Carbon Trading: Allowances and Market Oversight
What You Will Learn
A federal cap-and-trade system promises to comprise a complex set of laws and regulations. Pending financial market reform initiatives have the potential to create a compliance carbon market that looks and operates vastly different from those that currently exist in Europe and in the voluntary carbon market today.
Panelists will examine in-depth the issues involved in obtaining and trading U.S. allowances and offset credits and how this new market and regulatory system will function. We will discuss what agency or agencies will be given jurisdiction over each of the physical and financial, spot and forward, over-the-counter and exchange-based emissions markets, the emissions markets' interplay with traditional energy commodities and non-energy commodities, and how broader legislative efforts on market manipulation and speculation will impact the carbon markets.The faculty addresses:
How will the trading of allowances and offset credits be regulated in a US federal cap-and-trade system?
Will physical (cash) versus financial (derivative) allowances and offset credits be regulated differently?
Will any restrictions be placed on who can trade allowances and offset credits?
Will the trading of greenhouse gas products be regulated differently from the trading of energy and agricultural commodities? Will they be regulated differently from non-emission derivatives?
Will over-the-counter bilateral emissions trades be outlawed?
How will the creation and primary offtake of offset credits from greenhouse gas emission reduction projects be regulated?
Who will have oversight of this new market?
How will US regulatory oversight of emissions trading differ from what currently exists in the US and how the Europeans oversee emissions trading?
What proposals have been made to date and which elements are likely to pass?
What are the key concerns legislators are grappling with as they consider how to design and oversee this market?
THE SERIES
This program is the second in a 13-part series, "Understanding the New Climate and Energy Legal Landscape," that explains the real world impact of the fast moving developments surrounding climate and energy, demystifies the key provisions and negotiating points left before Congress, and uncovers the potential windfalls and pitfalls of this highly complex restructuring of environmental and energy law. Each program is taught by those helping to craft this new regulatory regime and those examining it with a critical eye so you can understand what this new landscape will mean for clients and for your future practice. Part 3 of the series, "Carbon Trading: The Ins and Outs of Offsets," will be on November 18.
Register now for the entire Telephone Series or Audio Webcast Series and save over 30%!
Faculty
Dirk Forrister, Managing Director, Advisory and Research Services, Natsource, Washington, D.C.
Steven Huhman, Vice President, Morgan Stanley Capital Group Inc., Purchase, New York
Brian J. McLean, Ph.D., Director, Office of Atmospheric Programs, Office of Air and Radiation, U.S. Environmental Protection Agency, Washington, D.C.
Richard M. Saines, Baker & McKenzie LLP, Chicago
Tauna M. Szymanski, Hunton & Williams LLP, Washington, D.C. (moderator)
Although each program in this series stands alone, why not sign up for all 13? Not only will you save over 30% on your registration fees, but you'll also gain a more complete understanding of the various challenges arising during a time of revolutionary change in climate change and energy law. Register now for the Telephone Series or Audio Webcast Series. ELI Associates can receive an additional discount, and should contact Marcia McMurrin for details.
Program Schedule
(All times Eastern Standard)
12:30 p.m. Program Begins
1:45 p.m. Questions and Answers
2:00 p.m. Adjournment
Total 60-minute hours of instruction: 1.5; Total 50-minute hours: 1.8Please note: MCLE approval has been applied for in AL, CO, DE, GA, IN, IA, KY, MS, NE, NH, NC, OH, OK, PA, TN, TX, UT, VA, and WA. ALI-ABA is a presumptively approved provider in AK, AZ, AR, CA, IL, ME, MO, MN, NE, NM, NY, ND, RI, SC, VT, and WI. Participants must submit for approval on their own in FL, ID, OR, WV, and WY. We will apply after-the-fact for credit in LA and MN upon request.
Times
Eastern 12:30 pm – 2:00 pm
Central 11:30 am – 1:00 pm
Mountain 10:30 am – 12:00 noon
Pacific 9:30 am – 11:00 am
Alaska 8:30 am – 10:00 am
Hawaii 7:30 am – 9:00 am
