Professional Documents
Culture Documents
rd
Green Investment and
Low Carbon Economy Workshop
Taipei, June 2011
Date : 2011/ 06 / 22 (Wed.)
Time : 08:30 - 17:00 (GMT +08:00)
Location :Taipei Howard International House
South Pole Carbon Asset Management Ltd.
taiwan@southpolecarbon.com
www.southpolecarbon.com
1
If you were not here the last 2 years
2
2
Thanks god.
3
You are here today.
3
rd
Annual Conference on
Green Investment Linking and Low Carbon Economy
Taipei, June 2011
Jules Chuang
Principal East Asia
South Pole Carbon Asset Management Ltd.
3
Contents
Concept behind the scene
Our esteemed speakers
Our deliverables today
5
And if you need or would like to invest in carbon credits
In-House emission reduction
Carbon credits from markets
And..
6
4
New kind of asset
7
South Pole carbon asset
development services
Traditional Carbon Asset Management services offered Pioneering Green Asset Management services offered
Project
development
by owner
Project registration CER issuance
Feasibility
analysis
Financial
closure
Concept
Construc-
tion
Operation
Project
8
CDM
development
Monitor-
ing and
verifica-
tion
docu-
menta-
tion
(PDD)
Host
country
approval
(DNA)
UNFCCC
regis-
tration
Valida-
tion
(DOE)
Initial
scope
(PIN)
Issuance
of CERs
5
Introduction to Green Investment
Waste
Handling
Hydro Wind
Energy
efficiency
Oil well gas
recovery
Afforestation
and
reforestation
Solar Waste
gas/heat
recovery
Agriculture:
biomass and
biogas
Contents
Concept behind the scene
Our esteemed speakers
Our deliverables today
10
6
A basket of expertises
11
Contents
Concept behind the scene
Our esteemed speakers
Our deliverables today
12
7
New concepts and experiences sharing
Big pictures internationally and domestically (Dr.
Liang/Dr. Huang/Mr. St. Maur Sheil)
New technology application (Mr. Gursch and Mr. Chan)
Challenges (Mr. Chang)
What happens next door (Mr Wang)
13
What happens next door (Mr. Wang)
How we can help further (Ms. Wong)
Enjoy our conference!
14
8
Challenging topics to take home
Border carbon tax for export-oriented industries
Limited domestic carbon supply for heavy emitters
Unclear game plan locally vs. fast-changing international
markets
L i b d i l i b d i thi f th itti
15
Learning by doing vs. learning by doing nothing for the sitting-
and-watching (heard of ISO 14064-1/2, carbon footprint,GS,
VCS?)
Always at your service
16
2011/6/27
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9
The green power race is on
But they should be GREEN
10
Leading 15 PV companies in 2009
: 5
: 3
: 3
: 2
: 1
19 Source: Renewables 2010 Global Status Report
: 1
: 1
Green Score Among Top 10 PV Makers
The Silicon Valley Toxics
Coalition's (SVTC) Solar
d
SolarWorld, Germany - 91
Trina Solar, China 89 ()
Abound Solar, U.S. - 87
Scorecard
2
nd
year
15 PV manufacturing
companies, including six of
the 10 with the largest market
share responded to the
First Solar, U.S. - 87
REC Solar - 87
SunPower, U.S. - 85
Solon, Germany - 84
Sovello, Germany - 83
Calyxo, Germany - 82
Yingli Solar, China 72 (
)
share, responded to the
organization's survey for the
scorecard
)
SoloPower, U.S. - 71
Motech Industries, Taiwan 70
()
AXITEC, Germany - 64
Fluitecnik Group, Spain - 61
Eurener, Spain - 60
(2001/4/13)
11
Home Market Transformation
If you want to win:
T f h k b ild Transform your home market to build
domestic demand and competences
Global Market Development
2000 2010 CAGR
Solar 2.5 BUSD 71.2 BUSD 40 %
Wind 4.5 BUSD 60.5 BUSD 30%
Miracle of Taiwan
What is Taiwans position: Manufacturers only?
