Dirk Forrister, President and CEO of the International Emissions Trading Association, Miles Austin, Executive
Director of the Climate Markets & Investment Association, and Gareth Phillips, Chair of the Project
Developer Forum share their views on why the Doha Amendment and a seamless transition into a second
commitment period of the Kyoto Protocol are important to the carbon market, and speak on what is needed to
fulfill the carbon market potential to drive down emissions cost-effectively.
President and CEO, International Emissions Trading Association
"Carbon markets aren’t an end in and of themselves – they are simply a tool for
reducing emissions in cost effectively. They also serve as a sign of the health of the climate
policy agenda – since they show whether new investment is moving into climate action or
"In summary, the biggest sign of success of a Doha Amendment will be whether it provides
enough policy clarity for business to step forward to invest new money in the CDM, JI – and
ultimately in a New Market Mechanism."
"The Doha Amendment is important because it guarantees the existence of a single fungible
carbon currency, which is essential to the continuation of both national and international efforts to
tackle climate change."
"Investment in projects and the participation of financial institutions and corporate global
players is at a turning point. A strong signal of commitment can help to bring them back to pre 2010
levels but we need as many Parties as possible to join the effort."
Executive Director, Climate Markets & Investment Association
"If the critical issue of demand is not addressed in due course, carbon credit based
revenues streams will lose significance for investors and we will have lost the opportunity to create
an asset class that assigns a price to pollution and creates comparative advantages for green
"It is encouraging to see that many countries are supportive of the carbon market and
understand its potential as one instrument to address mitigation activities in their own