EU’s plan to link to Swiss carbon market adds pressure to announce an increased climate target

by CMWEU carbon market, Global markets, Land use and forestryPosted on Comments are Disabled

Tomorrow, the EU is expected to announce its climate contributions towards the Paris climate agreement. The expected decision will build on the European Commission’s Road to Paris vision published last week. Hopes are that Ministers take their chances to address a number of critical issues that risk severely undermining the 40% domestic reduction target. They include a clear commitment to increase the 40% target in case of linking the EU’s emissions trading system (EU ETS) with other carbon markets, the way land use emissions are accounted for and the threat the existing surplus of emission allowances pose on the 2030 climate target.

Swiss climate pledge will rely heavily on carbon markets

by CMWEU carbon market, Global marketsPosted on Comments are Disabled

Last week, Switzerland was the first country to officially submit its climate commitment ahead of the international climate agreement to be finalized in Paris at the end of this year. Switzerland announced a 50% emission reduction target by 2030, of which at least 30% must be achieved in Switzerland itself. The remaining up to 20% should be attained through purchasing carbon credits with “high environmental standards” applying a negative list and excluding projects that violate human rights but no criteria are proposed to assess the environmental integrity of ETS allowances.

Carbon Market Watch Network Coordinator – March 2015

by CMW2050 climate strategiesPosted on Comments are Disabled

Applications closing 22 March 2015 Purpose of the position Carbon Market Watch is seeking a dynamic Network Coordinator to strengthen the existing Network and adapt it to new challenges of the wider climate finance debate. The Carbon Market Watch Network connects NGOs and academics from the global North and South to share information and concerns about …

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European carbon market reform Must Succeed in Reality

by CMWEU carbon marketPosted on Comments are Disabled

In February members of the European Parliament voted to start the reform of the EU’s carbon market by 2019, and put almost 1.4 billion pollution permits that were due to come back to the market by 2020 directly into the new market stability reserve (MSR). Unfortunately the reform does not provide a structural solution for the lacking environmental effectiveness of the EU ETS, as around 800 million surplus allowances are allowed to flow back to the market again before 2030, diluting the EU’s 2030 target by 3%.

European Commission publishes vision on the Paris Protocol to tackle climate change

by CMWAviation, EU carbon market, Global markets, Land use and forestryPosted on Comments are Disabled

Today, the European Commission (EC) has published a first glimpse of the mitigation contributions the EU intends to contribute to the Paris Protocol. The Communication launched today entitled “The Paris Protocol – A blueprint for tackling global climate change beyond 2020” includes a proposal for the EU’s proposed Intended Nationally Determined Contribution (INDCs) prepared in …

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European Parliament takes a step to knock out Europe’s toxic tonnes…later than sooner

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Brussels 24 February. Today the European Parliament’s environment committee took the first steps to reform the EU’s Emissions Trading System. Following intense pressure from forward looking investors and civil society, policymakers agreed to curb the total amount of pollution permits in the system that would otherwise flood the market by 2020. This is expected to result in a stronger carbon price signal in order to let the polluter pay and support climate friendly investments in Europe. Policymakers unfortunately failed to agree to a timely start of the new Market Stability Reserve which will only become operational by 2019.

Geneva climate talks launch pledge to understand climate change impacts on human rights

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The first climate talks of 2015 concluded today in Geneva. Countries delivered a negotiation text that will form the basis for discussions at the next session in Bonn in June on the road to a Paris climate treaty later in the year. Environmental groups applauded the launch of the Geneva Pledge, an initiative to better understand the connection between human rights and climate change supported by 15 countries with more countries expected to join.

UN registered Barro Blanco Hydroelectric Dam temporarily suspended over non-compliance with Environmental Impact Assessment

by CMW2050 climate strategies, Global markets, Human rights in climate action, Sustainable developmentPosted on Comments are Disabled

PANAMA CITY, Panama and GENEVA, Switzerland In a landmark decision, Panama’s National Environmental Authority (ANAM) temporarily suspended the construction of the Barro Blanco hydroelectric dam yesterday over non-compliance with its Environmental Impact Assessment (EIA). The dam was approved by the UN Clean Development Mechanism (CDM) despite risks of flooding to the territory of the indigenous Ngäbe Bugle communities.

UN approved hydroelectric dam Barro Blanco suspended over community rights violations

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Following community protests by the indigenous Ngobe communities, Panama’s environment agency ANAM supended the Barro Blanco hydroelectric yesterday. The decision was taken because of breaches of the national environmental impact assessment requirements, including shortcomings in the agreement with the locally affected indigenous communities.