BRUSSELS, 7 July 2020. European Parliament environment committee members have voted to extend the EU carbon market to cover international shipping, to establish a maritime decarbonisation fund and to set a mandatory reduction target for the carbon intensity of shipping. Carbon Market Watch welcomes the decision as the first step towards putting a price on…
COVID recovery needs environmental strings attached Dear members, colleagues and friends, Recent months have been testing times for so many, as the global pandemic continues to pull on the very fabric of our societies. While many countries around the world continue to battle the health crisis, others are already looking at how their economies can start to recover from the impact. What should a COVID recovery…
The international shipping sector is also being impacted by the COVID-19 pandemic, and any government response to support this industry should accelerate the pathway to climate neutrality. Shipping accounts for 3% of global greenhouse gas emissions, and this could grow by between 50 and 250% by 2050 if no action is taken. A study from…
The annual carbon market survey by the financial market data analyst Refinitiv shows high confidence in the European Green Deal in strengthening the EU carbon market. First, the 80 respondents that answered to the questions about EU policies, see the EU emissions trading system (EU ETS) as the most important tool for reducing greenhouse gas…
4 key takeaways from MEP Guteland’s draft EU Climate Law report The lawmaker in charge of the EU Climate Law at the European Parliament proposes that the EU adopts a 65% emission target for 2030 and carbon budgets in line with the latest scientific data. She also calls on all EU governments to endorse the…
International transport can no longer dodge climate responsibility Dear friends, Two important climate meetings – on international aviation and shipping – will take place in March. International transport is not included in countries’ national climate pledges under the Paris Agreement. The task to address the massive climate impact of these sectors lies with the responsible UN…
The EU is considering putting a price on carbon pollution from ships in the absence of movement in the international talks. While not enough to curb the sector’s soaring emissions, bringing it under Europe’s carbon market would be a big step in the right direction. Right now finding the solutions to cut greenhouse gas (GHG)…
The failure to agree on rules for international carbon markets at COP 25 has been a victory for some and a disaster for others. Looking at it pragmatically, it was very much a “disaster averted” outcome since the rules on the table would have legitimised the use of markets riddled with loopholes. Far from ideal,…
Welcome to this latest edition of the WT! (Watch This!). In this edition we bring you campaign updates from COP25 in Madrid, Spain and actions from around the globe to sound the alarm bells on the climate crisis. Carbon Markets @ COP25 Negotiations on carbon markets have moved slow – the last remaining items of…
Sail to the COP – COP25 from two sides of the Atlantic Ocean Sail to the COP is a think tank and campaign advocating for sustainable travel. The aviation industry, for example, is a rapidly growing sector that alone is projected to emit more than the Paris Agreement carbon budget in 2050.. To put travel…
Kaisa Amaral, Communications Director
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