More energy-intensive industries will pollute for free after 2015

by CMWEU carbon marketPosted on Comments are Disabled

The European Commission has unveiled a list of 175 industries that will receive protection from the costs of climate change policies (“carbon leakage”) up to 2019. Surprisingly more financial support will be handed over to energy-intensive firms, despite there being no evidence for the occurrence of carbon leakage so far. Carbon Market Watch calls upon the European Parliament and Member States to reject the new list. Energy-intensive industries should not be allowed to pollute for free and therefore other measures to address carbon leakage should be developed for the post-2020 period.

New research urges accounting fixes for future climate policies

by CMWGlobal marketsPosted on Comments are Disabled

New research shows that a new climate deal must be based on multi-year, not annual, emissions budgets and comprehensively revised accounting rules to ensure the environmental integrity of targets and markets. In particular the reports call for an end to so-called double-counting of emissions cuts sold through offsetting mechanisms whereby the issuing and purchasing country both count a project’s emissions savings towards their targets.

EU ETS regulators fail to disclose carbon offset purchasing data

by CMWEU carbon marketPosted on Comments are Disabled

Today, the European Commission released data on the number of international offsets used in 2013 by companies in the EU Emissions Trading Scheme (EU ETS). Unlike previous years, the European Commission only released aggregate information which means it is no longer possible to check the origin of the 133 million offsets that entered the EU ETS in 2013. Carbon Market Watch, Sandbag Climate Campaign and the Climate Market & Investment Association (CMIA) strongly condemn this lack in transparency as it significantly reduces civil society’s ability to scrutinize the carbon offset projects that were used.

Press Release: Transparency in the EU Emissions Trading Scheme has been unnecessarily reduced – Crucial data hidden from Investors and Civil Society

by CMWEU carbon marketPosted on Comments are Disabled

The number of carbon offsets used in 2013 by companies in the EU Emissions Trading Scheme (ETS) was publicly released today but a dramatic reduction in the data made available was condemned by Sandbag Climate Campaign, the Climate Market & Investment Association (CMIA), and Carbon Market Watch.

New recommendations on CDM Reform

by CMWGlobal marketsPosted on Comments are Disabled

Carbon Market Watch has set out its views on reform of the Clean Development Mechanism (CDM). The proposals, sent in a response to a consultation launched last year, include provisions on how to ensure projects result in genuine net environmental benefits. The submission also includes detailed recommendations on how local civil society involvement should be regulated and how grievances should be handled when projects harm local communities or the environment.