In Doha Parties decided that the two JI tracks should be merged. However, all further decisions about JI were delegated to be discussed at the upcoming meeting in Bonn in June 2013. Below is a short summary of essential reform requirements needed. JI is currently divided into two “tracks”. Undder Track 2 an international board …
Read more “Joint Implementation reforms: too little too late? (Newsletter #3)”
The quest to prop up depressed CO2 prices in the European Union’s Emissions Trading Scheme (EU ETS) is continuing. After the narrow rejection of the back-loading proposal in April, the European Parliament is expected to have a second vote in July. Meanwhile, the scheme continues to be oversupplied by an estimated 2 billion allowances. Allowance …
Joint article by Carbon Market Watch and ClientEarth The EU’s Effort Sharing Decision (ESD) covers all sectors not included in the EU-ETS, except international shipping, aviation and LULUCF. These ESD sectors are responsible for 60% of the EU’s greenhouse gas emissions, yet current reduction goals in the ESD are very weak and can be met …
Read more “The EU’s Effort Sharing Decision (Newsletter #3)”
Last week, the European Commission released data about the 2012 use of offset credits in its Emission Trading Scheme (EU ETS). A large part of offset credits are from heavily criticised Joint Implementation projects and large-scale power plants under the Clean Development Mechanism. Carbon Market Watch calls for use restrictions of substandard carbon credits. Norway has been the first country to announce transitioning away from wind and hydro projects this year.
Despite severely over-supplied carbon markets and lacking mitigation commitments, countries are currently developing additional carbon market schemes. At the same time, countries are contemplating what changes are needed to the underlying rules of the CDM. They are also negotiating REDD and other approaches to reduce emissions from international aviation. Throughout all these developments it is of utmost importance to take into account the lessons from the past. In order to achieve real benefits for climate and people, your voice on carbon markets will be important!
By Adela Putinelu, Carbon Market Watch The International Civil Aviation Organisation (ICAO) is expected to agree this year on a market based mechanism to address aviation emissions. After the European Commission delayed its plan of including international aviation in its emissions trading scheme for one year, pressure is now on ICAO to ensure that …
Read more “Time to get in the loop! Nations must reduce aviation emissions (Watch This! #5)”
By Adela Putinelu, Carbon Market Watch The European Union Emissions Trading Scheme (EU ETS) is the largest emissions trading market internationally and the pillar of EU climate policy. But the scheme struggles with an over-supply of 2 billion tonnes of CO2, very low demand and record low allowance prices. Despite its controversial environmental integrity, …
Although the back-loading plan was meant to be a small intervention to prop up carbon prices, the last seven months of heated debates make this a ‘make or break’ deal. This past week, the Environment Committee in the European Parliament voted in favour of the European Commission’s ‘back-loading’ plan to amend the EU Emissions Trading …
This year is a crucial one for countries to finally address emissions from international aviation, which is responsible for 4.9% of man-made global warming. The Kyoto Protocol requires Parties to find solutions to mitigate emissions from aviation by working through the International Civil Aviation Organization (ICAO). Since Kyoto however, ICAO has proved to be incapable …
Read more ““Stopping-the-clock” on emissions from air travel – what’s the buzz? (Newsletter #2)”
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