Sandbag are doing amazing work pushing to create a clean renewable based future for us all. They focus where they can do most, on the carbon trading market – The EU emissions Trading Scheme (ETS), the only large scale policy yet implemented to cut carbon emissions. The simple idea is to destroy excess trading permits. To give you some idea how big the problem is click on this image of the live counter to get the latest reading:
Sandbag’s latest report Slaying the Dragon: Vanquish the surplus and rescue the Emissions Trading Scheme reveals how hundreds of millions of excess carbon allowances continue to be issued, with a disproportionate share of these being awarded for free to Europe’s “Carbon Fatcat” companies which are shifting from being steel to cement companies. What is the environmental outlook for the ETS?
You can download the report by clicking on the image:
More news from Sandbag
As the latest emissions figures came out, showing the EU has all but met its 2020 target to cut emissions by 20%, Sandbag released projections showing that by 2020 EU emissions could be down by 29% on current trends. They’re using this research to call for a higher 2020 target, and were pleased when sharing a platform with a senior DG Energy official to hear them already talking about potential increases to the 2020 target. As emissions are likely to be very low this year the pressure to move this target is only going to grow, internationally and at home.
MSR knight small As coal prices seem to plunge ever lower we are now engaged helping NGOs EU wide to develop coal phase out plans with a big focus on Germany, the UK and Poland. They’ve helped Greenpeace with some research, looking at loopholes in the ETS that have subsidised coal power plants and in the UK they’ve been analysing the effect of the capacity market which looks set to keep old plant going longer than necessary or sensible.
Buy carbon permits here at £6.47 to take them out of the system.
c/o Bryony (in Brussels), Damien (in Australia), Alex (in China), Dave (in Brussels), and Phil, Laurence and Tricia (in London) – Illustrations by the marvellous Kerry Hyndman – About Sandbag.