The Grantham Research Institute at the London School of Economics, in collaboration with Climate Bridge, Vivid Economics and the Grattan Institute has published a response to the Australian government’s discussion paper on “Price floor for Australia’s Carbon Pricing Mechanism – Implementing a Surrender Charge for International Units”.

The Australian Clean Energy Future Package, which passed on 8th November 2011 introduces a carbon price for Australia. From 2015 onwards, this will be achieved through an Emissions Trading Scheme, with a floor price. The scheme allows Liable Entities to comply by surrendering International Units (such as Certified Emissions Reductions), which will be subject to a surrender charge so that the floor price remains effective.

The Department of Climate Change and Energy Efficiency (DCCEE) is now evaluating the options for designing this surrender charge. The intention is to design a mechanism that is efficient, effective and workable. Climate Bridge is pleased to contribute to the debate, and looks forward to participating in a system that creates a well functioning trading scheme and promotes deep and liquid international markets.

The paper can be found here.

For further enquiries, please contact Sarah Chapman in our Melbourne office on +61 2 8684 9933.

Climate Bridge GmbH will be Climate Bridge’s European project implementation hub, working closely with the Asian implementation team based mainly in Shanghai. Germany is strategically important for Climate Bridge, as home to many key players in the carbon markets. In particular, the German office will enable close cooperation with our German DOE partners, ahead of what will be a critical and busy year for all DOEs.

Dr Kolmetz and the team are looking forward to building closer relationships with all of our friends in Germany, and to welcoming them to our office in Munich.

These projects have multiple social and environmental benefits. As part of an integrated waste management system, anaerobic digestion reduces the emission of greenhouse gases into the atmosphere and produces a rich biogas (which is suitable for energy production, and can therefore be used to replace fossil fuels). The nutrient-rich solids left after digestion are used as fertilizer and the improvement in waste water management allows more water for irrigation. The emissions reductions have been verified by the Verified Carbon Standard.

VERs from these projects are available for sale on a wholesale basis. For more information, please contact sales@climatebridge.com.

Sven has a unique perspective on the CDM development process having been head of the Carbon Management Services division of TÜV SÜD (one of the world’s leading carbon auditors) prior to joining Climate Bridge. This experience will be a clear asset to the PD-forum as it continues to play a critical role in shaping the carbon markets.

Gareth Phillips, Chairman of the PD-Forum, confirmed “how pleased the PD-Forum is to welcome Climate Bridge onto the Executive Committee. The PD-Forum currently represents the largest single source of experience and expertise in the CDM outside the UNFCCC Secretariat and its bodies, and we are increasingly engaged in productive exchange of ideas and information. We look forward to Climate Bridge’s and Sven Kolmetz’s contribution to our ongoing efforts to improve the process”

About the Project Developer Forum

The Project Developer Forum is a collective voice to represent the interests of companies developing greenhouse gas (GHG) emission reduction projects in international markets under the Clean Development Mechanism (CDM), Joint Implementation (JI) and other carbon emission reduction schemes and programs.

The PD-Forum is active in communicating with regulators at national, supranational and international levels and other project developers about the rules and regulations governing emissions trading and emissions reductions projects.

This beats Climate Bridge’s previous record of 6.3 months, achieved by Gansu Xinmintan 10MW Expanded Hydropower Project in March.

Luxi Nanmahe II is a small run-of-river hydro project on the Nanmahe river, in the mountainous far west of Yunnan Province, 20 miles from the border with Myanmar. By providing clean energy to the South China Power Grid, it generates emissions reductions of 13,000 tonnes CO2e every year.

More information about the project can be found on the UNFCCC website:  http://cdm.unfccc.int/Projects/DB/JCI1301305634.05/view

His appointment follows the investment in Climate Bridge by Acorn Capital, a leading Australian microcap fund, in June 2010.

“John is one of the most highly regarded investment bankers in Australia, and his expertise will be an enormous asset as Climate Bridge develops new business opportunities in environmental finance. Indeed we are already benefiting from his outstanding advice,” says Alex Wyatt, Climate Bridge CEO.

“To attract a leader of John’s calibre and reputation is a testament to the strengths of Climate Bridge’s business success, management team and environmental impact so far,” says Roger Allen AM, Climate Bridge Chairman. “We are thrilled to welcome him onto the board.”

About John Wylie

John Wylie is CEO of Lazard Australia. He assumed this role upon the acquisition by Lazard in 2007 of Carnegie, Wylie & Company (CWC), an independent corporate advisory and private equity firm he co-founded in 2000. John has advised companies and Governments for 25 years in Australia, the USA and the UK. Prior to founding CWC, he was Chairman of Credit Suisse First Boston Australia.

In community activities, John is Chairman of the Melbourne Cricket Ground Trust and chaired the MCG Redevelopment Committee for the 2006 Commonwealth Games. He chairs the Victorian Olympic Council’s Finance Committee, is a Board member of the University of Queensland Endowment Fund and a member of the Business Advisory Council of Oxford University’s Saïd Business School. He is a Trustee of the Global Rhodes Trust and a Member of the Order of Australia.

About Climate Bridge

Climate Bridge was founded out of a desire to make a high-impact contribution to modern society’s efforts to combat climate change. Both inside and outside the carbon markets, Climate Bridge continues to explore new opportunities to support the transition to a low-carbon global economy.

Climate Bridge has a portfolio of more than 180 emission reducing projects in both the voluntary and compliance carbon markets. The emission reductions from these projects are sold on a wholesale basis to major corporations and retailers in Europe, North America, Asia and Australasia. A truly international company, Climate Bridge has regional headquarters in Shanghai, London and Melbourne.

The event brought together a wide range of industry players to hear about developments in the Australian carbon markets and the growth of Melbourne as a regional hub for carbon activities in Asia Pacific.  Climate Bridge is a company with Australian roots and opened a Melbourne office in 2009 to add to its main centres in Shanghai and London. It was able to share its experiences from the perspective of both a local participant in the Victorian carbon expansion, and a major presence in the international voluntary and compliance carbon markets.

The event was hosted by Sally Capp, the Agent-General for the Victorian Government.