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Investigation
25 Oct 2021

Net-zero pipe dreams: Why fossil fuels cannot be carbon neutral

Executive summary With fossil fuels being branded “carbon neutral” left and right, this Carbon Market Watch investigative report analyses 18 recent carbon neutrality claims in detail, uncovering that they amount to brazen greenwashing. These “carbon neutral” fossil fuel claims primarily concern liquefied natural gas (LNG) cargoes, with two relating to oil and condensate shipments. The…

Briefings
7 Jun 2021

Additional profits of sectors and firms from the EU ETS 2008-2019

This report by CE Delft was commissioned by Carbon Market Watch Summary This study has calculated the additional profits that sectors and companies have made from the EU ETS between 2008 to 2019 for the fifteen most CO2-intensive sectors plus aviation in nineteen EU countries. In our study we have investigated three types of profits:…

Briefings
7 Jun 2021

The Phantom Leakage – Industry windfall profits from Europe’s carbon market 2008-2019

Executive summary  Since its inception, the EU Emission Trading System (EU ETS) has been giving free allowances to most energy-intensive industries deemed at risk of carbon leakage.  “Carbon leakage” refers to a hypothetical situation where companies transfer production to countries with weaker climate policies in order to lower their costs.  This policy briefing interprets the…

Briefings
12 Apr 2021

A New Hope – Recommendations for the EU Emissions Trading System review

Update 12/04/2021: Adjustments to the infographics “EU carbon emissions” and “The effect of a one-off EU ETS cap reduction” Executive summary With total greenhouse gas emissions of around 700 million tonnes per year, resource and energy-intensive industry is the third-largest climate polluter in Europe. The cement, chemical and steel sectors alone are responsible for almost…

Policy Submissions
30 Mar 2021

Carbon Market Watch’s response to the public consultation on the revision of the Industrial Emissions Directive

Carbon Market Watch fully supports the comprehensive feedback provided by the European Environmental Bureau to the revision and welcomes the opportunity to give specific views on how the Industrial Emissions Directive (IED) should be revised to support industrial decarbonisation in a complementary manner to the EU Emission Trading System.   While we support the general direction…

Briefings
29 Oct 2020

10 Key Principles for a Carbon Border Adjustment Measure (CBAM)

With more information on the design options that the European Commission is considering for a Carbon Border Adjustment Measure (CBAM) and slightly more clarity on the different options available, Carbon Market Watch has updated its position and refined the key principles originally presented in the briefing “Carbon Border Adjustments: Climate Protection or Climate Protectionism?” published…

Briefings
7 Jul 2020

Cleaning up industry: why the EU’s strategy isn’t enough yet

Summary The new EU Industrial Strategy, released by the European Commission on 10 March 2020 as part of a larger industrial package, is the first sector-specific plan to be published since the European Green Deal was announced. It is an opportunity to put the EU economy on track towards climate neutrality, and put climate action…

Policy Submissions
10 Apr 2020

Carbon Market Watch’s feedback on the inception impact assessment on the Carbon Border Adjustment Mechanism

Carbon Market Watch fully supports efforts to price GHG emissions, within and outside the EU.  The EU ETS has been successful for certain sectors, but has failed to incentivise large scale decarbonisation of European industry, in part because of its excessive measures to guard against the hypothetical risk of carbon leakage. Industrial companies have gained…

Policy Submissions
5 Apr 2020

Carbon Market Watch’s feedback to energy taxation directive impact assessment

Carbon Market Watch welcomes the opportunity to provide feedback on the ETD revision. Several aspects of this directive are crucial to set the EU on a  pathway compatible with the Paris Agreement’s objectives. Carbon Market Watch supports the revision of the Directive, in particular with regard to the aim of “aligning taxation of energy products…

Briefings
31 Mar 2020

Carbon Border Adjustments: Climate Protection or Climate Protectionism?

Pricing greenhouse gas emissions is one of the most important tools to decarbonise economies, and it has been implemented in the EU since 2005 through the EU Emissions Trading System (ETS). As part of this policy, the heavy industry benefits from large exemptions and receives nearly all of its allowances (i.e. pollution permits) for free….