Discover the latest climate news and insights! Check out Perspectives Climate Group's newsletter to stay up-to-date on the latest in climate action.

Quarterly Newsletter

This quarter, Perspectives shares recent announcements concerning new publications, events, and more!

New study by Perspectives Climate Research proposes reforms to align the Italian Export-Import Bank (SACE) with the Paris Agreement?January 2023?

The study – the 6th in a series of case studies on Export Credit Agencies (ECAs) – demonstrates that SACE needs to speed up its efforts to align its activities with the Paris Agreement’s 1.5°C limit. In fact, SACE provides the largest support to fossil fuels value chains among the Export Finance for Future (E3F) members, with investments reaching more than 4 times the volume provided to renewables (over the period 2015-2020).

Not only is SACE’s portfolio heavily exposed to the oil and gas sector, the ECA still lacks an ambitious policy on fossil fuel exclusions. The first results of the case study have been presented at the Italian Pavilion at COP27 in Egypt where Perspective’s expert Igor Shishlov highlighted the need for SACE to redirect financial flows, adopt more ambitious policies and increase transparency.

Call for Balance regarding Research and Assessment of Solar Radiation Modification

An independent group of academics, including our colleague Matthias Honegger, launched a call for balance regarding research on solar radiation modification and assessment of its potential implications in February. The letter has to date been signed by over 120 academics.

Solar radiation modification describes a set of hypothetical techniques that would limit warming and climate impacts by reflecting a fraction of sunlight, yet also introduces environmental, social, and political risks. Presently its use must be prevented as science and policy lacks knowledge and deliberation opportunities to examine its benefits and risks.

Growing climate impacts may, however, later this century force decision-makers to grapple with the topic in one way or another. The call encourages a balanced approach –?engaging across continents and disciplines –?to exploring climate and SRM risks and values, deliberating and foundation-building for robust, accountable, and justifiable policy choices in the future.

For more information: click here

FINAL ARTICLE 6 TOOLS OF THE INTERNATIONAL INITIATIVE FOR DEVELOPMENT OF ARTICLE 6 METHODOLOGY TOOLS (II-AMT) NOW AVAILABLE

The II-AMT is an international expert-led process to enable the alignment of approved Clean Development Mechanism (CDM) or voluntary carbon market (VCM) baseline and monitoring methodologies with rules and principles for collaboration under Article 6 of the Paris Agreement. Experts from all continents have brought different perspectives from their knowledge of climate policies and practices in key regions combined with long-standing expertise in methodologies.

Partners: Atmosphere Alternative, Carbon Limits, Institute for Global Environmental Strategies, Munnings Consulting, Perspectives Climate Research, Stockholm Environment Institute

Four outputs have been developed by the expert team:

1.?????TOOL01: Tool for the Demonstration and Assessment of Additionality: read here

2.?????TOOL02: Tool for Robust Baseline Setting: read here

3.?????TOOL03: Tool for Monitoring, Reporting, and Verification (MRV) of emissions, reductions and removals: read here

4.?????GUIDE01: Guidance for Evaluating Mitigation Activities’ Links to the Host Country NDC and LT-LEDS: read here

Why are these tools important?

The new Article 6 requirements for carbon market cooperation, specifically the Article 6.4 requirements, can address many of the existing issues of carbon markets if operationalised in a robust manner. The II-AMT was launched to develop a pragmatic but robust approach for adjusting and building on existing methodologies and transitioning them to the new Article 6.4 mechanism instead of developing them “from scratch”, thus saving significant financial and human resources. These methodologies can then also be used as a high integrity approach under Article 6.2 or in the voluntary carbon market. The initiative thus aims to contribute to the rapid and robust operationalisation of Article 6 requirements.

The tool development phase of the II-AMT was running in parallel to the meetings of the Article 6.4 Supervisory Body (SB). The first meetings of the SB revealed that developing recommendations on the application of Article 6.4 methodology requirements will not be a simple undertaking and would require dedicated public input. It is critical for relevant actors in the methodology community to support the SB in its work to operationalise Article 6.4 requirements and revise CDM methodologies. The II-AMT has supported and will continue to support this process.

