TODAY’S NEW AND DEVELOPING CARBON MARKETS
Around the globe, initiatives to price carbon, including cap-and-trade systems, are proliferating at a rapid pace. The Development of carbon markets, including potential new markets, market mechanisms, and market participants is occurring at an almost dizzying rate.
Join The University of Toronto’s Environmental Finance Advisory Committee for a lively and comprehensive update on all of these developments and more in Canada and elsewhere.
Date: Friday, June 3rd, 2016
Registration: $49.00 plus HST. Register on Eventbrite HERE
Event Time: 8:30 a.m. to 5:00 p.m. Registration begins at 8:00 a.m.
Where: Torys LLP, 79 Wellington Street West, 33rd Floor, TD South Tower, Toronto
Refreshments: A light breakfast will be available from 8:00 a.m. Lunch is also included.
8:00 a.m. – 8:25 a.m.
Breakfast and Registration
Day Moderator:
Patricia A. Koval, Partner, Torys LLP
8:25 a.m.
OPENING REMARKS
Gray Taylor, Gray Taylor Law
8:30 a.m. – 9:30 a.m.
THE PARIS DEAL AND CANADA
- Status and developments since December 2015.
- What does it really mean for carbon markets? For finance?
- How will the Kyoto offset mechanisms and the work done to develop and administer those programs potentially factor in implementation of the new agreement?
- What is Canada’s role in the international process now? Canada’s NDC: What does it mean and how will Canada rely on markets to meet its climate target?
- Status of the Federal efforts to put a price on carbon (overview).
Katie Sullivan, Canadian Director, IETA
9:30 a.m. – 10:30 a.m.
PRIORITY INTERNATIONAL MARKETS
- Status of the EU ETS and EU 2030 climate and energy targets.
- The California carbon market – status and outlook?
- Regional Greenhouse Gas Initiative (RGGI) – status and outlook?
- U.S. Federal – status and outlook? Other U.S. States?
- China – cap-and-trade pilots and plans for a national Chinese cap-and-trade system.
- Other market updates.
MORNING BREAK
10:30 a.m. – 10:50 a.m.
Barbara Hendrickson, BAX Securities Law
10:50 a.m. – 11:50 a.m.
CANADA’S EXISTING CARBON MARKETS
- Overview of Canadian Markets including role of Federal Government Initiatives.
- Updates on the Provinces – Quebec, Alberta, BC, Manitoba and Saskatchewan.
- Where is the trading occurring in Canada – regulated and OTC.
- Regulation of Canadian carbon markets – interaction of environmental compliance regimes and securities and commodities regimes.
Morning Wrap-Up
11:50 p.m. – 12:15 p.m.
- Question and Answer Session
LUNCH
12:15 p.m. – 1:15 p.m.
Patricia A. Koval, Partner, Torys LLP
1:15 a.m. – 2:15 p.m.
ONTARIO’S NEW CAP AND TRADE SYSTEM
- Status – Timing of the legislation and regulations.
- Overview of its intended operation and issues that we can expect to see.
- Status of development of the offset protocols and offsetting generally.
- When will linking with Quebec and California occur?
Rob Wilson
Director, Carbon Finance
Nature Conservancy of Canada
2:15 p.m. – 3: 15 p.m.
THE VOLUNTARY AND PRE COMPLIANCE MARKETS FOR OFFSET CREDITS IN CANADA
- How are the voluntary markets operating in Canada? Status, standards and processes?
- The special case of forestry offsets – what is happening across Canada.
- The growing importance of “co-benefits”.
- Key carbon offset project design considerations and examples.
- Transforming early action and other voluntary offsets into compliance offsets.
AFTERNOON BREAK
3-15 p.m. – 3:30 p.m.
Julie Desjardins, Director, Reporting & Capital Markets Research, Guidance & Support
Chartered Professional Accountants of Canada
3:30 p.m. – 4:30 p.m.
CARBON AND THE CAPITAL MARKETS: GOVERNANCE, ACCOUNTING, TAX TREATMENT AND DISCLOSURE
- Update on Federal income tax proposals, commodity tax experience and Canadian accounting protocols and developments.
- Developments in climate and carbon risk disclosure, including current initiatives in Canada and the U.S.
- Governance considerations in the new low carbon economy.
Afternoon Wrap-Up
4:30 p.m. – 5:00 p.m.
Question and Answer Session
