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…
Tag: Carbon Leakage
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…
European emissions system determines meeting agreed CO2 targets, fossil subsidies secondary
Abstract Many pleas for abolishing fossil subsidies fail to recognize the existence of the European Emissions Trading System: that system ensures that we meet agreed CO2 targets even before 2040. Fossil fuel subsidies do nothing to change that, while abolishing them could even lead to more overall greenhouse emissions and harm the competitive position of…
Tightening EU ETS leads to zero emissions before 2040
The tightened and expanded ETS CO2 trading system is part of the so-called ‘Fit for 55’ package and helps to achieve the total CO2 target of 55% reduction in 2030 (laid down in the European Climate Act). The new ETS is gratifying news: it leads to zero emissons already by 2039. With full implementation, the…
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,…
IPCC: “Net-Zero” approach helps meet temperature goal
Eventually all global emissions must be zero but we can win time with a “net” approach if we do a proper climate accounting. The report of Working Group III of the IPCC says “meeting the long-term temperature objective in the Paris Agreement implies a rapid turn to an accelerating decline of greenhouse gas emissions towards…
Quick Assessment EUs Fit for 55 Plan #FF55
See: EU Commission site
Hét moment voor een minimum EU CO2-prijs is nu
De EU kan zich met Merkel en Macron sterk maken voor een ambitieus klimaatbeleid. Omdat onder andere Duitsland, Nederland en Zweden een hogere CO2-prijs nodig hebben om energietransitie te versnellen en kolencentrales uit te schakelen, is dit het moment om de Europese Commissie te vragen een voorstel te doen voor een minimumprijs voor de veiling…