Six lessons from ICAO’s carbon market expert group report
In a recent report, the Technical Advisory Body (TAB) outlines restrictions for the types of carbon offsets that can be used by airlines under the new aviation carbon market CORSIA. The report provides valuable lessons for the Article 6 negotiations under the Paris Agreement.
Summary of lessons for the Article 6 negotiations:
- Old credits should not be used to compensate for new pollution
→ We recommend that only emission reductions from after 2020 should be used under the Paris Agreement
- Rules should be regularly reviewed
→ We recommend that Article 6 rules, or bilateral agreements under 6.2, be regularly reviewed to ensure that projects financed remain vulnerable and of high-quality
- A global agreement is necessary to ensure the avoidance of double counting
→ We recommend that corresponding adjustments be applied by countries for all emission reductions transferred
- The CDM is not fit for purpose
→ We recommend that no CDM units be allowed for use under the Paris Agreement and that all projects be re-assessed before they are transitioned into any new system
- The permanence of land-use credits is difficult to ensure
→ We recommend that no land-use credits be allowed under article 6 of the Paris Agreement
- The promotion of sustainable development and the avoidance of negative local impacts are a key component of carbon markets
→ We recommend that social and environmental safeguards be included under Article 6, that a grievance mechanism be established, and that clear rules for the consultation of local stakeholders be developed.
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