ࡱ> q` `lbjbjqPqP .:::d%"I"I"I8ZIvI,hjKK"KKKKKKthvhvhvhvhvhvh$_jhlrhGTKKGTGThKKh]]]GTdKKth]GTth]]d``KK ѫ."IZ|``h0h`,9m;\9m`9m` K|LN]Pl~QKKKhh/]XKKKhGTGTGTGT$C"I"I CDM Gold Standard Seminar-Philippines Open Forum/Panel Discussion Transcripton 29-30 August 2006 Walter Hogan Conference Center, ISO, Social Development Complex Ateneo de Manila Campus, Loyola Heights, Quezon City 29 August 2006 WELCOME & INTRODUCTIONS Susan E. Roxas, WWF-PhilippinesSUSTAINABLE ENERGY OPPORTUNITIES IN THE PHILIPPINES Rafael Senga, WWF-PhilippinesINTRODUCTION TO CDM Manuel Fuentes, IT PowerINTRODUCTION TO GOLD STANDARD CDM Jasmine Hyman, Gold StandardUPDATES ON CARBON MARKETS & TRENDS Manuel Fuentes, IT PowerThere was a link between the CERs and CDM registered activities. Does it mean that if your CER is created in Bonn, it will under the EU scheme.Yes, what EU will buy from you will be CERs. Investment companies will buy reduction and trade in Europe. CERs are traded. What industries are now listed per country? Steel, cement, power generation industry. It varies from country to countryGuy Tolentino If a projects implemented and actually sold, is it sold once only? Is the value only for the given year when it was reduced?  When the company buys your CER, they can do whatever they want with it. As a project developer, you sell to only one CER. Project generates credits every year. Please clarify why the US is in the carbon market  Different States in the US can fix their own targets/legally bound targets. Some cities volunteer own initiatives for reduction and this is the reasons why such institutions like the Chicago Carbon Fund and others exist CDM STATUS IN THE PHILIPPINES Joyceline A. Goco, DENR-EMB (CDM DNA Secretariat)Arnold Bufi, EcoSecurities I am surprised with the 15-20 days period of approval Do you have anything similar to the Environmental Management Bureau (EMB) policy of automatic Environmental Compliance Certificate (ECC) issuance after 75-120 days of no-reply?  As of now, we dont have any rule on automatic approval that issues from delayed reply for DNA. I dont think that can be allowed.Will the EMB require a new ECC on projects that already primarily focus on environmental enhancement?It depends on the process involved. It can either be a ertificate of Non-Coverage (CNC), an IEE, or EPM. Either way, you still have to go through the process and prove that what is done is for the benefit of the environment. Whats the role of the Designated National Authority (DNA) when the CERs are actually received?  We handle issuance of the letter of approval and the monitoring of the sustainable development (SD) benefits although its not yet indicated in the IRR. The DNA also helps you how to archive monitoring data.  What is the process of making sure that the CERs are collected and not sold knowing that it is already a tradable document.  CERs will be recorded in a registry by country. If a company is in a country recognized by the DNA, you can open a sub-account under the Philippine account. That is why proof of legal capacity is important. Susan E. Roxas, WWF-Philippines How does the DNA obtain a workable picture of the SD benefits that a project claims to provide?  What we are telling the proponent is to put, if possible put quantitative components of the SD benefits of a project. We get a map of the site to get an idea of what the community is like and we also get proceedings of consultation.  In addition to proof of legal capacity, what cases are being referred to here? Environmental or civil?  Both UPDATES ON CARBON MARKETS & TRENDS Manuel Fuentes, IT PowerOVERVIEW OF CDM GOLD STANDARD REQUIREMENTS AND PROCEDURES Jasmine Hyman, Gold StandardErnie Wyjangco VERs can be as small as retail chain stores? Are they willing to buy X number of CERs per year?  We have a micro-scale projects in the Gold Standard. What we do is hand-select certain projects to be audited. Just as no GS project is too small, no project is also too big. Silayan, CaFIS Why are there no forestry?  We have no plans in the future. We believe that not all projects should be Gold Standard. The aim is to lead the fundamental shift in the way we use energy/create boost for a fundamental energy shift. And permanence is also an issue.  How does Gold Standard price premium when there is a committed buyer.  If buyer is willing to sell CERs to a final buyer willing to negotiate a final price. ESTIMATION OF GREENHOUSE GAS EMISSION REDUCTIONS Alvin Mejia, CaFIS Once youre already registered in the CDM-EB, can you still adjust the emissions factor?  You can choose from two options. Option 1: 3-year average data Option 2: data from 1st year of generation (emissions factor, hence, will vary per crediting period) PRESENTATION ON POTENTIAL GOLD STANDARD PROJECTS IN THE PHILIPPINES Alexander Ablaza, EE ConsultantSilayan, CaFIS How aggressive are companies in energy efficiency (EE) technology now? People are interested now in the technology but dont know who to approach it.  