Last week, the clean development mechanism registered its 7,000th project. At a first glance, the statistics look impressive. Over a 10 year period, the CDM has issued 1.3 billion carbon credits, added 110,000 Mega Watts of renewable energy and seen US$215 billion invested in low carbon projects in the Global South.
Category: European Union
Why you should not buy voluntary carbon credits as an investment: A carbon trader explains
Voluntary carbon credits make a very poor investment. Nevertheless, there are many companies selling voluntary carbon credits to the public as investments and (unfortunately) many people buying them.
EU carbon price collapses: Carbon trading is not the solution to climate change
The EU Emissions Trading Scheme is in crisis. Yesterday, the European Parliament voted against the backloading proposal which was aimed at increasing the price of carbon permits. After the vote, the price of carbon permits dropped by about 40% to its lowest ever price of €2.63. New Energy Finance predicts that it might fall as…
The EU Emissions Trading Scheme has failed: “Time to scrap the ETS”
“No amount of structural tinkering will get away from the fact that the EU has chosen the wrong tool to reduce emissions in Europe. It is inherently too weak to get the EU to where it needs to be in the necessary timescale,” says Hannah Mowat from FERN. “The EU can no longer wait for…
Time to scrap the EU Emissions Trading Scheme
In an attempt to revive carbon prices in the EU Emissions Trading Scheme, the European Parliament’s Environment Committee voted yesterday in favour of postponing the auctioning of 900 million pollution allowances. The market’s reaction to the vote? A 20% slump in the price of EU allowances.