Emissions Trading

Macquarie University Applied Finance Centre
Sydney, NSW, Australia

Course Format: Classroom | E-learning | Virtual Class | Online/Live | On-site/In-house | Blended | Self-paced

Course Description:

'' As climate change has emerged as one of the critical issues of our time, emissions trading has emerged, both in Australia and globally, as arguably the preferred policy tool to achieve cuts in greenhouse emissions. There is now much focus on the emergence of a domestic cap-and-trade emissions trading scheme to commence by 2010; this market is expected to be worth around $20 billion annually by the end of the next decade. This course, designed for finance professionals, is designed to bring participants up to speed with the emerging domestic and global carbon markets.

Detailed Outline
1.Setting the scene
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Current state of international and Australian policy debate, including outcomes of Garnaut Review and the White Paper
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Australian and global emission projections; McKinsey’s global carbon abatement curve
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Tax vs trading debate
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Emissions trading basics
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Case Studies: US SOx & NOx, EU ETS (what worked what didn’t), overview of prices
2.Assessing carbon exposure / liability
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How to determine your carbon footprint, as an individual, as a company
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Understanding the sources of liability in a carbon-constrained world
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Understanding the opportunities: your carbon abatement curve
3.Baseline and credit schemes; International Trading
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Kyoto instruments (CDM, JI)
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Australian instruments (RECs, NGACs, GECs, VRECs, NRECs, VEECs)
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International linkages
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The voluntary carbon market: offsets, additions, instruments, prices, volumes, trends
4.Cap-and-trade scheme design and implementation
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Key issues in the design of the Australian emissions trading scheme:
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Permit allocation, liability, coverage, target setting, vintages, banking/borrowing
5.Capital markets response to emissions trading
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Emergence of financial markets; dynamics of carbon trading
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Advancements in linkage of investment strategies with carbon risks
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Incorporating carbon risk into equity market analysis, debt rating and project financing
6.Emissions Trading Simulation
An emissions trading simulation will be run during the course; that is, lecture material will be interspersed with simulation activities. It is designed to illustrate the decision-making processes required in a carbon-constrained world, exploring such issues such as the setting of targets, permit allocation, carbon price discovery, permit ‘vintages� and monetising abatement projects. This will be a group exercise where each group role plays a critical part of the economy. ...''

Elements of this syllabus are subject to change.

Phone:+61 2 9850 7111

School Address/Venue(s):

Macquarie University
Balaclava Road, North Ryde,
New South Wales
2109 Australia


Jobs & Resumes: Sydney
Houses & Roommates: Sydney
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