Workshop

Workshop: Wednesday, January 14 – program

About the workshop sponsor - Environmental Markets Association (EMA)

Introduction to Emissions Trading workshop: Wednesday, January 14

8:30 Introduction: What it means to put a price on pollution

8:45 Module 1: Conventional SO2 & NOx market basics
• Command and control (and its return in SO2 & NOx markets)
• The cap-and-trade precedent: lessons learned thus far

9:15 Module 2: Conventional market fundamentals – what’s happening in SO2 & NOx markets
• Credit-based systems
• Offsets
• US Acid Rain Program
• OTC and SIP NOx markets
• RECLAIM
• Proposed successor programs (CAIR, CAMR, and their legal issues)

10:15 Coffee break & networking

10:30 Module 3: Emissions trading simulation
• Hands-on, computer-based team exercise

12:30 Lunch & networking

1:30 Module 4: Emerging market GHG basics
• How a carbon price will re-shape world economies
• Earth Summit and the UNFCCC
• Kyoto Protocol
• Subsequent accords and the prospects for Kyoto Post-2012

2:15 Module 5: Emerging market fundamentals – what’s happening in GHG emissions markets
• EU ETS developments
• International offset markets (JI and CDM)
• US – Federal regulatory discussions
• US – regional market formation (RGGI, WCI, etc.)
• Voluntary programs (Chicago Climate Exchange, Gold Standard and others)

3:15 Coffee break & networking

3:30 Module 6: The business of Trading I – emission contracts
• Master allowance agreement
• Key elements of a GHG contract

4:15 Module 7: The business of Trading II – portfolio risk management basics
• Basic terminology
• A brief introduction to options

About the workshop sponsor - Environmental Markets Association (EMA)

The Environmental Markets Association (EMA) is the premiere trade association for environmental industry professionals who are active or interested in market-based solutions to combat pollution and create a sustainable environment. The EMA’s members are the most knowledgeable and experienced individuals who are
making environmental markets work. They include brokers, traders, consultants, academics, non-governmental organizations, government agencies and the founders of emissions trading. The EMA is a 501(c) 6 not-for-profit organization that serves its membership through education and networking.