So – did the villains win? Well most mainstream media seem to think so, but expert opinion, including my own, are that the heroes emerged and shone like beacons; and will win the day. Will it be enough? We certainly have to hope so.
And so, began the Carbon War of the 2020 decade. A WAR WE MUST WIN
USA, Australia and Brazil were literally toxic in the process and I half expected Australian Energy Minister Taylor to jump on stage with a lump of coal. Frankly the USA will leave the agreement next November but turned up to disrupt anyway. And Brazil did more somersaults than a world class gymnast, with some bad landings. Despite having almost entirely agreed the last text in the longest COP yet (yes they’ve been going at it for 25 YEARS!) they still chose to keep their ‘jobs’ and punt the ‘final’ decision on Article 6 to next year in the UK. Sigh.
First and foremost, Spain. What an incredible event they put together in only a month. It ran like a German Train and everyone working smiled and it was simply wonderful, the best I’ve been to (of 8 I have attended). Bravo!!!
Then the African nations – WOW. I met more PhD’s than I knew existed and some of the delegations were ultra-proactive and they were just everywhere wanting to make something happen – NOW, next week, next year. None of this 2050 rubbish from those guys. Our friends in Nigeria may be first to take on our technology, but they certainly will lead a big strong pack of eager nations. Loving Africa right now.
The Caribbean pavilion was super, Thailand was amazing, and the UK were upstanding and outstanding. South Africa weren’t that visible, but they loaned their pavilion to other African nations for events which was super. IETA’s Side events schedule (we had 3 as we were the 1st committed major sponsors) were diverse, informative and well attended – despite the predicable steaming hot room. Our neighbours at the Green Climate Fund pavilion and the EU pavilion were awesome and generous hosts. But the big stars for me were the group of nations who said “Countries don’t need to wait for the UN to boost ambition through Carbon Markets”
“The Unconventional Group”
A group of nations led by Costa Rica created the San Jose Principles prior to COP25 as a ‘back up plan’ in case the talks stalled or failed (they sort of flopped’).
“Leading Countries set benchmark for carbon markets with San Jose Principles” screamed the headline of the press release they pushed out just before Midnight last Saturday when the negotiations were still going but clearly seemed destined not to conclude in success. The list is 31 Countries including the UK, France, Italy and New Zealand.
That list of ‘Heroes’ is almost certain to become longer in the coming weeks and months, so, along with the 20+ potential deals for our new Registry technology we already have, we will seek to support any of the heroes who need it.
Then our latest Hero is our friends at Gold Standard, whose recent CEO Margaret Kim stepped up and signed a new GEM /CTX contract which removes the previous 2 cents per ton transfer fee from our exchange trades. This begins a whole new chapter of collaboration in our already strong relationship with the premier voluntary carbon standard in the world. Watch this space for some exciting announcements about that – in the near future.
The reaction to our new ITMO Registry technology was and is sensational as we had hoped – the selling nations need it and the buying nations (and large investors) want them to have it. As for Carbon Trade eXchange – I felt like I had just invented it this year – despite it being operational for over 10 years. The reaction was “WOW really – that’s awesome. And its linked to your registry. super awesome!”
So, for those who can handle a heavy read – I will link here to an article that is staggeringly good. Its comprehensive and tells the whole story of COP25. Man, that guy can WRITE!
Me..? I’m not giving up my day job any time soon
An Exhausted Wayne Sharpe