Preliminary Program *

This high-level session will provide an update on national and international implementation of the Kyoto Protocol and the implications for corporate compliance.

This session will provide an assessment of the current and future state of the NOx and SO2 markets in Canada from the points of view of a regulator, industry representative and an environmental NGO.

This session will provide an update on the large final emitters and offset system including identifying issues that still need to be resolved.

The Green Power in Canada Workshop Series engaged more than 300 renewable energy experts from across the country to build consensus towards a vision and strategy for the development of green power in Canada. The presentation will offer a summary of the series results including the current status of green power in Canada and the potential for it to meet electricity needs. It will present the final recommendations on the policies and incentives needed to ensure that Canada achieves its full potential for green power development, with all the benefits this offers.

This presentation describes the methodology and results of the analysis of the air emissions reductions from the generation and sale of renewable electric power in the Northeastern and Midwestern United States. The analysis includes emissions of NOx, SO2, CO2, particulate matter and air toxics, and the issues related to marketing these emissions reductions.

Global Oil & Gas Industry operations encounter unique operational and business environments while developing greenhouse gases (GHG) management strategies. To meet industry needs the American Petroleum Institute (API) developed the "Compendium of Greenhouse Gas Emissions Estimation Methodologies for the Oil & Gas Industry" (API Compendium). The presentation will provide highlights of the Industry Guidelines and the API Compendium and the SANGEA™ software system, which was originally developed by ChevronTexaco to implement the methodologies embedded in the API compendium.

During 2003, Eos Research & Consulting Ltd. surveyed financial institutions in Canada, U.S. and Europe to determine their expectations for how energy companies should approach climate change risks. Concurrently, responses of eleven energy companies to climate change risks were compared. The result provided two facets of the emerging standard for climate change risk management in the energy sector and a sense of the drivers for action on climate change in the absence of the Kyoto Protocol.

Many nations around the world are taking steps to implement the Kyoto Protocol, further amplifying the policy divergence of Non-Kyoto countries such as the U.S., which has historically emphasized voluntary action. While both camps show determination in their adopted policies, global economic sectors that must participate in both systems - such as the highly integrated energy sector in North America - will increasingly demand greater uniformity and harmonization. This presentation will address the challenges created in a world of dualistic climate policy, and some likely outcomes for greater harmonization over the short and long term.

In June, 2004, the Commonwealth of Virginia auctioned off a percentage of its 2004 and 2005 NOx SIP Call allowances. This auction was designed with the objective of maximizing revenues for the state. An innovative "English" clock auction was chosen. This presentation will analyze the decision to hold an auction, the auction design process, the reasons for the successful outcome, and the importance of the auction for the future allocations of emission allowances.

This presentation will discuss the verification process for the Quebec Covenant, a voluntary agreement between the Canadian Aluminum Association and the Quebec Government to significantly reduce greenhouse gas emissions from the aluminum industry. The focus will be on the challenges that the Covenant structure presented in providing consistent audits for three different companies, the verification process and (broadly) the end results. It will conclude with a discussion of the 'lessons learned' from the verification from different perspectives.

Opportunities to expand market-based programs in North America: Renewable energy credit trading programs and greenhouse gas trading programs are emerging in North America. The presentation will assess current programs as models for regional expansion.

The Chicago Climate Exchange's Voluntary Approach: A progress report on the world's first multinational, multi-sector, self-regulatory exchange to administer a voluntary, legally binding pilot program for reducing and trading greenhouse gas emissions in North America.

Alberta's Approach to GHG Reduction

The Hudson's Bay Company (Hbc) embarked upon a major "energy efficiency" retrofit program across Ontario. In an attempt to maximize the value of these projects, they attempted the creation of "indirect" emission credits using the only available vehicle, Set-Aside Allowances under the Ontario Emissions Trading Program, Ontario Reg. 397. This presentation will discuss the specific challenges of aggregation, barriers to developing emission credits from aggregations, quantification and credit creation processes, interactions with the Ontario Ministry of Environment, verification issues associated with energy efficiency projects and recommendations for future applications.

ICF Consulting will present recent findings examining the Ontario NOx and SO2 markets resulting from the numerous regulatory and electric market changes expected to affect Ontario over the next 5 to 15 years. Allowance market dynamics, allowance trading between Ontario and the U.S., and control investment strategies will be discussed.

This presentation will provide an overview of the developments in the NOx and SO2 program in Ontario focusing in on issues and challenges in developing market liquidity. It will also touch on cross border trading aspects as they relate to markets and challenges and opportunities in trading across national borders and into the state levels. The presentation will also provide an overview of the challenges and opportunities related to the addition of new sector coverage which begins January 1, 2005.

Global carbon market outlook 2H 2004: The carbon market around the world is still fragmented and if anything, showing signs of links between markets rather than convergence. This presentation will look at volumes and prices and consider what the EU, CDM, JI and other markets will look like in the second half of 2004.

The "Ecological" stock: Creating a world financial market for Emissions and Environmental Services Trading; reducing "Global Risk", facilitating the Kyoto Protocol implementation, Conserving Nature & Developing/Poor Countries F-Debt Swaps.

This paper provides an overview and analysis of the emissions trading industry in North America and Europe. In order to properly assess the viability of emissions trading markets six key areas are outlined: the economic function of emissions trading, the historical background of the emissions trading regime, the key players, the performance of emissions trading programs, the current and future prospects for emissions trading, and the key issues that will drive the industry dynamics. A model is used to describe the relationship between the players and the dynamics of emissions trading systems.

Project-based offsets can serve as a source of high-quality, low-cost emission reductions in mandatory and voluntary reduction programs. The Climate Trust is supporting state and regional policies to reduce GHG emissions with lessons learned and ideas to ensure that the goal of a lower GHG energy economy is linked to the policies and programs that seek to reduce emissions at the source.

This poster will consider the Canadian response to the Clean Development Mechanism (CDM) and Joint Implementation (JI) markets. While Canadian entities have yet to fully enter the market for project-based emission reduction credits, companies are actively investigating and developing CDM and JI opportunities. Canada’s CDM & JI Office, as the national focal point for CDM and JI, will provide an update on market trends and on its work in facilitating projects and building the capacity of host countries.