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The Carbon Market Workshop, organised by the European Commission and the European University Institute, brought together policymakers from carbon markets worldwide – California, Canada, China, EU and New Zealand – as well as academics and NGO representatives.

The participants provided an update on most recent developments in their respective carbon markets and discussed with a panel of experts future perspectives of carbon market cooperation. They also presented experiences and discussed potential future roles for the use of offsets.

Jos Delbeke, the European Commission's Senior Adviser for Relations with the Florence European University Institute, said: "There is a lot of scope for exchange, mutual learning and enhanced cooperation between carbon markets."

Beatriz Yordi, director responsible for European and international carbon markets at the European Commission's Directorate-General for Climate Action, added: "The Florence process offers a unique forum for such exchange with a view to fully exploit the potential for further development, strengthening and convergence of carbon markets worldwide."

The main objectives of the Florence Process are to collect and disseminate empirical knowledge and information on the functioning of emissions trading systems worldwide, establish a network bringing together ETS experts, and create a forum enabling interaction amongst policy makers and ETS experts.

Read more:

• Carbon Market Workshop, May 2018
• Carbon Market Workshop, September 2017
• EU Emissions Trading System