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Briefings
24 Nov 2020

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

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, agricultural offsetting schemes can be damaging to farmers. Some markets endanger food security and limit farmers’ autonomy by incentivising the uptake…

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
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
14 Oct 2016

The CORSIA: ICAO’s market based measure and implications for Europe

Executive Summary On October 6th, Member States of the International Civil Aviation Organisation (ICAO) agreed on an offsetting scheme to compensate for emissions growth from 2020 levels. The new scheme, called the Carbon Offset and Reduction Scheme for International Aviation (CORSIA), falls short of achieving the goal of carbon neutral growth in 2020 (CNG2020), let…

Briefings
5 May 2016

Cabin cross check: Safety criteria for aviation’s market-based measure

Summary Aviation accounts for approximately 4.9% of all global warming1 and is projected to grow by up to 300% by 2050 if left unaddressed. In order to limit the global average temperature rise to 1.5°C above preindustrial levels, international aviation must contribute to the global effort to reduce emissions. The International Civil Aviation Organization (ICAO), the international body responsible…

Briefings
22 Dec 2015

Paris outcomes: Carbon Market Watch Analysis of COP 21

From 30 November to 12 December 2015, Parties to the UNFCCC met in Paris to negotiate a new global climate treaty.

The Paris Agreement was a remarkable outcome, especially after the failures of Copenhagen. Almost all involved, including Carbon Market Watch, seemed surprised at how positive the outcome was. However, expectations had been carefully managed in the preceding years, so that aspirations of environmentalists to have a treaty that reflected the scientific reality by dividing up the remaining global carbon budget, had been downplayed into unreality.

Briefings
20 Nov 2015

Recommendations related to the role of carbon markets in the Paris Agreement

Only very few countries have outlined in their Intended Nationally Determined Contributions (INDCs) that they will use international trading as a means to help achieve their climate goals. However, despite the limited role of markets expressed by most industrialised countries in their INDCs, such as the EU and the US, the political reality regarding domestic carbon pricing schemes looks different: jurisdictions responsible for 40% of the global economy have already implemented carbon pricing mechanisms.

Briefings
27 Oct 2015

Policy Brief: Aviation’s Credibility on Environmental Integrity

ICAO is developing a Global Market Based Mechanism to achieve the goal of carbon neutral growth in the industry post-2020. Work is currently in progress to define which credits should be eligible to be used as offsets in this market.

Briefings
1 Sep 2015

Policy Brief: Social and environmental accountability of climate finance instruments

Climate change is a global injustice to present and future generations, and one of the greatest human rights challenges of our time. For one, climate change has a significant effect on several human rights, such as the right to safe and adequate water and food, the right to health and adequate housing, and the right to life. On the other hand, certain actions to address climate change can directly result in adverse impacts on human rights.