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Briefings
11 Jan 2022

A brief explanation of the Carbon Border Adjustment Mechanism (CBAM)

Our FAQ document on the EU’s Carbon Border Adjustment Mechanism (CBAM) explaining its objectives, how it will work in practice, which sectors are covered, what happens during the transition phase, and more. This is a downloadable PDF. The text is also available as a webpage: A brief explanation of the Carbon Border Adjustment Mechanism (CBAM).

Policy Submissions
13 Dec 2021

Joint NGO statement on the Carbon Border Adjustment Mechanism

Societies and businesses face increasing uncertainty due to more frequent and intense extreme weather events, instability in global energy and commodity markets, and unclear climate commitments by key international partners. The European Green Deal potentially provides a broad and strong suite of policy tools that have the power to create the necessary stability and certainty…

Policy Submissions
25 Nov 2021

Analysis and suggested amendments to the European Commission’s revised proposal for the EU ETS for aviation

The European Commission’s proposed revision of the EU’s Emissions Trading System for aviation and implementation of the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) lays out the groundwork for the welcome phasing out of free allocation. However, it fails to uphold, let alone strengthen, carbon pricing for the aviation sector by prioritising the risky and ineffective implementation of CORSIA over a full-scope inclusion of flights under the EU ETS.

Policy Submissions
17 Nov 2021

Principles for market-based measures to decarbonise international shipping

Submitted by the Clean Shipping Coalition (of which Carbon Market Watch is a member), this document summarises the key principles that any market-based measure (MBM) agreed at the International Maritime Organisation (IMO) level needs to follow in order for it to be a fair and effective tool for contributing to the decarbonisation of international shipping.

Policy Submissions
17 Nov 2021

Carbon Market Watch’s response to the public consultation on the European Commission’s proposal for a Carbon Border Adjustment Mechanism

The Carbon Border Adjustment Mechanism (CBAM) could offer a better hope of decarbonisation in energy-intensive industries than free allowances, and could create a first-mover advantage for EU industry in the global race to decarbonisation. However, this will only be possible if this tool is designed to provide real incentives for industries within and outside Europe…

Policy Submissions
8 Nov 2021

Carbon Market Watch’s response to the public consultation on the European Commission’s proposal for the revision of the EU Emissions Trading System

The revision of the EU Emissions Trading System (ETS) represents a huge opportunity to strengthen the Directive to ensure it is in line with the 1.5˚C target under the Paris Agreement. However, the European Commission’s proposal includes two major shortcomings that should be reconsidered. Firstly, the EU-wide 55% emission reduction target proposed is inadequate to…

1 Jul 2021

Companies use ”hot air” forestry offsets to avoid taxes in Colombia

CARBON MARKET WATCH’S FACT-CHECK OF VERRA’S RESPONSE A new investigation by Carbon Market Watch and the Latin American Center for Investigative Journalism (CLIP) has found that two large-scale forestry projects in Colombia create more credits than the amount of emission reductions that they are achieving. Fossil fuel companies use these credits to avoid paying a…

Briefings
30 Jun 2021

Two Shades of Green: How hot air forest credits are being used to avoid carbon taxes in Colombia

Update 1 July: Verra published a statement in response to this report, questioning its findings and accusing it of using flawed methodologies. Our response to Verra is available here. Executive summary The Colombian government adopted a carbon tax of approximately US$5/tCO2e covering fossil fuels in 2016. Companies can avoid paying the tax by purchasing carbon…

Briefings
30 Jun 2021

How can the EU Emissions Trading System support a union-wide coal phase-out

This policy paper complements the briefing “A New Hope – recommendations for the EU Emissions Trading System review” Introduction: The EU Emissions Trading System (EU ETS) has been hampered by a historical oversupply since its inception. Since 2019, some of the excess allowances are being absorbed by the Market Stability Reserve (MSR), and a portion…

Briefings
30 Jun 2021

Survival guide to EU carbon market lobby: debunking claims from heavy industry

Executive summary The Emissions Trading System (ETS) is a centrepiece of the EU’s climate policy and its main tool to reduce greenhouse gas (GHG) emissions from Europe’s industrial and power sectors. Until today, most of the emission reductions achieved under the EU ETS were driven by the power sector due to fuel switches in the…