Sustainable Developments |
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 Wednesday 29 August 2001:
 The 5th UNCTAD/Earth Council Policy Forum on Trade and Climate Change opened on Wednesday, 29 August, in Rio de Janeiro, Brazil. Delegates met in the afternoon for Special Events. In the evening, delegates were given a welcome reception hosted by the UNCTAD, Earth Council and IETA. Left photo: Maurice Strong giving his welcoming remarks during the reception. 
Listen to Maurice Strong's welcoming address |
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| Welcoming Address: | ||||
  Listen to the welcoming address of Rubens Ricupero, UNCTAD Secretary General (right) and Paulo Protasio, IETA (left) |
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| Special Events: | ||||
Training Initiative on the Kyoto Protocol Mechanism:  Stephanie Foster (left), Earth Council Institute, highlighted the Earth Council's long collaboration with UNCTAD and introduced the session on the UNCTAD/Earth Council's GHG Emissions Trading Manual. |
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 Douglas Russell (left), Global Change Strategies International Inc., gave an overview of the manual. He noted the purpose is to provide a comprehensive but user-friendly reference tool, to assist trainers and facilitators in design and delivery of their training programs and to provide training and capacity building. Target audiences are public sector officials, private sector parties, journalists, consultants and the public. |
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 Gao Pronove, UNCTAD (right), described the manual as comprehensive but simple. He said the next step is to get it to the people who need it. On building the training programme, Pronove highlighted the need to develop targeted policy and technical courses and implement a strategy of live and on-line mediated courses for the private and public sector. Next steps would include building a network of training providers, sharing of methods and building a global library of courses. |
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 Moderator Lucas Assunção (left), UNCTAD, responded that the objective is to build a buyer and seller market and cover the mechanisms consistent with Kyoto political agreements. |
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| Risk and Insurance in the GHG Market: | ||||
 This special event took place at the headquarters of FENASEG (National Federation of Insurance Companies). Andrei Marcu (left), IETA, and Joao Elisio Ferraz, FENASEG, co-chaired the event. Andrei Marcu noted that insurance companies have a key role to fulfill in mitigating the various risks of the emerging GHG market. These risks extend to developing countries as well as the Clean Development Mechanism is aimed at including such countries in the GHG market, and some of the liability may be transferred to the seller of Certified Emissions Reduction Credits (CERs). |
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 Jorge Barrigh (left), Corporacion Andina de Fomento (CAF), introduced the Latin American Carbon Programme (PLAC). The CAF traditionally supports infrastructure projects in the Andean countries, but recently has started to include carbon considerations in its project design. |
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 Edward Sankey (left), MMC Enterprise Risk and Marsh Ltd., provided a perspective from the insurance industry on the types of project risks associated with the GHG market. |
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| Practical issues associated with implementing the CDM: | ||||
 This event, chaired and organized by Corinne Boone (below), CO2e.com, aimed to improve practical understanding of CDM-related issues. Boone introduced the session and noted, inter alia, CO2e.com's goal of developing an effective market, and its products and solutions. 
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 Carlos Martins, EcoInvest (left), spoke on financing issues and investment experiences around the CDM. He noted that environmental soundness, social responsibility and economic soundness are the key aspects investor are looking for . |
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 Sergio Vives, of Urquidi, Riesco, Ramirez & Compañia (left), addressed legal questions for the developers of CDM projects. Focusing on the national framework of the host country, he said elements to address under the environmental legal framework are an environmental impact study and the liability regime. |
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 Paul Vickers, TransAlta Corporation (left), noted TransAlta's gross CO2 emissions are growing from 40 to 80 million tonnes per year and their need to acquire emissiojn reductions from others. Stressing his comments would be from the perspective of an entity interested in entering into long term purchase arrangements, he said TransAlta is operating strategically on the basis that the Kyoto Protocol will not come into force. |
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 Marcelo Carsalade, Brasimport (left), spoke on infrastructure issues associated with facilitating CDM CER exports. He stressed that for Brazil to compete, they need effective internal rules. Otherwise an environment of uncertaintywill divert flow of capital to host countries with stable and consistent rules. |
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 Warwick
Manfrinato, Cepea (left), commented
on reviewing of CDM projects in Brazil. Highlighting relevant steps toward
the formation of an international carbon market, he noted the current
"grey market" which is a carbon market in development that is, inter
alia, not formal, without official rules, and without legitimate
rights.
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 Paulo Braga, Ecosecurities (second from right), highlighted Ecosecurities' background and track record. He then gave an overview of Ecosecurities' ongoing projects to mitigate GHG emissions in Brazil. Left photo: The dias during the session on CDM |
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| Business Council for Sustainable Development (BCSD) Brazil: Portfolio of Climate Change Projects in Brazil | ||||
 This special event was organized by representatives from the Business Council for Sustainable Development (BCSD) Brazil to discuss the potential for CDM projects here. Given Brazil's enormous resources, the panelists concluded that ample opportunity exists for such projects. Various Brazilian companies were represented at the event, including Petrobras, the Brazilian energy company, British Petroleum |
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| Welcome Reception: Hosted by UNCTAD, Earth Council and IETA | ||||
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Photos from the reception (clockwise): Paul
Vickers, TransAlta (far left) in discussions with delegates, Private
sector delegates from Indonesia, Delegates mingling during the reception,
Rubens Ricupero with Gao Pronove (center) and Lucas Assunção
during the reception, Maurice
Strong and John Drexhage, IISD in a light discussion during reception.
Hon. Gilbert Parent, Canadian Environment Ambassador with Mrs. Parent
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  International
Emissions Trading Association |
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 United
Nations Framework on Climate Change web site: UNFCCC
COP6-bis web site |
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| Earth
Negotiations Bulletin's coverage of UNFCCC COP6-bis |
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