Well-designed, administered, and utilized emissions trading systems (ETS) cap and cut climate pollution, harness the power of market forces to drive pollution down, spur investment into innovative technologies, and contribute to economic growth.
The nature and magnitude of these benefits is a function of program design, administration, and the aptitude of those who administer and are subject to the ETS. That's where EDF's carbon market simulation tool – CarbonSim – comes in.
CarbonSim is an artificial intelligence-enhanced, multi-lingual, multi-user, software application that teaches the principles of emissions trading and brings markets to life. ETS program administrators benefit because it demonstrates that program results are driven by design choices made by policymakers. Industries benefit because it demystifies how to develop and implement a carbon portfolio management strategy.
ETS by choice, results by design
CarbonSim provides ETS policymakers, regulated companies, NGOs, and the public – with means to train key staff, gain risk-free experience, and collaborate with each other to maximize program benefits. Through experiential and collaborative play, stakeholders come to understand the power and limits of environmental markets and, in the process, become more effective advocates. CarbonSim exercises have been run around the world including in cities throughout China and Mexico, as well as Bangkok, Barcelona, Boston, Durham, New York, Pyeongchang, San Francisco, Santiago, Seoul, and Washington DC.
"CarbonSim is a fabulous tool that teaches the principles of emissions trading, demystifies how to develop and implement a carbon portfolio management strategy and demonstrates that results are driven by design," says Dan J. Dudek, one of the world’s leading experts on market-based policies to reduce pollution at the least cost, and former EDF Vice President, Asia.