The purchase of carbon credits through the voluntary carbon market is widely considered to be an effective way to channel finance towards climate action. However, despite years of existence and the recent hype surrounding voluntary carbon markets, no public research exists to assess how much VCM finance is actually reaching climate mitigation projects and local …
Read more “Secretive intermediaries: Are carbon markets really financing climate action?”
Carbon Market Watch welcomes the opportunity to provide feedback to the IFRS S2 Climate-related disclosures standard. We focus below on questions 5, and 10 which cover the topics of target setting and reporting of information related to corporate climate mitigation action.
BRUSSELS, 30 June – A new investigation by Carbon Market Watch and the Latin American Center for Investigative Journalism (CLIP) finds that project developers exploit carbon market rules in Colombia to create more credits than the amount of emission reductions that the projects are achieving. These credits are then used by fossil fuel companies under …
Read more “Colombian fossil fuel companies abuse forestry offsets to avoid taxes – report “
Summary It is urgent to scale up private sector finance for climate action, but the current state of the voluntary carbon market is not fit for purpose. The TSVCM should first focus on addressing the serious quality shortcomings before the market can be scaled up. In particular, the future governance body of the TSVCM will …
Read more “Carbon Market Watch’s reply to the TSVCM’s second public consultation”
An NGO statement on forests in voluntary carbon markets Summary Forest protection and restoration is in urgent need of increased financial support, but cannot be used to offset fossil emissions Financial contributions should be directed at jurisdictional programs addressing deforestation and forest degradation, rather than stand-alone projects, as they provide incentives for improved land use …
Read more “Recommendations on forests in voluntary carbon markets”
New Year New Climate Momentum The private-sector task force, led by Mark Carney, has published its roadmap for “scaling up voluntary carbon markets”. More investments in climate action are, of course, more than welcome. But the task force should pay more attention to quality – instead of focusing on quantity. One striking omission in the new …
Read more “Carbon Market Watch Newsletter – January 2021”
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 …
Read more “The lengthened and stony road to Glasgow”
Relying on paying someone else to reduce emissions is risky and unsustainable. Therefore, private companies should stop “offsetting” and instead financially help poorer countries reach their climate targets and foster sustainable development. Voluntary carbon markets are booming as businesses across the world make climate-neutrality pledges. These plans often rely on the purchase of credits from …
Read more “Companies can do better than offsetting”
Carbon Market Watch’s reaction to the publication of the report by the task force on scaling up voluntary carbon markets BRUSSELS 27 January 2021 The report of the “Taskforce on Scaling Voluntary Carbon Markets” proposes the creation of updated quality criteria for carbon offsets and standardised reporting requirements but also leaves the door open for …
Read more “Private sector carbon market report evokes more concern than hope”
Vacancy for Policy Officer Carbon Market Watch’s mission is to ensure that carbon pricing and other climate policies cut pollution and drive a just transition towards zero-carbon societies. Given the urgency of halting the climate breakdown, we want market-based climate policies to fulfil their promise and be used in wise combination with regulatory and incentivising measures. Our strengths …
Read more “Carbon Market Watch is looking to hire a Policy Officer”
