Uncertainty over Barro Blanco’s CDM approval

by Miriam Vicente MarcosHuman rights in climate action, Global marketsPosted on Comments are Disabled

On the first of September tensions in Panama heightened when heavy machinery moved very close to the Ngöbe-Bugle Comarca to complete the highly contested Barro Blanco hydro dam, which is registered under the UN’s Clean Development Mechanism. This was preceded by the forceful eviction of indigenous people camping next to the construction area by the national police. In response to a letter sent by Panamanian civil society groups, the CDM Board has now reminded Panama about its right to withdraw approval for the project, “if it deems appropriate”.

New study adds pressure on UN climate talks to address hot air carbon credits

by Miriam Vicente MarcosEU carbon market, Global marketsPosted on Comments are Disabled

A new study by the Stockholm Environment Institute (SEI) finds that bogus carbon offsets issued under the Kyoto Protocols’ Joint Implementation (JI) offsetting mechanism to date have increased global emissions by 600 million tonnes CO2 to date. The study came timely ahead of the ongoing round of climate talks in Bonn, concluding tomorrow, where countries need to work ensure that the new Paris climate treaty is not undermined, as Kyoto was, by hot air carbon credits.

New policy brief compares accountability mechanisms of the UNFCCC’s climate instruments

by Miriam Vicente MarcosGlobal marketsPosted on Comments are Disabled

As countries are streamlining the negotiating text that is to be adopted in Paris later this year, one key issue is how to ensure that the climate treaty sufficiently incorporates human rights.. A new policy brief released by Carbon Market Watch compares the social and environmental accountability of existing climate finance instruments and underlines the need for strong human rights language in the Paris agreement.

EU ETS review proposal earmarks €160 billion for Europe’s largest polluters

by Miriam Vicente MarcosEU carbon marketPosted on Comments are Disabled

Just when everyone started leaving for their summer holidays, the Commission published a legislative proposal to revise Europe’s carbon market to make it fit for the post-2020 period. The proposal was heavily criticized for failing to tackle the fundamental flaws of the EU ETS and increasing pollution subsidies to €160 billion to the EU’s biggest carbon polluters. However, there is still a chance for the European Parliament and Member States to turn the EU ETS into an effective tool to tackle climate change.