A Guide to Emissions Trading

Book description

• Advises on all aspects of emissions trading to help you:
• Design better internal procedures to monitor emissions
• Assess the legal risks of emission trading and emission reduction projects
• Forecast for future emissions
• Incorporate emissions into your accounting and risk management systems
• Analyse the benefits and risks of joint implementation and clean development projects
• Make better investment and production decisions taking emission risk into account
• Global approach discusses solutions to the Kyoto Protocol, the forthcoming EU Emission Trading Scheme, the US Acid Rain Program and others
• Presents market experiences from around the world including contributions from industry and academia’s foremost market leaders - in one timely, cohesive and practically focused volume

Book details

ISBN

9781906348564

Publish date

1 Jun 2004

Format

Size

155mm x 235mm

Editor biography

Kasper Walet and Cyriel de Jong

Kasper Walet is founder and president of Maycroft Consultancy in Amsterdam, the Netherlands, since 1997. For Maycroft Kasper worked on the initiation of the Amsterdam Power Exchange and advised many of the leading energy companies in European, CEE and Asian countries. Kasper holds a Master degree in Law from the University of Utrecht. Before founding Maycroft Kasper was Board member of the Agricultural Futures Exchange in Amsterdam. While leading the exchange Kasper became an expert in all the aspects of commodity markets, the international sales and marketing of financial services, derivatives and risk management.

Cyriel de Jong is currently a research director at Maycroft and assistant professor at the Rotterdam School of Management, Erasmus University. Cyriel graduated cum laude in econometrics at Maastricht University in the Netherlands and worked for De Nationale Investeringsbank NV. He completed a PhD thesis on financial derivatives and has several years of experience as a consultant in energy markets. Recently, Cyriel published on energy risk management issues in Managing Energy Price Risk , Energy Power Risk Management and Commodities Now .

Table of contents

CONTENTS

Introduction

Cyriel de Jong, Erasmus University Rotterdam; Kasper Walet, Maycroft

Section 1: The Emissions Framework

1 The Kyoto Protocol

Jos Cozijnsen, Cozijnsen Consulting

2 International Emissions Trading: the Legal Context

Christopher Norton, Anthony Hobley and Anna McCann, Baker McKenzie

3 Critical Elements of a Market-Based Environmental Control Program

Josh Margolis, Cantor Fitzgerald Brokering; A. Kruger, CF; Curt Kaminer, Millennium Environmental Group

4 Joint Implementation and Clean Development

Veronique Bovee, Michiel ten Hoopen, Ecosecurities

5 Joint Implementation and Clean Development - Cases

Veronique Bovee, Michiel ten Hoopen, Ecosecurities

Section 2: Financing and Risk Management

Introduction

Cyriel de Jong, Erasmus University Rotterdam; Kasper Walet, Maycroft

6 Monitoring, Verification and Accounting of Emissions

Gareth Phillips, SGS

7 Financing Issues in Abatement Projects

Josef Janssen, Emissions Trading Solutions St. Gallen

8 Financing Joint Implementation and CDM Projects

Frank Joshua and Karen McClellan, Climate Investors

9 Trading Instruments and Risk Management

Steve Drummond, CO2e

Section 3: Investment and Production Implications

Introduction

Cyriel de Jong, Erasmus University Rotterdam; Kasper Walet, Maycroft

10 Emissions Trading and Investment Decisions

Cyriel de Jong, Erasmus University Rotterdam; Kasper Walet, Maycroft

11 Compliance strategies in the US Acid Rain Program

Cyriel de Jong, Erasmus University Rotterdam; Kasper Walet, Maycroft

12 Investment Case Study: valuation with real options

Cyriel de Jong, Erasmus University Rotterdam; Kasper Walet, Maycroft

Section 4: Trading experiences and outlooks

Introduction

Cyriel de Jong, Erasmus University Rotterdam; Kasper Walet, Maycroft

13 Lessons from Trading Simulations

John Scowcroft and Vasco Janeiro, Eurelectric

14 The European Emissions Trading System

Cyriel de Jong, Erasmus University Rotterdam; Kasper Walet, Maycroft

15 The UK Emissions Trading Scheme

Tim Jackson; Frauke Roeser, University of Surrey

16 Canada and Japan

Dirk Forrister, Makoto Katagiri and Doug Russell, Natsource

17 Central and Eastern Europe

Camilla Taylor, Vertis Finance

18 Australia and New Zealand

Brett Janissen, Allen Consulting

19 What Determines the Price of Carbon?

Atle Christer Christiansen, Andreas Arvanitakis and Per-Otto Wold, PointCarbon

20 Climate Change and Climate Awareness - A Critical Note

Robert S. Dischel

Testimonials

“A Timely contribution to the international debate on emission trading, a new and forceful instrument for dealing with climate change.“

Joke Waller-Hunter, Executive Secretary, UNFCCC

“A useful guide on emissions trading which will really help to deliver the ambitions of the Kyoto Protocol. Drawing on a wide range of international experience it shows practitioners and policy makers how market trading can help to achieve environmental targets.“

Rick van der Ploeg, European University Institute, Florence