Carbon Market Watch Newsletter – June 2017

Editorial

US President Trump’s announcement to withdraw from the Paris Agreement casts a shadow over financial support for developing countries to help them deal with the consequences of climate change and transition towards sustainable, low-carbon societies. New leadership is needed to fill in the climate finance gap.

Responsible for almost 3% of global greenhouse gas emissions, the shipping industry has been dragging its feet on climate action for 20 years. Things are finally moving, and the UN shipping body promises to lay out its climate plans by 2023.  ‘Spirit of Paris’ is needed when these plans are discussed this and next week at meetings in London.

As the EU policymakers are finalising Europe’s carbon market rules for the next decade, the number of future free pollution permits for the heavy industry remains undecided. The industry is fighting for more freebies in the name of fairness, but what does ‘fair’ mean for citizens, workers and the climate?

This month, the European Parliament voted to strengthen another key EU climate law that aims to cut emissions from sectors such as agriculture and transport. However, the lawmakers failed to close all the loopholes that risk delaying urgently needed action.

Happy Reading
Carbon Market Watch