eu2030-loopholes

The document warns that a 'hot air bubble' of 4 billion pollution credits across the EU ETS and ESD could reduce the actual effectiveness of the EU's 2030 climate target from 40% to as low as 26%. It details how 1.35 billion tonnes of surplus credits in the Effort Sharing Decision and 2.6 billion excess allowances in the Emissions Trading System are created by weak targets, international offsets, and free permit allocations to industry. The author calls on EU Heads of State to disallow the banking of ESD surpluses and permanently cancel excess EU ETS allowances to prevent these 'phantom rights to pollute' from carrying over into the 2030 framework.

• A total of 4 billion pollution credits, described as a 'hot air bubble', could reduce the actual emissions reductions of the proposed 40% target to as low as 26%.
• The Effort Sharing Decision (ESD) is expected to accumulate approximately 1.35 billion tonnes of CO2-eq in surplus by 2020, consisting of 600 million tons from weak targets and up to 750 million from international offsets in developing countries.
• The EU Emissions Trading System (EU ETS) is projected to have 2.6 billion excess carbon credits by 2020, which automatically carry over into the 2030 framework and drive down carbon prices.
• Heavy industry has been over-subsidized with one billion more carbon allowances than necessary and is proposed to receive free allowances worth nearly €40 billion between the present and 2020.

APA

CMW (2014). eu2030-loopholes. Carbon Market Watch. https://carbonmarketwatch.org/2014/09/24/eu2030-loopholes/

Chicago

CMW. eu2030-loopholes. Carbon Market Watch, 2014. https://carbonmarketwatch.org/2014/09/24/eu2030-loopholes/.

Wikipedia

{{cite press release |last1=CMW |title=eu2030-loopholes |publisher=Carbon Market Watch |date=24 September 2014 |url=https://carbonmarketwatch.org/2014/09/24/eu2030-loopholes/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{cmw2014eu2030loopholes, author = {CMW}, title = {{eu2030-loopholes}}, publisher = {Carbon Market Watch}, year = {2014}, month = sep, url = {https://carbonmarketwatch.org/2014/09/24/eu2030-loopholes/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }