Perspectives Autumn Newsletter
Perspectives Climate Group
With 25 years' experience in developing climate solutions, we drive climate action,?research and leading?ambitions
This quarter, Perspectives shares exciting announcements, new publications, successful events, and critical insight into carbon markets and climate action.
CCQH – Helping you to understand the complex world of carbon credit markets
We are pleased to announce the release of the first edition of our Carbon Credits Quarterly Highlights (CCQH). These are momentous times for carbon credit markets, with a lot happening on many fronts, all around the world. Through the CCQH, our experts help you to stay informed about critical developments that are shaping these markets and, most importantly, to understand their implications for environmental integrity and your business. In each issue, we cover international negotiations on Article 6 of the Paris Agreement, key initiatives, policies, and partnerships around the world. We also take a deeper dive into two topics chosen by our Editor-in-Chief, Hanna-Mari Ahonen . The next edition will focus on COP28 and will be accessible via subscription in December 2023.
We are happy to share a sneak peek of our first issue in an introductory call and explain how you can subscribe to this new product by Perspectives Climate Group. For more information, please contact Lena Gründel , [email protected], or read more on this topic HERE .
New Report - High-level assessment and comparison of carbon credit rating agencies
The lack of a universally accepted and in-depth definition of carbon credit quality is a fundamental issue for the carbon market, as market actors increasingly treat carbon credits with caution. Carbon credit rating agencies aim to address this lack of standardisation by distinguishing between robust carbon credits and those not delivering on their promises. The agencies claim to increase transparency, mitigate risk, and enable fair pricing. In our latest report prepared by Ingrid Wawrzynowicz , Matthias Krey , and Ximena Samaniego Figueroa , developed in collaboration with our friends at CMW, we dive into the approaches of four carbon credit rating agencies to discover key similarities and differences. Based on this, our report provides recommendations on the way forward to more transparency and integrity for carbon credit ratings.
Max Schmidt presents Perspectives’ upcoming first study on Loss and Damage
In mid-August, Perspectives’ Climate Finance Expert Max Schmidt gave a presentation on promising instruments to raise finance for Losses and Damages (L&D) from climate change to experts from the UNFCCC constituency of Research and Independent Non-governmental Organizations (RINGO). Perspectives’ experts regularly follow climate negotiations as RINGO members, and Perspectives’ Senior Founding Partner Axel Michaelowa has been a member of RINGO’s steering committee for several years. Perspectives has a long-standing expertise on climate finance, but the study is part of its first-ever project on L&Ds – the new, third pillar of climate policy – and will be published here shortly.
Leading scholars and activists discuss the accounting of military emissions
In early August Perspective's Senior Founding Partner Axel Michaelowa participated in a ten-day retreat at the Blue Mountain Lake Center in the Adirondacks mountains, US. The retreat brought together a select group of researchers, journalists, and activists working on the military and its greenhouse gas emissions. Axel had been invited by the “Costs of War” project of Brown University due to his work of accounting military and conflict-related emissions under the UNFCCC.
Impact of the EU's Carbon Border Adjustment Mechanism (CBAM) on Vietnamese exports
On August 30th in Hanoi, the Southeast Asia Energy Transition Partnership Program (ETP) alongside the Department of Climate Change (Ministry of Natural Resources and Environment) convened a significant consultation workshop regarding carbon tax proposals aimed at mitigating the influence of the EU's CBAM on Vietnamese goods. Axel Michaelowa provided key input as team leader of the project on international experiences with carbon taxation and lessons for Vietnam. He stressed the need for the Ministry of Natural Resources and Environment and the Ministry of Finance to collaborate on the design and implementation of carbon pricing, and to use ongoing policy processes to accelerate the introduction of a carbon tax.
First Swedish conference on Article 6 explores opportunities and challenges of market-based cooperation ?
Perspectives participated in the first Swedish forum on Article 6, organised by the Swedish Energy Agency on September 4 in Stockholm. The event gathered over 100 participants from business, academia, civil society, and government to discuss opportunities and challenges of market-based cooperation under the Paris Agreement. At a session on a research project on using Article 6 to promote bioenergy with carbon capture and storage (BECCS) in Nordic countries, carbon market advisory expert Hanna-Mari Ahonen from Perspectives presented the institutional requirements for participating in Article 6 cooperation. Hanna-Mari also moderated a panel discussion where private sector experts shared insights and recommendations on why and how to engage in Article 6 cooperation.
The discussion on carbon markets continues in Taiwan
On August 23, 2023,?Axel Michaelowa , met in Taipei with Taiwan’s minister of science and technology, Tsung-Tsong Wu, and economic and political science researchers from various universities. He discussed open research questions in the context of international carbon markets and carbon dioxide removal. Axel had been invited by Prof. Chien-Ming Lee of National Taipei University to lecture at the TAERE Summer School “Net Zero Challenge and Climate Change Solution” as well as the?“Carbon Trading and Race to Zero International Forum”
Discussion on trading carbon credits in Taiwan
On August 25, 2023, Axel Michaelowa ?met with the chairman of Taiwan Stock Exchange, Sherman Lin, in Taipei. Mr. Lin serves as chairman of the Taiwan Carbon Solution Exchange inaugurated on Aug. 7, 2023. Axel discussed how to specify contracts for trading carbon credits on an exchange maximizing liquidity while bolstering the reputation of the exchange regarding quality of the credits. He cautioned not to trade contracts for credits with doubtful quality.?He also stressed the relevance of international carbon markets for Taiwan and the Taiwan Carbon Exchange.
