Article submitted by Carbon Market Watch and published in issue #6 of ECO – the COP 21 NGO daily Newsletter ECO understands that several Parties are trying to get the high score for the new video game CAPMAN–our cute climate superhero fighting against Hot Air villains. Today’s winners are five EU countries (Denmark, Germany, the …
Paris is hosting the 21st climate summit and the hopes are high that the conference will produce a new climate treaty to help keep global warming to below dangerous levels. The measure of success of the Paris climate treaty hinges on its ability to promote new climate actions while containing the dangers that hot air …
A key consideration for the Paris treaty is how to incentivize real additional climate action while avoiding the laundering of bogus hot air credits. Under the Kyoto Protocol the lack of environmental integrity in market mechanisms has resulted in an 11 gigatonne hot air loophole. These hot air units are called AAUs which will not pose a problem for the Paris climate treaty since they cannot be used after 2020. However, the fate of the hot air units of existing domestic emissions trading systems still hangs in the balance.
24 November, 2015 3-4.30pm CET (Brussels) Description: Despite the domestic mitigation targets expressed by most developed countries in their INDCs, some countries, such as the EU, have expressed interest in using carbon markets under the Paris agreement. This event will discuss the potential role of carbon markets post-2020 and will focus on the impact of …
The current EU ETS rules have granted preferential treatment to industrial companies deemed at risk of “carbon leakage” in the form of awarding free pollution permits. The ongoing legislative process to revise the EU ETS rules for the post-2020 period provides an important opportunity to revisit the rules under which industrial sectors may be deemed at risk of carbon leakage.
In July 2015, the European Commission presented a legislative proposal to revise the EU’s Emissions Trading System (ETS) in order to implement the EU’s 2030 target of at least 40% domestic emission reductions. Although the proposal suggests a few improvements it fails to introduce much needed provisions that improve the mitigation potential of the EU ETS. A new Carbon Market Watch policy brief recommends four magic potions to turn the EU ETS into an effective climate mitigation tool.
In July 2015, the European Commission presented a legislative proposal to revise the EU’s Emissions Trading System (ETS) in order to implement the EU’s 2030 target of at least 40% domestic emission reductions. Although the proposal suggests a few improvements, it fails to introduce much needed provisions that improve the mitigation potential of the EU ETS.
Just when everyone started leaving for their summer holidays, the Commission published a legislative proposal to revise Europe’s carbon market to make it fit for the post-2020 period. The proposal was heavily criticized for failing to tackle the fundamental flaws of the EU ETS and increasing pollution subsidies to €160 billion to the EU’s biggest carbon polluters. However, there is still a chance for the European Parliament and Member States to turn the EU ETS into an effective tool to tackle climate change.
15 July 2015, Brussels. Today’s publication of the EU Emissions Trading System review proposes to increase pollution subsidies to industry to at least €160 billion after 2020. Carbon Market Watch strongly criticizes the proposal for watering down already weak provisions in the EU ETS directive and ignoring the polluters-pay principle.
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