ADB Workshop on Policy Architecture for High Integrity Carbon Markets under the Paris Agreement
Carbon markets are increasingly being recognized as a pivotal mechanism to channel financial resources into initiatives combating climate change. As integral components of the climate policy architecture, these markets play a crucial role in reducing GHG emissions cost-effectively, mobilizing all important carbon finance in the case of international carbon markets and generating revenue in the case of domestic markets, and promoting the adoption of low-carbon technologies and solutions.
The Asia and the Pacific region is witnessing growing carbon market activity, driven by ambitious climate goals and the need for cost-effective emissions reductions. The value and size of the carbon markets are expected to steadily increase with Article 6 Rules finalized at COP29, countries updating their nationally determined contributions (NDCs 3.0) and the private sector starting to implement their net-zero commitments. Countries in Asia and the Pacific can take advantage of these opportunities by aligning their national strategies and establishing the necessary policy, legal and regulatory frameworks required to operationalize carbon markets domestically and internationally.
This workshop brings together policymakers from ADB developing member countries (ADB DMCs), market standards experts, project developers, and other key stakeholders to share insights and explore strategies for implementing carbon markets under Article 6 of the Paris Agreement and within the voluntary carbon market (VCM) framework. Ultimately, this workshop aims to assist ADB DMCs in designing a holistic national policy architecture for high-integrity carbon markets by:
- providing an overview of Article 6 of the Paris Agreement and its implications for international cooperation post-COP29;
- developing tailored carbon market strategies aligned with each ADB DMC's specific context and climate goals, including how they might leverage international cooperation under Article 6 of the Paris Agreement and the VCM; and
- introducing ADB’s key knowledge resources such as the National Strategies for Carbon Markets under the Paris Agreement: Making Informed Policy Decisions (published in 2023) and VCM Legal Principles Handbook (to be published in Q1 2025).
Registration
This is a ‘by invitation only’ workshop. Invited participants are encouraged to register directly through the registration link included in the formal letter of invitation.
"View the Agenda here."
-Day One, 10 December 2024-
Masters of Ceremony
Christina Pak
Principal Counsel & Team Leader, Law and Policy Reform (LPR), Office of the General Counsel (OGC), ADB
Daniele Quaggiotto
Principal Counsel, OGC, ADB
8:30 - 9:00 am Registration & Welcome Coffee/Tea
9:00 - 9:20 am | Opening Ceremony
The opening ceremony includes high-level speakers who will share their perspectives about emerging carbon market opportunities.
Jackie Surtani
Regional Director, Singapore Office, ADB
Sonja Gibbs CFA
Managing Director and Head of Sustainable Finance, Global Policy Initiatives, Institute of International Finance and Member, Governing Board, ICVCM
Martijn Wilder AM
Founder & CEO, Pollination
Magsad Huseynov
First Secretary for Ministry of Foreign Affairs, Azerbaijan
9:20 - 9:30 am | Introduction to One ADB Team
09:30 - 10:00 am Group Photo and Break
10:00 - 10:30 am | Setting the Scene: A Carbon Credit Journey
An interactive session following the lifecycle of a verified carbon credit from its creation to how it ultimately helps to drive finance and tackle climate change.
Belinda Ellington
Ellington Resolution, Ltd and Senior Advisor, IETA Secretariat
10:30 -11:00 am | Straight From Baku: COP29 Carbon Markets Download
Perumal Arumugam
Manager, Mitigation Division, UN Framework Convention on Climate Change (UNFCCC)
Virender K Duggal
Principal Climate Change Specialist, Climate Change and Sustainable Development Department (CCSD), ADB
Ramon Manny Adelbai
Member, Article 6 Ad Hoc Working Group, Palau
Lucy Palairet
Director, Carbon Markets Development, Standard Chartered
Magsad Huseynov
First Secretary for Ministry of Foreign Affairs, Azerbaijan
11:00 -12:00 pm | Session 1: International Carbon Market Opportunities - From Ambition to Action
This session discusses opportunities and challenges in further scaling up carbon markets in the Asia and the Pacific region.
Thomas M. Clark
General Counsel, ADB
Sonja Gibbs CFA
Managing Director and Head of Sustainable Finance, Global Policy Initiatives, Institute of International Finance and Member, Governing Board, ICVCM
Martijn Wilder AM
Founder & CEO, Pollination
Sonam Tashi
Director of the Department of Environment and Climate Change, Bhutan (virtual)
Apisai Rinamalo Vakacegu
Director, Forest Resource Assessment Conservation and REDD+, Ministry of Forestry, Fiji
Aziz Khamidov
Head of the Department of Investment Promotion & Facilitation, Ministry of Investment, Industry and Trade, Uzbekistan (virtual)
Kamia Handayani
Executive Vice President, Energy Transition and Sustainability, PT PLN (Persero), Indonesia
12:00 -1:15 pm Lunch Break
1:15 -2:15 pm | Session 2: Article 6 of the Paris Agreement - Post COP29
COP29 provides a clear pathway for the new era of international carbon markets with the adoption of key rules and guidelines for carbon trading under Article 6, however, there is a need for domestic policies and action for Article 6 implementation. This session provides a current status of operationalizing Article 6.2 and an overview of international cooperative frameworks between countries that have been entered into or launched. Furthermore, this session discusses the recent developments under Article 6.4 Paris Agreement Crediting Mechanism (PACM), a centralized market managed by the United Nations which has the potential to attract significant finance from the private sector.
