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…
Under the Paris Agreement coal phase out commitments are a necessity if we are to meet the goal of staying below 1.5C warming. In recent years the world has witnessed increased divestment from coal and several OECD countries have already committed to dates by which they will no longer use coal for electricity generation. For…
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…
EU Green Deal at the heart of post-corona Europe Dear friends, Our leaders are hoping to clinch a deal in the coming weeks on the EU’s financial recovery package and the multi-annual budget. In September, we expect the European Commission to announce its proposal for an improved 2030 climate target. The science says that Europe…
First published in ECA Journal 02/2020: Climate Change and Audit By Sabine Frank, Executive Director, Carbon Market Watch In a world that is increasingly feeling the consequences of climate change, the idea of polluters paying for their pollution makes more and more sense. The EU’s Emission Trading System (ETS) reflects exactly that thought and is…
Carbon Market Watch webinar discussed opportunities and barriers to the decarbonisation of cement and steel sectors Europe will not become climate neutral without decarbonising its heavy industry. Technical solutions to achieve deep emission cuts in sectors such as steel and cement exist, but strengthening the EU carbon market and implementing a smart mix of policy…
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…
Blank cheque bailouts to polluters are not the way out of the pandemic Dear friends, This week we heard encouraging messages from the Petersberg Climate Dialogue, an annual global meeting of environment and climate ministers. In their video statements (how else?), leaders from across the world vowed to deliver a green recovery. Their message was…
Kaisa Amaral, Communications Director
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