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Legal framework for the possible use of international credits towards the 2040 EU climate target under the European Climate Law
Carbon Market Watch advises the European Commission against incorporating international credits into the EU's 2040 climate target. The organization argues that such a move would ignore scientific advice for 90-95% domestic emission reductions, violate the spirit of Article 6 of the Paris Agreement, and expose the EU to significant financial and reputational risks. The document highlights systemic failures in carbon credit integrity, including over-crediting and human rights violations, and estimates that relying on credits for 5% of the target could result in EU emissions being 50% higher than a fully domestic target, costing up to €49.7 billion.
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Document type: Statement