Under the European Commission's Foreign Policy Instrument, ICF (NASDAQ:ICFI), a global consulting and digital services provider, has been awarded a new contract to enhance cooperation between the European Union (EU) and China and to strengthen China’s emission trading system (ETS). The contract, which was awarded in the third quarter of 2017, has an estimated value of €10 million ($12 million USD) and a term of 36 months.
“Emissions trading as a policy concept and market-based instrument is still relatively new to large parts of the Chinese economy and most of its stakeholders,” said Mads Baden Jensen, vice president for ICF. “With the largest ETS in the world, China has a great opportunity to improve its nation’s and the world’s air quality and make significant progress toward reducing global greenhouse gas emissions.”
To support this bilateral commitment, ICF will work with the EU and China to establish a policy dialogue between the constituencies on the development and strengthening of the ETS. ICF will also provide training and knowledge sharing support to help China build effective emissions trading capacities and secure long-term sustainability and ownership of its ETS.
“This project confirms ICF’s leading role in providing strategic technical advice, technical assistance, policy dialogue, research, evaluation and support for the design and implementation of ETSs to governments in Asia, the European Union and North America,” said Gene Costa, senior vice president for ICF.
ICF was recently named Best Advisory/Consultancy in China in Environmental Finance’s 2017 Market Rankings. Read more about ICF’s emissions trading and climate mitigation services, and our offerings in Asia and the Pacific region.
