Press Release: OECD: Portugal

Correspondent: Financial Times, Judy Perpose

PORTUGAL — The Portuguese Republic would like to official announce our wish to create an international exchange of emission permits (IEEP) with four main purposes:

  1. Create a framework to identify Quality ETS systems and Secondary ETS Systems
  2. Facilitate all international trade of permits, setting the market price of Quality ETS systems
  3. Manipulate permit markets in cases of financial crises to prevent a liquidity trap, like monetary policy
  4. Responsible for frequently auditing ETS systems to determine whether Quality ETS systems remain at that level and whether secondary  ETC can be appropriately labeled as quality
  5. Any proceeds collected by IEEP will be used to fund implementations of Market based solution in willing countries
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