Carbon markets continued to feature prominently and often worryingly at COP30. Carbon Market Watch witnessed a stark contrast between the optimism championed by the many initiatives promoting “high quality” carbon markets and the negotiation rooms where concerted efforts were made to water down Article
Efforts to dilute Article 6 rules risk turning the new UN carbon market mechanism into a false climate solution that harms both nature and global climate action
Few climate instruments are as controversial as carbon credit markets: some see them a cost-efficient way to reduce or remove emissions globally and to help the Global South in the bargain, while others see a failure to deliver sufficient climate benefits, as well as
Although the European Union has the means and capacity to wave goodbye to fossil fuels by 2040, EU environment ministers have backed an unambitious climate target for that year that unfairly shifts some of the burden for domestic climate action to the Global South
At the COP30 climate conference, countries that have cooled on climate action are set to exploit carbon markets to take the heat to act off themselves. But carbon markets are no substitutes for real emissions cuts and no replacement for climate finance.
Instead of listening to its own technical experts and scientific evidence, the body overseeing the UN carbon crediting mechanism has chosen to side with market players after intense lobbying efforts.
The European Union’s Carbon Removals and Carbon Farming (CRCF) framework risks worsening the financial situation of small-scale farmers, undermining rural development and could fuel land grabbing. The EU urgently needs a sustainable alternative in which both farmers and nature can thrive.
The International Organisation for Standardisation (ISO) and the Greenhouse Gas Protocol (GHG-P) decision to create common emissions accounting standards has the potential to streamline and simplify procedures. However, this must be done in a way that lifts climate ambition
The use of international carbon credits in the EU’s 2040 climate target could result in the outsourcing of 140 million tonnes to a whopping 430 million tonnes of emissions. It should be zero tonnes.
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