Webinar Series: Unpacking Fit for 55

Understanding the Carbon Border Adjustment Mechanism

To help market participants understand how the Carbon Border Adjustment Mechanism (CBAM) will impact them, ICE hosted a webinar with leading energy expert Dr. Michael Mehling, Deputy Director at the Center for Energy and Environmental Policy Research at Massachusetts Institute of Technology. In the webinar, we outlined what the CBAM is, what actions companies need to take to prepare and how they can hedge their risk.

Duration: 45 minutes (including Q&A)

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Speakers

Dr. Michael Mehling

Deputy Director at the Center for Energy and Environmental Policy Research, Massachusetts Institute of Technology

Dr. Michael Mehling is Deputy Director of the MIT Center for Energy and Environmental Policy Research and a Professor at the University of Strathclyde Law School. He is also a non-executive director with Ecologic Institute in Berlin, a Manager of the Konrad-von-Moltke Fund in Berlin, and a founding board member of Ecologic Institute in Washington DC, the Blockchain & Climate Institute (BCI) in London, and the European Roundtable on Climate Change and Sustainable Transition (ERCST) in Brussels.

In his work, Michael focuses on comparative and international climate policy design and implementation, including its intersections with environmental, energy, and trade policy. On these topics, he has coordinated research projects for international organizations, government agencies, private companies and civil society organizations in North America, Europe, and the developing world. He has advised decision makers in over a dozen countries, testified before or briefed legislators in the United States, the United Kingdom, and the European Union, and served as an expert in several climate litigation cases.

George von Waldburg

Director, Utility Markets, ICE

George von Waldburg is Director, Utility Markets at ICE Futures Europe, previously being Director, Emissions Markets. He is responsible for sales and market development of ICE’s European carbon portfolio.

George joined ICE through the acquisition of the Climate Exchange Group Plc in 2010, which operated environmental exchanges including the world’s first carbon market; the Chicago Climate Exchange. As Business Development Manager, European Climate Exchange, he was responsible for sales of the world’s largest compliance and voluntary carbon markets. He previously worked in business development roles for Venture Capital Management, Sal. Oppenheim, and the London Stock Exchange.

He holds an Investment Management Certificate from the CFA Institute and a BA (Hons) degree in Business Administration from the European Business School.

Navigating EU ETS for Maritime & Aviation

From 2024, shipping will be included in the EU Emission Trading Scheme (EU ETS) for the first time, and free allowances to aviation will become phased out. ICE with guest speaker Peter Zaman, Partner at HFW held a webinar to explain what inclusion in the EU ETS means for maritime and aviation companies, how they can prepare, and what solutions are available to hedge carbon price risk.

Duration: 45 minutes (including Q&A)

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Speakers

Peter Zaman

Partner, HFW

With over 20 years' experience as a transactional lawyer, Peter's practice spans climate finance, commodities, derivatives and structured products. His rare combination of commodities and climate finance expertise enables him to provide a holistic view and skillset that is crucial to support businesses in their energy transition. He has been active in climate finance and environmental products markets since 2004. He has experienced all the 'ups and downs' of carbon markets in the EU ETS, under the Kyoto Protocol, in the pilot markets in China, the voluntary markets, UERs, RECs, ROCs and the Article 6 markets under the Paris Agreement. Having worked in both the European and now Asian markets, and having both buy-side and sell-side experience, working with Peter always carries the benefit of his unique perspective and experience.

For his commodity work, Peter advises on all aspects of over-the-counter, exchange-traded and structured energy derivatives and commodities, including netting, collateral management and regulatory issues. His commodity product suite includes LNG and natural gas, base metals, precious metals and power. He is an active member of a number of industry groups including at ISDA and IETA. He is also part of the UNIDROIT working group on 'The Legal Nature of Voluntary Carbon Credits'.

George von Waldburg

Director, Utility Markets, ICE

George von Waldburg is Director, Utility Markets at ICE Futures Europe, previously being Director, Emissions Markets. He is responsible for sales and market development of ICE’s European carbon portfolio.

George joined ICE through the acquisition of the Climate Exchange Group Plc in 2010, which operated environmental exchanges including the world’s first carbon market; the Chicago Climate Exchange. As Business Development Manager, European Climate Exchange, he was responsible for sales of the world’s largest compliance and voluntary carbon markets. He previously worked in business development roles for Venture Capital Management, Sal. Oppenheim, and the London Stock Exchange.

He holds an Investment Management Certificate from the CFA Institute and a BA (Hons) degree in Business Administration from the European Business School.

Implications of ETS 2 for Buildings and Road Transport

As part of the EU’s "Fit for 55" package, the scope of the EU Emissions Trading Scheme (ETS) will be extended to include emissions from fuels used in buildings, road transport, and certain industrial sectors not already covered.

With legislation slated to take effect in 2027, impacted sectors face new requirements. To help market participants understand these changes, ICE held a webinar to discuss what actions companies can take to prepare and how they can hedge their risk. We were joined by leading economist and energy expert Michael Pollitt, Professor of Business Economics at Cambridge Judge Business School.

Duration: 45 minutes (including Q&A)

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Speakers

Michael Pollitt

Professor of Business Economics, Cambridge Judge Business School

Professor Pollitt is a member of the editorial boards of The Energy Journal, Review of Industrial Organization, Competition and Regulation in Network Industries, Energy and Climate Change, Economics of Energy and Environmental Policy and Utilities Policy. He is also a Research Associate at the Centre for Business Research (CBR). He is the elected Vice President for publications of the International Association for Energy Economics (IAEE) for 2020-2023. He is also an Academic Co-Director at the CERRE Centre on Regulation in Europe. Michael is a research affiliate of the Center for Energy and Environmental Policy Research (CEEPR) at MIT and a Fellow of The Payne Institute for Public Policy at the Colorado School of Mines. Since 2000 he has been convenor of the Association of Christian Economists, UK.

Professor Pollitt has advised the UK Competition Commission, the New Zealand Commerce Commission, Ofgem, Ofwat, ESRC, the Norwegian Research Council, the DTI, the World Bank and the European Commission. He has also consulted for National Grid, AWG, EdF, Eneco, Nuon, Roche and TenneT. He is the Coach on the Cambridge MBA’s Energy & Environment concentration. He is Assistant Director of the Energy Policy Research Group, a member of the Energy Interdisciplinary Research Centre and a member of the Cambridge Corporate Governance Network.

George von Waldburg

Director, Utility Markets, ICE

George von Waldburg is Director, Utility Markets at ICE Futures Europe, previously being Director, Emissions Markets. He is responsible for sales and market development of ICE’s European carbon portfolio.

George joined ICE through the acquisition of the Climate Exchange Group Plc in 2010, which operated environmental exchanges including the world’s first carbon market; the Chicago Climate Exchange. As Business Development Manager, European Climate Exchange, he was responsible for sales of the world’s largest compliance and voluntary carbon markets. He previously worked in business development roles for Venture Capital Management, Sal. Oppenheim, and the London Stock Exchange.

He holds an Investment Management Certificate from the CFA Institute and a BA (Hons) degree in Business Administration from the European Business School.

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Unpacking Fit for 55

Understanding the Carbon Border Adjustment Mechanism

Speakers

Navigating EU ETS for Maritime & Aviation

Speakers

Implications of ETS 2 for Buildings and Road Transport

Speakers

How ICE can help