99.4% of energy is dependant on imports (2009)
12
Oil Biomass Gas Coal Nuclear Renewables
Primary Energy
Liquids
Final Energy
Energy
E
n
e
r
g
y
E
n
e
r
g
y
b
Emission Factor is A Key
How About
Taiwans competitiveness in a world
which is to
limit and reduce global warming pollution g g p
by putting a price on carbon
13
6 6
14
2006
2006(CO2e/)
() 0.7883087
0.612 (2010)
0 5360586 0.5360586
0.504733
0.464337
0.418346
0.416424
0.403629
0.403512
0.394315
0.349794
0.341339
0.241592
0.084953
0.047966
0.025723
0.006867
2010-2011
15
Predicted Grid Parity of PV
US$/ watt
8
Cost of the
PV system
Cost down caused by the technology improvement and mass production
Grid parity may also affected by the local sun lighting and retail electricity
prices
4
5
6
7
Italy
California, USA
Germany, Japan,
Spain
France
Taiwan
29
2009 2010 2011 2012 2014 2016 2018 2020 2022 2024 2026
1
2
3 Hawaii,
USA
Australia
UK
Source: (IEK, 2010), modified from the prediction of NEDO
Price Carbon?
Need to price Power, Oil,
and Water correctly!
16
China to launch emissions trading in six regions
China will launch pilot emissions trading
schemes in six areas before 2013 and set
up a nationwide trading platform by 2015
The pilot schemes will be
deployed in cities of Beijing,
Chongqing, Shanghai, Tianjin
and the provinces of Hubei and
Guangdong.
China has pledged to reduce its
carbon intensity by 40-45% by
the end of 2020, against a 2005 the end of 2020, against a 2005
benchmark.
To meet the target, China plans
to cut energy intensity by 16%
and carbon intensity by 17%
over the 2011-15 period.
(2011/4/12)
Climate Laws Gain Currency in 16 Major World
Economies (2011/4/27)
Taiwan
SMART ?
SOLUTION PROVIDER?
in a Low Carbon Economy
17
Technological Solutions for Future
Those solutions range from telework programs
for large numbers of employees to smart for large numbers of employees to smart
buildings to dematerialization of physical
goods in favor of digital products.
The scores for each country are based on 15
criteria, ranging from the use of
telecommunications in lieu of physical travel to
incorporating smart grid or smart buildings
solutions in the national infrastructure.
Global e-Sustainability Initiative (GeSI, 2011/5/24)
IT for Sustainability
Rank Country Total Score
1 J 85 1 Japan 85
2 Denmark 65
3 Germany 65
4 Ireland 59
5 European Union 55
6 Netherlands 55 6 Netherlands 55
7 Australia 53
8 Finland 53
9 Romania 53
10 India 44
18
Pot ent i al di rect
ICT t oday about 2%of gl obal emi ssi ons
ICT: An Oppor t uni t y t o Tackl e Cl i mat e Change
2002 2007 2020
0. 5
0. 8
1. 4
An Oppor t uni t y f or Tr emendous
Pot ent i al di rect
t el ecom equi pment
energy savi ngs by 2020
0. 5
G
t
o
n
s
C
O
2
Zero Growt h Li ne
Potential Indirect Application
Examples
Smart Utilities
-7. 8
An Oppor t uni t y f or Tr emendous
Impact on Remai ni ng 98%
Source: GeSI SMART 2020: Enabl i ng t he Low Car bon Economy i n t he Inf or mat i on Age
Smart Transport
Smart Buildings
ICT can enabl e a 15%
reduct i on i n gl obal
emi ssi ons by 2020
19
Contribution to carbon reduction by others
How companies are addressing the 2% (their own emissions)
and the 98% (the contributions to reductions in society): from
the latest Gartner WWF study
ICT
http://www.gartner.com/DisplayDocument?id=1456140&ref=g_fromdoc
20
2050
40
21
Disclosure Trends
Since 2000
Sustainability Report Sustainability Report
GRI G3, Since 2000-2006
Water Disclosure
Since 2010
41
Plastic Disclosure
Project
1st survey: 2011
Clinton Global Initiative +
CDP
ESG disclosure
Environment, Society
and Governance
Bill Gates Conclusions at 2010 TED
If I have one wish for the next 50 years, it would
be energy at half the cost of todays energy with
b i i zero carbon emissions.
