EU Carbon Removal CertificationEnd of October, the EU Council and the EU Parliament adopted their positions on the European Carbon Removal Certificates Framework (CRCF). Trilogue negotiations will now begin. In my view the carbon removals should eventually be accepted under the EU Emissions Trading System and help the meet the negative emission target after 2040…
Carbon Removals bridge Emissions Gap, supported by Carbon Market & Negative EU ETS Cap
The voluntary carbon market (VCM) plays an initial role for novel Carbon Dioxide Removal (CDR) demands and in the finance of storage of carbon dioxide, but will ultimately remain too small. The mandatory, regulatory CO2 market, like the EU ETS, is indispensable to deliver the amount of removals necessary. By 2040 CDR should be supported…
Outcome of CoP28 and difference between Art 6.2. country-to-country CO2 deals & Art 6.4. credit trade
The Global Stocktake Text gives a complete package to keep the 1,5 Degrees target within sight. It introduces a goodbye to fossil fuels use and countries promise to triple renewables power capacity, double energy efficiency, and reduce methane emissions. And it also asks to accelerate work on Article 6, including the carbon market and carbon removals….
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…
Countries should take cooling targets
I believe that in addition to emission reduction targets, which only take effect after years, countries should also make temperature reduction commitments and start cooling their countries and cities. For example greening of about 1/3 of the EU’s urban areas would reduce urban summer temperatures by 2.5–6°C! In its latest report, the IPCC warned of…
CO2 deals important for Paris Accord
Switzerland and Thailand in February 2023 further elaborated their initial deal and agreed that Switzerland will invest $100mln in Thailand in CO2 reduction projects. Thailand can transfer credits, such as 1,5 Mt of an E-Bus project, to Switzerland as #ITMOs if the cuts go beyond the Thai NDC target. Switzerland can then meet part of…
IPCC: global failure and hope
This weekend the Synthesis Report was adopted in Interlaken, Switzerland, of 6 recent IPCC reports on science, impacts, mitigation, landuse and oceans. It is a summary agreed by governments that sums up what governments can do to prevent the worse effects of climate change. The Synthesis will also be used in this years’ climate summit…
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…