Open letter to Environment Ministers and delegates of all UNFCCC Parties: Increase ambition and close loopholes at COP18

The document argues that non-additional offset credits undermine climate protection and calls for the permanent cancellation of 'hot air' surplus permits, the strengthening of additionality criteria for Joint Implementation (JI) and the Clean Development Mechanism (CDM), and the banning of fossil fuel-based power projects from generating credits.

• The surplus of emissions permits, referred to as 'hot air', threatens the viability of future climate agreements and the second commitment period of the Kyoto Protocol. The authors demand that this surplus be restricted to domestic compliance and permanently cancelled by the end of the second commitment period.
• Joint Implementation (JI) is criticized for allowing 'hot air' laundering through the issuance of non-additional credits by countries with weak pledges. The authors propose that only countries with emission reduction pledges below their 2012 levels should host JI projects.
• The Clean Development Mechanism (CDM) is described as failing its goals of emission reduction and sustainable development. Research suggests up to 3.6 billion non-additional Certified Emission Reductions (CERs) could be issued by 2020, which would increase global emissions.
• Large-scale power projects, specifically those based on fossil fuels, are identified as unlikely to be additional and therefore harmful to the environmental integrity of the CDM. The authors call for a ban on new fossil fuel-based projects and a cessation of credits for existing ones.
• The CDM lacks international standards for monitoring and compliance regarding social and environmental impacts. The authors advocate for a formal grievance process for stakeholders and the application of human rights obligations to investors to ensure projects violating human rights are ineligible.

APA

Carbon Market Watch (2012). Open letter to Environment Ministers and delegates of all UNFCCC Parties: Increase ambition and close loopholes at COP18. https://carbonmarketwatch.org/publications/open-letter-to-environment-ministers-and-delegates-of-all-unfccc-parties-increase-ambition-and-close-loopholes-at-cop18/

Chicago

Carbon Market Watch. Open letter to Environment Ministers and delegates of all UNFCCC Parties: Increase ambition and close loopholes at COP18. 2012. https://carbonmarketwatch.org/publications/open-letter-to-environment-ministers-and-delegates-of-all-unfccc-parties-increase-ambition-and-close-loopholes-at-cop18/.

Wikipedia

{{cite press release |author=Carbon Market Watch |title=Open letter to Environment Ministers and delegates of all UNFCCC Parties: Increase ambition and close loopholes at COP18 |date=28 November 2012 |url=https://carbonmarketwatch.org/publications/open-letter-to-environment-ministers-and-delegates-of-all-unfccc-parties-increase-ambition-and-close-loopholes-at-cop18/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{carbonmarketwatch2012open, author = {{Carbon Market Watch}}, title = {{Open letter to Environment Ministers and delegates of all UNFCCC Parties: Increase ambition and close loopholes at COP18}}, publisher = {Carbon Market Watch}, year = {2012}, month = nov, url = {https://carbonmarketwatch.org/publications/open-letter-to-environment-ministers-and-delegates-of-all-unfccc-parties-increase-ambition-and-close-loopholes-at-cop18/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }