Such credits will allow the EU to pay for emissions-slashing projects in other, usually poorer countries, and count the resulting greenhouse gas reductions toward its own 2040 target, rather than the climate goals of the country hosting the project. The draft proposal envisages using them only in the second half of the decade.<\/p>\n
\u201cStarting from 2036, a possible limited contribution towards the 2040 target of high-quality international credits under Article 6 of the Paris Agreement\u201d \u2014\u00a0global rules governing carbon credits \u2014 \u201cof no more than 3% of 1990 EU net emissions,\u201d the draft states.<\/p>\n
The Commission aims to propose legislation regulating such credits at an unspecified date, the draft adds. \u201cTheir specific role and deployment would need to be based on a thorough impact assessment and subject to the development of Union law setting robust and high integrity criteria and standards, and conditions on origin, timing and use of such credits.\u201d<\/p>\n
Critics, including the bloc\u2019s scientific advisers, warn that relying even just in part on international credits risks slowing the EU\u2019s climate efforts at home. The EU\u2019s existing 2030 and 2050 targets must be met solely through domestic measures.<\/p>\n
But the proposal specifically excludes the possibility of integrating credits in the EU\u2019s carbon market, an option that some experts feared could tank the bloc\u2019s CO2 price, which is meant to incentivize companies to reduce their emissions.<\/p>\n
\u201cThese international credits should not play a role for compliance in the EU carbon market,\u201d the draft reads.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Such credits will allow the EU to pay for emissions-slashing projects in other, usually poorer countries, and count…\n","protected":false},"author":3,"featured_media":26487,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[23194,23195,23196,23197,8295,23198,746,23199,6335,159,67,132,68],"class_list":{"0":"post-26486","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-environment","8":"tag-2040-climate-target","9":"tag-carbon-removals","10":"tag-climate-law","11":"tag-co2","12":"tag-competitiveness","13":"tag-emissions","14":"tag-environment","15":"tag-european-climate-law","16":"tag-exclusive","17":"tag-science","18":"tag-united-states","19":"tag-unitedstates","20":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114770985807686325","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/26486","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=26486"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/26486\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/26487"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=26486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=26486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=26486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}