (ETS), New South Wales, Chicago Climate, Regional Greenhouse Gas Initiative (RGGI) and Assigned Amount Units (AAUs). The report discusses some of the reasons for the growth of carbon markets and provides carbon market forecasts until 2020.

Scope

The report provides a detailed analysis on the global carbon policy initiatives driving the carbon trading markets. Its scope is as follows.

  • Impact assessment of the carbon policies in the United States (US), the European Union (EU), Canada, Australia and Asia Pacific regions on the world carbon trading markets.
  • Carbon trading value from 2010-2020, which help in identifying a market potential.
  • Key carbon regulations and policies at regional level in the US and unified carbon regulatory framework in the EU and their impact on the growth of global carbon trading market.
  • Analyzes the probable regional policy instruments in the US and Asia Pacific regions, which will drive the global carbon trading markets beyond 2012.
  • Key carbon regulations and policies at regional level in the US and unified carbon regulatory framework in the EU and their impact on the growth of global carbon trading market.
  • Analyzes the regional policy instruments in the US and Asia Pacific regions, which will drive the global carbon trading markets.
  • Review of Clean Development Mechanism (CDM) projects in the Asia Pacific and Sub-Saharan regions in 2009
  • Details on various Kyoto mechanisms and helps in identifying potential markets by navigating the policy landscape worldwide from 2005-2012.
  • Key data and information on the volume and market value of carbon allowances, covering both project-based transactions and allowance-based transactions from 2004-09.
  • Historic pricing trends for carbon in various exchanges and project-based transactions from 2004-09.
  • Analyzes market-based instruments such as certifications and standards used in carbon trading in 2009.
  • Overview on investment firms, infrastructure and energy service providers, advisory companies, financial firms, brokerage firms, carbon solution providers and other auditing firms participating in carbon trade.
Reasons to buy

  • The report will enhance your decision making capabilities in a rapid and time sensitive manner.
  • Develop business strategies with the help of specific insights into policy decisions being taken on the carbon credits trade by EU 27, the US, Australia and other developed and emerging countries worldwide. 
  • Identify opportunities and challenges in exploiting carbon emission reduction projects worldwide.
  • Understand the market positioning of carbon credits in correlation with carbon policies.
  • Increase future revenue and profitability with the help of insights on the opportunities and critical success factors of the EU ETS in the carbon trading market.
  • Benchmark your investments against the major players in the carbon trading markets.
  • Be ahead of the competition by keeping yourself abreast with all of the latest policy changes on carbon mitigation globally.
  • Plan your investments to minimize the impact of carbon taxes due to changing carbon policies.
  • Plan your project locations and project types in order to capitalize on the growing carbon allowance market.
  • Identify the most suitable geography to invest in emission reduction projects.
  • Target the most suitable geography for emission reduction projects based on the policies to gain incentives.
  • Develop custom strategies for different geographies based on the stringency of the carbon policy in the respective area.
  • Navigate the carbon policies through detailed analysis of existing carbon allowance market dynamics and potential changes.
  • Identify the most promising geography to invest in energy efficiency and renewable energy projects, in order to minimize carbon taxes.
Table Of Contents

1 Table of contents 4
1.1 List of Tables 6
1.2 List of Figures 7

2 Introduction 8
2.1 Overview 8
2.2 GlobalData Report Guidance 9

3 Greenhouse Gas Emissions and its Impact on Global Carbon Policies 10
3.1 Impact of GHGs on Ecology 10
3.1.1 Introduction to Global Warming 10
3.1.2 Illustrations of Ecological Imbalance due to Excess Carbon 10
3.2 Global Initiatives to Reduce Carbon Footprint 11
3.2.1 The Kyoto Protocol and its Implementation Challenges 11
3.2.2 Development of Natural and Artificial Carbon Sequestration Techniques, Energy Efficiency Projects and Renewables 11
3.2.3 Evolution of Carbon Trading Market 12

