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Annual Report 2012


Following an eventful three years of watching carbon markets in Europe and internationally, a new not-for-profit association has emerged. The establishment of Nature Code – Centre of Environment & Development is the result of an initiative by former advisory board members of Carbon Market Watch (formerly CDM Watch), to advocate for policy solutions which promote genuine sustainable development, environmental integrity and good governance. The aim of this new association is to provide decision makers around the world with fact-based advocacy and to involve local communities in decision making processes.
2012 was a grim year for carbon markets. Lack of demand due to insufficient mitigation pledges and huge oversupply due to lenient rules led to a price collapse. Faced with such a dire scenario, sitting on the fence was never an option so we rolled up our sleeves and got stuck into campaigning for action at international, European and local levels. This first annual report shows how our watchdog initiative Carbon Market Watch, originally set up in 2009 to provide an independent perspective on the Clean Development Mechanism (CDM), has developed over time and now covers wider carbon market issues as the policy landscape has developed beyond the CDM. This report will lead you through a veritable roller-coaster ride, mapping out key accomplishments in 2012. In what turned out to be a whirlwind year, our activities ranged from bursting the gigantic balloon of 13 gigatonnes CO2-equivalent of “hot air”, to achieving a major victory against coal power projects in the CDM, to helping local communities negatively affected by CDM projects to be heard at international level. We have led these successful campaigns together with the large number of dedicated activists who make up our Network.
We look forward to continuing to work closely with our friends around the world in order to ensure that the protection and welfare of all living beings becomes the guiding principle of policy making, in the field of carbon markets and well beyond.

Eva Filzmoser
Chair of Nature Code

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