GOP intervention is needed in many developing energy markets. Why, the market is so reactive, for example, the DOE has too limited resources that they just react to foreign-funded projects. We have a very reactive government that is so dependent on the timing of foreign-assisted projects. Promotions are not classified as a priority. We see new countrys with IPPs falling out Where EE is treated as a priority strategy, government should seek resources and actively seek funding, build public-private partnerships for promotions of technology. There is no centralized EE technology in the country. Its difficult to encompass/account for all types of EE projects. Raf Senga WWF identifies EE as having a great GHG emission potential. We are going to launch a major energy efficiency campaign. To help government push for policies that support EE initiatives. We believe that this is a low-hanging fruit nobody is picking. PRESENTATION ON POTENTIAL GOLD STANDARD PROJECTS IN THE PHILIPPINES Marlon Centeno, North Wind Power Development Corporation You mentioned that there might be carbon credits in excess of what you committed in 2009. Have you thought of any potential buyers for these excess credits?  A lot have talked to us about it and we can welcome another interested party. PRESENTATION ON POTENTIAL GOLD STANDARD PROJECTS IN THE PHILIPPINES Godolivo Urbiztondo, UPP Associates If it is a fund from a multi-lateral funding organization, does it count as an ODA? Answered by Jasmine Hyman, Gold Standard You can use a concessional loan that is not more than 25% of the grant aspect. From a Secretariats point-of-view, thered be no problems. Concessional loans up to a 25% grant value is ok. PRESENTATION ON POTENTIAL GOLD STANDARD PROJECTS IN THE PHILIPPINES John Patick Catane, PNOC-EDC 30 August 2006 PANEL DISCUSSIONRECAP OF FIRST DAY Ross Rayata, WWF-PhilippinesWRITING THE PIN & PDD Manuel Fuentes, IT PowerUSING GOLD STANDARD MANUAL Jasmine Hyman, Gold StandardROUNDTABLE DISCUSSION Fr. Roberto Yap, CaFisFr. Bobby Yap (CaFIS) We have invited a group who are experts in writing PDDs and in developing projects. So wed like to ask them to reflect on that experience and to assess the prospect of applying the Gold Standard Methodology. Wed like them to reflect on their experience of writing PDDs. Weve heard about the GS methodology, we looked at the manual, and we looked at the requirements, the screens, etc. What we want to do now is assess the prospects of applying the GS methodology. Very similar to what we did yesterday, we listened to Jun Urbiztondo of Sipampang, Alvin Mejia (CaFIS), and in some sense, to Ricky Beltran (PhilBio) this morning for the pig project. But right now, wed like to bring things together and hopefully deepen what weve learned about the Gold Standard with this panel. So what we will do is discuss certain points then we will raise certain questions on the topic and then will let them say what they want to say regarding that particular topic. Panel members are, 1. JP Catane of PNOC-EDC, hes also involved in developing the Burgos Wind Farm Project of the PNOC, 2. Ricky Beltran (PhilBio), hes an expert in wastewater treatment, CIGAR, and they are also developing a landfill in Cebu. 3. Bert Dalusong, from Preferred Energy. Bert has much experience in Co Gen projects and also in renewable energy projects. In the Philippines, as I said, if you look at the Gold Standard methodology, youd see that Bert is part of that committee. 4. Finally, we have Alan Silayan from CaFIS. Hes been involved in writing PDDs for piggeries, wastewater treatments, and also for hydro projects. SET 1 Fr. Bobby Yap (CaFIS) The first topic we want to discuss is the CDM additionality tool. Remember that if you want to meet the CDM Gold Standard, you have to use the CDM Additionality Tool whether it is large scale or small-scale. As we pointed out yesterday, if you are small-scale, you dont have to use the additionality tool according to the CDM EB rules. But, for Gold Standard, whether you are large-scale or small-scale, you have to use the CDM Additionality Tool. QUESTIONS: What difficulties did you encounter in using the CDM-EB Additionality Tool? Did you encounter any delays/setbacks in doing the CDM Additionality test? What are the causes of these delays? How did you get over these? What has been the experience in applying this CDM-EB tool for additionality?Bert Dalusong (Preferred Energy) I think that there was no problem. The only concern is compliance with environmental regulations. I think that we all saw that the pig farm was not complying with the DENR regulations. And yet, biomass, ricehull, none of the big rice mills comply with DENR regulations. In applying the CDM-EB Additionality Tool, we have to prove that actual practice is not compliant with rules and regulations. Its not only the Philippines, the same, rice hull for example, in the whole of ASEAN. We documented it for the CoGen program where I have been the focal point for over 10 years, and I suppose even in pig farms in ASEAN, the same common practice will be seen. Ricky Beltran (PhilBio) It is not very difficult