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EU’s 2040 credit line risks bankrupting the climate

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.

First wave of Article 6 carbon credits misfire spectacularly

A new Carbon Market Watch analysis, based on currently available project data, has uncovered that the first project transitioning from the CDM to the Article 6.4 market is poised to issue an astonishing 27.4 times more credits than it should as compared to the values from peer-reviewed scientific literature.

There can be no flexibility in the EU’s 2040 climate target

Apparently, EU lawmakers are exploring four potential loopholes to weaken the target under the guise of “greater flexibility”. Under consideration are suggestions that include postponing climate action until the latter half of the 2030’s, allowing for more flexibility between EU sectors, or relying on international offsets and additional carbon removals to somehow fill the gap caused by EU inaction. 

Civil society must be included in EU policymaking

Carbon Market Watch and 550 civil society organisations from 40 countries are today joining forces to fight back against ongoing attacks against NGOs from centre-right and far-right political voices.

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