Negotiations on how to implement the Paris Agreement will continue at the UN climate conference in Bonn this May. Ahead of the meeting, the European Commission has released a study showing manifold problems in the offsets generated under the Clean Development Mechanism. The study underlines the urgent need to stop using offsetting as a climate policy.

The Green Climate Fund (GCF), which aims to support a paradigm shift in developing countries by channelling financial support to climate change mitigation and adaptation, has also been a talking point this month. Despite vocal opposition by green groups, the GCF Board recently approved funding for three large hydro projects. These project types have in the past been plagued by multiple problems from human rights violations to environmental harm.

This month Carbon Market Watch participated in the spring meetings of IMF and World Bank in Washington D.C. where discussions on the advancement of carbon pricing gathered pace. We also co-hosted a workshop in Madrid along with 25 NGOs from Southern Europe to discuss how civil society collaboration on climate advocacy at local, national and European levels can be enhanced. Guest author Susana Pinto from Portugal shares with us the highlights of the event.

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Carbon Market Watch

– New study adds urgency to end UN carbon offsetting scheme
– ‘Price it right, tax it smart, do it now’ demands the head of IMF
– UN climate fund should reject large hydro dam projects
– Fostering sustainable development through climate action
– ‘Sharing experiences helps solve problems’  (Guest article)