Virender K Duggal
Principal Climate Change Specialist, CCSD, ADB
Perumal Arumugam
Manager, Mitigation Division, UNFCCC
Ken Sereyrotha
Director General, General Directorate of Local Community and Chair of Carbon Crediting Secretariat, Ministry of Environment, Cambodia
Nadia Rehman
Member, Food Security & Climate Change, Planning Commission, Pakistan
Kazuhisa Koakutsu
Director, Paris Agreement Article 6 Implementation Partnership Center
Saurabh Joshi
Director of Product and Strategy, Climate Impact X
2:15 - 3:15 pm | Session 3: Voluntary Carbon Market (VCM) in the Paris Agreement Era
VCM is expected to grow driven by global demands for voluntary carbon credits from corporates and other investors and bolstered by industry initiatives such as ICVCM and VCMI, as well as operationalization of Article 6.4 PACM which creates a new class of carbon credits available for purchase by corporates and financial institutions. Furthermore, countries are leveraging voluntary carbon credits for compliance purposes providing further impetus to the growth of the VCM. What more is needed to support the growth of the VCM to help generate the trillions of dollars of climate finance required?
Euna Shim
Senior Markets Development Advisory Specialist, OMDP, ADB
Sonja Gibbs CFA
Managing Director and Head of Sustainable Finance, Global Policy Initiatives, Institute of International Finance and Member, Governing Board, ICVCM
Peter Zaman
Partner, Holman Fenwick Willan (HFW)
Ray Thomas Kabigting
Attorney IV and Officer-in-Charge, Forest Investment Development Division, Department of Environment and Natural Resources, Philippines
Felizberto Araujo Duarte
President, National Designated Authority for Combating Climate Change, Timor-Leste
Muhammad Ridzwan Bin Ali
Senior Assistant Secretary, Climate Change Policy and Negotiation, Ministry of Natural Resources and Environmental Sustainability (NRES), Malaysia
3:15 -3:30 pm Coffee/Tea Break
3:30 -4:30 pm | Session 4: Carbon Projects in Action - From Project Development to Credit Monetization
This session invites experts from the field to share their direct experience of carbon projects and credit creation and trading. An opportunity to learn from the ground-up how carbon crediting projects are developed to how finance is raised.
Ruchika Saluja
Senior Markets Development Advisory Specialist, OMDP, ADB
Nawa Rhaj Dakal
Executive Director, Alternative Energy Promotion Centre, Ministry of Energy, Water Resources and Irrigation, Nepal
Saken Kalkamanov
Advisor to the Minister, Ministry of Ecology and Natural Resources, Kazakh Research Institute of Ecology and Climate (Zhasyl Damu JSC), Kazakhstan
Win Sim Tan
Regional Representative, East and Southeast Asia, Verra
Ankit Mathur
Co-Founder and Chief Executive Officer, Greenway Grameen Infra Private Limited
Hum Wei Mei
Head of APAC & Global Head Carbon and Environmental Products, AirCarbon Exchange
-Day Two, 11 December 2024-
8:30 - 9:00 am Welcome Coffee/Tea
9:00 - 10:00 am | Session 5: Benefit Sharing, Sustainable Development Impacts & Social and Environmental Safeguards
In this session, experts discuss benefit-sharing arrangements in the different types of carbon crediting projects and showcase good examples. This session also discusses project proponent’s requirements to ensure integrity and social and environmental safeguards.
Gerrit Held
Climate Change Specialist (Public-Private Partnership), OMDP, ADB
John Narag
OIC Director IV, International Finance Group, Department of Finance, Philippines
Waisea Radelanimati
Senior Administrative Officer (Good Governance), Ministry of iTaukei Affairs, Fiji
Omari Tsereteli
Deputy Head of Energy Efficiency and Renewable Energy Policy and Sustainable Development Department, Ministry of Economy and Sustainable Development, Georgia
Emily Mulina-Pomoh
Mitigation Officer, Climate Change Development Authority, Papua New Guinea
Celina (Kin Yii) Yong
Carbon Markets Regional Focal Point and Regional Technical Advisor and Stakeholder Engagament Specialist, Asia and the Pacific, United Nations Development Programme (UNDP)
Paul Clos
Head of Private Sector & Climate Finance Unit, Legal Department, International Fund for Agriculture Development (IFAD)
10:00 - 10:15 am Coffee/Tea Break
10:15 - 11:15 am | Session 6: Developing National Strategies for International Carbon Markets
This session brings together experts who supported the development of ADB’s knowledge resource entitled National Strategies for Carbon Markets under the Paris Agreement: Making Informed Policy Choices, as well as policymakers from ADB DMCs who have made progress in developing national strategies for international carbon markets to share their experiences.
