In this joint letter, Carbon Market Watch, WWF, CAN Europe, the EEB and other environmental organisations call on the European Parliament’s Industry, Research and Energy Committee (ITRE) to vote for ambitious reforms to the European Union’s Emissions Trading System (EU ETS) that will ensure that the EU’s carbon market will benefit the climate and lead to sustainable industrial decarbonisation in Europe.
Date: 27 April 2022 Time: 15:00-16:20 CET Carbon dioxide removal (CDR) refers to activities that take carbon dioxide out of the atmosphere, and store it permanently. Most IPCC AR6 decarbonisation pathways require some amount of carbon removals to keep warming to 1.5 degrees. However, risk-averse climate strategies aim to minimise the reliance on CDR as they can …
Read more “Carbon Dioxide Removal in the EU: pitfalls and opportunities”
We can draw vital lessons from the functioning of the EU’s current Emissions Trading System to expand it to the building and transport sectors in a way that serves the climate and advances social justice. In its current shape, the EU’s Emissions Trading System (EU ETS) is far from perfect. It falls short on overall …
Read more “Designing a sound EU carbon market for buildings and transport”
Rather than propose amendments to the EU’s Emissions Trading System that would take the heat off the climate and serve society, European parliamentarians are squabbling over the quantity of freebies to offer polluting industries. The process of revamping the EU’s Emissions Trading System is in full swing. Members of the European Parliament’s Environment Committee have …
Read more “Milking the EU’s carbon market cash cow for industry”
Steelmaking is one of the most carbon-intensive industries in the European Union. The sector emits 221 megatonnes of carbon dioxide each year. To ensure the EU achieves climate neutrality well before 2050, it is necessary to drastically reduce emissions in the steel sector. The EU’s Emissions Trading System is the key instrument for incentivising emissions …
Read more “Decarbonising Steel: Options for reforming the EU’s Emissions Trading System”
In this joint statement, Carbon Market Watch and 12 other NGOs urge EU member states to link the proposed Carbon Border Adjustment Mechanism (CBAM) to the reform of the EU’s Emissions Trading System (EU ETS). This includes abolishing free pollution permits under the EU ETS.
The EU Emissions Trading System (EU ETS) is often referred to as a cornerstone of EU climate policy. It aims to reduce emissions by pricing greenhouse gas (GHG) pollution from the power, industry and aviation sectors. It not only seeks to promote investments in emission reductions by making energy-intensive business as usual expensive, but it …
Read more “EU ETS 101- A beginner’s guide to the EU’s Emissions Trading System”
The horror playing out in Ukraine disturbs and distresses the Carbon Market Watch team. We have discussed it amongst ourselves. We have expressed our solidarity with those who are affected. We share their anger at the Russian regime’s unwarranted aggression, senseless bloodshed and escalating destruction. We have joined Ukrainian activists in asking for the international …
Read more “March newsletter editorial: The Ukraine tragedy and the heavy price of war”
The higher carbon prices on the EU’s Emissions Trading System (EU ETS) of the last three months have caused cross-sectoral concern. Many are placing unsubstantiated blame on speculative trading. But with speculation a minor problem at best, is flooding the market with more carbon allowances a solution or a dangerously reckless move? In the EU, …
Read more “Higher carbon prices: Is speculation truly to blame?”
