September 28, 2020

Spain defends "credible" and uniform carbon markets in the world



The Spanish Minister for the Ecological Transition, Teresa Ribera, stressed today the importance of having a carbon trading system that is "credible and robust" and that this system is uniform throughout the world.

Ribera, in statements to journalists at the headquarters of the COP in Madrid, recalled that the Chilean Presidency of the event has convened the plenary of the Conference for 00.30 local time (23.30 GMT) and that it will be time to check "the level of maturity "of the negotiations.

"We will check if there is agreement and ability to integrate the different pieces of decisions or if, on the contrary, the Presidency still has open issues on which it wants to continue working," said the Spanish head of the Ecological Transition.

The main pitfalls are still the rules that must be applied to emissions trading systems worldwide, he explained and specified that it is necessary to define how emissions with which it was traded under the Kyoto Protocol umbrella are transferred to units with they could be traded under the Paris Agreement.

"There is a principle that is sacred for the EU and for most of the countries that we trust to have robust systems," he said and explained that this principle is that "a ton of emitted carbon dioxide is measured and weighs the same in anywhere in the world that is issued. "

Ribera stressed that it is important, therefore, that the international community be endowed with rules of the game that avoid "double accounting" and that the ton can be computed "because it has been bought or sold or because it is part of the contribution of a country , but I can't compute in both places. "

"There are countries that see this with a little more lightness and others that want to be very strict because if the credibility of those commercialized units and the system itself would not collapse," Ribera said and noted that some are very happy thinking they can sell a lot, but if they are not credible, it will be worth nothing. "

He also cited the differences that exist regarding the percentage of money generated by these exchanges goes to the Climate Change Adaptation Fund.

How the greatest climate ambition of each country from 2020 is reflected, or how the response of many countries to evaluate what the industrialized countries have done before that year are also issues that differentiate the parties in the final stretch of the Conference, explained the minister.

. (tagsToTranslate) Spain (t) defends (t) credible (t) uniform markets (t)



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