Climate negotiators’ failure last week to set emission-limiting rules for the Kyoto Protocol’s extension through 2020 was down to one paragraph on Ukraine’s greenhouse-gas targets, according to the European Union.
This year’s climate talks in Poland will attempt to establish a framework for rules governing industry-based carbon markets and non-market programs after 2020, according to the Centre for European Policy Studies.
United Nations envoys will probably restrict trading of surplus Kyoto Protocol allowances by countries and crimp an oversupply in carbon markets faster than expected, said Andrei Marcu, head of the Centre for European Policy Studies’ Carbon Market Forum.
The proposed linking of the European Union and Australian greenhouse-gas-reduction programs will demonstrate to policy makers across the world that carbon markets can help address climate change, said Andrei Marcu.
Russia and the European Union are among parties that haven’t agreed on a developing-nation plan to limit trading of a 13 billion-metric-ton surplus of Assigned Amount Units under the Kyoto Protocol, according to CDM Watch.
Europe will struggle to convince the rest of the world that carbon trading is the best way to tackle climate change if a plan to revive the price of the region’s permits fails, said the Centre for European Policy Studies.
United Nations envoys meeting in November should appoint a regulator to link carbon markets emerging from China to California and stimulate investment in emission-reduction projects, according to a carbon lobby group.
A suggestion by a high-level panel that the United Nations Green Climate Fund buy certain emission credits from the Clean Development Mechanism could help alleviate a supply glut, according to a research group.
The most ambitious market-based effort to control carbon emissions is being undermined by a glut of permits, amid allegations that European Union ideas to tackle the surplus are being leaked prematurely.