Ricardo Energy & Environment joined a global consortium of experts in climate change policy commissioned by the World Bank to make recommendations on how to implement a greenhouse gas Emissions Trading System (ETS) in Chile.
Researchers from New Zealand, Chile, USA and the UK worked together to draft a proposal for the implementation of an ETS which would inform future decision making in Chile. The consortium was led by Motu, a New Zealand based public policy research institute.
Ricardo Energy & Environment led the research and writing on a core part of the project which advised the Chilean government on which sectors and greenhouse gases to regulate, as well as looking at options for who should be responsible for compliance with reporting emissions and other obligations. Other parts of the report covered how to determine the level of ambition, linking to other carbon markets, the potential use of domestic and international offsets and options for the phased introduction of an ETS.
The findings from the project were compiled into a report and presented to the World Bank. The report is the first step in illustrating how the Chilean government could implement an ETS. It was produced for the World Bank as part of Partnership for Market Readiness (PMR), a forum which encourages capacity building and progressive climate change policies by piloting new mechanisms and then sharing the results from these pilots with the international community.
To read the report please click here.