Policymakers must break the magnetism between carbon markets and carbon removals by putting in place non-market incentives. This requires a rethinking of the EU’s Carbon Removals Certification Framework process and setting the right targets for 2040.
This week, the rapporteur of the European Parliament’s Environment committee (Ian Duncan) published his draft report on the EU’s carbon market reform, kicking off the legislative debate. Disappointingly, the proposal fails to address the most pressing issues that need fixing in order to make the EU ETS fit-for-purpose and in line with the Paris climate agreement.
Scroll down for French and Spanish Following the adoption of the landmark Paris agreement, our plate will be full with important campaigns in 2016. Our objective? Ensure that policies are accountable and ambitious enough to achieve countries commitment to limit global warming to 1,5C. Here is a short overview of our priorities at the international level. …
Read more “Watch This! NGO Newsletter #14: Carbon Market Watch’s priorities for 2016”
Paris, 12 December 2015 – Today, at the UN climate talks in Paris a global deal where all countries have agreed to take action on climate change was adopted. Carbon Market Watch comments on the long-term goal, the ambition ratcheting mechanism, provisions for the use of markets, the establishment of a new mechanism, human rights provisions, bunker emissions, pre-2020 action and the impact of the Paris treaty on EU’s climate policies.
This month, South Korea became the second Asian country after Kazakhstan to officially start a national carbon market. The first carbon allowances that were traded on the Korea Exchange were sold at a similar price to that in Europe’s emissions trading system (EU ETS). South Korea’s ETS could therefore be a good candidate for linking with EU’s carbon market now that the EU is looking at linking as replacement for the barred use of international offsets. While linking can have significant consequences for the integrity of the EU ETS, the European Parliament is currently not in a position to scrutinize the linking negotiation process.
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