Showing all results

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
30 Nov 2015

Report: Using nature to pardon environmental pollution – Risks of agriculture sequestration carbon offsets

Agriculture supports the livelihoods of around a half of the world’s population, but is at the same time a notable source of greenhouse gas emissions (GHGs) driving climate change. As of one the options to tackle emissions in the sector, governments have been discussing to include additional agricultural activities into the Clean Development Mechanism (CDM) under the United Nations Climate Change Convention (UNFCCC) since 2011. Whether agricultural activities should be eligible for carbon offsetting programmes is not only topical within discussions in the UNFCCC but also within certain regional cap-and-trade schemes and discussions to establish a market based mechanism for international aviation emissions, expected to be adopted in October 2016 under the auspices of the International Civil Aviation Organization (ICAO).

Briefings
30 Nov 2015

Policy Brief: Fossil and biological carbon: a tonne is not a tonne

Whether biological carbon credit should be traded in carbon markets is topical, with discussions ongoing in the UNFCCC, ICAO and the California Cap-and-Trade system. To date, compliance markets have rejected the eligibility of biological carbon offsets. They are right to do so. Fossil and biological carbon operate on different parts of the carbon cycle, and on very different timescales. Fossil carbon is permanent; biological carbon is potentially and frequently subject to rapid fluxes, whether natural or manmade. For these reasons, offset credits from REDD+, afforestation and reforestation or other biological systems should not be treated as fungible with fossil carbon, but should instead be addressed through other, appropriate, policy measures.

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
25 Nov 2014

Views on the discussions on additional land use, land-use change and forestry activities (LULUCF) and specific alternative approaches to addressing the risk of non-permanence

Carbon Market Watch welcomes the opportunity to provide input on discussions on specific possible additional land use, land-use change and forestry activities and specific alternative approaches to addressing the risk of non-permanence under the Clean Development Mechanism (CDM).

Briefings
30 Oct 2014

Analysis of Europe’s 2030 Climate Ambition

During the night of 23 October 2014, EU leaders brokered a deal on the 2030 climate and energy headline targets. EU’s Heads of States settled on an EU-binding renewable energy target of at least 27%, an indicative energy efficiency target of at least 27% and an at least 40% binding domestic greenhouse gas reduction target…