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5th UNCTAD/Earth Council
Policy Forum on Trade and Climate Change (Rio Policy Forum):
The State of the Greenhouse Gas (GHG) Market
29-31 August
2001, Rio de Janeiro, Brazil
Update for Friday 31 August 2001:
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Panel Discussions: |
The State of the GHG Market: Views of GHG Offsets Exporting Countries |
Views from the Public Sector: |
![]() This session, moderated by Frans van Haren (right), Earth Council Institute, addressed what is happening and being done in export countries regarding GHG offsets, how developing countries are preparing for the emerging GHG market, and what can be done to enhance the capacity of export countries. Van Haren said those expected to provide the environmental services are in the drivers seat and will play a central role. |
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Jan Pretel, Czech Hydrometeorological Institute, shared his views on the introduction of a domestic GHG market in the Czech Republic. Implementing an emissions trading scheme in an Economy In Transition (EIT) is different from an emissions trading scheme in developed economies. |
![]() Jose Villarin (left), Climate Change Information System, Philippines, concluded that much desk work has been done to prepare his country for the emerging GHG market. One main goals of the Philippines is to establish a framework for CDM projects, starting with identifying types of projects, set up the operational and legal framework, institutionalize access to information, and finally executing projects. |
![]() Richard Muyungi (left), Vice Presidents office, Tanzania, spoke on potential for investing in LDCs. He highlighted the geographical location of LDCs and noted their preoccupation with immediate problems such as poverty eradication, employment generation, and HIV/AIDS. Muyungi said lack of infrastructure/capacity is a key feature and stressed the private sector hardly knows about GHG trading. |
Jean Acquatella, CEPAL, examined how the size of the future GHG market would vary with and without the participation of the United States. In general, the projected size of the market is very large, but when a large potential buyer such as the United States pulls out, an imbalanced supply and demand will result. |
Views from the Private Sector: |
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![]() Ms. Hyo-Sun Kim, Korea Gas Corporation, stated that 80 percent of the GHG are generated by the energy sector, even as natural gas is expected to increase its share of primary energy consumption to 15 percent by 2020. Korea expects to become an exporter of offsets. ![]() |
Fernando Almeida, Brazilian Business Council on Sustainable Development, spoke on how the Kyoto Protocol can contribute to the goal of sustainable development in his country. There are many disenfranchised people in Brazil, and CDM projects must benefit them in addition to generating offsets. |
Mauricio Reis, Companha Vale do Rio Doce, is one of Brazil's largest companies, and is one of the founders of the Brazilian Business Council on Sustainable Development. On carbon sinks projects, particularly in the sensitive Amazon region, projects must contribute to the comprehensive set of environmental, social and economic goals. It must benefit as many people as possible. Just selling some offsets is not in the interest of the Brazilian people. |
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Eduardo P. Carvalho, UNICA, spoke on sugar cane energy and green house gas reduction. He highlighted Brazil's production and consumption of fuel alcohol. Carvalho said sugar cane is an energy engine and is perhaps one of the most efficient energies in the world. He underscored the potential of sugar and alcohol production to reduce CO2 emissions and said the CDM will enhance this potential. |
Pablo Mandeville, UNDP, outlined numeric elements of a study on implications of the Bonn Agreement on the carbon market and the CDM in Latin America. The analysis projected a decline of 40 – 55 percent in demand if the United States would indeed withdraw from the Kyoto Protocol. |
Market Makers: |
![]() On Friday afternoon, a market makers panel, moderated by Sergio Besserman (right), National Institute of Statistics and Geography (IBGE), looked at what funds and other market actors are doing to develop the GHG market/s. The IBGE has been charged with establishing an inventory of GHG in Brazil, and will play a role in the dissemination of information about GHG emissions. Only recently has the organization become involved in collecting and disseminating environmental data, and this has presented its own set of challenges. |
![]() Francisco Hoyos, Fondelec, explained that his company is a private equity investment firm focused on the use of clean energy, energy efficiency, and GHG emission reductions. |
![]() Teobaldo Leal, Banco do Nordeste, signaled that the market in Northeastern Brazil will open up for eco-investments in the near future, a densely populated and economically diversified region of Brazil. |
![]() Isaura Frondizi, National Development Bank (NDB), explained her bank's role in the environmental field in Brazil. The bank assists the Inter-ministerial Committee on Climate Change, the main vehicle for climate change policies, on financial aspects. |
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Concluding Panel: |
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