Carbon Markets Fundamentals for Industry Participants

To be held on the afternoon of April 17th, this intensive half-day primer will provide market participants with a broad understanding of the fundamentals of carbon markets. The course is designed for new industry participants who need to understand the characteristics of carbon markets, carbon credits, offset protocols and industry participation.


Opening Reception

The 2nd Ontario Cap and Trade Forum Opening Reception. Open to all participants. Venue to be announced shortly


Coffee & Registration


Chair’s Opening Remarks

Adrienne Baker, Director, Canadian Clean Energy Conferences


9:00 Opening Keynote: Progress for Cap and Trade in Ontario

The Honourable Chris Ballard, Minister of the Environment and Climate Change, Government of Ontario


Session 1: Ontario Industry Leaders: Cap and Trade Challenges and Opportunities

Chair: Tyson Dyck, Partner, Torys

Fiona Oliver-Glasford, Senior Manager, Carbon Strategy and Integrated Resource Planning, Enbridge Gas Distribution

Mary Quintana, Energy and Carbon Manager, Western University

Francois Abdelnour, Energy Director, Ivaco Rolling Mills

Bill Murphy, Environmental Superintendent, AV Terrace Bay


This session will bring together senior representatives heading carbon strategies for Ontario companies to discuss current and future challenges and opportunities under cap and trade.

  • What are the top concerns for Ontario participants at this stage of the program?
  • How are compliance processes and best practices evolving?
  • What tools and resources have been most useful in developing carbon strategies?
  • How is uncertainty around the post-2020 landscape impacting business planning?
  • What key information on the post-2020 rules would allow participants to develop plans?
  • What would be assist to better identify opportunities in the secondary market?
  • Key takeaways from the first combined auction with Quebec and California
  • How is political uncertainty impacting carbon strategy development?
  • What are the next steps for Ontario participants in evolving their cap and trade plans?

Audience Q&A


Key Updates and Next Steps for Ontario’s Cap and Trade Program

  • Current milestones and next steps for Ontario’s program
  • Anticipated timeline for post-2020 rules consultations and market design
  • Understanding the evolution of offset credits and protocol

Networking Break


Session 2: Cap and Trade a Year On: Participants’ Experiences and Impacts

This session will provide critical insight from Ontario participants on their experiences of cap and trade and how the program is shaping corporate strategies and planning.


Case Study: Analyzing the Impacts and Outcomes of Cap and Trade

Fred Post, Environment Control, Essar Steel Algoma

  • Weighing the pros and cons of program participation one year on
  • What key developments have been a direct result of program participation?
  • How is cap and trade driving energy and climate strategies internally?

Case Study: Who to Speak to and How to Talk About Cap and Trade

Lauren Mulkerns, Environmental Manager, Brampton Brick

  • What were the challenges in understanding the new rules of the game early on?
  • Developing an internal communications strategy and network of useful resources
  • Next steps in identifying carbon savings opportunities

Audience Q&A


Session 3: Market Developments and Experiences for CA and QC Participants

Linkage to the WCI increases the relevance of market design developments in California and Quebec. This session will provide essential updates from California and Quebec regulators on key market developments and impacts for market participants.


California’s Post-2020 Market Design and Impacts for Large Emitters

  • Next Steps for California’s post-2020 cap-and-trade regulation
  • What sort of feedback has been received from large emitters on post-2020 rules?
  • Next steps in finalizing California’s post-2020 regulation

Key Developments for Quebec Cap and Trade Participants and Regulation

  • Next steps in establishing the 2021-2023 rules for allocating free emissions
  • An overview of key program outcomes and participants’ experiences
  • Updates on recent developments for the post-2023 market design

Audience Q&A with WCI Cap and Trade Administrators


Networking Lunch


Session 4: What does WCI Linkage Mean for Ontario Industries and Post-2020 Rules?

Along with creating a much bigger market, linkage to the WCI will result in changes for Ontario participants and influence market design. This session with provide expert analysis on what linkage means for Ontario industries and how developments in Quebec and California will likely shape post-2020 rules in Ontario.


CA and QC Post-2020 Regulations and Likely Impacts for ON Companies

JP Brisson, Partner and Co-chair, Air Quality & Climate Change Practice, Latham & Watkins

  • An overview of CA and QC regulations and key outcomes for Ontario emitters
  • How are these market developments expected to influence post-2020 rules for Ontario?
  • What can Ontario entities do now to prepare for the next phase of the program?

Panel: What does WCI Linkage Mean for Ontario Industries and Post-2020 Rules?

Andre Templeman, Founder and Principal, Alpha Inception

  • How has linkage affected Ontario participants – what are the main benefits and potential drawbacks?
  • Beyond the auction, what program areas are expected to be harmonized?
  • What does linkage mean for carbon allowances and offsets – are they fully fungible?
  • Are carbon offset rules and restrictions expected to be further synthesized?
  • How much is Ontario expected to follow California’s post-2020 regulation?
  • Are key decisions on cap decline factors, pricing and free allowances expected to continue to be set by each jurisdiction?
  • Experts views on how California’s implementation of a price ceiling could affect Ontario and Quebec – is this expected to be harmonized?
  • What are the current expectations for WCI linking to international carbon markets?

