Public policy think tank Civic Exchange and the British Consulate-General co-organised a workshop to explore the latest developments in carbon trading and the implications for the financial centres of the world. This workshop is supported by Hong Kong Exchanges and Clearing Limited.

As the world considers how to meet the climate change challenge, financial centres such as Hong Kong must work out what positive role they can play to price greenhouse gas (GHG) emissions. This would be an important step in ensuring the right financial incentives are in place to achieve large emissions reductions within the foreseeable future. The UNFCCC's flexible market mechanisms, including emissions trading and the Clean Development Mechanism (CDM), were designed to assist in that process but they face many challenges. There is expectation that significant progress can be made by the Conference of the Parties takes place in Copenhagen in 2009. One of the hurdles for Copenhagen 2009 is how to adjust the flexible market mechanisms so that they work better, and how financial services can be reshaped to help the mitigation of and adaptation to climate change.

Ian Johnson of IDEAcarbon explored the instrumentalisation of carbon, namely the emergence of carbon credits on global exchanges and what can be done to homogenise markets. Click to view his presentation and information about IDEAcarbon.

His presentation will be followed by a series of stimulating panel discussions with those involved in carbon trading issues in Hong Kong and Asia. Panelists will include:
• Matthew Harrison, Hong Kong Exchanges and Clearing Limited

• Liam Salter, Head, WWF Hong Kong Climate Programme

• Gail Kendall, China Light and Power (CLP)
• Angus Barclay, Cathay Pacific
• Shane Spurway, Fortis
• Hubert Tose, Anemone Green Capital

Please click here to view the workshop report and video record