On April 24, 2009 at Hotel Jalta in Prague, Czech Republic, I joined a panel of prominent speakers including Henry Derwent (IETA), Nasrine Amzour (UK DEFRA), and Norio Suzuki (Mitsubishi) to talk about “Climate change: Implementing a coordinated response in Central Europe and around the globe.” In my presentation, I discussed the potential, outlook and obstacles of linking the EU Emissions Trading Scheme with other emissions trading systems, not only under the Kyoto Protocol but also with regards to new, quickly emerging markets including Australia and Japan.
Paying special attention to recent legislative developments in the United States, I shed light on the differences between EU and US approaches to allocating allowances, domestic and international offsets, as well as provisions for credits from Reduced Deforestation (RED). “In both the EU and the US, we tend to forget that employing a specific approach to these key issues today does not only have immediate consequences there – but it will enhance or reduce our ability to harmonize and ultimately link both systems.”
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