Brussels, 26 February 2013. Today, the European Parliament’s Environment Committee voted in support of the EU Commission’s “Stop-the-Clock” proposal which derogates flights to and from Europe from the EU Emissions Trading Scheme (EU ETS) for one year to give enough time to negotiate a global agreement for addressing emissions from international aviation by autumn 2013.
In the same vote the Committee has rejected a proposal related to the offset limit. This proposal would have allowed intra-European flights to offset nearly 100% of their reduction obligations, while adding about 20 million international credits into the EU ETS.
“We strongly commend the Committee for rejecting the proposal as it would have done nothing to save the climate and only invite more artificial industrial gas carbon credits into the EU ETS. This in turn would have further flooded an already heavily over-supplied ETS” said Carbon Market Watch Director Eva Filzmoser. “We now look forward to a global deal by ICAO, with strong quality provisions for international offsets”.
International credits are responsible for two-thirds of the current EU ETS oversupply. The use of offsets has recently been criticised in lacking environmental integrity and further undermining the EU ETS. In response to these concerns, the EU has implemented a ban of industrial gas offset credits (from HFC-23 and N2O adipic acid projects) which will come into force in May 2013.
Contact:Eva Filzmoser Director Phone: +32 499 21 20 81 E-mail: email@example.com