Government of Colombia awarded first COP24 Carbon Pricing Champion Award
The International Emissions Trading Association and the Climate Markets and Investment Association presented the Carbon Pricing Champion Award to the Republic of Colombia, sponsored by ALLCOT Group and CRX. The award was presented to Ricardo José Lozano, Colombian Minister of Environment and Sustainable Development.
The award recognises the the leadership of the Colombian government in the promotion of carbon pricing and offsetting as instruments to address climate change.
“IETA is delighted to recognise yet another country using market mechanisms to advance the goals of the Paris Agreement,” said Dirk Forrister, CEO of IETA. “Since the Agreement was signed, we are seeing significant growth in emissions markets.”
“This award recognises how government policy is helping to drive technological advances, by incentivising innovation and investment in low-cost abatement projects,” said Margaret-Ann Splawn, Executive Director of CMIA. “This is what carbon pricing using market mechanisms is all about.”
The government of Colombia, led by the Ministry of Environment, has made a significant effort to promote robust accounting, environmental integrity and transparency to avoid double counting.
This has increased confidence in market-based instruments as one of the options to support mitigation action for achieving Nationally-Determined Contributions.
IETA and CMIA’s award is also intended to highlight Colombia’s work on a full regulatory package that includes a domestic offsetting program for the country’s carbon tax (Decree 926/2017), and a regulation on monitoring, reporting and verification (Resolution 1447/2018) which is based on registry, accounting and additionality aspects.
IETA and CMIA thanked sponsors ALLCOT Group and Climate Resources Exchange for supporting the Carbon Pricing Champion Awards.
“In the crucial times, we wanted to support leadership in the carbon markets development, reason for which we decided to sponsor this prize promoted by IETA and CMIA. We are very proud to be part of this initiative and rejoice that the Colombian government won this well deserved award. Colombia initiatives have set a landmark precedent which we hope will find hecho throughout the Americas.”, said Alexis Leroy, CEO and Founder of ALLCOT.
Dirk Forrister, Chief Executive Officer and President of International Emissions Trading Association; Sebastian Carranza, Specialist, Ministry of Environment and Sustainable Development of Colombia; Ricardo Jose Lozano, Minister of Environment and Sustainable Development of Colombia; Margaret-Ann Splawn, Executive Director of Climate Markets and Investment Association; Alexis L. Leroy, CEO and Founder of ALLCOT Group and Tommi Neuvonen, COO, ALLCOT Group were in the event (photo from left to right).
ABOUT THE CARBON PRICING CHAMPION AWARDS:
CMIA and IETA launched the Carbon Pricing Champion Awards at the Paris COP in 2015. Over the last three years this award has recognised California, Ontario, Quebec, New Zealand and Chile for their progress on market-based instruments to address climate change.
ABOUT INTERNATIONAL EMISSIONS TRADING ASSOCIATON:
IETA is the voice of business on carbon markets around the world. Established in 1999, IETA’s members include global leaders in the electricity, oil/gas, cement, aluminium, chemical, mining, technology, standards, verification, broking, trading, legal, finance, accounting and consulting industries.
ABOUT CLIMATE MARKETS & INVESTORS ASSOCIATION:
CMIA is a non profit trade association with the mission to stimulate a shift in the direction and scale of private and public financial flows into investments which are consistent with the objectives of the Paris Agreement.
ABOUT ALLCOT GROUP:
ALLCOT develops, manages and trades in all sectors related with climate change mitigation. The company is a leader in greenhouse gas (GHG) emissions, management tools and strategies for businesses of all sizes.
ABOUT CLIMATE RESOURCES EXCHANGE:
CRX offers services in engineering consulting & carbon consulting. These include energy efficiency projects, carbon profiling, carbon offsets, sustainability reporting, renewables project origination and corporate social strategising.