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…
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…
EU Climate Law: not emissions leaving the EU, but getting reductions in
#Breakthrough in EU Climate Policy: with the in the November 5 Environment Council meeting agreed #flexibilities, the ambitious climate EU 90% targets for 2040 are achievable, boosting carbon removals, and partly through the use of Article 6 Paris Agreement carbon credits also at lower cost and with global impact. What are the agreed areas of…
Insetting as efficient way to make climate impact in the own supply chain
A new climate strategy is gaining ground among companies to achieve their climate goals: insetting. This means offsetting or reducing CO₂ emissions within a company’s own value chain. This can replace investing in external reduction projects, offsetting: that compensating or reducing place outside company’s own supply chain. For example through tree planting or mangrove restoration…
Linking Carbon Removals to the EU ETS – with a net negative emissions target after 2040
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…
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…
Countries should take cooling targets
While we passed the 1,5° Degrees, as the IPCC predicted an overshoot, and reductions will bring temperatures down later, I believe that in addition to emission reduction targets, which only take effect after years, countries should additionally make temperature reduction commitments and start cooling their countries and cities. For example greening of about 1/3 of…