OPEN LETTER regarding the use of offsets in the EU ETS

The letter expresses concern that 555 million carbon offset credits were surrendered into the EU ETS between 2008 and 2011, costing an estimated €5.9bn. The signatories argue that these offsets stifle domestic action, support business-as-usual coal and large hydro projects in the CDM, and allow for 'hot-air laundering' through Track 1 Joint Implementation, thereby threatening the environmental integrity of EU climate policies.

• Between 2008 and 2011, 555 million carbon offset credits were surrendered into the EU Emissions Trading Scheme (ETS), with an estimated cost of €5.9bn.
• The use of international offsets in the EU ETS is viewed as a barrier to domestic reductions, contributing to low carbon prices and diverting investment away from Europe.
• The Clean Development Mechanism (CDM) is criticized for providing financial support to coal-fired power plants in India and China and large hydro projects, both of which are described as 'business-as-usual' and lacking real emission reductions.
• Track 1 Joint Implementation (JI) is identified as lacking transparency and accountability, with 107 million ERUs issued compared to 13 million under Track 2, enabling 'hot-air laundering' by countries with large AAU surpluses.

APA

Carbon Market Watch (n.d.). OPEN LETTER regarding the use of offsets in the EU ETS. https://carbonmarketwatch.org/wp-content/uploads/2012/09/Open_Letter_quality_criteria_CDM-JI_CZ.pdf

Chicago

Carbon Market Watch. OPEN LETTER regarding the use of offsets in the EU ETS. n.d. https://carbonmarketwatch.org/wp-content/uploads/2012/09/Open_Letter_quality_criteria_CDM-JI_CZ.pdf.

Wikipedia

{{cite press release |author=Carbon Market Watch |title=OPEN LETTER regarding the use of offsets in the EU ETS |url=https://carbonmarketwatch.org/wp-content/uploads/2012/09/Open_Letter_quality_criteria_CDM-JI_CZ.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{carbonmarketwatchndopen, author = {{Carbon Market Watch}}, title = {{OPEN LETTER regarding the use of offsets in the EU ETS}}, publisher = {Carbon Market Watch}, url = {https://carbonmarketwatch.org/wp-content/uploads/2012/09/Open_Letter_quality_criteria_CDM-JI_CZ.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }