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  • 05 Oct 2017 17:05 | Anonymous member (Administrator)

    Organised by ATAG, in partnership with IATA, ACI, CANSO and ICCAIA, the 2017 Summit in Geneva came exactly one year after the historic agreement at the International Civil Aviation Organization (ICAO) to institute the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). 

    The Summit brought together over 360 aviation leaders and experts to discuss driving sustainable growth in aviation, sustainable aviation fuels, technology’s contribution to the 2050 goal to reduce aviation’s net CO2 emissions, and long-term challenges according to industry leaders.

    Now that CORSIA has been agreed upon, the Summit was an opportunity to look towards the long-term future of aviation and discuss how the industry can develop in a sustainable manner. 

    IETA President and CEO Dirk Forrister joined a panel session along with Jane Hupe (ICAO), Paul Steele (IATA) and Peter Vis (European Commission). He underlined the challenges ahead in the context of the current negotiations on the Paris Agreement’s Article 6 mechanism, and elaborated on the vital role carbon markets will play in helping international aviation achieve its goal of carbon-neutral growth after 2020.


  • 03 Oct 2017 16:50 | Anonymous member (Administrator)

    On September 28, ICROA Programme Director Simon Henry participated in a panel session discussing the role the voluntary carbon market can play in bridging the ambition gap in the Paris Agreement, at the 2017 Carbon Forward Conference in London. In his presentation he discussed the latest trends in the voluntary carbon market, drawing on the results of our recent report on the drivers and benefits of offsetting.

    He also presented an update on ICROA’s work to develop guidance on pathways to increased voluntary action by non-state actors. This report sets out ICROA’s views on how the market can grow after 2020, and how voluntary action can contribute to delivering the objectives of the Paris Agreement. The guidance describes three potential models for the future framework of the voluntary carbon market, accommodating the variability in NDCs and the provisions set out in the Paris Agreement. The presentation from his panel session is available here


  • 05 Sep 2017 14:18 | Anonymous member (Administrator)

    Businesses are voluntarily reducing their emissions as they see climate change poses risks to their operations, according to a new survey.

    The Imperial College London survey, conducted in consultation with ICROA and the UNFCCC, assesses the business demand and preferences for voluntary carbon credits to offset emissions.

    Overall, 94% of respondents feel that organisations should reduce their greenhouse gas (GHG) emissions, even when not required to do so by law, and 79% believe that climate change poses a risk to their organisation.The results of the survey show that respondents across a wide range of sectors are primarily using offsetting to take responsibility for their GHG emissions and see it as a solution to mitigate their impact on the environment.

    “The effects of climate change, such as extreme weather events and supply chain failure, pose real threats to business,” says Simon Henry, ICROA Programme Director. “Voluntarily offsetting their emissions allows businesses to play a role in this global challenge and take steps to mitigate their climate impact.”

    Beyond carbon mitigation, offset projects generate a range of co-benefits to communities such as health improvements, alternative livelihoods, water stewardship and biodiversity conservation. These co-benefits can increase the willingness to pay for offsets, and 81% of respondents think these extra benefits should be verified.

    “This report provides important insights into what attributes make offsets more or less attractive to companies, in addition to climate change mitigation. Clearly aspects such as co-benefits associated with the offsets are important which may also be useful to consider for new market instruments emerging in the UNFCCC process,” says Niclas Svenningsen, Manager for Strategy and Relationship Management, UNFCCC.

    Businesses have a preference for domestic and local projects. Increasingly, they are also looking to use carbon finance projects to lessen their environmental impact within their own supply chains.

    A better recognition of the contribution of offsetting to climate change mitigation would increase the use of offsets, respondents said. Furthermore, half of offset users say they have experienced tangible benefits from voluntary offsetting, ranging from market differentiation to employee engagement. More data on these benefits would help build the case for more businesses to take voluntary action.


    The full report is available to download here.

  • 21 Jul 2017 16:17 | Anonymous member (Administrator)

    On 29-30 June 2017, IETA International Director Sophy Greenhalgh and a number of IETA / ICROA members recently attended a Climate Technology Initiative workshop hosted by the German Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety (BMUB).

    The workshop held insightful discussions on climate action in international aviation and ICAO’s new global market-based measure CORSIA. Presentations and panel discussions on interactions between the Paris Agreement and CORSIA as well as other regional climate policies were held over the two days.

    The workshop brought together a number of experts to provide analysis of the general requirements for CORSIA, ranging from monitoring, reporting and verification and considerations of the eligibility criteria proposed, through to the interaction between CORSIA and the Paris Agreement and the European Union’s emission trading system. The workshop also presented various scenarios on the potential implications of CORSIA for the global supply and demand of carbon credits and the expected requirements of capacity building.

    An overview of the science behind climate mitigation in the aviation sector was provided by the German Aerospace Centre presenting new research to demonstrate that roughly 5% of anthropogenic warming is caused by aviation, including both direct greenhouse gas emissions and indirect climate effects.

    Sophy Greenhalgh gave a presentation, introducing the International Carbon Reduction and Offset Alliance and the role it plays in the voluntary markets, elaborating on ICROA endorsed voluntary credit mechanisms for CORSIA and the role aviation can play by inclusion of REDD+ into CORSIA.

    The Verified Carbon Standard presented on the innovative role that voluntary markets have made over the years offering new project types which will be important as nationally determined contribution policy gains more coverage of country emissions. First Climate talked of supply demand dynamics of current voluntary markets, noting there is limited supply of various project types.

    The workshop concluded that in order to project post-2020 carbon market developments, it is essential to understand how the Paris Agreement and other regional climate policies will interact with CORSIA and shape these markets in the future.

  • 30 Jun 2017 12:29 | Anonymous member (Administrator)

    ICROA is pleased to welcome Althelia Ecosphere as a new member company. 


    Althelia Ecosphere is an impact investment manager focusing on designing and deploying innovative financing solutions that enable a transition towards sustainable management of the earth's finite ecosystem-based resources such as agricultural landscapes, forests and coastal environments. The company works by linking sources of capital with activities on the ground that deliver outcomes that unify economic, social and environmental improvements, generating competitive returns alongside measurable social and environmental impact.

    Althelia Ecosphere’s diverse EUR 100 million portfolio of investments from Latin America, Africa and South East Asia comprises real assets (certified commodities and agricultural produce) and environmental services (emissions reductions and other ecosystem services). Althelia’s portfolio is targeting over 70 million tonnes of emissions reductions of which about 20 million tonnes have already been achieved. It also contributes to the improved management of 2 million hectares of land as well as to the protection of 2 million hectares of critical habitat for high conservation value species.

    With the launch of Ecosphere+, Althelia’s sales and marketing arm, there is now a dedicated team focused on building and growing demand for natural climate solutions with measurable SDG impacts, ecosystem services and sustainably produced commodities.  

    We are delighted to join ICROA and contribute to the industry association’s work on shaping future voluntary climate action to help achieve the <2°C target,” said Edit Kiss, Director of Business Development and Operations at Althelia Ecosphere.

  • 20 Jun 2017 15:12 | Anonymous member (Administrator)

    On 22 May 2017 ICROA organized a workshop on ‘Scaling voluntary action within the framework of the Paris Agreement’, involving voluntary market stakeholders and national governments. The participants took part in roundtable discussions based on the 'World Café' format and shared their opinion on key questions regarding the future of voluntary action.

    We have a produced a short report which summarises the conversations held at each of the workshop roundtables, which focused on the following five themes:

    1. The concept of offsetting
    2. Nationally Determined Contributions (NDCs)
    3. Article 6 of the Paris Agreement
    4. Demand side of the voluntary market
    5. Governance and infrastructure

    This workshop was the first of a bi-annual series of workshops designed to build a broad coalition of stakeholders to address the forthcoming market challenges, and to help secure a role for voluntary action in a post-Paris world.

    ICROA will build on this first workshop by developing guidance on pathways to increased voluntary action by non-state actors. This will set out our views on how the market can grow after 2020, and how it can help contribute to delivering the objectives of the Paris Agreement. To refine this guidance, ICROA will be seeking targeted consultation over the course of summer 2017.

    The second workshop of the series will be held in Bonn at COP 23 in November 2017 where we will look to build on the outcomes from Barcelona and focus the discussion on pathways to increased voluntary action by non-state actors. Our longer-term ambition is to develop guidance that is widely supported and actioned by Parties and the private sector.

         

  • 09 Jun 2017 16:22 | Anonymous member (Administrator)

    On 8th June, ICROA Programme Director Simon Henry moderated a workshop on “Clean Energy Future: Carbon emissions – transitioning to net zero" at the Responsible Business Summit Europe in London. This is Europe’s leading business conference focusing on the latest in sustainability, communications and governance. The workshop discussed the opportunities and challenges for companies in transitioning to net zero carbon emissions. Simon was joined on the panel by:

    • Mark Chadwick: Founder and CEO of Carbon Clear (an ICROA member); and
    • Hans Koeleman: Director of Corporate Communications & CSR at KPN

    After opening presentations from the panellists, the workshop focused on a number of roundtable discussions. These allowed participants to explore the subject of transitioning to net zero carbon emissions in more detail, specifically focusing on the following three topics:

    • Setting the vision: How do you build the case internally within an organisation for transitioning to net zero, and how do you get buy-in from senior managers?
    • Implementing the governance arrangements: What systems to do you need in place to ensure you’re on track, and how do you measure the impact of your programmes?
    • Delivering the transition economically: How do you decide what actions to take, and how do you maximise the value of going to net zero?
  • 01 Jun 2017 17:08 | Anonymous member (Administrator)

    ICROA analysis of voluntary carbon market data shows that 43.5 million carbon credits were retired1 in 2016 across the major voluntary market standards.

    The total volume retired is equivalent to removing 9.3 million cars from the road for one year. However, this is a slight dip in levels from 2015, which at 45.9 million credits was a record high for the voluntary market. Over the last five years, the market volume has more than doubled, demonstrating the continued growth in demand for voluntary offsets from corporate buyers. 


    “The voluntary carbon market continues to deliver strong results,” says ICROA Programme Director Simon Henry. “Credit retirement data is the clearest measure of the size of the market, and the data indicates volumes are very close to the record high we saw in 2015.”

    ICROA’s analysis uses data from the public registries of the major voluntary market standards: American Carbon Registry (ACR), Clean Development Mechanism, Climate Action Reserve (CAR), Gold Standard, and the Verified Carbon Standard (VCS). All these standards are endorsed within ICROA’s Code of Best Practice for Carbon Management Services.

    “ICROA is optimistic of future growth in the voluntary carbon market, particularly since there is an ambition gap in the Paris Agreement that requires more than has been pledged by countries so far,” Henry adds. “ICROA’s members are seeing that the private sector is willing to play a role in helping close that gap.”

    “The voluntary market will still have a role to play in engaging business in the climate fight even under the Paris Agreement,” says Dirk Forrister, IETA’s President and CEO. “It allows private sector actors from all over the world to step into a leadership role and find new ways of responding to climate change.

    “There is a disconnect between where science says we need to be and how far the Paris Agreement will take us, and the voluntary carbon market will be crucial in bridging that gap.”

    NOTES

    1: A carbon offset credit is classed as retired when it is permanently removed from the marketplace, such as to voluntarily reduce or neutralise the emissions from an individual, government, corporate, or other organisation.
  • 22 May 2017 17:39 | Anonymous member (Administrator)

    Jointly organised by the World Bank Group, IETA and Fira Barcelona on May 22-25, the new platform Innovate4Climate (I4C) brought together business and finance leaders, multilaterals, and governments from around the world.

    ICROA hosted an invitation-only workshop on ‘Scaling voluntary action within the framework of the Paris Agreement’, involving voluntary market stakeholders and national governments. This successful first edition was oversubscribed and attracted over 80 participants who took part in roundtable discussions based on the 'World Café' format. As an introduction to these discussions, the following panelists from the public and private sector shared their views on the challenges and opportunities for the future of the voluntary market:  

    • Glen Murray: Ontario Minister of the Environment and Climate Change
    • Marion Verles: CEO, Gold Standard Foundation (presentation here)
    • James Grabert: Director, Sustainable Development Mechanisms, UNFCCC (presentation here
    • Andrew Howard: Director, Koru Climate (presentation here)
    • Mahlin Ahlberg: Senior Policy Advisor, German Ministry of Environment (presentation here)

    In the past 15 years, the voluntary market has helped raise ambition, mobilise private sector finance and build momentum around emissions mitigation. These experiences will prove valuable in helping to deliver the objectives of the Paris Agreement. At the same time, the entry into force of the Agreement will create opportunities for increased voluntary action, but will also raise important questions, which were discussed by the participants during the roundtables: 

    • Is the concept of offsetting still fit for purpose and practicable under the Paris Agreement?
    • Does offsetting have different roles to play in different types of NDCs?
    • Are specific provisions needed under Article 6 to support voluntary action? If so, what areas would these provisions need to focus on?
    • What incentives would drive higher levels of voluntary action from the private sector, and what options are available to governments to encourage voluntary action?
    • What governance and infrastructure arrangements are needed to ensure that voluntary actions contribute to NDCs under the Paris Agreement, whilst maintaining environmental integrity?

    This edition was the first installment of a bi-annual series of workshops designed to help secure a role for voluntary action in a post Paris world. ICROA will build on this first edition to write a report which will serve as guidance and a communication tool for the second edition scheduled for November 2017 during COP23 in Bonn.

       

  • 18 May 2017 11:24 | Anonymous member (Administrator)

    Simon Henry, ICROA Programme Director, joined a panel discussion at the Annual Global Impact Investment Conference in Geneva to discuss the drivers behind corporate carbon offsetting strategies.

    The conference highlighted the latest R&D techniques and metrics being used to widen the investment flows into the impact market. It also addressed pooling impact investment strategies and techniques to optimize financial, as well as social and environmental returns, while reducing risk exposure.

    The sustainable investment market, largely dominated by negative screening and ESG integration strategies for public equities, is slowly transitioning to impact investment with a dual bottom line of positive societal and financial returns. This is driven by private capital and “early entrant” family offices with a long term investment horizon, aligned with the UN Sustainable Development Goals. 


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