to identify additionality. A very funny experience we had in one of our landfill projects was it was very hard to get an endorsement from the Solid Waste Management Board (DENR). That they werent following the law, so we had this proposal to rehabilitate and convert it to waste-to-energy facility, and we have to get an endorsement from the Board. And it was very hard because the Board was usually chaired by the Mayor or the City Administrator, so you wouldnt get an endorsement that should say we are violating environmental law. Thats one of the difficulties is securing endorsements especially when you are documenting Additionality. JP Catane (PNOC-EDC) I would think that the greatest hurdle we faced was the common practice analysis because as I mentioned yesterday, PNOC-EDC owns four geothermal fields and there are new projects under organization so it will be difficult for us to prove that we have different practice. So we have to be creative in developing an argument for this. But we found our answer in the EPIRA where our usual customer is the National Power Corporation. We are now required to find new contracts with other entities and sell them to the WESM (Wholesale Electricity Spot Market). And also we have this image with the NGOs that we really dont need to enter into CDM projects because they think that we are a rich company. But for your information, all our projects in EDC are for the national interest and basically, the projects are mostly marginal. Alan Silayan, CaFIS For me, in the projects that I have been working on, Ill be talking about one hydro-project and another piggery project. For the hydro project, the Additionality Tool that we used is also common practice and similar to JPs argument, we can use the EPIRA law, whereas all hydro projects in Mindanao were developed by the NAPOCOR and this particular one is that of a private company. This is the first time and they are encountering difficulties being a private entity, so in terms of doing stakeholder consultations and doing all these other requirements, its been much, much longer for them, they were telling me that it will take them around 40-60 months, pre-preparation stage before actual construction of the facility. So even before construction there was a lot of work that needs to be done. In terms of delays and setbacks in doing the Additionality test, one is gathering data for the financial additionality. For the hydro power-plant, its been some time to gather data because they are still tweaking the IRR and financial statements. Interestingly, some of the barriers encountered for the hydro project had been barriers you wouldnt normally see for other projects, for instance, the river where they will be constructing the hydro project was an integral part in the culture of the area. That is where they hold the rites and rituals, and that was involved in the consultation process. So in the end, there will be a certain flow of water for the falls so that it will continue even during the summer season. Other barriers include safety, in Mindanao, Davao and General Santos are very remote areas. There has been a lot of concern especially for foreign contractors, there are like Japanese consultants who do not want to go to that area or are not permitted by their governments to go to that area. For the piggery project, we really did not encounter too much difficulty in terms of technology. In terms of the technology, its new in terms of the material being used, it is imported, and that this materials is not available here. The know-how is also not available here. Proving that it is not too much of an issue for us. Clarificatory Questions:Jasmine Hyman (Gold Standard) to Bert Dalusong (PE) How do you usually deal with that gap between rules and regulations and what the actual common practice is?Bert Dalusong (Preferred Energy) The Additionality Tool recognizes common practice as a reasonable basis for saying that that is the baseline, eventhough, it is not strictly compliant with government regulations.  SET 2 We go now to another topic. Now that we are thinking of Gold Standard, we have the ODA Additionality Test, ODA Additionality Screen, one of the checklist is that you have to submit a financing plan stating that no ODA funding was for the project not counting a grant was given for PDD development for the wider project. A clear example was ODA for the houses but not for the heaters And then we encountered that the grant value should be less than 25% QUESTIONS: What further information would you need for the GS Additionality Test? Do you think that your project will pass the GS Additionality Test? Alan Silayan (CaFIS) I dont think we will have a problem because for these two project, they have been independently financed by the two companies. As to where the financing comes from, the loans, I am not ready where the grants came from but as far as I know those had been independently financed. JP Catane (PNOC-EDC) As far our project is concerned, it is not ODA. We will not have any problems. Clarificatory