4 Global Carbon Policy Frameworks Boosting Emissions Trading Markets 13
4.1 Overview of Regulatory Framework for Emission Trading Systems 13
4.1.1 American Clean Energy and Security Act and its Implications 13
4.1.2 European Unions Climate Change Policy 14
4.1.3 Climate Change Initiatives in Canada and Prospects for Emissions Trading 18
4.1.4 Australias Climate Change Initiatives will Aid the Emission Trading Mechanism 18
4.2 United Nations Framework Convention on Climate Change 18
4.3 Kyoto Protocol, a Precursor of Emissions Trading Systems 18
4.3.1 Overview of Kyoto Protocol, Participating Nations 18
4.3.2 Clean Development Mechanisms (CDM) 21
4.3.3 Joint Implementation and Assigned Amount Units 40
4.3.4 Emission Trading 47
4.4 Increasing Role of International Emissions Trading and International Emissions Trading Association in Boosting the Market 48
4.4.1 Objectives of IETA 48
4.4.2 Program by IETA 48
4.5 Various Regulatory Frameworks and Regional Initiatives in the US 49
4.5.1 American Clean Energy and Security Act of 2009 50
4.5.2 Regional Greenhouse Gas Initiative in the US 52
4.5.3 California Global Warming Solutions Act of 2006 AB 32 53
4.5.4 Western Climate Initiative 54
4.5.5 Midwestern Regional GHG Reduction Accord (MGGRA) 55
4.5.6 EPA Climate Leaders 55
4.5.7 Hawaii Global Warming Solutions Act of 2007 55
4.6 European Union Emissions Trading System Promotes Emissions Trading Market 55
4.6.1 EU ETS 56
4.6.2 Revised EU ETS 56
4.7 Japans Keidanren Voluntary Action Plan and Other Voluntary Markets 57
4.8 Emission Reduction Schemes of Australia 59
4.8.1 New South Wales Greenhouse Gas Abatement Scheme 59
4.8.2 Greenhouse Challenge Plus 59
4.8.3 Carbon Pollution Reduction Scheme 59
4.9 Canadian Governments Measures and Initiatives Drive Carbon Trading 60
4.10 Policies and Market Instruments Driving Carbon Trading Programs in Other Countries 61
4.10.1 Policy and Market Mechanisms in China 61
4.10.2 Policy and Market Mechanisms in South Korea 62
4.10.3 Policy and Market Mechanisms in New Zealand 62
4.10.4 Policy and Market Mechanisms in Russia 63
4.10.5 Policy and Market Mechanisms in Sub-Saharan 63
4.11 Impact of COP 15 on Carbon Policies and Emission Trading 64

5 Regional and Global Carbon Exchanges and Carbon Trading Markets 65
5.1 Increasing Role off Standard-Specific and Existing Registries 66
5.1.1 North American Markets 68
5.1.2 The Chicago Climate Exchange 69
5.1.3 European Union Emissions Trading System Market 71
5.1.4 The Australian Carbon Market 72
5.2 Project-Based Transactions by Region and Project Type 72
5.2.1 CDM and JI Buyers, Sellers and Over-the-Counter (OTC) Markets 73

6 Development of Certifications, Standards and Other Initiatives Facilitating Emissions Trading 76
6.1 American Carbon Registry Standard 77
6.2 The Climate Action Reserve Protocols 77
6.3 The CarbonFix Standard 77
6.4 Chicago Climate Exchange Offsets Program 78
6.5 Climate, Community, and Biodiversity Standards 78
6.6 EPA Climate Leaders Offset Guidance 78
6.7 Greenhouse Gas Services Standard 78
6.8 The Gold Standard 78
6.9 Greenhouse Friendly 79
6.10 ISO 14064 Standards 79
6.11 Plan Vivo 79
6.12 Social Carbon Standard 79
6.13 TUV NORD Climate Change Standard and VER+ Standard 79
6.14 Voluntary Carbon Standard 80

