COP29: Carbon markets need to be fixed but are no quick fix for climate crisis
At the COP29 climate conference in Baku, negotiators need to fix Article 6 carbon markets but, most importantly, they need to fix the world’s failure to slash emissions.
Will Bonn reset lead to Baku handshake on Paris Agreement’s Article 6?
The latest round of UN climate negotiations in Bonn has laid the groundwork for the power players to finally agree at COP29 on transparency and wider quality issues of Article 6 carbon markets. Our CMW team reports.
No added value: Flaws of renewable energy carbon credits hidden in plain sight
Our latest report discusses how carbon credits from renewable energy projects are in oversupply and fail to deliver additional climate benefits
Carbon Market Watch’s recommendations to Article 6 negotiators at SBSTA 60
Carbon Market Watch has prepared a set of recommendations for Article 6 negotiators ahead of the UNFCCC climate change conference taking place in Bonn from 3-13 June 2024 (SB 60).
Architects of UN carbon market must not sacrifice human rights in the interest of speed
The body responsible for supervising the new UN carbon market mechanism must abandon the inadequate rules for social and environmental safeguards and return to the drawing board.
Comparison of the Article 6.4 grievance process and the UN Green Climate Fund’s Independent Redress Mechanism
To illustrate the differences between the Article 6.4 grievance process and the UN Green Climate Fund’s Independent Redress Mechanism, we compared these two avenues for remediation with the UN Human Rights Council’s seven effectiveness criteria for grievance mechanisms as outlined in its Guiding Principles on Business and Human Rights. From this overview, the contrast becomes clear: the Article 6.4 grievance process performs significantly less well on all seven effectiveness criteria. The Article 6.4 Supervisory Body must therefore urgently rethink its approach to this crucial component of the 6.4 mechanism.
The EU’s double counting problem
Motivated by a desire to keep down the cost of achieving its climate targets, the EU has failed to rule out the double counting of emissions reductions under its Carbon Removals Certification Framework. By so doing it is undermining established standards and its own policies.
Recommendations for the key topics under Article 6 of the Paris Agreement
Prepared for the Bonn Climate Change Conference 5-15 June 2023 Carbon Market Watch welcomes the opportunity to provide input to the discussions on matters relating to Article 6.2 (plus one in 6.4) of the Paris Agreement ahead of the UNFCCC’s 58th session of the subsidiary bodies. Sequencing and timing ● A step-wise process consisting of clearly …
Read more “Recommendations for the key topics under Article 6 of the Paris Agreement ”
Blocked avenues for redress: Shedding light on carbon market grievance mechanisms
The standards bodies operating in the voluntary carbon market must ensure that climate projects take the rights and concerns of local and indigenous communities into account and offer them avenues for redress. A review conducted on behalf of Carbon Market Watch found that only one standard body, Gold Standard, provides appropriate recourse to file grievances …
Read more “Blocked avenues for redress: Shedding light on carbon market grievance mechanisms”
The lengthened and stony road to Glasgow
A reminder of the tricky issues of agreement on global carbon market rules in the context of ratcheting up climate ambition Raising ambition is the primordial task for governments ahead of and at the next UN climate conference. But it will also be essential to finally agree on the rules that will govern global carbon …