Then I look at the political elements that should
Conclusions at Climate Solutions'
2011 Breakfast
Then I look at the political elements that should
be in place -- for example, pricing carbon, R&D.
When I despair why we're not moving forward,
I have to think we are not being creative
enough.
22
Climate Governance Matters
Get your CEO and top management on board!
Climate Capitalism
The First Principle of Natural Capitalism
the best guides a company can use as it embraces
s stainabilit in its o n operations sustainability in its own operations
the first principle is to buy time by using all resources as
efficiently as possible
the best example of the success of efficiency is GE's use
of the Ecomagination campaign to regain the company's
status as an innovation leader
i d i i f $ Even in a down economy, Ecomagination revenues rose from $5
billion in 2005 to over $25 billion in 2010.
It enabled GE to cut its emissions by 22 percent in 2009
compared to its initial goal of 1 percent in 2004.
By 2015 GE reckons to cut the energy intensity of its operations
by 50 percent.
23
CEO of GE, Jeffrey Immelt, confirmed that
Climate Capitalism is good for the bottom line
Efficiency buys time, but unless that time is
used to redesign how businesses are run and
how products are made and delivered, no
amount of efficiency will solve the climate crisis
or enable us to create a truly sustainable
economy.
The second principle of Natural Capitalism:
redesign how we make and deliver all products
and services using approaches such as cradle-to-
cradle concepts, Biomimicry (), the
circular economy, Design for the Environment,
and others.
The third principle of Natural Capitalism:
Achieving a truly sustainable economy will g y y
also mean managing institutions so they
are not just efficient and innovative, but
also restorative of human and natural
capital.
Excerpted from "Climate Capitalism: Capitalism in the Age of Climate Change,"
by L. Hunter Lovins and Boyd Cohen, published in April 2011 by Hill and Wang, a
division of Farrar, Straus and Giroux, LLC. Copyright 2011 by L. Hunter
Lovins and Boyd Cohen. All rights reserved.
GreenBiz.com (April 11, 2011)
24
Thank You Thank You
www.bcsd.org.tw
www.wbcsd.orgg
1
Water infrastructure
Waste management
Carbon markets
Investors
Investment drivers:
Socially Responsible
Investment (SRI)
Environmental, Social and
Governance (ESG)
Public opinion
Carbon neutralization program
4
to gain competitiveness
Carbon market incentives
Climate Change Mitigation
Cleaner Technology
3
Why investing on climate change sectors is attractive?
Background drivers
Increased public interest related to climate jobs and economy
Continuous development towards the global carbon constrained economy
Long term structural changes and opportunities
International organizations continue to demand climate change initiatives
Governments determination towards climate policy is based on public demand,
i th t d j b t iti l t d t l t
Energy Security Economic Policy Industrial Policy
Market
Opportunities
5
economic growth prospects, and new job opportunities related to clean energy sectors
Science and impact on the planet will continue to be a strong pressure factor
Increasing corporate investment in footprint reduction highlights fundamental shift to
low carbon future
Market leaders
Manufacturing sector is more dependent on carbon-intensive fossil
fuels
Higher risks related to regulation, customers demand, and carbon
emissions/abatement costs
Climate Risks
Reputational risks among peers
New climate-friendly products may create substantial demand and
revenue
Emission rights potential benefits
Minimal, well-identified carbon risks and liabilities
Strong ability to meet potential losses
6
Sector Leaders
g y p
Well positioned to handle regulatory requirements
Strongly positioned to strategically capitalize on carbon-driven profit
opportunities
4
Global Investment Trend
Majority of investors see climate change as one of the most important challenges
81% of investors indicate strong investment interest in climate conscious
companies
7
Renewable investments profitability and risk
Technology development,
government policy, demand increase,
d b k t d l t and carbon market developments
lead to competitiveness of
renewable energy.
