Executive Summary The use of international offset credits was originally meant to be a cost containment tool. However, due to the economic crisis, EU emissions have been substantially lower than expected. This rendered the quantity limit of international credits for the period 2008 to 2020 too generous. According to the recent European Commission report “The …
Picture: cc @Doug88888 By Hannah Mowat, Carbon and Ecosystems Trading campaigner, FERN As a reader of Watch This! you will be well aware of the numerous problems the European Union Emissions Trading Scheme faces in terms of windfall profits for polluting companies, increased emissions, and delaying the move towards a low-carbon infrastructure. You …
Today, the EU Climate Change Committee approved a draft regulation by the European Commission that allows operators under the EU ETS to continue the use of more than 600 million offset credits for compliance with emission limits from 2013 to 2020. Carbon Market Watch calls on the European Parliament to review the quantity entitlements and to introduce quality restrictions that ensure that credits from business as usual projects that pose an immediate threat to the EU ETS will not be allowed.
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