Questions/CommentsJasmine Hyman (Gold Standard) to PANEL However, I know that the ADB has loans that are not concessional, just a regular lending practice which is not ODA.Bert Dalusong (Preferred Energy) Recently, ADB is already giving loans which are locally denominated per country. But the World Bank though, for this fund that they are using, they have a concessional loan Environmental Facility of the Development Bank of the Philippines. JP Catane (PNOC-EDC) Compared to ODA rates, for example, World Banks has an interest of about 8-9% and a tenure of 15 years, compared to ODAs 3-5% and a tenure of 30 years. Bert Dalusong (Preferred Energy) It comes in at about 1-1 1/2 % or 2% depending from where its coming Dollar, Yen. The definition here is that if it is 25% grant, whether or not a concessional rate is considered because its concessional. The reason why youre getting it at 8-8 is because of the foreign exchange which is also concessional, by the way, because you cannot get a 15 year foreign exchange cover at 3-4%. No foreign exchange banker will give you a foreign exchange cover for a about 4% cover. The most theyd give you is 6 months with 4% cover but not for 15 years. So even the foreign exchange cover of that fund is concessional in nature because the national government is taking that risk so thats why it is a bit gray. Jasmine Hyman (Gold Standard) to PANEL I am not sure but I think the best way is to submit a financing plan to tack and request from them their pre-assessment.Fr. Bobby Yap (CaFIS) But then again I think it is good to distinguish CDM validation and registration steps and then the Gold Standard steps. This is interesting because if the Sulu Project is already being validated knowing all the ODA things and its already been submitted for registration, if it does pass registration, so in some sense that the judgment has been made that from the CDM-EB point-of-view, it does not violate the ODA-non diversion rule. The Gold Standard is exacting a stricter standard in that sense. Jasmine Hyman (Gold Standard) to PANEL One point of clarification that I think you could do when youre submitting your financial plan is to take a standard loan rate from a regular commercial loan bank, apply the interest rate that you have and multiply that over 15 years assuming that you have used the full lifetime of the loan. And then you can take than total from the standard and subtract it from the total of what youre going to pay for 15 years. If that is less than 25%, it means that you will be cleared.Fr. Bobby Yap (CaFIS) One distinction made between CDM and the Gold Standard applies also to the Additionality earlier. That if the validator is satisfies the Additionality Test of CDM and if the registration is made, then you have again Gold Standard applying a stricter Additionality. Addressed to Jasmine Hyman (Gold Standard) This question is about the financial plan. The objective of the Gold Standard in having a financial plan is to distinguish the fund and also the financial viability of the project?Jasmine Hyman (Gold Standard) It is, to establish the source of the fund we want to know where the company loan came from and make sure that it is not ODA. And to also establish that is financially additional because we dont require the investment barrier to be met, I would say that if it is financially additional, use the financial plan twice for your additional tool. But I would say that it has to be part of the Additionality Tool.Ricky Beltran (PhilBio) For the financial viability, is there a hurdle rate like an IRR you have to meet? Is there a format or a template we just need to fill in for the financial plan?Jasmine Hyman (Gold Standard) No, its the regular UNFCCC Additoinality Tool. We dont add anything to that aside form the public announcement. The only matrix that we require you to fill up is the SD matrix. Nothing extra. SET 3 QUESTIONS: What difficulties did you encounter calculating the emissions reductions problems with data-gathering, baseline monitoring methodologies? Since methodologies change very fast, how do you solve this and other methodology-related problems. Ricky Beltran (PhilBio) The problem is getting local data. We look at factors like the CEF factors. It is difficult when youre doing a PDD or another countrys project especially when gathering country-specific values. Its mainly the default parameters. Its good that klima has come up with CEF baseline studies now we have some basis for computing our emission factors. JP Catane (PNOC-EDC) I think on calculation, I think we are on record in saying that this is not quite an easy thing to do. We have very complex power systems here. We are a big archipelago. We have the EPIRA (the Electric Power Industry Reform Act) which says that the responsibility for electric supply rests with distribution utilities. We have over 140 distribution utilities. Some get it from the grid but some distribution utilities get it from say, a geothermal powerplant. SET 3 QUESTIONS: What difficulties did you encounter calculating the