If the EU “Renovation Wave” for buildings fails, the massive ramp up of clean electrification required to compensate will come into direct conflict with EU ETS pricing formulas, say Sebastian Osorio and Michael Pahle at the Potsdam Institute for Climate Impact Research and Oliver Ruhnau at the Hertie School in Berlin. If the cap in the original ETS is too tight relative to the Effort Sharing Regulation (ESR) targets, its carbon prices may rise … [Read more...]
Land Use and Forestry: existing LULUCF rules allow EU’s carbon sink to decrease. Change them
The EU’s current Regulations for Land Use, Land Use Change and Forestry (LULUCF) allow the region’s carbon sink to decrease, explains Ulriikka Aarnio at CAN Europe. It’s due to exclusions and a lack of transparency and proper accounting for emissions. As a result, the EU’s carbon sink has already decreased significantly in the last few years, extracting only 265 Mt of CO2 in 2019. Different activities both emit and absorb carbon. 2019 saw 135 Mt … [Read more...]
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