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Briefings
24 Nov 2020

Carbon markets and agriculture – why offsetting is putting us on the wrong track

A joint briefing by Carbon Market Watch, Secours Catholique, CCFD – Terre Solidaire and Institute for Agriculture & Trade Policy (IATP) Executive summary Climate mitigation projects in the agriculture sector, particularly those focused on storing carbon in soils, are increasingly being tied to carbon markets. But the impact of these initiatives is highly questionable. First,…

Briefings
31 Jul 2020

Carbon markets 101 – the ultimate guide to global offsetting mechanisms

Introduction This briefing gives an overview of the current discussions under Article 6 of the Paris Agreement which establishes the foundation for market-based climate measures after 2020. It lays out key lessons from the Kyoto Protocol markets, highlights essential issues within the Article 6 negotiations, and provides recommendations on how to solve them. It concludes…

Briefings
2 Dec 2019

Empty targets? How to avoid trading of hot air under the Paris Agreement

Executive summary A very large number of carbon credits has been created through the three carbon markets of the Kyoto Protocol: the Clean Development Mechanism (CDM), Joint Implementation (JI) and International Emissions Trading (IET). It is unclear what will happen to these mechanisms in the future and whether these old credits will be used under…

Briefings
2 Dec 2019

How to keep hot air out of the Paris Agreement – technical proposal

This document is addressed to Article 6 negotiators and Heads of Delegations at COP25, and proposes a detailed and structured text to address the issues described in the briefing “Empty targets? How to avoid the trading of hot air under the Paris Agreement”. Key numbers from the briefing: ● The potential supply of available CERs…

Briefings
29 Oct 2018

The Clean Development Mechanism: Local Impacts of a Global System

Executive Summary The Clean Development Mechanism (CDM) was set up under the 1997 Kyoto Protocol to allow developed countries to buy emissions reductions from developing countries in the form of credits, called Certified Emissions Reductions (CERs). The objectives of the CDM are to help developed countries achieve their climate commitment and to assist developing countries in achieving sustainable…

Briefings
31 Aug 2018

Reconciling CORSIA and the Sustainable Development Mechanism

Executive Summary The Paris Agreement breaks away from the division of “developed” vs. “developing” countries which was enshrined in the Kyoto Protocol. It sets a new dynamic which will inevitably impact the next generation of carbon markets. It further sets new objectives for these mechanisms, such as contributing to overall mitigation of global GHG emissions and…

Briefings
26 Apr 2018

Practitioner’s guide for local stakeholder consultation – how to ensure adequate public participation in climate mitigation actions

Introduction Over the past 20 years, global efforts to mitigate the effects of climate change have increasingly relied upon the implementation of local mitigation projects. While aiming to reduce emissions in the most cost-effective way, some of these projects have built up a record of adverse impacts on local people, resulting in the displacement of…

Briefings
20 Sep 2017

Pricing carbon to achieve the Paris goals

Executive Summary Putting a price on carbon, based on the polluter pays principle, has the potential to be a powerful policy tool to reduce greenhouse gas emissions in the fight against climate change. A carbon price can come in the form of a tax or a cap and trade system. With a tax, the price of polluting…

Briefings
4 May 2017

Building blocks for a robust Sustainable Development Mechanism

The Paris Agreement marks a new era for international climate action in general, and specifically for international carbon markets. Though the agreement does not mention markets per se, Article 6 paragraph 4 establishes what has become to be known as the Sustainable Development Mechanism (SDM) which builds on and shares some features of the Kyoto flexible mechanisms namely the Clean Development Mechanism (CDM) and Joint Implementation (JI).

Briefings
18 Apr 2017

Good-Bye Kyoto: Transitioning away from offsetting after 2020

The 2015 Paris Agreement, which sets out the framework for global climate action after 2020, includes the establishment of the Sustainable Development Mechanism (SDM). The goals of the SDM are to promote higher ambition that contributes to emission reductions and sustainable development, and deliver an overall mitigation of greenhouse gas emissions.