Climate 411

Could aviation loopholes swallow climate progress?

By Annie Petsonk / Published: December 11, 2018

Letting CDM credits into the aviation climate agreement could cut CORSIA’s effective participation from about three quarters down to less than 20 percent, negating its climate impact.

https://www.flickr.com/photos/dsleeter_2000/5081622399/

Airplane taking off from San Francisco. Flickr/ dsleeter_2000

As bleary-eyed negotiators at the UN Framework Convention on Climate Change Conference of the Parties (COP) in Katowice, Poland, struggle through late nights of haggling over rules for implementing the 2015 Paris Agreement, one challenge they face is how to energize a global competitive market for cutting climate pollution, while ensuring the integrity of that market.

Technical talks in the far recesses of the giant conference center are focused on two key issues: carbon credit quality, and accurate book-keeping.

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Posted in Aviation, Carbon Markets, News, Paris Agreement, United Nations / Read 2 Responses

Bad news and good news on cutting climate pollution

By Nat Keohane / Published: December 11, 2018

Climate change is an urgent threat and we must overcome significant hurdles to address it — beginning with the reckless polices of the Trump administration.

Some countries are on track to meet their commitments under the Paris agreement, some are falling behind, and many will not start in earnest until compliance rules are agreed to at the UN climate conference in Poland.

The climate action story so far is a mix of positive and negative trends. As has been well-covered in the media, the US is trying to pull out of the Paris Agreement and global emissions rose in 2018. Those hard facts cannot be dismissed. But there are also larger market and technology trends which, combined with the actions of responsible governments, are creating some positive indications, too. Which side wins out will depend on the action of political leaders, investors, engineers, voters, and activists.

The positive examples below are not simply individual bits of good news, but signs of a world economy in the midst of transition: Read More »

Posted in Clean Air Act, Economics, Greenhouse Gas Emissions, News, Paris Agreement, Setting the Facts Straight / Comments are closed

Momentum Builds for Agriculture at COP 24

By Breanna Lujan / Published: December 10, 2018

Plenary at COP 24 in Katowice, Poland. Flickr/ UNclimatechange

Agriculture negotiators arrived in Katowice, Poland eager to get to work on the Koronivia Joint Work on Agriculture (KJWA) during COP 24. The KJWA is a UNFCCC initiative directing the Subsidiary Body for Scientific and Technological Advice (SBSTA) and the Subsidiary Body for Implementation (SBI) to jointly consider how to tackle agriculture issues in the context of climate change.

Following the creation of the KJWA roadmap during the May 2018 intersessional in Bonn—which laid out an agenda of workshops, topic submissions, and workshop reports every six months between the 2018 intersessional and the end of 2020—negotiators agreed to continue their joint work on addressing issues related to agriculture, beginning with the first in-session workshop during COP 24 in Katowice. Over the course of the first week of the COP, it became clear that the negotiators were determined to keep the momentum going.

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Posted in Agriculture, Forest protection, Paris Agreement, United Nations / Comments are closed

COP 24: Transparency, ambition and carbon markets on the Paris rulebook agenda in Katowice

By Alex Hanafi / Published: December 3, 2018

See EDF’s COP 24 materials and meet our Katowice team at edf.org/cop24.

COP 24 Opening Plenary in Katowice, Poland. Flickr/ UNclimatechange

As the world’s leading climate scientists made clear in a recent special report, we are in the race of our lives against climate change, and we need to move faster. The Paris Agreement’s rapid entry into force in 2016 broke records, but records are also being broken outside of the UN that emphasize the urgency of action: record wildfires, record temperatures, record storms, record levels of carbon in the atmosphere.

So the stakes are high in Katowice, Poland, as countries meet to finalize the operating manual for the landmark Paris Agreement on climate change. In 2016, countries set themselves a deadline of this year to complete their task. Once agreed, the Paris “rulebook” will guide them in their efforts to implement the Agreement, including how countries will measure, report and hold each other accountable to their Paris commitments.

Two interrelated issues will be particularly important for the rulebook discussions in Katowice.

First is how to operationalize the Paris Agreement’s transparency system; transparency is vital to strengthening ambition and to the success of the agreement itself.

Second is how that transparency system should link to a new framework for international carbon market cooperation designed to spur the deeper emissions cuts that climate science demands. Read More »

Posted in Carbon Markets, Paris Agreement, United Nations / Comments are closed

Forests could be a hot topic at COP 24 despite not being on the agenda

By Chris Meyer / Published: November 29, 2018

Tanew River in Poland. Jozef Babij, Flickr.

Katowice, Poland was an odd location to pick for this year’s UNFCCC Conference of Parties (COP 24). The city is small and its ambiance may not be very conducive for climate negotiations (it is frigid, dark, and shrouded with coal smog in December). Yet this is where the important task of finalizing the rules of the Paris Agreement will take place. And while not directly on the negotiations agenda, it will be an important venue for discussion on forest policy and actions being taken in the sector.

In 2017, progress on forest protection was mixed, according to the New York Declaration on Forests’ annual assessment. For example, forest loss significantly decreased in Indonesia, but increased in Brazil. One of its more tragic findings is that more indigenous leaders and forest protectors are being murdered while trying to protect their forests and lands.

How forests are to be covered at COP 24
While forests will not directly be negotiated in Katowice, the negotiation tracks for market mechanisms, transparency, and guidance for constructing Nationally Determined Contributions (NDC) will affect forests. Conserving forests requires that we use all financial resources possible – public, market, and non-market.

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Posted in Forest protection, Paris Agreement, REDD+, United Nations / Read 1 Response

Full compliance, declining emissions, robust auction: It’s November in California’s cap-and-trade program

By Katelyn Roedner Sutter / Published: November 21, 2018

This post was co-authored by Maureen Lackner. 

Golden Gate Bridge Shutterstock

Golden Gate Bridge. © CAN BALCIOGLU / Shutterstock Images.

Today’s strong California-Quebec November 2018 carbon market auction results are the continuation of a month of good news about California’s landmark climate program. Cap-and-trade compliance is at 100% and emissions are falling, demonstrating that addressing climate change is an integral part of doing business in the Golden State.

November’s auction by the numbers

  • All 78,825,717 current allowances sold, clearing at $15.31, 78 cents above the $14.53 price floor and 26 cents above the August auction. This is the final auction before the floor price has its annual increase.
  • All of the 9,401,500 future vintage allowances offered sold at $15.33, 43 cents higher than in August. The current floor price of $14.53 will also increase for future allowances in the next auction.
  • An estimated $813,013,694 was raised for California’s Greenhouse Gas Reduction Fund, which will go to support climate investments across the state and further reduce greenhouse gas and local air pollution.

California’s market is strong & confidence is high

One critical data point showing the strength of this market is that the California Air Resources Board (CARB) reported 100% compliance from all entities covered by cap and trade for the three-year compliance period from 2015 to 2017. California businesses understand the program and know how to make it part of their business plan.

At the same time, greenhouse gas (GHG) emissions are falling, which is the key metric of program success. Read More »

Posted in California, Carbon Markets / Comments are closed