Carbon Market Watch Newsletter Issue #3, May 2013

Dear friends, Carbon markets are in the dumps and policy makers and market participants alike are scrambling to come to their rescue. The Carbon Expo in Barcelona just came to a close and the next intercessional UNFCCC conference of this year starts in Bonn on 3 June. This year’s Carbon Expo praised carbon markets as …

Reforming the CDM: Mission Impossible? (Newsletter #3)

At the upcoming intercessional conference starting on 3 June in Germany, Parties will discuss revisions to the rules that govern the CDM. We highlight the most important issues that need to be addressed in order to strengthen the environmental and social integrity of the CDM. This year Parties will revise the rules that govern the …

Joint Implementation reforms: too little too late? (Newsletter #3)

In Doha Parties decided that the two JI tracks should be merged. However, all further decisions about JI were delegated to be discussed at the upcoming meeting in Bonn in June 2013. Below is a short summary of essential reform requirements needed. JI is currently divided into two “tracks”. Undder Track 2 an international board …

Framework for Various Approaches and New Market-based Mechanism Quo Vadis? (Newsletter #3)

In Bonn, countries will continue negotiating if and how new carbon markets and their units should be approved both under the Framework for Various Approaches (FVA) and through the New Market Mechanism (NMM).  We highlight some of the most pertinent issues that are still to be resolved. At COP 18 in Doha, Parties did not …

Crunch-time for aviation emissions (Newsletter #3)

At this year’s ICAO Assembly in September 2013, Parties are supposed to agree on a Framework for market-based measures (MBMs) to address international aviation emissions and on the feasibility of a global MBM.  But countries are far from agreeing how such MBMs should look like. The current preferred option is to simply use offsets to …

The EU ETS back-loading hurdle (Newsletter #3)

The quest to prop up depressed CO2 prices in the European Union’s Emissions Trading Scheme (EU ETS) is continuing. After the narrow rejection of the back-loading proposal in April, the European Parliament is expected to have a second vote in July. Meanwhile, the scheme continues to be oversupplied by an estimated 2 billion allowances. Allowance …

The EU’s Effort Sharing Decision (Newsletter #3)

Joint article by Carbon Market Watch and ClientEarth The EU’s Effort Sharing Decision (ESD) covers all sectors not included in the EU-ETS, except international shipping, aviation and LULUCF. These ESD sectors are responsible for 60% of the EU’s greenhouse gas emissions, yet current reduction goals in the ESD are very weak and can be met …

China’s Pilot Emissions Trading Systems (Newsletter #3)

Carbon Market Watch is currently in China to follow developments around the expected launch of 7 regional pilot emissions trading systems. We give a first overview about the state of play of the 7 pilots. China’s emissions have more than doubled over the last decade. It now contributes about 30% of global greenhouse (GHG) gases …

NGO letter to GCF Board on CSO active observer selection

Letter sent on May 30 by over 150 NGOs to the full Green Climate Fund (GCF) Board and Secretariat being concerned about the GCF and wanting to ensure that it is a transparent, democratic, inclusive, and effective institution. The letter requests that civil society participation in GCF processes be upheld in applying these same principles, especially in time for the June 25-28 board meeting in South Korea.