Carbon Market Watch’s Post

Read our September newsletter for the latest news and views from CMW. In this edition: ♦ The north-south divide in the voluntary carbon market ♦ The trouble with offsetting indirect emissions ♦ The wrong signal EU governments are sending by missing a crucial ETS deadline ♦ Why flying has double the climate impact of its CO2 emissions ♦ Space tourism and the billionaire space race to Mars reveal there is no Planet B for humanity ♦ How generous subsidies to industry endanger the Flemish Climate Fund ♦ FAQs and videos galore

All but one European Union member state have fallen foul of the date to enter the new Emissions Trading System for road transport and buildings (ETS2) in the national law books. This delay sends completely the wrong signal, argues Eleanor Scott. "The failure to transpose the ETS directive raises doubts about how serious the majority of EU governments are about living up to their climate targets and deploying ETS revenue to fund climate investments that reduce emissions and combat energy and transport poverty through the Social Climate Fund." https://lnkd.in/ehGGyMec

The Voluntary Carbon Market Integrity initiative (VCMI) has released a new framework for companies making climate claims about their indirect (scope 3) emissions. The new guidelines undermine VCMI's stated mission of combating greenwashing and promoting robust climate action. "[VCMI] should focus on guiding companies to adopt clear climate claims that not only incentivise action but also help consumers and investors make the right choices," says CMW's global markets lead Gilles Dufrasne. "It would be a shame for VCMI to lose some of its credibility by promoting a different, much weaker version of its own work, at a time when the world desperately needs ambitious action." https://lnkd.in/ecseeCB4

Space has become the final frontier for billionaut tourists. But what is the climate impact of space tourism and is it responsible during a climate crisis for the super-rich to go where no billionaire has gone before in search of thrills and a Planet B? "If space billionaires wish to guard the survival of human civilisation and help us thrive, they would be far better off directing their considerable resources to climate and environmental action here on Earth," concludes Khaled Diab. #space #tourism #spacex #blueorigin #climatecrisis https://lnkd.in/eShdZ4aJ

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The voluntary carbon market (VCM) is meant to channel finance into climate projects and provide buyers with cost-effective decarbonisation options. How does the VCM operate financially and is it effective? 🧐 How are carbon credits financed and traded? 🤑 Our latest explainer answers a series of frequently asked questions about the financial dimension of carbon markets: https://lnkd.in/ea798zKU