Carbon Market Watch

New Webinar 📅 Wednesday, 22 January 2025 ⏰ 16:00-17:45 CET Delve with us into the current and proposed policies surrounding carbon dioxide removals (CDR) across both sides of the Atlantic 🌍 Speakers include experts from: • The US: Katie Lebling, World Resources Institute (tbc)  > California: Danny Cullenward, the University of Pennsylvania   • The UK: Josh Burke FRSA, the The London School of Economics and Political Science (LSE) • The EU:  Fabien Ramos, European Commission > Germany: Claudia Gibis, German Federal Ministry for Economic Affairs and Climate Action (tbc) You can register now: https://lnkd.in/dfDUCaQH

It was another bumper year for the EU’s Emissions Aristocracy. We got in touch with Santa who kindly revealed that a whopping 560,459,248 tonnes of CO2 emissions were granted for free under the Emissions Trading System to the EU’s top polluters. Less ho, ho, ho and more no, no, no. At the average 2023 EU ETS carbon price of €85.30 a tonne of CO2 that means the EU’s top polluters collectively dodged an astronomical €47.8 billion in 2023. Although these freebies will gradually be phased out from 2026, the EU will still grant free pollution permits well into the 2030s. This elite group representing Europe’s heavy industries has enjoyed polluting for free during the climate crisis for far too long. For context, between 2013 and 2021, large polluting industries received a total of €98.5 billion in free allowances - more than what EU member states collected from ETS revenues during the same period (€88.5 billion). As a New Year’s resolution, the EU must resolve to make these polluting industries take their climate responsibilities seriously. The polluter must pay. Santa counts down the companies enjoying a very happy ETSmas, ranked 10th to 1st on his polluting naughty list. 🎅 More on the EU's Emissions Aristocracy: https://lnkd.in/eTDfxZdi

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. Bastien Bonnet-Cantalloube delves into some of the false or questionable solutions being propagated in the sector. #aviation #climateaction https://lnkd.in/ega2v2dK

*Today* I am thrilled to be moderating a panel at the Global Action Hub on Waste Methane and Environmental Justice Quarterly Meeting with an amazing panel of experts: 🍀 Donovan Storey, Climate & Clean Air Coalition Overall results of COP29 on waste methane 🍀 Ana Lê Rocha, GAIA (Global Alliance for Incinerator Alternatives) Report back and insights from INC5 🍀 Jonathan Crook, Carbon Market Watch Article 6: implications on the ground 🍀 Amani Maalouf, University of Oxford Dumpsites and landfills on the spotlight 🍀 Victor Hugo Argentino de Morais Vieira, Instituto Pólis Expectations on the waste methane agenda towards COP 30 TODAY Dec 12 6 AM California / 11 AM Chile / 2 PM London / 4 PM Cape Town / 9 PM Jakarta Spanish and Portuguese interpretation available. Register here: https://lnkd.in/g4sD8cxs The Global Action Hub on Waste Methane and Environmental Justice is an international online discussion space for global participants to collectively assess, address, and celebrate the advancements of #methane reduction with an #EnvironmentalJustice lens in the waste sector. It is an open space to support all those working on this agenda and share expertise, strategize, celebrate, and ultimately hold an accountability space for #environmentaljustice in the intersection between #waste and #climate.

Human Rights Watch and SOMO write in Al Jazeera English about the "human rights shaped hole" in the voluntary carbon market which their investigations exposed in Cambodia and Kenya. https://lnkd.in/diVGQGbA In addition to violations by a carbon market project against indigenous communities in Cambodia, HRW uncovered significant issues in Verra's grievance mechanism. CMW has also previously found similar shortcomings. On behalf of CMW, Lindsay Otis Nilles filed today a complaint to ICVCM regarding Verra's non-compliance with the ICVCM Assessment Framework's provisions on grievance mechanisms in its handling of HRW's investigation of the Southern Cardamom REDD+ project in Cambodia. https://lnkd.in/dDKWMmsW

🚢 Prix du carbone maritime: Découvrez nos résumés des propositions à l'OMI ⬇️ Les résultats de notre évaluation des mesures économiques proposées par les États membres de l'OMI pour atteindre des objectifs climatiques sont maintenant disponibles en français. 📊   Principales conclusions : A+   pour le Belize et al. B     pour l'UE et le Japon C     pour les Bahamas et al. C     pour le Canada Les Etats devront trouver un accord ambitieux à la prochaine réunion en avril 2025 ! 🔗 Vous pouvez en savoir plus et rester informé des discussions à venir à l'OMI ici : https://lnkd.in/dfKuhpRz

🚢 Los precios del carbono en el sector marítimo: Resumen de las propuestas en la OMI ⬇️ Los resultados de nuestra evaluación de las medidas económicas propuestas por los países miembros de la OMI para alcanzar los objetivos climáticos ya están disponibles en español. 📊 Hallazgos clave: A+    para Belice et al B      para UE y Japón C      para Bahamas et al C      para Canadá ¡Los Estados deben llegar a un acuerdo ambicioso en su siguiente reunión en abril de 2025! 🔗 Puede leer más y mantenerse informado sobre los próximos detalles relativos a la OMI aquí: https://lnkd.in/dfKuhpRz

In the festive special of our newsletter, Christmas has come early for heavy industry. In this edition: ⚫ The curious case of a steel giant that received billions in state aid and subsidies to decarbonise, only to shelve its decarbonisation plans ⚫ The CO2olest show in town ⚫ Taking stock of COP29 ⚫ Battle in the skies between the EU ETS and the UN's CORSIA

The Integrity Council for the Voluntary Carbon Market (ICVCM) must listen to the concerns of its expert advisers and act upon them.

🚨EU Emissions Trading System revenue must be used to support people, not polluters, NGOs demand As the new European Commission begins its mandate, we urge policymakers to use the revenue raised from the EU Emissions Trading System (ETS) wisely. The €200 billion expected to be raised by 2030 must prioritise real climate action and shield vulnerable citizens from the costs of the transition. Carbon Market Watch and 27 organisations (and counting) are calling for: ✅ Support for low-income groups through ETS2 revenues and  the Social Climate Fund ✅ Amendments to the EU ETS Directive to ensure the "Do No Significant Harm" and additionality principles guide the use of revenue ✅ Focused investments in industrial decarbonisation, phasing out free allowances, and ending indirect cost compensation ✅ Strict monitoring of spending to ensure it follows the ETS Directive The transition to a greener economy must be financed fairly — it’s time to make polluters pay for the transition, both in Europe and globally. ✍️ Let’s ensure ETS revenues truly serve the people and society → Join us in urging the European Commission to prioritise climate and social justice in the use of ETS revenues: https://lnkd.in/dJKTbjJP