DRAFT AND SUBJECT TO CHANGE
CAMBRIDGE PERMANENCE AND DURABILITY WORKSHOP:
BRINGING SCIENCE AND CARBON MARKET POLICY TOGETHER
DRAFT AGENDA AS OF JANUARY 5, 2024
Day 1: January 31
Time | Element |
08:30-09:00 | Registration with coffee and pastries available |
09:00-09:30 |
Setting the stage
• Welcome and intros |
09:30-10:30 |
Update on the latest science around the impact of carbon storage In this session, we’ll cover the latest science on the impact of storing carbon on climate change (the timing, duration, and magnitude of that storage) to give attendees a shared understanding of how to consider the impact of different approaches to permanence on climate change. We’ll specifically cover:
• What does the science say about the atmospheric impact on climate change for a ton of CO2 and a ton of other GHGs? |
10:30-11:30 |
Scene setter on various approaches to permanence in the market today We’ll cover the different risks associated with different carbon project types, various approaches to addressing these risks over time, and which approaches are being used in the market today. This scene setter aims to help all attendees - regardless of their background in carbon markets - start with a shared understanding of the issue of permanence and how it's been addressed to date. This session will specifically cover:
• Stratifying and assessing risk across project types and categories - ie. What are the different types of project risks? What causes the re-release of carbon and who owns that risk? DRAFT AND SUBJECT TO CHANGE
• Summary and history of different permanence approaches |
11:30-12:30 |
Overview and discussion from existing standard-setting bodies Standard-setting bodies have evolved their approaches to permanence over time. In this session, we’ll hear from representatives of the major standards bodies (Verra, ACR, CAR, Puro.Earth) on the following:
• How does your standard approach permanence? Lightning presentations summarizing proposed novel, cutting-edge risk mitigation approaches Various new approaches have been proposed to tackle on-going issues related to permanence. In this session, we’ll hear about different novel approaches, how they work, and what issues they seek to address. |
12:30-13:30 | Lunch |
13:30-14:15 |
Moving towards investment-grade asset classes/markets In this session, we’ll cover: • For carbon markets to scale to tens of billions of dollars, what needs to be true about carbon market contracts and risk mitigation so that these assets can be financially auditable and bankable? |
14:15-14:45 |
The role of insurance in carbon markets Insurance is increasingly viewed as a promising mechanism to deal with carbon project risk and impermanence. In this session we’ll cover: • What is the status of different insurance products on the market today? • What problems do they solve? • What is needed for these mechanisms to be successful? |
14:45-15:15 |
Group discussion and reflection In this session, we’ll cover:
• What questions do these sessions bring up for you? |
15:15-15:30 | Break |
15:30-15:45 |
Overview of permanence and durability systems design exercise
• How will outputs from this exercise inform future ICVCM thinking? |
15:45-16:45 | Part I: Permanence and durability systems design exercise (in sector-focused groups) |
16:45-17:30 | Group readout: Discussion highlights, feedback on day one, preview of day two |
17:30-19:00 | Break |
19:00 | Dinner |
Day 2: February 1
Time | Element |
08:30-9:00 | Coffee and pastries are available |
09:00-09:30 |
Setting the stage for Day 2
• Norms and agenda |
09:30-11:30 | Part II: Permanence and durability systems design exercise (in mixed-sector groups) |
11:30-11:45 | Break |
11:45-13:15 | Working lunch Part III: Permanence and durability systems design exercise (in mixed-sector groups) |
13:15-14:15 |
Group assessment rating and activity In this session, groups will present the output of the breakout exercise to all attendees. Attendees will ask questions, discuss, and evaluate the proposed approaches developed throughout the exercise. |
14:15-15:00 |
Closing
• Next steps |
* Following GDPR compliance, the list of confirmed attendees is circulated internally.