Mistra Indigo

researcher discusses U.S. climate policy with the U.S. Deputy Assistant Secretary of State

When the U.S. Deputy Assistant Secretary of State Bay Fang visited Stockholm in the middle of August Lars Zetterberg, a Mistra Indigo researcher, presented a new report regarding a future transatlantic carbon market between the EU and the U.S.

According to the report a first step toward a transatlantic carbon market would be to linking the EU emissions trading system (ETS) with an emerging emissions trading system in California. The report shows that both parties are in favour of creating a long-term global carbon market; however, in the short term linkage is not likely. Currently neither party acknowledges the other's use of external credits, so-called off-sets, and in addition there seems to be a lack of political will for linking EU and California.

Many countries see the U.S. as "the bad guy" in the climate negotiations, but during the discussion Bay Fang said that several actions are implemented without the world sees it. According to the International Energy Council (IEA), the U.S. has reduced its greenhouse gas emissions by 7.7 per cent since 2005 and the U.S. seems to be on track to meet its pledged target of reducing emissions by 17 percent by 2020.

Bay Fang gave several examples of measures that have been implemented and also hailed the close cooperation between Sweden and the U.S regarding the implementation of low-carbon technologies.

Asked if the United States is planning to engage in bilateral negotiations outside the UN system, for example with China, Bay Fang underlined that the U.S. does not exclude anyone, and of course continues the discussion within the UN system.

For more information please contact Lars Zetterberg, tel. +46- 8598563 57

Updated: 2012-10-10

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