8 Source: DBCCA analysis, 2009
Different investment entry
points across project life cycle
offers various amounts of risk
and rewards to investors
5
Risk factors
Markets: Public/Private Equity or Debt, Infrastructure
Economic cycles: systemic risks, macroeconomic factors, recession
Economic/Market Risks
Economic cycles: systemic risks, macroeconomic factors, recession
Pricing/value volatility risks: price of purchase vs. value of exit or sale
Different maturity stages of new energy technologies
Hence, difference levels and sources of capital funding
Renewable energy financing subject to variable rate of the
commercialization of new technology
Technology Risks
9
Instability or lack of governing policy
Result: short-term asset mis-pricing, reluctance to deploy capital
Support necessity: many types of renewable energy investment are
not viable on their own
Political risks
Investment Considerations
Feasibility and profitability of investment broadly depends
timing, sector type, and location.
Technologies and sectors that are less dependent upon
government incentives e.g. waste and water management
and industrial efficiency
Geographic diversification will lead to portfolio diversity,
thus better distributed policy risks
New technology is growing rapidly as technical maturity
10
New technology is growing rapidly as technical maturity
increases and risks decreases
Investment environment in developing countries is getting
more conducive
6
Highest level of policy in green economy world:
CARBON MARKETS
Carbon trading creates link between investors in developed country and favors
clean technology development in developing countries
Asia has seen a steady increase in the amount of investment to clean energy in Asia has seen a steady increase in the amount of investment to clean energy in
recent years.
11
Contents
Introduction to Green Investment
Examples and South Pole's Experience
Introduction to South Pole Carbon
12
7
's effort of reducing its greenhouse gas emissions includes:
Green Investment and Carbon Offsetting
Examples
13
Example: Green Investment
Announced commitment towards carbon neutrality in 2007
$38.8 million in two North Dakota wind farms
$55 million to finance part of a 1,550 MW wind project enough to power 450,000 homes.
Cooperation with Citibank finance another 102 MW Alta IV project
1 6 MW of solar photovoltaic panels at Googles Mountain View campus 1.6 MW of solar photovoltaic panels at Google s Mountain View campus.
Plan to invest $350 million in green infrastructure projects
We believe that improving our
environmental practices is not only
our responsibility as a corporate
citizen, but good business planning
14
Robyn Beavers, Corporate Environmental
Programs Manager
8
Example: BP Alternative Energy
$5 billion investment since 2005,
in the biofuels, wind and solar
energies
15
Project examples: Current Projects Developed in Taiwan
Wind Farm Projects:
Total 300 MW Wind Farm Projects in Western Taiwan
Gold Standard VERs ca. 660000 tCO2e p.a.
Two among the projects have been successfully
registered as the first Gold Standard project in Taiwan
Hydro Power Projects:
Installed capacity 11.52 MW
16
Located in Tainan County
VCUs ca. 36,000 tCO
2
e p.a.
