Effort Sharing, A Vital Piece of the 2030 Climate Framework Puzzle (Newsletter #4)

The EU’s 2030 Climate Framework must build on ambitious and economy-wide, legally binding climate, renewable energy and energy efficiency targets. Having strong and clearly laid out emission reductions targets for the non-ETS sectors will be vital in order to ensure the EU can meet its low carbon trajectory for 2050. In this article we answer a few of the most important questions about the future of the Effort Sharing Decision.

Carbon Market Watch Newsletter Issue #4, September 2013

Dear friends,

The IPCC just released the first part of its new report. The news are daunting. We will see dramatic changes and effects will persist for many centuries even if emissions of CO2 stop. If we don’t act now, climate change will rapidly alter the lands and waters we all depend upon for survival. The 19th international climate negotiation will be held in November in Warsaw. World leaders have done little to halt the climate threat. 19 years ago the UN’s climate change convention was adopted with the goal to stabilise greenhouse gas concentrations in the atmosphere. Many countries, including Poland, the host of the upcoming COP are still aggressively promoting coal, the largest contributor to climate change. But there is also good news: Some of the world’s largest banks are starting to limit their funding for coal power. Also interest in CDM coal power projects is shrinking rapidly.

International Carbon Offsets in EU Climate Legislation – A Historical Concept? (Newsletter #4)

EU policy makers are currently debating the design of the EU’s Climate Framework for the period of 2020-2030. Under the current Climate and Energy package, the use of international offset credits has undermined domestic mitigation action significantly both under the EU’s Emissions Trading Scheme and the Effort Sharing Decision. International offsets should therefore no longer be eligible for compliance under the 2030 EU Climate Framework.

Lessons from the CDM: NAMAs & Sustainability Benefits (Newsletter #4)

Both the CDM and NAMAs have the goal to deliver sustainable development benefits. But for a number of political and structural reasons the CDM has failed to consistently and convincingly deliver such benefits. As NAMA initiatives are kicking off all over the world, we look at what lessons need to be taken into account to create a success story on how sustainable development can be achieved by climate mitigation projects and policies in developing countries.

Friend of the Court Brief filed in Panamanian Case challenging CDM project Barro Blanco (Newsletter #4)

The infamous CDM Barro Blanco hydro power project, registered in 2011, continues to cause unrest amongst indigenous communities in Panama. Civil society organizations filed a letter in an ongoing domestic lawsuit in a Panamanian court, after a visit by UN Special Rapporteur on the Rights of Indigenous Peoples who concluded that the government should have ensured adequate consultation. Despite the negative impacts on the Ngöbe communities, the CDM remains without remedies for affected people to appeal against CDM projects that violate applicable international, including international human rights laws.

CDM Investors Snub Coal Power (Newsletter #4)

Interest in CDM coal power projects is shrinking rapidly. Following the announcement of the British government to stop endorsing investments in CDM coal projects from September 2013, EDF Trading also announced that it is no longer involved in Adani’s CDM coal power project in India. Eyes are now set on the upcoming climate change conference in Warsaw to see whether the UNFCCC will follow this trend and kick coal power out of the CDM.

Will Carbon Markets Help or Hinder a New Climate Deal? (Newsletter #4)

At COP-19 in Warsaw, Parties will continue to discuss the Framework for Various Approaches (FVA), a framework for trading units from various carbon markets. . Any decisions taken in Warsaw must reflect the impact these markets may have on a post 2020 agreement. The FVA negotiations have to be closely related to the discussions on accounting, pledges and ambition for a new climate deal.

Carbon Market Watch @ Work (Newsletter #4)

Press Releases Press Release: EDF Trading backs away from Adani’s carbon offsetting coal project (05.09.13) Press Release: New draft Regulation on offset entitlements criticized for undermining the EU ETS  (10.07.13) Press Statement: Carbon Market Watch welcomes today’s vote as a stepping stone for structural reform to the EU ETS (03.07.13) Press Release: New data shows …