Climate Strategies, The Korean Environment Institute and DIW Berlin conveyed an event on Emission Benchmarks. The event took place at KEI, South Korea in early October. This event was part of a series of workshops related to the CS project on the Inclusion of Consumption in the ETS.
In a world of differentiated carbon prices, carbon leakage protection will continue to play an important role in climate policy. Most approaches of carbon leakage protection in carbon intensive materials involve the use of benchmarks. However, determining the appropriate benchmark has raised questions on methodology and data availability and quality. It is the aim of this workshop to learn from the past experience across regions with setting benchmarks for carbon intensive materials sectors and to explore how international cooperation can support the design of benchmarks used different approaches for carbon leakage protection such as Inclusion of Consumption of selected carbon intensive materials in carbon pricing schemes. More specifically, the workshop adressed the following issues:
1. Defining benchmarks
2. Benchmarks and innovation
3. Impact on corporate decision making
4. Opportunities for international collaboration
5. The use of benchmarks for leakage protection in particular in the context of inclusion of consumption