IETA Fall 2009 Symposium | International Emissions Trading Association

Post Date:

October 15, 2009 - 5:00pm

Date & Time:

November 3, 2009 - 9:00am - 5:45pm

Time Zone:

Washington (GMT -5)

Location:

Washington, DC, USA

"Why Cap and Trade Works for the U.S. Economy; Fundamentals of Current Legislation, Copenhagen and Beyond"

The International Emissions Trading Association (IETA) believes that a well designed federal cap and trade system designed to reduce greenhouse gas (GHG) emissions can play an important role in transforming the U.S. energy system to meet national climate change goals. Simply put, a trading system will be the most efficient and cost-effective means of transitioning to a low-carbon economy. It is the right model, the model that works best for the environment and the economy. Significantly, U.S. policymakers enjoy the advantage of building on the experiences and successes of prior GHG trading systems in designing a U.S. GHG trading program. These prior examples demonstrate that a well designed cap and trade program provides better environmental and economic outcomes than other policy instruments, such as carbon taxes or more traditional forms of regulation.

As with any policy, but more so with policy affecting large scale environmental issues, policy design choices can limit the effectiveness of the emissions trading program and increase the costs to industries and their customers. This Symposium will host a forum of leading economists, with experience in analyzing existing emissions markets in the U.S. and abroad, to review the fundamental elements of proper market design for a federal carbon trading program – and for them to assess the strengths and weaknesses of congressional proposals in terms of market formation and operation. Second, there will be a roundtable led by experienced market professionals who will discuss their views regarding the impact of proposed policies on market performance – and the potential ways policy can be improved in order to meet environmental and economic objectives more effectively. Finally, it will review the key issues for business, particularly carbon markets, in the upcoming Copenhagen Climate Summit.

II. Agenda

9:00 – 10:00	Registration and Continental Breakfast
10:00 – 10:10	Assembly and Chair's Introduction:
	Henry Derwent, President & CEO, IETA
(For the following sessions, there will be 15 – 20 minutes at the end allotted for questions and answers)
10:10 – 11:00	Release of IETA Working Paper: “Economics of Greenhouse Gas Trading – Reaching Goals Cost Effectively”
	Presenters & Authors:	Bruce Braine, American Electric Power Ben Feldman, JP Morgan
11:00 – 12:00	Keynote & Commentary: Review and Evaluation of Fundamental Design Elements of Congressional Proposals on Carbon Market Development
	Presenters	Dr. David Harrison, NERA Dr. Denny Ellerman, Cambridge
	Topics: Identify the fundamental elements of carbon market design, drawing upon earlier emissions trading markets as appropriate Assess the House passed legislation and Senate proposals for their potential effectiveness in meeting emissions targets at the lowest cost Highlight the compliance alternatives available for containing costs – and how they would work in practice Recommend improvements to the House bill and Senate proposals that would better achieve environmental and economic objectives
12:00 – 12:55	Carbon Markets' Executive Roundtable: Market Impacts of Congressional Proposals & Outlook for Copenhagen
	Moderator:	Henry Derwent, President & CEO, IETA
	Discussants:	Bill Tyndall, Duke Energy Jack Cogen, Natsource Andrew Mingst, Chevron
	Topics: The most important components of the proposed policies in establishing a well-functioning U.S. carbon market How the U.S. carbon market would likely evolve under the proposed policies Identify potential improvements in pending legislation that could make the U.S. market function more effectively, in both domestic and international contexts How Copenhagen (COP-15) might affect the development of the U.S. market – and be affected by the U.S.’s policies, and how co-benefits will flow between different markets and regions
1:00 – 1:25	Closing Keynote
	Gary Gensler, Chairman, Commodities Futures Trading Commission
1:25 – 1:00	Chair's Summary
	Summarization of key conclusions; IETA will issue a written summary and disseminate

IETA Fall Syposium - FINAL REPORT.pdf

Nov3-2009 IETA Symposium Agenda.pdf

Economics_GHG_Trading_PerspectivesPaper_IETA-Symposium2009.pdf

Economics_GHG_Trading_PerspectivesPaperSlides_IETA-Symposium2009.pdf

IETA_Economics_GHG_Trading_Ellerman_Presentation.pdf

IETA_Economics_GHG_Trading_Harrison_Presentation.pdf