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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. 


Dirk Forrister
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 not."

"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."

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Gareth Phillips
Chair, Project Developer Forum

"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."

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Miles Austin
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 investments globally."

"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 economies."

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