CEPS Task Force

CEPS Carbon Market Forum

New Market Mechanisms under the UNFCCC


The CEPS Carbon Market Forum Task Force on New Market Mechanisms under the UNFCCC is the first initiative of the CEPS Carbon Market Forum, a three-year umbrella programme for carbon market-related activities, which will provide a neutral space where policy-makers and regulators can meet carbon market stakeholders to discuss carbon market regulation, and general policy issues. The CEPS Carbon Market Forum is headed by Andrei Marcu.

COP 17 in Durban has adopted the text proposed by the AWG-LCA on “Various Approaches, including New Market Mechanisms” which decided that:
a.  The COP defines “a new market mechanism operating under the guidance and authority of the COP.
b.  Parties may … develop and implement such approaches in accordance with national circumstances.” The text (para 73) also speaks of the fact that “various approaches, including the opportunity for using markets … must meet standards that deliver real, permanent, additional and verified emissions reductions”. Para 74 refers to a “work programme to consider a framework for such approaches”.

The following process is currently envisaged for this TF, and will be discussed with the Membership and the Advisory Committee:
• a submission will be made by the 25th of March 2013 to the SBI, in prepapration for the 38th SBSTA meeting in Bonn this June
• A synthesis of the different submissions will be compiled before the meeting mentioned below
• Full-day meeting: 26th of April 2013 (agenda forthcoming)
• Provide input and continued dialogue in the run up to the CoP19 in Warsaw, including the SBSTA 38 (Bonn) and the SBSTA 39 (Warsaw)
• Participate in workshops related to NMM and FVA organised by the secretariat of the UNFCCC
• Continuation of the TF process

Chair: Pedro Martins Barata, former Lead Negotiator on Mechanisms for the EU and a former member and vice-chair of the CDM EB

Rapporteur: Andrei Marcu, Senior Advisor and Head of the CEPS Carbon Market Forum



Marcu, A. (2012) A Framework for Various Approaches under the UNFCCC: Necessity or luxury? Submission to the Ad Hoc Working Group on Long-term Cooperative Action under the Convention AWG-LCA), 5 October.

Marcu, A. (2012) Expanding Carbon Markets through New Market-based Mechanisms: A synthesis of discussions and submissions to the UNFCCC, CEPS Special Report, 2 May.

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Christian Egenhofer

Associate Senior Research Fellow