Q&A with Audience


Session 5: Lessons Learned in Preparing for the 2018 Compliance Deadlines

By November 2018, Quebec and California emitters must have purchased all the allowances and offsets to cover their obligations for the 2015-2017 period. This compliance deadline doesn’t arrive for Ontario entities until 2021, however, strategies must be in place well beforehand. This session will offer case studies from California and Quebec participants on preparing for compliance readiness.


Developing Strategies and Systems to Manage Compliance across Markets

Tracy Kayhanfar, Senior Director, Environmental Management, ConAgra Foods

  • Managing compliance across 30 sites and meeting obligations under in CA, QC and ON cap and trade programs
  • What processes are useful to put in place well ahead of the compliance deadline?
  • What would be useful for Ontario participants to consider in preparing for 2021?

Managing Cap and Trade Compliance and Carbon Best Practices

Frederic Picard, Climate Change Director, Rio Tinto

  • Rio Tinto’s experience of implementing cap and trade compliance across multiple sites
  • Lessons learned in developing and realizing carbon best practices
  • Preparing for Quebec’s next cap and trade compliance period in November 2018

Networking Break


Session 6: How to Include Offsets in Your Carbon Strategy

Carbon offsets are expected to play a key role for Ontario market participants in meeting compliance obligations. With the final rules still under development, this session will offer insight from carbon offset experts on developing a strategy to meet compliance obligations and beyond.


Case Study: Key Considerations for Offset Investments

Karen Clarke-Whistler, Chief Environment Officer, TD Bank Group

  • Identifying carbon offset project priorities and goals
  • Lessons learned from investing in projects with social partners
  • Communicating the benefits of offset projects as part of carbon strategy

Panel Discussion: Offset Updates and Strategies

Craig Ebert, President, Climate Action Reserve

Malcolm Cockwell, Managing Director, Haliburton Forest

  • What do recent offset protocol developments mean for cap and trade participants?
  • How can large emitters take advantage of the opportunities in Ontario’s offset market?
  • How can companies determine the number and types of offsets to invest in?
  • What offsets are currently available in Ontario and how are they being registered?
  • What are the pros and cons of investing directly in projects versus buying offset credits?
  • What does the WCI linkage mean for the offset market — will there be enough supply?
  • Which buying options from California offsets are most attractive to Ontario companies?
  • What does California’s decision to disallow millions of non-California offsets mean for the Ontario market?
  • What are the key steps for Ontario companies in ensuring an effective offset strategy?

Q&A with Audience


Session 7: Navigating the Secondary Market: Identifying Opportunities and Options

One of the key challenges for Ontario participants is understanding the various options and transaction possibilities provided by the secondary market. Buying carbon credits quarterly is one compliance root. However, the market has quickly evolved to offer sophisticated products and services that capitalize on market opportunities while meeting program requirements. This session will explore how to navigate the secondary market.


What Ontario Participants Need to Know about the Secondary Market

Michael Berends, Head of Carbon Sales, ClearBlue Markets

Nicolas Girod, Head of Trading and Research, ClearBlue Markets

  • What’s changed since program launch: new products, new services and new strategies for the secondary market
  • Insight on secondary market supply and demand and market behaviour
  • Key steps in identifying the best options for participating in the secondary market

Panel: Navigating the Secondary Market: Identifying Opportunities and Options

Janet Peace, Senior Vice President of Policy and Business Strategy, Center for Climate and Energy Solutions (C2ES)

  • What are the main drivers for participating in the secondary market?
  • What are some of the biggest challenges in identifying a strategy for the secondary market?
  • What lessons have companies learned from participating?
  • What recent market developments should participants be most aware of?
  • What needs to happen to better facilitate the market for private transactions between entities?
  • How is the role of the secondary market expected to evolve — will this alternative become essential for meeting compliance obligations as auction become more crowded?

Networking Drinks


Breakfast Briefing: Implementing Nova Scotia’s Cap and Trade Program

Jason Hollett, Executive Director of Climate Change, Nova Scotia Department of Environment

Nova Scotia is in the process of finalizing the design of its cap and trade program which will include participation from around 20 companies. This breakfast briefing will provide updates on program implementation and critical insight from industry leaders expected to participate in this developing cap and trade program.


Keynote: Next Steps for Nova Scotia’s Cap and Trade Program

  • What are the key differences with this program versus other jurisdictions?
  • Who will be included and what are the current plans for free allowances?
  • What feedback has industry provided and what are the next steps?

Panel Discussion: Preparing for Nova Scotia’s Cap and Trade Program

Robert Cumming, Director of Environment, Lafarge Canada

  • What are companies’ main concerns and challenges with cap and trade?
  • How does industry view the key elements of the program design including cap setting, free allowances, compliance options, offsets, etc.?
  • What are the pros and cons of not linking to other jurisdictions?
  • What key liabilities and business risks have companies identified under the program?
  • How are participants organizing internally to prepare to comply with the legislation?
  • What further program information do companies need to begin to plan effectively?
  • Beyond the initial period of free allowances, what would industry like to see in terms of protection against carbon leakage?

