News & Press

Carbon Market Watch News
2 Apr 2015

News: Green Climate Fund’s decision to accredit first entities shadowed by intransparency over approval process

At the 9th Board meeting of the Green Climate Fund (GCF), which concluded last week in South Korea, seven entities were approved to pass through funding proposals by mid-year. However, the decision was criticised over the lack of transparency and stakeholder input in the process. The Board also adopted rules to screen project proposals but failed to exclude funding for fossil fuels. Expectations are now on countries to sign off the remaining US$4.5 billion for the fund that has been pledged in November 2014 ahead of the 30 April deadline.

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Carbon Market Watch News
2 Apr 2015

European Parliament discusses human rights dimension of EU’s climate finance contributions

Last week in an event in the European Parliament, various stakeholders discussed experiences with existing climate mechanisms against the future climate finance policy landscape, where potentially huge amounts of climate finance will not only be channeled through the Green Climate Fund (GCF) but also through bilateral agreements and other instruments where it is still unclear what types of safeguards and compliance mechanisms will be applicable and how the respective public and private stakeholders involved will be accountable.

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Carbon Market Watch News
5 Mar 2015

EU’s plan to link to Swiss carbon market adds pressure to announce an increased climate target

Tomorrow, the EU is expected to announce its climate contributions towards the Paris climate agreement. The expected decision will build on the European Commission’s Road to Paris vision published last week. Hopes are that Ministers take their chances to address a number of critical issues that risk severely undermining the 40% domestic reduction target. They include a clear commitment to increase the 40% target in case of linking the EU’s emissions trading system (EU ETS) with other carbon markets, the way land use emissions are accounted for and the threat the existing surplus of emission allowances pose on the 2030 climate target.

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Carbon Market Watch News
25 Feb 2015

European Commission publishes vision on the Paris Protocol to tackle climate change

Today, the European Commission (EC) has published a first glimpse of the mitigation contributions the EU intends to contribute to the Paris Protocol. The Communication launched today entitled “The Paris Protocol – A blueprint for tackling global climate change beyond 2020” includes a proposal for the EU’s proposed Intended Nationally Determined Contribution (INDCs) prepared in…

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Carbon Market Watch News
5 Feb 2015

Carbon offsetting projects challenged over their sustainability impacts

In Lima, Carbon Market Watch together with local Indian launched the ‘CDM Benefit Tracker India’, an interactive map that compares the sustainable development objectives outlined in CDM project application documents with eye witness accounts from local communities. Project owners have now been invited to comment on the results that find severe discrepancies between claims and local realities.

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Carbon Market Watch News
25 Nov 2014

Keeping the books on emission units

Accounting of emissions will be a cornerstone of a future climate treaty and is hugely important for the integrity of carbon markets as well as keeping us on track to limit global warming below 2°C. Lima will need to lay grounds for a rigorous accounting framework and robust unit quality requirements. It will also need to establish consistency to the ICAO process that is developing a global market based mechanism for aviation emissions.

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Carbon Market Watch News
25 Nov 2014

NOT SMART: climate smart agriculture in carbon markets

Proposals to include forests and land use activities in existing and new carbon markets will be discussed in Lima. But sequestration of carbon in land cannot compensate for continued fossil fuel emissions – fossil fuel emissions are permanent, whereas storing carbon in forests and soils is temporary and can be easily reversed by cutting down trees and ploughing fields.

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Carbon Market Watch News
29 Aug 2014

Deadly protests against Guatemala hydro dam leave questions over UN Board’s project approval

In June, the UN Board of the Clean Development Mechanism (CDM) approved the contentious hydroelectric project Santa Ritadespite serious concerns over human rights violations. On 15 August 2014, a repressive security operation against the Q’eqchies communities of Cobán, Chisec and Raxruha by more than 1500 national police officers led to the forceful eviction of some 160 families resulting in three deaths, 50 injured, and a negative mark on the mechanism’s future. Carbon Market Watch is now calling for a formal investigation of the repressive actions and for the CDM’s Board to implement a grievance mechanism for affected communities.

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