In Doha Parties decided that the two JI tracks should be merged. However, all further decisions about JI were delegated to be discussed at the upcoming meeting in Bonn in June 2013. Below is a short summary of essential reform requirements needed. JI is currently divided into two “tracks”. Undder Track 2 an international board …
Read more “Joint Implementation reforms: too little too late? (Newsletter #3)”
In Bonn, countries will continue negotiating if and how new carbon markets and their units should be approved both under the Framework for Various Approaches (FVA) and through the New Market Mechanism (NMM). We highlight some of the most pertinent issues that are still to be resolved. At COP 18 in Doha, Parties did not …
At this year’s ICAO Assembly in September 2013, Parties are supposed to agree on a Framework for market-based measures (MBMs) to address international aviation emissions and on the feasibility of a global MBM. But countries are far from agreeing how such MBMs should look like. The current preferred option is to simply use offsets to …
Read more “Crunch-time for aviation emissions (Newsletter #3)”
The quest to prop up depressed CO2 prices in the European Union’s Emissions Trading Scheme (EU ETS) is continuing. After the narrow rejection of the back-loading proposal in April, the European Parliament is expected to have a second vote in July. Meanwhile, the scheme continues to be oversupplied by an estimated 2 billion allowances. Allowance …
Joint article by Carbon Market Watch and ClientEarth The EU’s Effort Sharing Decision (ESD) covers all sectors not included in the EU-ETS, except international shipping, aviation and LULUCF. These ESD sectors are responsible for 60% of the EU’s greenhouse gas emissions, yet current reduction goals in the ESD are very weak and can be met …
Read more “The EU’s Effort Sharing Decision (Newsletter #3)”
Carbon Market Watch is currently in China to follow developments around the expected launch of 7 regional pilot emissions trading systems. We give a first overview about the state of play of the 7 pilots. China’s emissions have more than doubled over the last decade. It now contributes about 30% of global greenhouse (GHG) gases …
Read more “China’s Pilot Emissions Trading Systems (Newsletter #3)”
Letter sent on May 30 by over 150 NGOs to the full Green Climate Fund (GCF) Board and Secretariat being concerned about the GCF and wanting to ensure that it is a transparent, democratic, inclusive, and effective institution. The letter requests that civil society participation in GCF processes be upheld in applying these same principles, especially in time for the June 25-28 board meeting in South Korea.
Last week, the European Commission released data about the 2012 use of offset credits in its Emission Trading Scheme (EU ETS). A large part of offset credits are from heavily criticised Joint Implementation projects and large-scale power plants under the Clean Development Mechanism. Carbon Market Watch calls for use restrictions of substandard carbon credits. Norway has been the first country to announce transitioning away from wind and hydro projects this year.
The world’s forests are threatened by an ever-expanding demand for commodities such as soy, timber, palm oil and beef. Every year 13 million hectares of forests are being lost worldwide due to illegal or unsustainable logging and the conversion of forests to agricultural land. Emissions from forest degradation and deforestation account for 18% of global …
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