7 Competitive Landscape of Emission Trading Companies 81
7.1 3Degrees Incorporated 81
7.2 APX Incorporated 81
7.3 Baker & McKenzie 81
7.4 Blue Source 81
7.5 CantorCO2e 81
7.6 Climate Focus 82
7.7 Credit Suisse 82
7.8 EcoSecurities Group 82
7.9 Equator LLC 82
7.10 MGM International 82
7.11 Natsource 83
7.12 RNK Capital LLC 83
7.13 Sterling Planet, Incorporated 83
7.14 Tradition Financial Services/TFS Energy/TFS Green 83
7.15 TUV SUD America 83

8 Appendix 84
8.1 Abbreviations 84
8.2 Methodology 85
8.2.1 Coverage 86
8.2.2 Secondary Research 86
8.2.3 Primary Research 87
8.2.4 Expert Panel Validation 87
8.3 Contact Us 87
8.4 Disclaimer 87

List of Table


Table 1: Global, CDM Statistics, 2009 23
Table 2: Global, Analysis by Project Type, 2009 24
Table 3: Global, Expected CERs Allocations by Top Host Countries, 2009 25
Table 4: Global, Expected Average Annual Reductions by Other Host Countries, 2009 26
Table 5: Global, CERs Issued by Top Five Host Parties, 2009 27
Table 6: Global, CDM Registered Project Analysis by Top Host Countries, 2009 28
Table 7: Global, Expected Registered Project Activities by AI and NAI Investor Countries, 2009 29
Table 8: Global, Overview of Registered Project Activities by Scale, 2009 30
Table 9: Global, Registered Project Activities by Scale, 2009 31
Table 10: Global, Distribution of Registered Project Activities by Scope, 2009 32
Table 11: Global, Registered Projects by Region, 2009 33
Table 12: Asia Pacific, Expected Emissions Reduction from CDM Projects by Country, 2009 34
Table 13: Rest of the World, Expected Emissions Reduction from CDM Projects by Country, 2009 35
Table 14: Middle East and Africa, Expected Emissions Reduction from CDM Projects by Country, 2009 36
Table 15: Latin America, Expected Emissions Reduction from CDM Projects by Country, 2009 37
Table 16: Global, DNAs for AI and NAI Countries, 2009 38
Table 17: Global, DNAs for NAI Countries, 2009 38
Table 18: Global, Number of Parties and DNAs by Region, 2009 39
Table 19: Global, Project Design Documents, 2009 42
Table 20: Global, Accepted Determinations, 2009 42
Table 21: Global, List of Monitoring Reports , 2009 44
Table 22: Global, Verified Emission Reductions/Enhancements of Removals, 2009 46
Table 23: Carbon Market, Global, Carbon Emissions by Country, 2007 49
Table 24: The US, Implementation Timeline for AB32, 2006-2012 54
Table 25: Japan, Example of Voluntary Targets, 2009 58
Table 26: Japan, CDM/JI Projects Japanese Government Approved, 2009 58
Table 27: China, CDM Project Development, 2004-2008 61
Table 28: Korea, Number of Registered Projects and Korea Certified Emission Reduction (KCERs) issued 62
Table 29: New Zealand, Comparison of New Zealand Emission Trading Scheme (NZ ETS) with Australian Carbon Pollution Reduction Scheme (CPRS) and EU Emission Trading Scheme (ETS) 63
Table 30: Russia, Carbon Credit Allocation by Project Category in million tCO2 Equivalent, 2008-2012 63
Table 31: Global, Exchanges in the Carbon Market, 2009 65
Table 32: Global, Independent Registries and Registry Infrastructure Providers 66
Table 33: Global, Standard- and Exchange-Specific Registries 67
Table 34: North America, RGGI Market Value and Volume, 2009 68
Table 35: North American, CCX Market ($ Million), 2005-2009 69
Table 36: North America, CCX Offsets Registered (MtCO2e), 2009 69
Table 37: The EU, Volume of Carbon Dioxide Traded (MtCO2e), 2005-2009 71
Table 38: The EU, Prices of Carbon Dioxide Traded ($t/CO2e), 2005-2009 71
Table 39: The EU, Value of Carbon Dioxide Traded ($ m), 2005-2009 71
Table 40: Australia, Volume of Carbon Dioxide Traded (MtCO2e), 2005-2009 72
Table 41: Australia, Prices of Carbon Dioxide Traded ($t/CO2e), 2005-2009 72
Table 42: Australia, Value of Carbon Dioxide Traded ($ m), 2005-2009 72
Table 43: Global, Project Based Transactions by Volume of Carbon Traded (MtCO2e), 2005-2009 72
Table 44: Global, Project Based Transactions by Price of Carbon Traded ($t/CO2e), 2005-2009 73
Table 45: Global, Project Based Transactions by Carbon Market Value ($ m), 2005-2009 73
Table 46: Global, CDM Projects by Country in Numbers and Volume (MtCO2e), 2008 74
Table 47: Global, CDM Projects by Volume of Carbon Emissions and CER Pipeline Projects, 2008 75
Table 48: Global, CDM Projects by Competitiveness Ranking, 2008 75
Table 49: Global, Various Carbon Standards Statistics, 2009 76

