California is currently debating the future of its cap and trade program, which will play an important role in reaching its climate goals. The future of the system is controversial, but there have been a couple of important key reform proposals made by members of the California legislature, notably State Sen. Bob Wieckowski (D-Fremont) and Senate President pro Tempore Kevin de León (D-Los Angeles) that build on international experience on carbon markets and aim to ensure that California continues to be at the forefront of climate policy. Two of the most important proposals are for measures to bring prices into the range of what is needed to achieve the goals of the Paris Agreement and exclude offsets from the system.
Carbon Market Watch Newsroom
The US President’s withdrawal from international efforts to fight climate change casts a shadow over the future of climate finance. Some EU countries, cities and states within the US have already stepped forward, but more is needed from countries around the world to fill the gap.
After 20 years of procrastination, shipping sector is finally discussing a strategy to address its emissions that represent almost 3% of global greenhouse gasses. As the UN shipping body meets in London next week, ‘Paris spirit’ is needed to spur action in the sector. Summer 2017 – the UN shipping body, the International Maritime Organization […]
Civil society organisations from 13 European countries have called on their decision makers to boost efforts to reduce emissions from sectors such as transport and agriculture – some of the fastest growing sources of climate warming greenhouse gases in Europe. Following the US president Trump’s decision to withdraw from the Paris Agreement, the negotiations on […]
Despite the political uncertainties around US’ participation in the Paris Agreement, technical negotiations on how to implement the landmark climate deal, including through carbon markets, continued at the UN Climate Conference earlier this month. While delegations underlined continued commitment to the Paris Agreement goals, little progress was made on the Article 6. Disagreements over the […]
Lead EU lawmaker agrees that global aviation deal should not automatically replace Europe’s carbon market
The European Parliament’s negotiator on aviation emissions has proposed to bring international flights back under the EU’s carbon market if the global aviation deal to tackle emissions is deemed insufficient. Ambition in the sector remains low, but the draft report calls for higher auctioning shares, a timely review comparing EU and international aviation policy, and […]
Fostering sustainable development through climate action – what should the future UN mechanism look like?
In May, climate negotiators will again gather to flesh out the rules to implement the landmark Paris climate agreement. One of the topics on the agenda is the Sustainable Development Mechanism. To be effective, the successor to the Clean Development Mechanism must guarantee real, measurable and long-term benefits both in terms of emission reductions and […]
Carbon Market Watch Joins Coalition to Promote Carbon Pricing As climate skeptics in the White House mulled over whether to remain in the Paris Agreement, less than two blocks away on Pennsylvania Avenue, climate change featured prominently in the spring meeting agenda of the World Bank and the IMF. Among the numerous workshops, conferences and […]
‘Sharing experiences helps solve problems’ – Two days of intense climate action talks with Southern European NGOs
Guest article by Susana Pinto from Quercus About 25 non-governmental organisations from Southern Europe, including Portuguese Quercus, gathered in Madrid on 5 and 6 April to exchange experiences and to explore ways to collaborate on European climate policies. While Portugal is on the right track when it comes to areas such as renewable energy, more […]
In a controversial move, the Board of the Green Climate Fund (GCF) has approved three large hydro dam projects, despite concerns raised by civil society on the extensive adverse social and environmental effects these projects can have. This development has to be seen very critically, especially considering past negative experiences under the Clean Development Mechanism […]