Dear members, friends & colleagues,
Welcome to the 4th quarter 2020 edition of the Watch This, a civil society newsletter by Carbon Market Watch.
In this edition we look at the damage caused to forest offset projects in California by the recent wildfires and question the validity of these carbon sinks that have quite literally gone up in smoke.
As the year draws to a close we take a walk down memory lane remembering the old Kyoto Protocol carbon markets and find out if new offset deals currently being forged between Parties in the name of the Paris Agreement are any different to their predecessors.
And finally after almost 10 years with Carbon Market Watch I bid you all farewell on my departure. It has been a unbelievable journey that has given me so many wonderful experiences and allowed me to work with the most dedicated individuals, all committed to saving this planet for generations to come. As I move to my next calling on my farm the third and final article in this edition takes a look at agriculture and the enormous climate potential this sector must embrace.
My very best wishes,
Companies are increasingly adopting “climate-neutrality” targets, which often include relying on forests to compensate for pollution. After yet another such offset project was swallowed by flames in California, unresolved questions about forest and land offsets resurface. (Gilles Dufrasne)
It’s been dubbed a first of its kind – a new offset deal between Switzerland and Peru under the Paris Agreement. But how ground-breaking is this deal? And has there been any real change from the old offset efforts under the Kyoto Protocol of the past? (Andrew Coiley/Axel Michaelowa)
When I began to think about a suitable article to pen as my last contribution to this newsletter, the obvious choice was low carbon agriculture. This is of personal interest to me as I switch my focus to sustainable agriculture at my organic farm just outside Salzburg, Austria. (Andrew Coiley)
The CDM Executive Board will no longer register or credit new offset projects
As many of you know a big question facing market negotiators was what to do with the old Clean Development Mechanism and its projects once Kyoto Protocol runs out at the end of the year. As there was no political decision taken on the matter in previous UNFCCC sessions the Ex Board just ruled that from the start of next year it will ‘continue its normal authorisation process, but stop short of officially registering projects and distributing credits’.
Beer and crisps used to help tackle climate change
The much-loved combination of beer and crisps is being harnessed for the first time to tackle climate change. Crisps firm Walkers has adopted a technique it says will slash CO2 emissions from its manufacturing process by 70%. The technology will use CO2 captured from beer fermentation in a brewery, which is then mixed with potato waste and turned into fertiliser.
Greta Thunberg: ‘We are speeding in the wrong direction’ on climate crisis