News & Press

Carbon Market Watch News
3 Nov 2015

New Polish government stands defiant on coal and climate progress

After the victory for Poland’s Law and Justice Party in the country’s recent elections, the position the country takes on the European Union Emissions Trading System (EU ETS) is likely to be one of even more defiant opposition. However, the EU ETS generates significant financial revenues for Poland. The billions of euros that the country is set to receive from the EU ETS can help the transition to a just climate friendly society in Poland, whose unprofitable coal mining sector represents an increasing burden on its finances.

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Carbon Market Watch News
3 Nov 2015

Green Climate Fund urged to reject accreditation applications from HSBC and Crédit Agricole

With the aim to approve first projects before COP21 in Paris, today the Board of the Green Climate Fund (GCF) will consider the first 8 funding proposals to receive Fund’s resources. Despite the opposition from the civil society, the Fund is also considering to accredit two high profile fossil fuel funders – HSBC and Crédit Agricole, – that are aiming to channel the Fund’s resources.

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Carbon Market Watch News
1 Oct 2015

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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Carbon Market Watch News
1 Oct 2015

UN Sustainable Development Summit paves road to Paris

The adoption of the new universal sustainable development goals (SDGs) has kicked-off a set of government actions to achieve a clean and prosperous future. Two major polluters, the US and China, announced a joint vision on climate change. China, UK and France ramped up climate finance to $17.5 billion.

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Carbon Market Watch News
1 Oct 2015

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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Carbon Market Watch News
23 Sep 2015

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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Carbon Market Watch News
3 Sep 2015

Uncertainty over Barro Blanco’s CDM approval

On the first of September tensions in Panama heightened when heavy machinery moved very close to the Ngöbe-Bugle Comarca to complete the highly contested Barro Blanco hydro dam, which is registered under the UN’s Clean Development Mechanism. This was preceded by the forceful eviction of indigenous people camping next to the construction area by the national police. In response to a letter sent by Panamanian civil society groups, the CDM Board has now reminded Panama about its right to withdraw approval for the project, “if it deems appropriate”.

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Carbon Market Watch News
3 Sep 2015

New study adds pressure on UN climate talks to address hot air carbon credits

A new study by the Stockholm Environment Institute (SEI) finds that bogus carbon offsets issued under the Kyoto Protocols’ Joint Implementation (JI) offsetting mechanism to date have increased global emissions by 600 million tonnes CO2 to date. The study came timely ahead of the ongoing round of climate talks in Bonn, concluding tomorrow, where countries need to work ensure that the new Paris climate treaty is not undermined, as Kyoto was, by hot air carbon credits.

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Carbon Market Watch News
3 Sep 2015

New policy brief compares accountability mechanisms of the UNFCCC’s climate instruments

As countries are streamlining the negotiating text that is to be adopted in Paris later this year, one key issue is how to ensure that the climate treaty sufficiently incorporates human rights.. A new policy brief released by Carbon Market Watch compares the social and environmental accountability of existing climate finance instruments and underlines the need for strong human rights language in the Paris agreement.

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