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Outdated carbon credits issued under the Kyoto Protocol’s Clean Development Mechanism must be scrapped for the sake of the climate, argues Gilles Dufrasne.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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Net-zero illusions: The rise of ‘carbon-neutral’ fossil fuels

by Jonathan CrookCarbon dioxide removals, Climate finance, Decarbonising European industry, Global markets, Land use and forestry, Sustainable developmentPosted on Comments are Disabled

Like dry water and hot snow, carbon-neutral fossil fuels are pipe dreams and marketing gimmicks that do nothing to protect the climate, a new Carbon Market Watch investigation reveals. Jonathan Crook investigates. In case you haven’t heard, there’s a new greenwashing trend spreading like wildfire. It consists of oil and gas giants, like Shell, Total, …

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Net-zero pipe dreams: Carbon-neutral fossil fuel claims amount to greenwashing

by Khaled Diab2050 climate strategies, Carbon dioxide removals, Climate finance, Decarbonising European industry, Global markets, Land use and forestryPosted on Comments are Disabled

A new Carbon Market Watch report thoroughly investigates the growing number of fossil fuels that are being marketed as “carbon neutral” and concludes that they amount to brazen greenwashing. Published ahead of the COP26, the document challenges governments and industry to halt greenwashing practices and commit to binding fossil fuel phaseouts. Today, Carbon Market Watch …

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There is no cheating the atmosphere

by Wijnand StoefsCarbon dioxide removals, Climate finance, Decarbonising European industry, EU carbon market, Global markets, Land use and forestryPosted on Comments are Disabled

Simply throwing public money at misleading climate solutions, such as carbon capture and storage/utilisation, would be a huge mistake. Although books can be cooked, the atmosphere cannot be cheated. Back in June, fifteen Members of the European Parliament sent an open letter to European  Commisson Vice-President Frans Timmermans and Energy Commissioner Kadri Simson, Internal Market Commissioner …

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Watch This 4th Edition 2020

by Andrew CoileyClimate finance, Global markets, Land use and forestryPosted on Comments are Disabled

Dear members, friends & colleagues, Welcome to the 4th quarter 2020 edition of the Watch This, a civil society newsletter by Carbon Market Watch. In this edition we look at the damage caused to forest offset projects in California by the recent wildfires and question the validity of these carbon sinks that have quite literally gone up …

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ICAO decision on aviation carbon market rules a step in the right direction but fails to exclude all junk credits

by Kaisa AmaralAviation, Climate finance, Global marketsPosted on Comments are Disabled

MONTREAL/BRUSSELS, 14 March 2020. The UN aviation body ICAO’s Council has agreed to recognise carbon offsets from six existing offset programmes for use by airlines under CORSIA, the UN’s new carbon market for aviation. The Council’s 36 member countries also decided to limit the age of credits used as well as the type of projects eligible. However, the total supply of …

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EU starts taking just transition seriously

by Wijnand StoefsClimate financePosted on Comments are Disabled

The European Commission’s (EC) plan to mobilise more than 1 trillion EUR over the next 10 years to support the EU’s transition to climate neutrality sends a strong signal that the Commission is putting climate action at the centre of its work. It strengthens the case for raising the EU’s 2030 climate target to 65%. …

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Green finance must be people-friendly

by Gilles DufrasneClimate finance, Human rights in climate action, Sustainable developmentPosted on Comments are Disabled

Today, civil society organisations have sent out a letter to leaders of the European Commission to call on them to adopt financial investment rules which will benefit both the people and the environment. The letter is part of a wider effort from civil society to make sure that “sustainable” finance does not end up harming people …

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The road ahead for UN carbon markets

by Gilles DufrasneClimate finance, Global markets, Sustainable developmentPosted on Comments are Disabled

Scroll down for French and Spanish Another round of UN climate talks closed on May 10th in Bonn, where negotiators discussed the “Paris Agreement rulebook”, a set of rules to regulate how commitments put forward in Paris can be implemented starting in 2020. The rulebook is to be finalised by the UN climate change conference …

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