Expectations related to the role of carbon markets in the Paris Agreement

The policy brief argues that any use of carbon markets post-2020 must be governed by strict environmental integrity standards to avoid 'hot air' and double counting. It recommends that the Clean Development Mechanism (CDM) undergo fundamental reform, including the adoption of social and human rights safeguards, to remain viable. The brief also calls for the exclusion of early action credits from post-2020 targets and urges the UNFCCC to demand greater emission reductions and adaptation levies from the international aviation (ICAO) and maritime (IMO) sectors. Finally, it advocates for the inclusion of human rights and gender equality protections in the core text of the Paris Agreement.

• To maintain environmental integrity, carbon market standards must ensure that mitigation outcomes are real, permanent, additional, and verified, while avoiding double counting and achieving a net decrease or avoidance of greenhouse gas emissions.
• The Clean Development Mechanism (CDM) requires fundamental reform to remain competitive and viable, specifically needing technology eligibility assessments, sustainable development indicators, and safeguards to prevent human rights violations and environmental harm.
• The document warns against 'hot air' credits, noting that the Kyoto Protocol's lack of environmental integrity created an 11 gigatonne loophole. It suggests that only Parties with ambitious, quantified absolute emissions reduction targets based on historical reference levels should be permitted to use market mechanisms.
• Credits for early action should only apply to commitments up to 2020 and must not be used for compliance with the post-2020 global climate agreement, as this would delay necessary deep mitigation actions.
• The International Civil Aviation Organization (ICAO) and the International Maritime Organization (IMO) should be required to reduce emissions according to their fair share of the 1.5C goal and implement levies to fund adaptation.
• The Paris Agreement should include explicit language in its operative part (specifically Article 2) regarding the respect and promotion of human rights, indigenous peoples' rights, gender equality, and a just transition for the workforce.

APA

Carbon Market Watch (2015). Expectations related to the role of carbon markets in the Paris Agreement. https://carbonmarketwatch.org/wp-content/uploads/2015/10/Carbon-Market-Watch-key-recommendations-for-a-successful-Paris-climate-deal_final1.pdf

Chicago

Carbon Market Watch. Expectations related to the role of carbon markets in the Paris Agreement. 2015. https://carbonmarketwatch.org/wp-content/uploads/2015/10/Carbon-Market-Watch-key-recommendations-for-a-successful-Paris-climate-deal_final1.pdf.

Wikipedia

{{cite report |author=Carbon Market Watch |title=Expectations related to the role of carbon markets in the Paris Agreement |date=October 2015 |url=https://carbonmarketwatch.org/wp-content/uploads/2015/10/Carbon-Market-Watch-key-recommendations-for-a-successful-Paris-climate-deal_final1.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{carbonmarketwatch2015expectations, author = {{Carbon Market Watch}}, title = {{Expectations related to the role of carbon markets in the Paris Agreement}}, institution = {Carbon Market Watch}, year = {2015}, month = oct, url = {https://carbonmarketwatch.org/wp-content/uploads/2015/10/Carbon-Market-Watch-key-recommendations-for-a-successful-Paris-climate-deal_final1.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }