Brussels – Most EU Member States are virtually abandoning plans to develop new energy and fuel saving policies that could save the public money and reduce dependency on Russian gas thanks to weak European climate targets that are likely to be overshot, according to new analysis.
The European Commission has unveiled a list of 175 industries that will receive protection from the costs of climate change policies (“carbon leakage”) up to 2019. Surprisingly more financial support will be handed over to energy-intensive firms, despite there being no evidence for the occurrence of carbon leakage so far. Carbon Market Watch calls upon the European Parliament and Member States to reject the new list. Energy-intensive industries should not be allowed to pollute for free and therefore other measures to address carbon leakage should be developed for the post-2020 period.
New research shows that a new climate deal must be based on multi-year, not annual, emissions budgets and comprehensively revised accounting rules to ensure the environmental integrity of targets and markets. In particular the reports call for an end to so-called double-counting of emissions cuts sold through offsetting mechanisms whereby the issuing and purchasing country both count a project’s emissions savings towards their targets.
Today, the European Commission released data on the number of international offsets used in 2013 by companies in the EU Emissions Trading Scheme (EU ETS). Unlike previous years, the European Commission only released aggregate information which means it is no longer possible to check the origin of the 133 million offsets that entered the EU ETS in 2013. Carbon Market Watch, Sandbag Climate Campaign and the Climate Market & Investment Association (CMIA) strongly condemn this lack in transparency as it significantly reduces civil society’s ability to scrutinize the carbon offset projects that were used.
The number of carbon offsets used in 2013 by companies in the EU Emissions Trading Scheme (ETS) was publicly released today but a dramatic reduction in the data made available was condemned by Sandbag Climate Campaign, the Climate Market & Investment Association (CMIA), and Carbon Market Watch.
Carbon Market Watch has set out its views on reform of the Clean Development Mechanism (CDM). The proposals, sent in a response to a consultation launched last year, include provisions on how to ensure projects result in genuine net environmental benefits. The submission also includes detailed recommendations on how local civil society involvement should be regulated and how grievances should be handled when projects harm local communities or the environment.
Adani’s thermal coal plant was the first supercritical coal power project that was registered under the CDM on 16 December 2009.
The Barro Blanco Hydroelectric Power Plant Project was approved for the Clean Development Mechanism (CDM) despite the concerns of local and international NGOs.
Santa Rita CDM project registered despite violations of community consultation rights which are at the heart of the Guatemalan Agreement on Identity and Rights of Indigenous Peoples
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