{"id":196044,"date":"2025-06-19T03:02:09","date_gmt":"2025-06-19T03:02:09","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/196044\/"},"modified":"2025-06-19T03:02:09","modified_gmt":"2025-06-19T03:02:09","slug":"godfather-of-eu-carbon-market-says-co2-offsets-deserve-second-chance-politico","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/196044\/","title":{"rendered":"Godfather of EU carbon market says CO2 offsets deserve second chance \u2013 POLITICO"},"content":{"rendered":"

\u201cMost of those credits came to Europe and were about to kill the ETS market,\u201d he added. \u201cIt dampened the prices, and so along with a market stability reserve, we designed a policy to close the door to all credits coming from the CDM.\u201d<\/p>\n

Yet times have changed, Delbeke insisted. A new global framework regulating credits under the Paris climate accord was finalized in November with the EU\u2019s support. But the bloc has also \u201clearned its lesson\u201d not to accept any and all projects included in an international system, and should instead set its own standards, he said.\u00a0<\/p>\n

Delbeke also said there are alternatives to allowing credits within the carbon market, such as using them to offset emissions the ETS doesn\u2019t cover: \u201cIntegrating them into the ETS is one option, but there are also other options.\u201d\u00a0<\/p>\n

\"\"EU Climate Commissioner Wopke Hoekstra is expected to unveil a 2040 climate target on July 2. | Oliver Hoslet\/EPA<\/p>\n

The idea of using credits to meet part of the EU\u2019s 2040 target has drawn fierce criticism from green NGOs and the bloc\u2019s own scientific advisory board on climate change, which warned that foreign credits risk undermining climate efforts and threaten the ETS price.\u00a0<\/p>\n

The European Parliament\u2019s in-house think tank also warned<\/a> on Thursday that \u201cif international credits were readmitted, these concerns would remain today.\u201d\u00a0<\/p>\n

But Delbeke thinks the EU needs to be more flexible about how it can reach its targets amid economic difficulties, global trade tensions, the war in <\/strong>Ukraine and Donald Trump\u2019s return to the White House.\u00a0<\/p>\n

\u201cIf we are grown up in the discussion on carbon credits, being very restrictive on the quantity, very restrictive on the quality, it helps us to realize the targets that we are setting for ourselves in a world that is completely different from when we adopted the targets,\u201d he said.\u00a0<\/p>\n

\u201cThe [EU\u2019s] climate law was before the invasion of Ukraine, before we had Mr. Trump in office and before his tariff war. We now want more industry in Europe, we want more on defense, that\u2019s going to increase emissions,\u201d he added. \u201cSo the world is looking very different today and I think the targets that were agreed then may turn out to be more expensive than anticipated at the time.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cMost of those credits came to Europe and were about to kill the ETS market,\u201d he added. \u201cIt…\n","protected":false},"author":2,"featured_media":196045,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5174],"tags":[64437,2311,18037,50712,5398,18039,2000,299,5187,806,856],"class_list":{"0":"post-196044","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eu","8":"tag-2040-climate-target","9":"tag-climate-change","10":"tag-climate-law","11":"tag-co2","12":"tag-emissions","13":"tag-emissions-trading-system","14":"tag-eu","15":"tag-europe","16":"tag-european","17":"tag-industry","18":"tag-pollution"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114707807861302010","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/196044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=196044"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/196044\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/196045"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=196044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=196044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=196044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}