Despite what European Commissioner Hoekstra has claimed, the EU ETS review proposal tabled on 17 July may be incompatible with the EU’s 2040 climate target. A review of the total CO2 emissions allowed by the proposal will be presented by Climact. The calculation will address gaps left by the Commission’s methodology, and cover total emissions …
Read more “Is the ETS proposal aligned with the 2040 climate target?”
The three key reasons why the Commission should consider that any option allowing the EU to rely on international credits to facilitate the achievement of its 2040 climate target is problematic
Carbon Market Watch’s position on the use of international carbon credits to outsource the EU’s 2040 climate target
Although the European Commission is meant to carry out a thorough impact assessment before proposing new policies, the European Union’s policymaking process is increasingly being influenced by business lobbies and guided by political expediency and whim. This approach will result in serious negative consequences.
The European Union has struck a deal on its 2040 climate target which, on paper, maintains the headline goal of slashing emissions by 90% but allows loopholes and backdoors that will result in hundreds of millions of tonnes of additional domestic emissions.
As the European Union institutions prepare to embark on the final negotiations around the bloc’s diluted 2040 climate target, there is one last chance to shore up some of the goal’s loopholes for the good of the environment and society.
Although the European Union has the means and capacity to wave goodbye to fossil fuels by 2040, EU environment ministers have backed an unambitious climate target for that year that unfairly shifts some of the burden for domestic climate action to the Global South and future generations.
This document contains Carbon Market Watch’s feedback to the European Commission’s proposal to amend the European Climate Law. It analyses the challenges and shortcomings of the proposal and makes a series of recommendations to remedy them.
The use of international carbon credits in the EU’s 2040 climate target could result in the outsourcing of 140 million tonnes to a whopping 430 million tonnes of emissions. It should be zero tonnes.
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