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: emissiehandel
While EU prepares Carbon Removal Credits, Green Claim rules threat to block Companies from investing in them
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…
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…
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…
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…
Glasgow Outcome: Ambitious Carbon Market Rules
Glasgow Outcome in bullets …. accelerating efforts towards the phase-down of unabated coal power and inefficient fossil fuel subsidies, recognizing the need for support towards a just transition; On general ambition: See cover Decision 1/CMA.3 ‘Glasgow Climate Pact’, New country and group pledges on targets for 2030 and net zero in 2050 and on forest…