A big thank you to our funders who supported the initiative: Japan’s Ministry of the Environment, UK’s Department for Energy Security and Net Zero, Swedish Energy Agency and to all stakeholders who participated in the public consultation running from November 2022 to January 2023.

For more information, please visit the II-AMT website

Research and Innovation for Climate Neutrality: Informing the EU′s long-term Research Agenda

Together with our partners ICF S.A., Fraunhofer ISI, the Cleantech Group and Cambridge Econometrics, Perspectives advises the EU Commission’s Directorate-General for Research and Innovation on the long-term research and innovation agenda towards 2050 climate neutrality. In our study, we identify key innovation spaces and pathways for breakthrough innovations.

Perspectives contribute to the study with a focus on Carbon Dioxide Removal (CDR) methods. Through literature screening, consulting with experts in the field and systematic assessment, we explore promising technological and societal innovations for their potential to accelerate our transition to a net-zero economy.

New Report on Urban Market Approaches under Article 6

Perspectives Climate Research is proud to present the new publication, "Urban market approaches under Article 6 of the Paris Agreement Recommendations for practical implementation," co-authored by Sonja Butzengeiger, Erin Danford, and Ruth Kassaye, from Perspectives Climate Research, along with Sarah Catto and Tarryn Quayle from ICLEI Africa in Cape Town. This report was published on behalf of the Umweltbundesamt - German Environment Agency .

The report offers a comprehensive analysis of the potential of Article 6 of the Paris Agreement in the urban context, with a particular focus on Addis Ababa (Ethiopia) and Kampala (Uganda). It presents a meticulous analysis of the emissions profiles of both cities and identifies the existing and planned urban activities that have the potential for effective use under Article 6. A key output of the report is identifying Art. 6 pilots in the cities. The most promising candidates identified are e-mobility both in Addis (electric taxis) and Kampala (electric bus rapid transport system) and electrification of cooking in Kampala. Clean cooling in hospitals was another option analysed for Addis.

The report offers a valuable framework for the practical implementation of urban market approaches that can help these cities meet their emissions reduction targets. It presents viable structures for the effective implementation of emission reduction measures, taking into account the ongoing and planned efforts in these cities. Furthermore, the report identifies key urban stakeholders and presents two case studies that offer four potential concepts that could be further developed into Article 6 activities.

Brussels carbon farming workshop on voluntary market

On February 7, 2023, Axel Michaelowa held the keynote input on voluntary carbon markets at a workshop on carbon farming held by three Green Party Members of the European Parliament in Brussels. Axel exchanged with EU Commission representative Holzleitner on aspects of the Carbon Removal Mechanism guideline.

Saudi domestic voluntary carbon market methodology workshop

On March 5 and 6, 2023, Axel Michaelowa animated a workshop on five baseline and monitoring methodologies developed for the Saudi domestic voluntary carbon market in Riyadh. The workshop held at the headquarters of the Saudi Designated National Authority was an opportunity for the DNA staff to understand the nitty-gritty of the baseline and monitoring methodologies developed by Perspectives.

New report: assessing the robustness of carbon market grievance mechanisms and recommendations for the establishment of an article 6.4 grievance mechanism

Perspectives Climate Research’s latest report, commissioned by Carbon Market Watch, assesses the robustness of Carbon Market Grievance Mechanisms and provides recommendations for the establishment of an Article 6.4 Grievance Mechanism.

Carbon markets grievance mechanisms can operate as early warning systems to avoid the escalation of concerns into more serious disputes and human rights abuses. Our study?showcases that current voluntary carbon market standards have ineffective grievance mechanisms, with?Gold Standard grievance mechanism being the current frontrunner among voluntary carbon market standards.

In addition, to map out the best carbon market grievance mechanisms practices, our study provides detailed recommendations for the design of the Article 6.4 grievance mechanism.

Access here to read the full assessment?of carbon market grievance mechanisms.

Interested in learning more? Find more updates on our website !