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Monthly newsletter | | February 2023

Dear reader,

Welcome to our first newsletter of 2023. The figurative presses have been churning at Carbon Market Watch. Hot off the press is our report, released just yesterday, which attempts to penetrate the fog surrounding the profits made by intermediaries in the voluntary carbon market. Read all about it below.

The second report will roll off the virtual presses on 13 February. The second edition of the Corporate Climate Responsibility Monitor trains a much-needed spotlight on the climate pledges of some of the world’s largest and most powerful companies. Register for the launch event to find out which corporations are green and which are greenwashing.

And Sabine Frank delves into the transatlantic spat over green subsidies, highlights some inconvenient truths and plots a way forward.

EDITORIAL

State aid to industry: Lifeline or gravy train?

The debate on EU industrial subsidies in the face of the US Inflation Reduction Act and against the backdrop of the Emissions Trading System (EU ETS) and Carbon Border Adjustment Mechanism (CBAM) deals raises some uncomfortable questions.

NEWS AND VIEWS

Climate profiteering: Are intermediaries exploiting carbon markets for their own ends?

Despite the role voluntary carbon markets are meant to play in financing climate action, the exact amount of money reaching climate projects and local communities is shrouded in mystery, while nine out of 10 intermediaries do not disclose their fees or profit margins, a new study commissioned by Carbon Market Watch reveals.

PUBLICATIONS

More publications

‘Briefing on the necessity and effectiveness of carbon leakage measures’

‘Emission Trading System for road transport and buildings in the policy mix for achieving climate neutrality in the EU’

‘The Western Balkans power sector: Between crisis and transition’

MULTIMEDIA

The ghosts of ETS past, present and future

Mr Scrooge and his friends in European heavy industry received a visit from three ghosts. The spirits showed the climate miser the consequences of his inaction and the greed of wishing to be paid for his pollution instead of paying for it. But will Scrooge mend his ways? Watch to find out.

Net zero or not zero: Are major corporations keeping their climate pledges?

Join us for the virtual launch of the 2023 Corporate Climate Responsibility Monitor and find out. Monday 13 February

3pm CET

Register now

Are carbon markets really financing climate action?

Carbon credits purchased through the voluntary carbon market are considered an effective way to channel finance towards #climateaction. However, it is often impossible to know how muchwill benefit the climate or profit intermediaries.

Find out more: https://carbonmarketwatch.org/publications/secret-intermediaries-are-carbon-markets-really-financing-climate-action/

CALENDAR

13 February

Online
Launch of Corporate Climate Responsibility Monitor

CMW IN THE MEDIA

‘Svetsko fudbalsko prvenstvo 2022: Šta će biti sa prvim privremenim mundijalskim stadionom’, BBC, 11 December 2022

‘Así se ha convertido el Mundial de Qatar en el más contaminante de la historia’, La Nueva España, 11 December 2022

‘Qatar: Air traffic casts doubt on carbon neutrality claim’, Deutsche Welle, 12 December 2022

‘豪掷2290亿美元，卡塔尔的「钞能力」何以实现碳中和｜焦点分析’, Sohu News, 12 December 2022

‘So schönt Katar die Klimabilanz der WM’, ZDF, 12 December 2022

‘Mondial 2022 au Qatar : pourquoi cette Coupe du monde ne sera pas neutre en carbone’, Sud Ouest, 12 December 2022

‘Les Européens proches d’un accord sur la « taxe carbone aux frontières »’, La Croix, 12 December 2022

‘EU aims for quick deal on carbon border levy’, Euractiv, 12 December 2022

‘COP15 debates whether biodiversity credits can put a value on nature’, Reuters 13 December 2022

‘Clima, la Ue vara la “tassa sul carbonio” che colpirà i prodotti importati. Ma ora deve eliminare i permessi gratuiti a inquinare’, Il Fatto Quotidiano, 13 December 2022

‘Qatar’s Olympics-style World Cup may not be ‘carbon-neutral’, as Fifa claims. But what to do to make future tournaments sustainable?’, South China Morning Post, 13 December 2022

‘More fights ahead for EU carbon border tax’, Politico, 13 December 2022

‘Pacific Islands’ proposed carbon levy on shipping could be a lifeline for developing countries’, Daily Maverick, 14 December 2022

‘World Cup 2022: How did water-stressed Qatar find enough for pitches?’, BBC, 15 December 2022

‘Cette Coupe du monde va-t-elle émettre "18 millions de tonnes de carbone", comme le déplore Sandrine Rousseau ?’, TFI Info, 15 December 2022

‘EU signals importance of carbon dioxide removals with new draft regulation’, Lexology, 15 December 2022

‘DN avslöjar: Regeringen tvingas backa från löfte om reduktionsplikten – eller betala miljarder’, Dagens Nyheter, 15 December 2022

‘Amid World Cup criticisms, is it time for sport to be greener?’, Reuters, 16 December 2022

‘Diese Bilder bleiben von der WM’, Der Spiegel, 16 December 2022

‘La historia de cómo llegó el césped a los estadios de la desértica Qatar para el Mundial’, La Nación, 17 December 2022

‘Not France or Argentina… Qatar could be real winner of this FIFA World Cup; here’s why’, Indian Express, 18 December 2022

‘Maritime Environment Protection Committee fails to set the course for shipping industry’s decarbonisation targets’, Daily Maverick, 18 December 2022

‘EU-klimaatakkoord: ook burgers gaan betalen voor uitstoot’, NRC, 18 December 2022

‘卡塔尔世界杯：争议碳中和’, QQ, 19 December 2022

‘Belangrijkste klimaatwet van Europa wordt nog belangrijker: dit moet je weten’, NU, 19 December 2022

‘CO2-Preis für Gebäude und Verkehr’, Frankfurter Allgemeine Zeitung, 19 December 2022

‘Clima, c’è un’intesa in Ue sulle emissioni (ma si continua a favorire i grandi inquinatori)’, GreenMe, 19 December 2022

‘Chi inquina paga (prima o poi)La riforma del sistema europeo di scambio di quote di emissioni è un compromesso bipartisan’, Linkiesta, 19 December

‘Climate-conscious Indians tap carbon credits for greener fun’, Reuters, 20 December 2022

‘Asian bourses join billion-dollar race to tap carbon offset boom’, Yahoo Finance, 20 December 2022

‘Mundial Catar 2022: la insostenibilidad ambiental de los macro eventos deportivos’, Público.es, 20 December 2022

‘亚洲碳交易所激增热钱涌入 专家质疑是否能影响气候变化’, Lianhe Zaobao, 20 December 2022

‘Unia nie zwalnia tempa w walce o klimat’, Rzeczpospolita, 22 December 2022

‘Fifa i nytt blåsväder – utreds för falsk miljömarknadsföring’, Göteborgs-Posten, 25 December 2022

‘La UE no se pone firme a la hora de hacer pagar a los contaminadores’, El Pais, 27 December 2022

‘Почему Украине важно не повторить ошибок хозяина ЧМ-2022 Катара’,

Новое Время, 4 January 2023

‘Post-COP27, carbon markets turn focus to pricing’, Seeking Alpha, 5 January 2023

'Mientras el turismo canario rechaza que las aerolíneas paguen por emitir CO2’, El Diario, 8 January 2023

‘"Carbon-Neutral" Advertising May Lead To Litigation’, MarketScreener, 1 February 2023

‘Sustainable Views: Should you offset your carbon emissions?’, Investors’ Chronicle, 1 February 2023

‘Government data, action could stem bloated carbon credit claims: experts’, Eco-Business, 1 February 2023