Carbon removals are no substitute for deep emissions reductions, warns IPCC

by Wijnand StoefsCarbon dioxide removals, Decarbonising European industry, EU carbon market, Land use and forestry, The EU Green Deal and Climate LawPosted on Comments are Disabled

Carbon removals will become a vital tool for reducing carbon concentrations in the atmosphere but only massive cuts in emissions will give humanity a fighting chance of keeping global heating to 1.5°C or below, says the UN’s Intergovernmental Panel on Climate Change (IPCC). The latest IPCC report, which was released in April, outlines various pathways …

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Designing a sound EU carbon market for buildings and transport

by Elisa MartellucciClimate finance, EU carbon market, The EU Green Deal and Climate LawPosted on Comments are Disabled

We can draw vital lessons from the functioning of the EU’s current Emissions Trading System to expand it to the building and transport sectors in a way that serves the climate and advances social justice. In its current shape, the EU’s Emissions Trading System (EU ETS) is far from perfect. It falls short on overall …

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Milking the EU’s carbon market cash cow for industry

by Sam Van den plasClimate finance, EU carbon market, The EU Green Deal and Climate LawPosted on Comments are Disabled

Rather than propose amendments to the EU’s Emissions Trading System that would take the heat off the climate and serve society, European parliamentarians are squabbling over the quantity of freebies to offer polluting industries. The process of revamping the EU’s Emissions Trading System is in full swing.  Members of the European Parliament’s Environment Committee have …

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March newsletter editorial: The Ukraine tragedy and the heavy price of war

by Sabine FrankCorporate climate responsibility, Decarbonising European industry, EU carbon market, Human rights in climate action, The EU Green Deal and Climate LawPosted on Comments are Disabled

The horror playing out in Ukraine disturbs and distresses the Carbon Market Watch team. We have discussed it amongst ourselves. We have expressed our solidarity with those who are affected. We share their anger at the Russian regime’s unwarranted aggression, senseless bloodshed and escalating destruction. We have joined Ukrainian activists in asking for the international …

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Higher carbon prices: Is speculation truly to blame?

by Agnese Ruggiero2050 climate strategies, EU carbon market, The EU Green Deal and Climate LawPosted on Comments are Disabled

The higher carbon prices on the EU’s Emissions Trading System (EU ETS) of the last three months have caused cross-sectoral concern. Many are placing unsubstantiated blame on speculative trading. But with speculation a minor problem at best, is flooding the market with more carbon allowances a solution or a dangerously reckless move? In the EU, …

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January newsletter editorial: Europe’s sustainable energy quandary

by Sabine Frank2050 climate strategies, Decarbonising European industry, EU carbon market, The EU Green Deal and Climate LawPosted on Comments are Disabled

Dear friends, Shortly before a dinner guest around our New Year’s Eve table asked me whether it will really be possible to satisfy all our future energy needs with electricity from renewable sources, the European Commission slipped through its controversial proposal for what constitutes green investment.  In the Commission’s draft addition to the green taxonomy, …

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How to make the EU’s carbon border tax effective and fair

by Agnese RuggieroClimate finance, Decarbonising European industry, EU carbon market, The EU Green Deal and Climate LawPosted on Comments are Disabled

As the EU steps up its efforts to introduce a Carbon Border Adjustment Mechanism, it is crucial that policymakers design the CBAM to support deep emission reductions while safeguarding the right of less-privileged countries to develop, writes CMW policy officer Agnese Ruggiero. French President Emmanuel Macron aims to prioritise the completion of the Carbon Border …

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A sustainable carbons cycle or a vicious emissions cycle?

by Wijnand StoefsCarbon dioxide removals, Decarbonising European industry, Effort Sharing Regulation, Land use and forestry, The EU Green Deal and Climate LawPosted on Comments are Disabled

Despite some good elements, the European Commission’s proposed carbon removal strategy leaves the door wide open to offsetting after 2030, which will undermine its ability to reduce emissions, writes Wijnand Stoefs. On 15 December 2021, the European Commission published its Sustainable Carbon Cycles Communication, which showcases its vision for carbon farming, industrial carbon capture and …

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

by Khaled DiabDecarbonising European industry, Effort Sharing Regulation, EU carbon market, National Energy and Climate Plans (NECPs), The EU Green Deal and Climate LawPosted on Comments are Disabled

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 …

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Unsustainable business cycles trump sustainable carbon cycles in EU’s CO2 removals strategy

by Wijnand StoefsCarbon dioxide removals, Decarbonising European industry, Effort Sharing Regulation, Land use and forestry, The EU Green Deal and Climate LawPosted on Comments are Disabled

The European Commission released today its much-anticipated Sustainable Carbon Cycles Communication. The strategy undermines its own goals of reducing atmospheric carbon concentration by allowing companies to use removals to offset their emissions in the future. The strategy sets out a blueprint for how the European Union can harness carbon dioxide removals and so-called carbon farming …

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