Carbon Market Watch agenda outlines our priorities and key political milestones for the next months.
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Carbon Market Watch agenda outlines our priorities and key political milestones for the next months.
Click here
Instead of a meaningful carbon levy, the International Maritime Organisation (IMO) recently agreed on an inadequate hybrid scheme combining a fuel standard with weak carbon pricing. Despite its climate failings, IMO member states must strengthen this compromise against further efforts to water it down.
In new guidance, the Voluntary Carbon Markets Integrity Initiative (VCMI) is promoting the use of carbon credits to camouflage the fact that companies grappling with their indirect (scope 3) emissions are off track to reach their commitments. But carbon credits must not replace direct emissions reductions, NGOs warn.
A new report reveals that cookstove carbon projects eligible for the Korean Emissions Trading System are at risk of issuing 18 times more credits than they should, echoing past EU carbon market mistakes
The inclusion of flawed carbon credits in any compliance or voluntary market – particularly within the EU’s 2040 climate architecture – would pose a serious risk to environmental integrity. If the EU allows these credits to count towards its legally binding climate targets, it will effectively undermine real domestic mitigation by replacing it with credits that exist only on paper.
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