The EU is expected to sign-off on its official international climate pledge – the so called Intended Nationally Determined Contribution (INDC), with an announcement on 6 March at the next meeting of the EU’s Environment Ministers. This announcement will make the EU the first region to flesh out its pledge following the Lima UNFCCC meeting. …
In December 2014 implementing rules to achieve the CO2 reduction target of oil suppliers in Europe were adopted. The newly adopted fuel standard opens doors for oil companies to use questionable offsets, including from heavily contested activities related to tar sand exploitation in Alberta. It is now up to EU Member States to take the red pen when transposing the rules into national law and avoid the CO2 reduction target to be severely undermined.
This month, South Korea became the second Asian country after Kazakhstan to officially start a national carbon market. The first carbon allowances that were traded on the Korea Exchange were sold at a similar price to that in Europe’s emissions trading system (EU ETS). South Korea’s ETS could therefore be a good candidate for linking with EU’s carbon market now that the EU is looking at linking as replacement for the barred use of international offsets. While linking can have significant consequences for the integrity of the EU ETS, the European Parliament is currently not in a position to scrutinize the linking negotiation process.
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.
The revised Fuel Quality Directive (FQD) has the objective of reducing the greenhouse gas intensity of transport fuels by 6% by 2020, compared to 2010. Recently a revised proposal for a Council Decision to implement the FQD was adopted by the Council and the European Parliament.
In October 2014 EU leaders agreed to at least 40% binding domestic greenhouse gas reduction target by 2030 compared to 1990. This significant move away from allowing the use of international offsets also puts into question the EU’s plans to link up carbon markets under a new climate treaty. Experience from the EU’s carbon market shows why international eligibility criteria for participation in the global carbon market are needed.
During the night of 23 October 2014, EU leaders brokered a deal on the 2030 climate and energy headline targets. EU’s Heads of States settled on an EU-binding renewable energy target of at least 27%, an indicative energy efficiency target of at least 27% and an at least 40% binding domestic greenhouse gas reduction target …
Today the EU’s Heads of State agreed on the main elements of EU’s 2030 climate and energy package and decided that policies for the land use, land use change and forestry (LULUCF) sector will be established before 2020.
Scroll down for French and German Brussels, 20 October. This week EU Heads of State are expected to agree on new headline targets for the EU’s 2030 climate and energy framework, including a target to reduce the EU’s greenhouse gas emissions by at least 40% by 2030 within the EU’s territory. Flexibility options to make …
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