Audience Q&A


Networking Break


Opening Remarks


Keynote: Developing a Global Approach to Carbon Strategy


Session 8: Analyzing the Feasibility of Carbon Policy Change in Ontario

Robyn Gray, Vice President, Energy and Environment Practice, Sussex Strategy Group

Mark Cameron, Executive Director, Canadians for Clean Prosperity

Greg Lyle, Owner, Innovation Research

Glen Murray, Executive Director, Pembina Institute

Election uncertainty is a key challenge for cap and trade participants with the official opposition campaigning to end cap and trade and move to a carbon tax. This session will bring together legal, political, and carbon market experts to offer informed views on what the election could mean for climate policy and the feasibility of backing out of cap and trade.

  • How is the election impacting carbon pricing and success strategies for Ontario industries?
  • How is voter support for cap and trade and the current climate policy tracking in the polls?
  • How is the current government positioning the success of the program?
  • Would it be possible for Ontario to exit the WCI at this stage – and if yes, what would need to happen?
  • Experts views on how a major policy change would impact Ontario participants
  • What role would the federal backstop play in if there was a move to taxation?
  • What advice would experts offer companies looking to position themselves for success in this market?

Audience Q&A


Networking Break


Session 9: Contextualizing the Federal Backstop for Cap and Trade Participants

The Canadian government is finalizing plans to introduce a national carbon price of $10 a tonne in 2018, rising by $10 per year until reaching $50 per tonne in 2022.  A federal backstop will be applied to jurisdictions that do not have a carbon pricing regulation in place that meets this benchmark. This session will offer updates and expert insight on how the backstop fits with provincial cap and trade programs in Ontario and Quebec.


Key Developments and Potential Implications of the Pan-Canadian Carbon Price

Kathleen Rich, Director, Environment and Climate Change Canada

  • Understanding how the Pan-Canadian legislation fits with cap and trade in ON and QC
  • Next steps in introducing a national price on carbon
  • How does this framework fit with international carbon market developments?

Putting the Backstop into Context for Cap and Trade Participants

Lisa DeMarco, Senior Partner, DeMarco Allan

  • What do companies need to understand about the federal backstop?
  • What is the latest update on different provincial carbon pricing plans?
  • How will the federal backstop impact Ontario and Quebec markets?

Audience Q&A


Session 10: International Carbon Markets: What Industry Needs to Know

Katie Sullivan, Managing Director, International Emissions Trading Association

Janet Peace, Senior Vice President of Policy and Business Strategy, Center for Climate and Energy Solutions (C2ES)

Key developments in and potential new alliances between international carbon markets could impact rules, pricing and offset mechanisms for cap and trade participants in Ontario and Quebec. This session will provide a synopsis of the most relevant global developments for Ontario and Quebec industries and how they fit with cap and trade.

  • What key developments in international carbon markets are most pertinent for cap and trade participants in Ontario and Quebec?

  • What is the relevance of Article 6 of the Paris Agreement and how is it evolving?

  • What is the latest update on and potential impacts of collaboration between California and European carbon markets?

  • What other linkages between carbon markets could affect ON and QC large emitters?

  • What are some of the potential risks and challenges of linking markets internationally?

  • What are the pros and cons of Quebec’s plan to link price to international markets post-2023 and how could it affect pricing in Ontario?

  • What should industry watch for in terms of the next steps in global carbon markets?


Audience Q&A


Networking Lunch


Session 11: Next Steps in Carbon Strategies and Emissions Reductions

Ian MacPherson, Director of Market Solutions & DSM, Enbridge Gas Distribution

Carbon pricing in Ontario has become a strategic driver for corporate change and innovation at both operational and management levels. This session will bring together those heading carbon strategies for Ontario participants to discuss the impacts of carbon pricing and the next steps in evolving their carbon plans.

  • How is carbon pricing driving change internally at both operational and corporate levels?
  • What are the key elements of current carbon strategies under cap and trade?
  • How are these expected to change in the near-term and what is influencing that change?
  • How is cap and trade driving carbon reduction goals and technology investments?
  • What barriers do companies see for further reducing their carbon exposure?
  • What options are participants exploring to drive down emissions?
  • What program developments would help support companies to meet their carbon goals?

Audience Q&A


Session 12: TED-Talks: What does a $50 carbon price look like for my company?

Session Chair: Mike Szabo, Correspondent and Co-Founder, Carbon Plus

This session will bring together carbon leaders to present four 5-minute TED-Talks on what a $50 a tonne carbon price would mean for their organization. These TED-Talks will be followed by a broader, interactive audience discussion on this topic.


TED-Talk: What Would a $50 a tonne Carbon Price Mean?

Michael Kandravy, Director of Fuels Quality & Regulatory Affairs, Suncor


TED-Talk: What Does a $50 Carbon Price Mean for Industry?


TED-Talk: What Would a $50 a tonne Carbon Price Mean for Businesses?


TED-Talk: What Does a $50 Carbon Price Mean for My Company?


Interactive Audience Discussion


Closing Remarks