The proposed adjustments and expansions in the European Emissions Trading System Review, (ETS), do more than strike a balance between climate ambition and competitiveness. The European Commission is also seeking a better balance between rewarding innovation and giving more time to sectors where emission reduction is most difficult. At the same time, it has added…
Category: Domestic Offsets
How to link Carbon Removals to the EU ETS
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 wrote 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…
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…
We have the Fund, 7 years rest to close the emissions gap; the CO2 market can help bridge it
The CoP27 climate talks in Sharm el Sheik ended in agreements, but the consensus rule made it extra hard this year, as many nations suffer climate disasters, war and energy crisis. I was not at the CoP this year, but was involved via the International Emissions Trading Association. Groundbreaking was, against the background described before,…
Nations develop strategies for a smart use of the global carbon market to help meet Paris goals
The Paris Agreement Parties adopted at CoP-26 in Glasgow in 2021 Art 6.2 guidelines, to make use of international carbon trading to help meet the Paris goals and a new centralized carbon credit issuing mechanism (Art 6.4). Parties are now preparing to operationalize these guidelines and to setup the Supervisory Body for Art 6.4, to…
Six tips to make the climate summit to a success
The annual climate summit, after a year of Corona postponement, is happening in Glasgow as CoP26, the first two weeks of November. I will attend the CoP for Climate Neutral Group. And I give hereby my six tips for the summit summarized in a few words: you get more ambition with more flexibility. My tips…
UN won’t make carbon markets ambitious & voluntary carbon markets spur ambition and transparency
During the on-line climate meeting the previous 2,5 weeks there was progress, the UNFCCC Executive Secretary said during the press briefing. However, that does not seem the case on the issue of guidance on the use of carbon markets to help increase ambition in the implementation of the Paris Agreement. “Talks on carbon markets and…
EU CO2 target requires flexibility. Switzerland signs a CO2 deal with Peru. Sweden prepares deals.
The European Commission’s “Impact Assessment”, presented with the climate proposals for 2030, describes various scenarios for achieving the CO2 targets. What is striking is that there is still a gap in the emissions budget. The Commission wants to promote CO2 storage in nature and soils through additional market incentives. That is indeed an important, but…