Takeshi Miyata
Senior Climate Change Specialist, CCSD, ADB
Hari Prasad Sharma
Under Secretary (Tech.), Ministry of Forest and Environment, Nepal
Koreti Leilani Matavao
Principal Officer, Energy Policy Unit, Asset Management Division, Samoa
Idizoda Nematullo
Head of the Department of Planning, Account and Finance, Environmental Protection Committee, Tajikistan
Kavya Bajaj
Manager, Government Relations, Gold Standard
Nguyen Thanh Cong
Deputy Head, Department of Climate Change, Ministry of Natural Resources and Environment, Vietnam
11:15 - 12:15 pm | Session 7: Introduction to ADB's Guidance Framework to Implement and Operationalize Article 6
This session introduces and discusses the Guidance Framework developed by ADB to implement and operationalize Article 6 of the Paris Agreement.
Virender K Duggal
Principal Climate Change Specialist, CCSD, ADB
Guntur
Senior Public Policy Analyst, Coordinating Ministry for Economic Affairs, Indonesia
Mirza Shawkat Ali
Director, Climate Change and International Convention at Department of Environment, Bangladesh
Yedda Marie Joy Diaz
Senior Policy Counsel, Office of the Secretary and Chief of Staff, Climate Finance, Philippines
Munkhzul Kharmuden
Director General, Ministry of Environment and Climate Change (MECC), Mongolia
Choikhand Janchivlamdan
Director, Climate Change Research and Cooperation Centre (CCRCC)
12:15 - 1:30 pm Lunch
1:30 - 2:55 pm | Session 8: Developing National Carbon Market Legal and Regulatory Frameworks
Clear policies and stronger national laws and regulations could help countries benefit more from carbon markets and support sustainable development. This session discusses the emerging legal and regulatory frameworks to support carbon markets and shares examples of how countries are regulating the carbon markets. It also discusses the importance of defining the legal nature of verified carbon credits. Furthermore, it sheds light on why governments should consider regulating the VCM and introduces the VCM Legal Principles Handbook, jointly developed by ADB and Pollination, which presents key legal and policy building blocks to facilitate high integrity projects and standards critical for the VCM.
Christina Pak
Principal Counsel & Team Leader, LPR, OGC, ADB
Daniele Quaggiotto
Principal Counsel, OGC, ADB
Ranjila Singh
Climate Change Mitigation Specialist, Climate Change Division, Ministry of Environment and Climate Change, Fiji
Dimas Ainul Firmansyah
Economic Analyst, Coordinating Ministry for Economic Affairs, Indonesia
Daovinh Souphonphacdy
Deputy Director, Climate Change Management Promotion Division, Department of Climate Change, Lao PDR
Fredrick Tamarau
Deputy State Solicitor (Commercial Law), Office of the State Solicitor, Papua New Guinea
Ignacio Tirado
Secretary-General, UNIDROIT (recorded video)
Lauren Drake
Executive Director, Pollination
Belinda Ellington
Ellington Resolution, Ltd and Senior Advisor, IETA Secretariat
2:55 - 3:40 pm | Session 9: Group Discussion - Experience Sharing and Next Steps
This session provides an opportunity for participants to share key insights and forges a way forward including how ADB DMCs can take advantage of the frameworks developed by ADB and what support they need to build high-integrity international carbon markets. Participants break into small groups to discuss two questions and report back to the workshop participants.
Christina Pak
Principal Counsel & Team Leader, LPR, OGC, ADB
Daniele Quaggiotto
Principal Counsel, OGC, ADB
Virender K Duggal
Principal Climate Change Specialist, CCSD, ADB
Jungsun Lee
Senior Operations Coordination Specialist (Climate Change and Disaster Resilience), CCSD, ADB
Takeshi Miyata
Senior Climate Change Specialist, CCSD, ADB
Euna Shim
Senior Markets Development Advisory Specialist, OMDP, ADB
Ruchika Saluja
Senior Markets Development Advisory Specialist, OMDP, ADB
Gerrit Held
Climate Change Specialist (Public-Private Partnership), OMDP, ADB
Naeeda Crishna Morgado
Senior Infrastructure Specialist (Climate Finance), Southeast Asia Regional Department, ADB
Abhishek Naveen Hegde
Private Sector Development Specialist, Central West Asia Regional Department, ADB
3:40 - 4:00 pm | Closing Session
4:00 - 5:00 pm | Networking with Experts
Unique opportunity for policymakers to engage more directly with experts in smaller informal settings.
Presentations
- Setting the Scene: A Carbon Credit Journey
- Session 2: Article 6 of the Paris Agreement – Post COP29
- Session 4: Carbon Projects in Action – From Project Development to Credit Monetization
- Session 4: Carbon Projects in Action
- Session 7: ADB Guidance Framework on Article 6 of the Paris Agreement
- Session 8: Forthcoming VCM Legal Principles Handbook
- National Strategies for Carbon Markets under the Paris Agreement: Making Informed Policy Choices | Asian Development Bank (adb.org)
- Upcoming: Voluntary Carbon Market Legal Principles Handbook
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