Editorial Dear friends, This WatchThis! edition takes a critical look at the upcoming climate change conference in Peru: Plates of negotiators will hopefully not only be filled with delicious Ceviche but also with a healthy portion of climate finance that will be crucial for a constructive dialogue to agree on rules needed to lay the […]
Watch This! NGO Voices on climate finance and carbon markets
Over the past years, Carbon Market Watch together with numerous dedicated organizations in India has worked to improve the social and environmental integrity of carbon market projects in India, and exposed weaknesses where they occurred. As the number of projects has increased, challenges faced by local communities to defend their rights to land, food, and shelter have increasingly been reported across India.
COP-19 is just around the corner. Although Poland is not expected to deliver on concrete climate targets for the 2015 climate agreement, there are a number of important topics at stake that need to be addressed to pave the way for a comprehensive, far reaching future climate deal in 2015. If you have not yet done so, sign-on to our Open Letter demanding Environment Ministers around the world first and foremost to increase ambition and stop carbon markets from undermining mitigation commitments at COP-19.
Welcome to the summer edition of our NGO newsletter “Watch This! NGO Voices on Carbon Markets”! It is no secret that the compliance carbon market is not doing well. The current carbon price is not even enough for projects to cover their administration costs, let alone ensuring the running of the project on the basis […]
Despite severely over-supplied carbon markets and lacking mitigation commitments, countries are currently developing additional carbon market schemes. At the same time, countries are contemplating what changes are needed to the underlying rules of the CDM. They are also negotiating REDD and other approaches to reduce emissions from international aviation. Throughout all these developments it is of utmost importance to take into account the lessons from the past. In order to achieve real benefits for climate and people, your voice on carbon markets will be important!
At COP18 in Doha, countries did little to address the billion tonne gap we need to close in order to keep us safe from catastrophic climate effects. No new mitigation pledges were made and most loopholes remain. Yet some positive decisions were made: Parties did agree that no new hot air should be created in the next Kyoto commitment period and that only a limited amount of hot air from the first commitment period can be used. Still, decisions in Doha did nothing to ensure that the world will stay below 2 degrees warming, carbon markets keep spreading and common rules are lacking. We’ll need to work together to continue building pressure for real solutions and keep fighting to avoid the worst projects and policies.
As carbon prices continue to plummet, resuscitation measures are being discussed everywhere. CDM Watch will be making sure to warn you about recommendations that ignore inherent flaws of the CDM and initiatives that only attempt to fix the carbon market for its own sake. Countries should concentrate on the essentials when they meet at the next international climate negotiations (COP 18) at the end of November in Doha, Qatar. Our message is simple and clear: countries must dramatically increase their pledges to reduce emissions immediately, otherwise we will not stand a chance to prevent catastrophic effects of climate change.
The heat is on as last projects from emerging economies rush to registration before the change of eligibility for the European market at the end of the year will take effect. Dirty coal will not make the race as the methodology remains suspended. This decision kicks almost all future carbon credits from coal power projects out of the EU ETS. Good timing! While this is amazing news, much work still needs to be done to create finance mechanisms with net benefits for climate and people. Maybe the development of sustainable development goals launched this year at Rio+20 will be able to break the deadlock and contribute to