List of Chart

List of Figures

Figure 1: EU 27, Greenhouse Gas Emissions by Sector (%), 2006 15
Figure 2: EU 27, Energy Consumption by Sector (%), 2007 16
Figure 3: EU 27, Carbon Dioxide Emission Allowances (Metric Tons per Year), 2008 17
Figure 4: Other EU 27, Carbon Dioxide Emission Allowances (Metric Tons per Year), 2008 17
Figure 5: Global, CDM Project Activity Cycle, 2009 22
Figure 6: Global, CERs Allocations by Top Host Countries, 2009 25
Figure 7: Global, CERs Issued by Top Five Host Parties, 2009 27
Figure 8: Global, CDM Registered Project Analysis by Top Host Countries, 2009 28
Figure 9: Global, Expected Registered Project Activities by AI and NAI Countries, 2009 29
Figure 10: Global, Registered Project Activities by Scale, 2009 30
Figure 11: Global, Distribution of Registered Project Activities by Scope, 2009 32
Figure 12: Global, Registered Projects by Region, 2009 33
Figure 13: Global, Designated National Authorities (DNAs) for AI and NAI Countries, 2009 38
Figure 14: Global, Number of Parties and DNAs by Region, 2009 39
Figure 15: Global, No of JI Projects by Country, 2009 41
Figure 16: Carbon Market, North America, Carbon Emissions by RGGI States, 2000-08 52
Figure 17: Carbon Market, The US, Regional Annual CO2Emissions Budget of the RGGI (Short Tons), 2009-2018 53
Figure 18: Japan, Industrial Classification of JVETS Participants, 2009 58
Figure 19: Carbon Market, Australia, Carbon Emission Reduction Targets Set by Government in Tonnes of CO2 per Person, 2009 60
Figure 20: Sub-Saharan Region, CDM Project Pipeline, 2008 64
Figure 21: Global, Transaction Volume by Registry in %, 2008 67
Figure 22: Global, Comparison of Transaction Volume by Registry in %, 2007-2008 68
Figure 23: North America, Offsets Registered (MtCO2e) by Year, 2004-2009 70
Figure 24: North America, Annual Offset Registrations (MtCO2e) by Type, 2008-2009 70
Figure 25: North America, Offsets Registered by Location (%), 2009 71
Figure 26: Global, Primary CDM and JI Buyers, 2008 73
Figure 27: Global, Transaction Volume by Project Location for Over-the-Counter Carbon Market, 2008 74
Figure 28: Global. Standard Utilization in Trading, 2008 80
Figure 29: GlobalData Methodology 86

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