New emissions trading simulations for Europe
European companies will be able to take part in a series of new emissions trading simulations, giving them an insight into the practicalities and ramifications of any future emissions trading regimes.
The simulations will incorporate virtual markets in CO2, electricity, renewable energy, coal, gas and oil, for multiple countries and are designed to give users an insight into the interactions between the commodities. Participating companies should also be able to see the effect that different national emissions trading regimes have for the development of the global CO2 market, and the implications that this has for corporations with operations in multiple jurisdictions.
“The simulations help businesses to answer some critical questions, such as: Does trading assist in meeting the emissions reduction targets? What trading strategies are most effectively employed? What are the ramifications of different trading rules and regimes? How do different industries respond to the challenge? And where do we go from here?” said Craig Windram, Chief Executive Officer of CO2SIM, the company organising the simulations.
Trading takes place online, with up to 100 participants at a time, and companies taking part can use either their own emissions profile and abatement strategy, or to trade as a hypothetical company.
The European simulations will take place in April, June and October, with separate simulations for Australia, Canada and Japan also taking place throughout the year. There will also be a free trading simulation on 8 February for NGOs, including universities and ‘think tanks’.
Craig Windram has already run a number of simulations in Australia (see related story).