International emissions trading association established
The International Emissions Trading Association (IETA) was established in Geneva on 30 October 1998, as an independent, non-profit, industry-led organization dedicated to advancing international co-operation in emissions trading, sponsored by UNCTAD and the Earth Council.
IETA’s main objective is to serve as a forum for the exchange of ideas, information and experience relating to international greenhouse gas emissions trading, and as a vehicle for greenhouse gas emissions trading among its members. IETA intends to develop a system of accreditation in support of emissions trading among its members, to act as a depository of relevant documentation and provide a forum for arbitration and mediation.
Membership is open to companies, government agencies, industry associations, international organizations, environmental non-governmental organizations, and individuals. The association’s inaugural meeting will be convened in Buenos Aires on 12 November 1998.
The establishment of the IETA is intended “to strengthen the institutional capacity of the private sector to assist governments to design and implement a comprehensive, stable and efficient greenhouse gas emissions trading system”. It will draw upon and complement the growing number of emissions trading schemes (such as BP’s internal emissions trading scheme) in helping to prepare for a smooth launch of the international emissions trading market in 2008.
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