News & Press
Carbon Market Watch Newsletter – June 2019
EU governments breach citizens’ right to information on international aviation climate policy Dear friends, As I write this at the UN Climate Change Conference, Bonn, along with the rest of Western Europe, is sweltering in the scorching heat, an uncomfortable foretaste of what an ever-warming climate has in store for us. I can only hope that…
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Barro Blanco: communities flooded despite rejected agreement – NGOs ask for withdrawal of CDM’s registration
On September 17, Ngäbe people rejected an agreement between top representatives and the government, signed only a month before. In the meantime, the test filling of the reservoir resumed which has flooded affected communities. Carbon Market Watch along with 80 other local and international NGOs, have called on the Panamanian authorities to withdraw the Barro…
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Barro Blanco: flooding suspended, international lenders pressured to act
Faced with intense national and international pressure, Panamanian authorities suspended the flooding of the Barro Blanco reservoir two weeks after it began. International lenders are being pressured by international NGOs as they have a key role in settling the situation. On May 22nd, Panama’s National Authority for Public Services (ASEP) announced a “test flooding” of…
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Barro Blanco: Panama urged to suspend hydro dam flooding amid growing concerns over human rights violations
In a move to bring the contentious Barro Blanco hydro dam project towards its completion, the Panamanian authorities have given the green light to begin flooding the reservoir. Affected indigenous communities still oppose the project, refusing to leave their endangered lands. Carbon Market Watch and other international NGOs have sent a letter to Panama’s President…
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Green Climate Fund under pressure after accrediting contested banks
Despite strong opposition from the civil society, the Green Climate Fund (GCF) Board last week in Songdo accredited two entities – HSBC and Crédit Agricole – that have been contested for money laundering, investment in fossil fuel and poor protection of human and environmental rights. This unveils the double standard poor track record plays in accrediting big or small entities.
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CDM Board to discuss human rights safeguards
Following numerous incidents of human rights violations related to CDM projects, the CDM Board will, for the first time, discuss options to address these concerns at its next meeting starting on 12 October. It will also discuss recommendations to overhaul the CDM’s local stakeholder consultation rules, including a requirement that projects must repeat consultations if they have not been carried out in line with national laws.
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UN body launches tender to buy carbon offsets, excludes substandard projects from eligibility
Last week, the United Nations Office for Project Services (UNOPS) closed a tender to buy 350.000 carbon credits from the Clean Development Mechanism (CDM). According to the Invitation to Bid (ITB), offset credits must meet high quality requirements to be eligible. Quality criteria exclude coal, HFC-23 and large hydro projects that do not comply with additional quality assessments and favour projects that demonstrate improvements to the health, safety and welfare of people and especially women living near the projects.
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UN launches new platform to offer stranded CDM carbon offsets
As part of the climate week in New York, the UN launched the “Go Climate Neutral Now” initiative- a new online platform to purchase carbon offsets generated by its Clean Development Mechanism (CDM). The initiative attempts to boost demand for CDM credits on the voluntary carbon market and for the aviation sector but fails to dodge the sale of bogus carbon offsets.
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NEWS: European lenders put pressure for Barro Blanco to go ahead
Barro Blanco – a CDM approved hydro dam in Panama – has entered in its most critical phase, following back pedaling from the government of Panama and threats by European lenders. Indigenous people set a deadline for the project to be cancelled.
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NEWS: Review of the CDM rules at the Bonn intersessions
Currently, parties to the UNFCCC are meeting in Bonn for a new round of climate negotiations. One of the topics that is on the table is the review of the Modalities and Procedures of the Clean Development Mechanism (CDM). Parties are thereby discussing rather “light” issues and shy away from more conflicting topics. But, when turning a blind eye on the necessity for more controversial themes, such as the establishment of a grievance mechanism, the review of the Modalities and Procedures may fall behind its great potential to improve the CDM for the future.
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