emissions reductions problems with data-gathering, baseline monitoring methodologies? Since methodologies change very fast, how do you solve this and other methodology-related problems. Ricky Beltran (PhilBio) The problem is getting local data. We look at factors like the CEF factors. It is difficult when youre doing a PDD or another countrys project especially when gathering country-specific values. Its mainly the default parameters. Its good that klima has come up with CEF baseline studies now we have some basis for computing our emission Alan Silayan, CaFIS For our piggery project, initially we are not clear with what to do as the small-scale methodology does not give me anything. Looking at the other projects, I did not understand how they were calculated. Luckily, in the university we have sets of the 1996 IPCC study and they were really a big help in getting default values for baselines. I also want to acknowledge our validator for being rigorous in checking our calculations. In our case, that worked, the cooperation between what we do and the checking. For the hydro project, Id like to acknowledge my colleague, Alvin Mejia, for giving us the bragging rights to say we wrote the book. In that sense, it wasnt easy. SET 4 QUESTIONS: Did you encounter any problems or difficulties related to proving or ascertaining the SD impacts of your project? How did you overcome difficulties? The SD matrix? If youre going to make your project Gold Standard, will it be easy or difficult?  Clarificatory Questions/CommentsRicky Beltran (PhilBio) How do you define host community? What if you dont have any, because our business development group is exploring the possibility of putting up a waste-to-energy facilities in rice mills, and one project we are evaluating is hauling rice husks in a rice mill which a proponent owns. He will bring this to Taguig, an urban-industrial area in Manila to use for their boiler. Another situation is a Bohol rice mill which is 5km away from the town proper. So how do you define a host community where you have a project inside an industrial facility and one that is far away from the population.Jasmine Hyman (Gold Standard) That is precisely why we ask you to justify your invitation list in the public consultation. You can invite local leaders or end-users. Bring in people who you think will be affected by your project. We also suggest that you invite WWF since they are affiliated with Gold Standard. Whoever you think is fit to invite will be good enough for us.  Jasmine Hyman (Gold Standard) You need to invite all the Gold Standard NGOs from the location. The term is local. NGOs that have a local office. Arnold Bufi (EcoSecurities) In the EMB, it is good to early on consult the EMB what requirements are needed. Whether you have a big project that requires a full-blown EIA, you can always integrate that in the Gold Standard application. It is always good to get advice on what to get. Fr. Bobby Yap (CaFIS) The Bureau can either issue an Environmental Compliance Certificate (ECC) or a Certificate of Non-Coverage (CNC) which basically states that you do not need an EIA. In fact, the DENR can say that your CNC that you dont need an EIA, that youre under certain thresholds, etc. Youll only get into trouble with GS if youre required to get an EIA.  Jasmine Hyman (Gold Standard) There are equivalents to the EIA which are nationally recognized. I would say that the CNC sounds reasonable. However, bear in mind too that we asks for an EIA as the host country of the EB requires it. What I would suggest that if you have a CNC, just indicate that it is already the EIA equivalent.SET 5 QUESTION: Will you want your project to apply for Gold Standard or not.  Alan Silayan, CaFIS Yes, because there is really value for it. The projects we are developing are really small and the increase in the value will help our projects a lot. Ricky Beltran (PhilBio) Yes, because of the value. Since they said that there is a retroactive way of application. Bert Dalusong (Preferred Energy) Im happy to see that what we have discussed are included in the Gold Standard manual. Nothing has changed. What I wanted to say was in conceptualizing and doing PDDs for our project, weve always had the Gold Standard at the back of my mind. So these are Gold Standard projects without the badge.  Jasmine Hyman (Gold Standard) Why didnt you go ahead seeking the GS badge from the start?Bert Dalusong (Preferred Energy) We appear to be the least active. Thats one excuse. Like I said, we have been developing with the GS in mind. Most owner of projects are also conservative. They do not want to tell everyone what they doing. Minimal public information as possible is the way they do their business. The additional level of scrutiny required in the GS process may not be attractive to them or diminish their interest in the project.     PAGE  PAGE 1 'P$ % ( \ } ~  5i7Tc}=>Ar;=NOR !s""""1#2#5#K#g#h###h"MCJH*OJQJh"M5CJOJQJ\h"M6CJOJQJh"MCJOJQJ]h"MCJOJQJh"Mh"M;CJOJQJH'Pb ! 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