The inclusion of flawed carbon credits in any compliance or voluntary market – particularly within the EU’s 2040 climate architecture – would pose a serious risk to environmental integrity. If the EU allows these credits to count towards its legally binding climate targets, it will effectively undermine real domestic mitigation by replacing it with credits that exist only on paper.
A new Carbon Market Watch analysis, based on currently available project data, has uncovered that the first project transitioning from the CDM to the Article 6.4 market is poised to issue an astonishing 27.4 times more credits than it should as compared to the values from peer-reviewed scientific literature.
A revision of the Science Based Targets initiative’s CNZS v2.0 corporate net-zero standard reveals a welcome push towards greater accountability, despite some shortcomings.
The European Commission’s Clean Industrial Deal and Omnibus package supports big polluters while the EU’s climate goals are missing in action
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