Climate Action

Carbon market experts gather to discuss emissions trading systems worldwide

Cathedral and Florence town

Carbon market experts from around the globe gathered yesterday for a workshop in Florence, Italy, to exchange experiences from emissions trading systems put in place by different countries and regions.

The Carbon Market Workshop, organised by the European Commission and European University Institute,  brought together senior policy makers from carbon markets worldwide – California, Canada, China, EU and New Zealand – as well as stakeholders from the academic, industry and NGO sectors.

The participants discussed and exchanged experiences from the design and implementation of emissions trading, also acknowledging the future potential of carbon markets as countries move to implement their Nationally Determined Contributions (NDCs) under the Paris Agreement.

Jos Delbeke, Director General of the European Commission's Directorate-General for Climate Action, said: "Carbon markets can play a key role in reducing global greenhouse gas emissions cost-effectively. We are pleased to see the increasing uptake of emissions trading around the world, as this can help us on our path towards achieving the goals of the Paris Agreement."

The workshop was held within the framework of the LIFE SIDE project co-funded under the EU's LIFE Programme. Since September 2016, the LIFE SIDE project is supporting policymakers with the implementation of the EU ETS. LIFE SIDE is managed by the climate group of the Florence School of Regulation at the European University Institute in Florence.

The main objectives of the project are to collect and disseminate empirical knowledge and information on the economic functioning of the EU ETS, establish a network bringing together EU ETS experts, and create a forum enabling interaction amongst policy makers, stakeholders and EU ETS experts.

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