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Towards an International Carbon Market: Lessons Learned and Post-2012 Outlook

11th June 2007

There will be a reception for all attendees after the event.


TOWARDS AN INTERNATIONAL CARBON MARKET

An efficient and effective international carbon market is a key element of a successful global climate regime. Carbon emissions trading has become a perplexing topic and a daunting challenge for lawyers and environmentalists, as much as investors and governments.

Timing is of essence, and now is the perfect moment to joint the climate change and carbon markets discourse:
• EU ETS market and the Kyoto Protocol's Clean Development Mechanism (CDM) and Joint Implementation (JI) project markets have taken off considerably in the past two years;
• Time for review of the EU ETS as Phase 1 comes to an end;
• Phase 2 of the EU ETS commences in 2008 coinciding with the first Kyoto Protocol's commitment period commencing the same year;
• UK's ambitious new Climate Change Programme announced in March 2007;
• EC's comprehensive strategy to reduce carbon emissions from new cars by 25% from current levels by 2012; EC's proposed directive bringing air transport under EU ETS by 2011/12.

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