First renewable energy project in Taiwan that has
been verified against VCS
9
Example of offset with South Pole:
BEN & JERRY`S
BEN & JERRY`S (one of the largest ice cream company in the U.S.) buys
carbon credits from South Pole to achieve carbon neutrality for its
manufacturing sites of the ice cream manufacturing sites of the ice cream
BEN&JERRYs company purchased carbon credits from our General Starch
Waste Water Treatment in Thailand
17 Website: http://www.benjerry.com/activism/environmental/global-warming/
Example of offset: DP DHL
18 Website: http://www.dp-dhl.com/gogreen
10
Example: Peony Capital
Bill Gates funded Peony Capital
invests EUR 100 million seed capital
in CDM projects in China
Budget up to EUR 400
million for carbon
investments in China
Equity investments in SD
projects then trading the
19
carbon credits on global
market
Contents
Introduction to Green Investment
Examples and South Pole's Experience
Introduction to South Pole Carbon
20
11
STATUS DEC 1, 2009
South Pole enjoys a broad international presence South Pole enjoys a broad international presence
Head office [staff number]
Regional office [staff number]
Incorporated in July
2006
10 offices worldwide
Local presence [staff number]
Zurich [20]
Taiwan [3]
Beijing [12]
Mexico City [7]
Over 70 carbon
professionals
Projects in 18 countries
Specialized in high-
quality Gold Standard
projects
Develop both voluntary
Toronto [1]
California [1]
Istanbul [1]
Islamabad [1]
New Delhi [1]
Hanoi
Johannesburg [2]
Jakarta [8]
Bangkok [17]
e co C y [ ]
Develop both voluntary
and compliance credits
Caracas [1]
[ ]
South Pole provides the whole range of carbon asset
management solutions
22
12
We have more than 120
carbon projects under management around the globe
South Pole references rapidly growing portfolio of carbon
credit projects & extensive network of high quality buyers
Broad project
pipeline
>100 contracted projects with a total volume of more than 65 million tCO2e
until 2012
~50% are CDM projects
~40% are VCS projects
projects in advanced negotiations with roughly 30 million tCO2e until 2012
Extensive client
network
Top-rated compliance buyers, such as the Austrian Government, Climate
Cent Foundation (Switzerland), Italcementi, LUSO Carbon Fund
(P t l)
Most important
project types
Portfolio covers the main project types:
Renewable Energy (biomass,
hydro, wind)
Waste treatment (liquid and solid)
Energy efficiency
Reduction of waste gas (oil, gas
and chemical industries)
Forestry
Programmatic approach (PoAs)
network (Portugal),..
Well-known VER buyers (e.g. BP, Swiss Re, Unilever)
Unparalleled
carbon
market expertise
Participating in the UNFCCC meth panel
Involved in major climate change negotiations since 1997
Carbon advisory to international organizations (World Bank, European
Commission, World Economic Forum,..) and registered CDM projects with
a volume of 100 million tCO2e until 2012
13
Client References
Industries:
VeWong, Unilever, HSBC, Coop, PepsiCo, Boots, Tesco, Cadbury, Halifax, Coca Cola,
Kimberly Clark, The Co-operative Group, British Sugar, Danone, Continental Clothing
Company etc Company, etc.
Financial Institutions:
SwissRe, HSBC, Fortis, BP, Man Financial, World Bank, ADB, World Economic Forum, etc.
Organizations:
UNFCCC, UNEP, UNDP, CAF, Climate Cent Foundation, Point Carbon, WWF Switzerland,
etc etc.
Governmental Institutions:
DG-Environment of European Commission, Department of Trade & Industry of UK, Austrian
Government, German Post Office, Swiss Government, French Development Agency, National
Power Company of Indonesia, African Government, etc.
Interested in knowing more about offsetting?
Over 200 projects in more than 20 countries
The first, only, and largest international carbon developer
in Taiwan
World Leader in CSR projects development
26
taiwan@southpolecarbon.com
Tel. +886 4 2302 1592
www.southpolecarbon.com
2011/6/27
1
Recent Development and Policy Outlook of the carbon
market of mainland China
2011622
Agenda
Profile of National Profile of National
GHG Emissions and Energy Pattern
the National Policy and
Regional Initiatives Concerning GHG Emissions
the Gold Standard Foundation
27/06/2011
2011/6/27
2
P.R.C. voluntarily sets the target to reduce 40% - 45% GHG emissions per
GDP unit by 2020 from 2005 level. This has been defined in the 12th
national 5-year plan.
P.R.C. makes an ambitious plan in developing renewable energy. By 2020,
hydropower capacity is to reach 380 GW, twice of the capacity today;
l i t h 70 GW(GS N t N l i t ll bl nuclear is to reach 70 GW (GS Note: Nuclear is not really renewable
energy), seven times of the nuclear capacity today. Wind power is expected
to be 150 GW. Solar 20 GW and biomass 30 GW by 2020. Incremental of 40
million hectares forestation is expected by 2020.
the National Policy
and Regional Initiatives
The national plan (the official pitch): The national plan (the official pitch):
P.R.C. to take further research and actions in allocating the national carbon intensity
reduction target to various sectors and provinces.
