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Open letter on separate targets in 2040 climate framework

Letter sent to the European Commission by 110 academics, businesses, civil society organisations and research institutions urging the EU to separate emissions reductions, land-based sequestration and permanent carbon removals in the EU’s post-2030 climate framework. This separation should be at the heart of both the setting and the implementation of the 2040 target and associated …

Triple shock: Draft report would keep Europe’s carbon market in dysfunctional state

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.

Industry windfall profits from Europe’s carbon market

This policy brief interprets the findings of a new study by CE Delft that shows how energy-intensive companies in 19 European countries have massively profited from their pollution because they are deemed to be at risk of “carbon leakage”. “Carbon leakage” refers to a hypothetical situation where companies transfer production to countries with weaker climate policies in order to lower their costs. Under the current EU Emissions Trading System (EU ETS) rules, industrial companies that are believed to be at risk of “carbon leakage” are awarded free pollution permits.

Paris forges momentum towards enduring climate action

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.

New study adds pressure on UN climate talks to address hot air carbon credits

Brussels, 24 August. A new study by the Stockholm Environment Institute (SEI) finds that bogus carbon offsets issued under the Kyoto Protocols’ Joint Implementation (JI) offsetting mechanism to date have increased global emissions by 600 million tonnes CO2 to date. The study come timely as countries gear up for the next round of UN talks next week in Germany; they will need to work to ensure the new Paris climate treaty is not undermined, as Kyoto was, by hot air carbon credits.