ALLCOT Colombia, as an associate of ASOCARBONO, actively participated in the I TRADE-UNION EVENT 2019

On Wednesday, April 10, the first trade-union event of the Colombian Association of actors of the carbon market (ASOCARBONO) took place. In this first meeting we worked on the premise of generating a “Participation Process for the Construction and Strengthening of ASOCARBONO.” The commitment, interest and enthusiasm of the associates were protagonists, which will allow us to face the challenges and opportunities that we have to future.

“The commitment of reductions of GHG emissions from Colombia to 2030, is APPROXIMATELY equivalent to 670 million tons of CO2 equivalent throughout the period 2015 – 2030”

The contents of each of the exhibitions are presented here:

  1. MINISTRY OF ENVIRONMENT AND SUSTAINABLE DEVELOPMENT

Camila Rodríguez, Mitigation Coordinator of the Climate Change office of the Ministry of Environment and Sustainable Development, presented the current state of market regulation and the regulatory process of the Climate Change Law (Cap and Trade).

Key messages of the presentation:

  1. Take into account the differences and objectives of the regulatory instruments that give signals of pricing and market VS technical carbon accounting instruments.
  2. Importance of the consistency of carbon accounting under the different instruments towards national GHG mitigation goals.
  3. Need for harmonization of instruments (taxes, fees, ETS) towards national GHG mitigation targets.
  4. ICONTEC, VERRA and ONAC were in charge of the audit of carbon projects and the role of the standards entities and the OVV.

During the presentation of ICONTEC, the Legal Framework for the validation and verification of carbon projects in Colombia was mentioned, remembering that these processes, for mitigation initiatives, must include the requirements of Resolution 1447, taking into account the construction of the baseline, additionality and the report of the project status to RENARE, without neglecting, that must be formulated and the document finished before requesting the validation.

  1. ICONTEC, VERRA and ONAC were in charge of the audit of carbon projects and the role of the standards entities and the OVV.

During the presentation of ICONTEC, the Legal Framework for the validation and verification of carbon projects in Colombia was mentioned, remembering that these processes, for mitigation initiatives, must include the requirements of Resolution 1447, taking into account the construction of the baseline, additionality and the report of the project status to RENARE, without neglecting, that must be formulated and the document finished before requesting the validation.

VERRA presented the current status of projects registered in VCS in Colombia, where it is evident that there are about 30 projects registered, of which 60% are focused on agriculture, forests and land use, so there is an annual estimated emission reduction by an approximate value of 11 million tons.

For its part, ONAC, the National Accreditation Body of Colombia, emphasized the trust it represents for third parties in relation to the processes that must be accredited in the future for the validation and verification of carbon projects in the country.

Emissions Trading System – CAP AND TRADE

Econometría. He stated that both the Carbon Tax and the Emissions Trading System, SCE, are complementary instruments that will allow incorporating the externalities of GHG emissions into the economy; In addition, it was evident that the implementation of an SCE is not simple and has some steps that must be followed to guarantee the greatest benefit for society. The Climate Change Law is the starting point for the implementation of the SCE, a process that is just beginning and for which it has two and a half years, from now on, for its regulation.

ALLCOT

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