Australian companies to benefit from carbon market-focused international alliance

Global emissions trading organisation, the International Emissions Trading Association (IETA) and Australia’s leading industry body for carbon market professionals, the Carbon Market Institute (CMI), are excited to announce a strategic alliance between the two membership-based organisations.

“It has never been more important for Australian companies to understand changes in the international policy environment, particularly with recent developments in Europe that will impact the future carbon price in Australia,” CMI chief executive officer Peter Castellas says.

“The alliance will bring IETA’s deep insight of global emissions markets and CMI’s intimate understanding of the Australian scheme together to create more informed dialogue and transfer business intelligence to Australian companies, and CMI members in particular,” says Castellas.

IETA president and chief executive officer Dirk Forrister says that IETA is deeply connected in every key international market where emissions trading and climate markets are evolving. “Forming an alliance with CMI adds significant value to our market development activities down under,” he says.

“IETA has a long-established relationship with CMI through a cooperation agreement with the former Asia-Pacific Emissions Trading Forum from which CMI was seeded,” says Forrister. “IETA is very pleased to formalise this ongoing relationship.”

Carbon markets are evolving quickly, such as those in China and South Korea. “The Pacific Rim is becoming a hot-bed of carbon market activity, from Australia, China and Korea to California and Mexico,” says Forrister. “The IETA-CMI Alliance offers a clear advantage for companies to gain global market intelligence, influence policy developments and extend business networks.”

From 2015, Australian liable entities can meet up to 50 per cent of their carbon price liability under the CPM by importing carbon allowances from the EU ETS – initially via a one-way link from 2015 and then through full trading from 2018.

“Through the linking of Australia’s and Europe’s emissions trading schemes, businesses will be allowed to use carbon units for compliance from 2015, so it’s important for Australian companies liable under the Carbon Pricing Mechanism to understand the European market,” says Castellas.

Members of IETA and CMI will benefit from the strategic alliance through the sharing of research and access to discounted products and events.

ends

For more information, please contact:

Carbon Market Institute
Chief Executive Officer Peter Castellas 
Phone +61 3 9245 0900
Email: peter.castellas@carbonmarketinstitute.org 

Communications Manager Gabrielle Callahan 
Phone: +61 3 9245 0960 or +61 408 997 486 
Email: gabrielle@carbonmarketinstitute.org 

International Emissions Trading Association
Australia/NZ Director Rob Fowler
Phone: +61 402 298 569
Email: fowler@ieta.org

Director Strategic Partnerships Lisa Spafford
Phone: + 41 22 737 0502 or +41 79 262 2621
Email: spafford@ieta.org

About the Carbon Market Institute

The Carbon Market Institute is an independent membership-based not-for-profit organisation. Our aim is to assist Australian businesses in meeting the challenges and opportunities associated with the developing national and international carbon markets and thereby build capacity to grow in a low-carbon world.

About the International Emissions Trading Association

The International Emission Trading Association (IETA) is the only cross-sector, cross-function business association supporting emissions trading and carbon finance that span the world’s carbon markets. Members cover the full spectrum of major energy, manufacturing, commodities, finance, and service companies across the world. IETA is the voice of business world-wide on carbon pricing, carbon finance and emissions trading, commanding respect gained from over 10 years of leadership in international climate negotiations, commercial and policy forums, starting from the birth of the carbon trading idea. The messages that IETA delivers come from the collective views of the business leaders forming its membership. IETA’s headquarters are in Geneva, with offices in Washington, Brussels, Toronto, and representation in San Francisco, Seoul, Tokyo and Melbourne.

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