COP26: Kyoto-era carbon credits will not repay our debt to the climate

by Gilles DufrasneClimate finance, Global marketsPosted on Comments are Disabled

Outdated carbon credits issued under the Kyoto Protocol’s Clean Development Mechanism must be scrapped for the sake of the climate, argues Gilles Dufrasne. Carbon markets are high on the agenda of this year’s COP26 climate conference as countries meet again to agree on rules governing the Paris Agreement. One of the most contentious negotiation items …

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COP26: Five reasons why carbon markets (Article 6) matter

by Gilles Dufrasne2050 climate strategies, Climate finance, Global markets, National Energy and Climate Plans (NECPs)Posted on Comments are Disabled

Carbon markets are high on the agenda at the UN’s COP26 climate change conference. Carbon Market Watch’s Gilles Dufrasne has prepared this handy guide to explain the issues at stake related to Article 6. The next UN climate change conference (COP26) kicks off this weekend. One of the key items up for negotiation is the …

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Colombian fossil fuel companies abuse forestry offsets to avoid taxes – report 

by Gilles DufrasneGlobal marketsPosted on Comments are Disabled

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 …

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UN carbon markets face continued stand-off

by Gilles DufrasneGlobal marketsPosted on Comments are Disabled

Science and respect for human rights must be at the heart of any future rulebook After 3 weeks of technical discussions between country negotiators, little progress has been made to approach agreement on Article 6 of the Paris Agreement pertaining to carbon markets. Countries have even reinforced their stance on certain long-held positions, which in …

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Time to make Article 6 work for the climate

by Gilles DufrasneGlobal marketsPosted on Comments are Disabled

Going beyond zero-sum game offsetting to deliver real benefits For Carbon Market Watch’s overall perspective on Article 6, see here. CMW has also been publishing a series of technical submissions, responding to a call for input from the UNFCCC: April, May, June. The Paris Agreement Article 6 must go beyond the zero-sum logic of offsetting …

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UN negotiators search (yet again) for common ground on carbon markets

by Gilles DufrasneGlobal marketsPosted on Comments are Disabled

Paris Agreement Article 6 must reduce emissions fairly and effectively For CMW’s overall perspective on Article 6, see here. We have also been publishing a series of technical submissions, responding to a call for input from the UNFCCC: April, May, June. Technical discussions at the UN climate body UNFCCC on the Paris Agreement carbon market …

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Five stories from new voluntary offsets data

by Gilles DufrasneGlobal marketsPosted on Comments are Disabled

Scroll down for French and Spanish The recent uptick in interest for voluntary offsets invokes certain concerns, but it also comes with a few benefits. One of these is the push for more transparency. A new public database tracking information about voluntary offsets from the four largest standards was launched by Trove Intelligence. It adds …

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Alternatives to offsetting are no longer fringe

by Gilles DufrasneGlobal marketsPosted on Comments are Disabled

Carbon market stakeholders are slowly moving beyond the zero-sum game of offsetting towards alternative ways of financing climate action. This positive development will make the existing market more robust, helping to shield it from reputational risks and environmental integrity scandals. Offsetting – paying someone else to reduce emissions instead of reducing one’s own – has …

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Companies can do better than offsetting

by Gilles DufrasneGlobal marketsPosted on Comments are Disabled

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 …

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Up in smoke – California fires once again highlight dangers of forest offsets 

by Gilles DufrasneGlobal marketsPosted on Comments are Disabled

Scroll down for French and Spanish Companies are increasingly adopting “climate-neutrality” targets, which often include relying on forests to compensate for pollution. After yet another such offset project was swallowed by flames in California, unresolved questions about forest and land offsets resurface. It’s a simple tagline for green marketing campaigns: “Enjoy our product, it’s climate …

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