International offsets in the EU ETS –how it works and why it fails

July 14^th, Lunch Debate from 12.30 to 14.30

European Parliament – A5F 385

Half of the greenhouse gas emissions reductions to be achieved by the European Union (EU) by 2020 can be met by using international offset credits. The recent Communication on the potential move to a 30% target includes ideas for restrictions about the type of projects that will be allowed in the EU ETS beyond 2012 and more concrete proposals are currently being discussed by Member States and the Commission. While many industry associations still insist on the need for cheap credits, carbon market watchdog organisations CDM Watch, Sandbag and Environmental Investigation Agency present why restrictions are needed and how climate finance of about 800 million Euros currently spent per year can be put to better use.

At this event Sandbag will launch a new report and interactive map explaining exactly where European installations sourced their offset credits in 2009.

Agenda

12.30 Introduction:             Theodoros Skylakakis MEP

Presentations followed by a debate: Moderator: Gerben-Jan Gerbrandy MEP

• Sources of offsets used under the EU ETS in 2009: Rob Elsworth, Sandbag
• Concerns over the quality of offsets and potential options for the EU: Eva Filzmoser, CDM Watch
• An alternative regulatory approach to tackling industrial emissions: Fionnuala Walravens, Environmental Investigation Agency

14.15 Closing remarks:       Theodoros Skylakakis MEP & Gerben-Jan Gerbrandy MEP