A small number of politicians are pushing to reverse course on the Emissions Trading System for road transport and buildings (ETS2). However, such a u-turn would fuel the climate crisis and cost European society and the economy dearly. Member states have all the tools to roll out ETS2 fairly and effectively but they need to act now.
The aviation industry is championing offsetting, carbon removals and other technical quick fixes to help it fly under the radar of climate action and avoid actual emissions reductions.
During the course of the new European Commission mandate, Member States are expected to raise more than 200billion in EU ETS revenues. Industry groups and governments are claiming these revenues to cover for their own costs, fill financial gaps, with little consideration to system needs and the principles guiding the ETS Directive. These revenues need …
Read more “Joint letter – EU ETS revenues from polluters to the people”
After receiving billions in state aid and free pollution subsidies to decarbonise its production, steel producer ArcerlorMittal put its clean steel projects on hold.
No airline has yet been obliged to use a single carbon credit under the UN’s Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). And when they will, CMW research reveals the European Union’s Emissions Trading System (EU ETS) imposes a carbon price on aviation emissions that is 25 times higher.
Carbon Market Watch is campaigning alongside eight EU and national civil society organisations for the imminent Emissions Trading System for road transport and buildings and the Social Climate Fund to deliver a fair and effective decarbonisation transition.
There is an increasing need for both public and private expenditure, and an availability of growing ETS revenues. Those delivering the most climate action must be rewarded.
Reducing emissions must remain the priority for policymakers, and should not be conflated with safeguarding natural carbon sinks or the sustainable usage of permanent removals. Carbon removals policy expert Fabiola De Simone explains.
This briefing in collaboration with NGO allies outlines the guiding principles necessary for a truly just Social Climate Fund
Heavily polluting industries are on course to receive the lion’s share of Emissions Trading System (EU ETS) revenue earmarked for Flanders between now and 2030, depriving the government of desperately needed resources to finance decarbonisation and a just transition. The Flemish government must change course
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