Four magic potions for the EU’s carbon market

by Femke de JongEU carbon marketPosted on Comments are Disabled

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.

EU’s official climate negotiation position fails to add up ahead of Paris

by Kat WattsGlobal marketsPosted on Comments are Disabled

Brussels, 18 September 2015. Today, EU Ministers signed off their official position for the Paris climate negotiations but failed to agree on a common timeframe for all countries to increase their mitigation ambition, and robust criteria to regulate the use of carbon markets. On the positive side, Ministers emphasized the need to address emissions from international aviation and shipping, and endorsed the need to protect human rights.

Media Statement: New report finds 2030 agriculture and transport reduction efforts may be wiped out by new loopholes

by Femke de Jong2050 climate strategiesPosted on Comments are Disabled

18 June 2015, Brussels. As the European Commission is consulting on options to cost-effectively reduce emissions in sectors not covered by the EU ETS a new study finds that a wrong design could undermine reduction efforts in the transport, agriculture, buildings and waste sectors by three quarters until 2030. This is because potential intra-EU offsetting options currently under discussion – for example allowing carbon permits from the EU ETS or using forestry offsets – do not represent real emission reductions.

Press Release: New report shows carbon offsets from Alberta’s tar sands jeopardize EU fuel quality rules

by Femke de JongEU carbon marketPosted on Comments are Disabled

Brussels, 17 December 2014. Today, the European Parliament adopted the proposal to implement the Fuel Quality Directive (FQD), opening doors for the use of offsets associated with Alberta’s tar sands. A report launched today shows how the oil companies’ lobby succeeded in watering down the measure, allowing their activities in Alberta’s tar sands to count towards achieving their EU decarbonisation obligations.

Press Release: New data shows China, Ukraine and Russia still benefit from EU’s Emissions Trading Scheme

by Femke de JongEU carbon marketPosted on Comments are Disabled

Yesterday, the European Commission released new data on the number and origin of carbon offsets used in 2013 by companies in the EU Emissions Trading Scheme (ETS). Despite new eligibility criteria that took effect in 2013 which should incentivise investments in Least Developed Countries (LDCs), the majority of offsets come from projects in China, Ukraine and Russia. Only 0.04% of offsets used came from LDCs.