IPCC sees a need for CDR – nature-based AND direct air carbon capture and storage – of 7-9 Gt for the 1,5 Degrees target in 2050. The 2024 Emissions Gap Report writes that next NDCs “require a much faster progression through its formative phase to reach gigaton scale by mid-century“, mentioning 30-800 Mt of novel…
Author: jc
consutting attorney emissions trading
Article 6: Time to move on and further move the needle!
Time to move on! Last week I attended the 25th IEA/IETA/EPRI GHG Trading Workshop under the feet of the Eiffel Tower. It marked 20 years voluntary carbon market #VCM, involved in 2 bln CO2 project reductions/removals cumulatively. And the EU #ETS has in 20 years brought EU emissions down with 8,5 bln ton CO2, 50%…
Setting aside a budget for “ITMOs” can avoid dead-lock on Art 6 trade
A surprisingly high number of project developers across Africa and Asia are hoping to earn ‘Corresponding Adjustments’ (CAs) for their verified carbon units (VCUs), effectively converting voluntary VCUs into higher-priced Internationally Transferred Mitigation Outcomes (ITMOs) under the Paris Agreement. It is a common expectation, but rests on two shaky premises that could lead to disappointment…
Annual Paris Agreement Parties’ Summit more and more a political gathering; that brings extra risks
Last month’s annual climate summit in Belem, Brazil – CoP30 – is the meeting of the highest body of the Climate Convention and the Paris Agreement. On the one hand, annual operational and substantive decisions are made here, regarding reporting, the budget, progress on achieving climate goals, and guidelines for the carbon credit system. These…
Impact of the historic ruling of the International Court of Justice (ICJ)
What is the impact in practice of the historic ruling through the ADVISORY OPINION of the International Court of Justice (ICJ) of Juny 25, 2025? The ICJ advice said: Although the Advice is a ‘non binding ruling’, it is expected that countries can be seen accountable for climate damage by courts if they do not…
The Swedish Blueprint: CO2 Deals That Deliver on Climate Goals
At the recent Climate Summit in Baku, November 2024, world leaders took a bold step toward tackling the climate crisis. The summit gave the official green light for the use of carbon markets under Article 6 of the Paris Agreement, a mechanism designed to help nations meet their climate commitments while mobilizing much-needed climate finance…
Hague Court of Appeal will not establish an absolute reduction percentage for Shell
In its judgement on appeal the Court, November 12, 2024, considered the question whether Shell has the obligation under Duch Law to reduce all its global CO2 emissions by 45% by 2030 relative to 2019 levels. Milieudefensie et al. have sought a court order to this effect on the basis that Shell acts unlawfully if…
Updates and the future of carbon trading
Last week I joined for Anthesis the 24th annual GHG Trading Workshop by IEA-IETA-EPRI. I gave a presentation on the future of the carbon market, particularly EU #ETS after 2040. I highlighted how the EU ETS can get a #negative emissions target, gradually introducing carbon #removals from EU and global projects. Stephanie La Hoz Theuer of ICAP…