Lacklustre COP27 fails to bring clarity to carbon markets

The Sharm el-Sheikh climate conference’s final deal on Article 6 opens the door to secret carbon market deals between countries with little oversight. On a positive note, a new type of carbon credit could help spell the end of offsetting, but the agreement falls far short of what is needed.

Governments must slash emissions, not ambition

As Carbon Market Watch prepares to attend the COP27 climate conference in Sharm el-Sheikh, we urge the international community to commit to far more ambitious climate action. Negotiators must design effective and fair carbon markets under Article 6 that complement rather than replace rapid and massive emissions reductions. The COP27 climate conference in Sharm el-Sheikh (6-18 November …

Environment ministers weaken Emissions Trading System in a race to the bottom with European Parliament

Rather than correct course after the European Parliament’s shocking abrogation of responsibility, EU environment ministers have lowered the ambition of the EU ETS even further. Moreover, the Environment Council has offered heavy industry billions in generous freebies while leaving households to pay the bill. Last week, MEPs voted on a diluted Emissions Trading System, undermining …

FIFA World Cup in Qatar scores own goal with misleading carbon neutrality claim, new report

The FIFA World Cup in Qatar advertises itself as the first carbon-neutral tournament of its kind. Our latest research casts serious doubt on this claim, suggesting that this goal will be achieved through creative accounting rather than actually reaching a carbon footprint of (net) zero. Host country Qatar and football’s governing body FIFA are touting …

EU carbon market must lead to faster emissions cuts to tackle climate crisis, new research shows

If the European Union does not significantly strengthen its reformed flagship Emissions Trading System (EU ETS), it risks fuelling planetary heating that will exceed 1.5°C and even missing its own inadequate targets, two simulations show. The EU ETS must significantly raise its 2030 targets, lower its emissions faster than planned, and remove surplus allowances from …

Greenwashing exposes climate of corporate inaction

Instead of cleaning up their businesses and business models to tackle climate change, top corporations are engaging in cosmetic change and greenwashing to improve their image. Why is this? Climate action is in the air. Like governments around the world, major corporations are falling over themselves to issue climate pledges and, in keeping with being …

Top corporations use misleading climate pledges to greenwash image, new report

Major global companies are avoiding meaningful climate action and are instead using false, misleading or ambiguous green claims, a new report shows. The first Climate Corporate Responsibility Monitor assesses the pledges made by 25 of the world’s largest corporations, many of them household names, against a set of transparent quantitative and qualitative indicators. Due out …

EU must stop subsidising polluters with hundreds of billions in free emissions allowances, green groups demand

Even though the European Union’s Emissions Trading System has already issued over €200 billions in free emissions permits, the European Commission is proposing hundreds of billions of euros of additional free allowances for polluting industries. Europe must scrap these pollution subsidies and make polluters pay the true price of their pollution, environmental NGOs urge EU …