P.R.C. to improve GHG statistics at various levels of the government. China is to
strengthen capacity building in GHG statistics, accounting and evaluating
(performance of regional government departments).
To invest in low-carbon technologies, especially industrial sectors, building sector and
transportation. P.R.C is to run pilot projects in five low carbon provinces and eight
low carbon cities.
To explore low carbon certification in certain products. And to kick off pilot projects in
low carbon certification. (As I understand it refers to certification of GHG emissions
from production processes, i.e. the carbon footprinting)
2011/6/27
6
the National Policy
and Regional Initiatives
The national plan (the official pitch): The national plan (the official pitch):
Law making and standards developing concerning GHG and climate change. China is
to build managing system in limiting GHG emissions and to start pilot projects in
certain sectors. (Here the standard refers to setting benchmark of GHG emissions in
certain sectors and products)
To research on feasibility and best timing and circumstance for introducing carbon tax.
The purpose of the CDM shall be to assist Parties not included in Annex I in achieving
sustainable development and in contributing to the ultimate objective of the Convention and sustainable development and in contributing to the ultimate objective of the Convention, and
to assist Parties included in Annex I in achieving compliance with their quantified emission limitation
and reduction commitments...
-- Kyoto protocol, Article 12.2
2003WWF
27/06/2011
2011/6/27
8
23 Permanent Staff
Daily Management of GS Activities
Project & Meth Reviews
Capacity Building
Registry Management
Budget Oversight
Ultimate Control Over GS Brand
GS TAC
External Validation
DOE
Matt Spannagle,
UNDP MDG CF
Narendra Paruchuri,
Rutger de Witt Wijnen, DBBW
Shelagh Whitley, CAMCO
Jrg Grtter,
Grtter Consulting
Liam Salter,
Reset
Steve Thorne,
SouthSouthNorth
Rob Fowler,
RM(1)
RM (1)
Narendra Paruchuri,
EnrGHG
RM(1)
RM(2)
RM(2)
POC
POC
POC
Alexia Kelly, US State Dept, Clmt
change office
27/06/2011
Rob Fowler,
Booz & Company Ltd.
2011/6/27
9
GHG Offset with Gold Standard Credits
27/06/2011
Thank You
Leon Wang
Regional Manager China and East Asia
The Gold Standard Foundation
leon@cdmgoldstandard.org
http://www.cdmgoldstandard.org
The Gold Standard- Premium quality carbon credits
1
22 June 2011
2
3 Bureau Veritas Certification 2011
(cost effectiveness)the
lowest cost
3
5 Bureau Veritas Certification 2011
630
(14)
(5 11)
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(1922)
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2930
6 Bureau Veritas Certification 2011
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PDD
TAFTAF
TAF
11
21 Bureau Veritas Certification 2011
CDM
CDM
BV
12
23 Bureau Veritas Certification 2011
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UKASTAFANAB
IIOC
RvA UKAS ISO 14001
ISO 22000
QS 9000(QS9000TS16949)
IRCA AS 9100
SA 8000
VCS
IIOC(Independent International Organization Certificate)
BV
BV
BV
24 Bureau Veritas Certification 2011
BV
BVIIOC IAFIAF
( IAF)
ISO/TC 176ISO/ TC 207
ISO 9001 ISO 14001
1995ISO 14001BVBSMI
BS7750
BV
BV
13
25 Bureau Veritas Certification 2011
Thanks for your attention!
Bureau Veritas Certification (Taiwan)
LTM
Joseph Chang
TEL: 02-25707655 ext. 205
Email: chei-fan.chang@tw.bureauveritas.com
www.bv-cert.com.tw
www.bureauveritas.com.tw/scs
26 Bureau Veritas Certification 2011