Max Schmidt on why the Panama Canal drought is a dire warning
If one of the wettest countries on earth has an unprecedented drought , one should listen carefully. If this country also happens to connect the Atlantic and the Pacific, one should turn up the volume: Normally, 6% of world maritime trade passes through the world-famous Panama Canal, but in August severe restrictions were imposed on daily traffic and vessel weights, resulting in the “world’s worst traffic jam ”.?
In July 2023, Perspectives’ Climate Finance Expert Max Schmidt observed how unprepared the Panama Canal seems to be for a climate-changing future. So far, only some of the freshwater from the artificial Lake Gatun – created for trans-oceanic travel –? is usually recovered, which also serves as a source of water for Panama City . Droughts normally occur every five years in the region, sometimes worsened by the El Ni?o phenomenon which in 2023 contributed to July being the world’s hottest ever month . All kinds of goods are shipped through the canal, from motor vehicles to grains and gas, mostly between the US and East Asia .
Max recommends that “all maritime choke points and ports of global importance should be undergoing rigid assessments on how ‘climate-ready’ they are, to avoid further trade disruptions and price inflation. Besides, the world urgently needs a shipping tax , to tackle the shipping sector’s huge greenhouse gas emissions. Most of the revenues should be used for decarbonising shipping and climate adaptation, but some of it could pay for climate-related losses and damages in developing and middle-income countries like Panama.” In fact, Panama is just seeing one of the largest migrations due to climate change in modern history: 1,000 members of the Guna Yala culture on Crab Island have to be moved due to rising sea levels, after centuries of living on the island off the coast of Panama.
Why private companies should buy Adaptation Benefits
At an event at the “Activation Hub” of the African Climate Week in Nairobi on September 8, Axel Michaelowa , vice chair of the methodology panel of the Adaptation Benefits Mechanism, provided a vision of how government-defined adaptation targets for private companies could drive investment into Adaptation Benefits in the future. The current work of the Adaptation Benefits Mechanism on methodologies for assessing Adaptation Benefits in a robust manner serves as a basis for such involvement of the private sector in adaptation.
Enlightening Indian industry on the state of international carbon markets
On September 14, Axel Michaelowa gave the keynote speech on international carbon markets at the 14th Carbon Conclave of the Indian Federation of Chambers of Commerce and Industry in New Delhi. Axel stressed the interplay between compliance and voluntary markets and the risk that unscrupulous “carbon cowboys” destroy the international carbon markets. He provided recommendations regarding the characteristics of good carbon credits and urged Indian players to aim at the high end of the market.
领英推荐
Upcoming Event: CDR Dialogue 2023 (Oct 10-12)?– Actor perspectives on “Carbon Dioxide Removal”: bringing CDR higher up the societal, educational, and political agenda
CO? removal is becoming more topical and urgent than ever before. To ensure that Carbon Dioxide Removal (CDR) technologies are realized and scaled in an environmentally and socially responsible way, there is a crucial need to ensure scientific knowledge is relayed to stakeholders and decision makers in the right way.
In the upcoming “CDR Dialogue 2023” taking place October 10 – 12 at the Deutsches Museum in Munich, stakeholders from science, business, politics, and education will gather to 1) learn how the complex and controversial topic of CDR can be integrated into the classroom, and 2) understand the possible CDR pathways for Germany from the perspectives of different actors.
Find more information on the education conference and workshops here .
To see the CDR Dialogue 2023 programme (in German) click here .
Igor Shishlov featured in the One Earth journal?
Perspectives’ Head of Climate Finance, Igor Shishlov , penned a comment on "Making export finance fit for the Paris Agreement " for the newest issue of the academic journal One Earth. He highlighted that continued official export finance support for fossil fuels remains a major barrier in the global transition towards clean and sustainable energy sources. In fact, export credit agencies (ECAs) are the single largest group of public finance institutions supporting fossil fuel investments. Other international experts also provided comments on additional aspects related to “Ratcheting up effectiveness to improve the Global Stocktake process .”
Igor Shishlov interviewed by Global Trade Review
For the second time, Igor Shishlov , was interviewed by Global Trade Review on the role of the US export credit agency EXIM in supporting fossil fuel projects. Referring to a planned new gas project in Papua New Guinea that risks leaving USD 13 billion stranded, Igor stresses that “[s]upporting new fossil fuel infrastructure investments through public finance institutions such as ECAs is not compatible with the letter and the spirit of the Paris Agreement.” As part of its series of nine case studies, Perspectives previously found EXIM to be unaligned with the Paris Agreement .
Which CDM projects generate acceptable offsets for the UN?
In a recently published investigative article by The New Humanitarian, Axel Michaelowa , was quoted regarding the UN’s claims of climate neutrality using credits from the Clean Development Mechanism.?After diving deeply into the origins of the projects the UN was buying credits from,?the reporters found noted problems with the underlying projects, especially regarding additionality. “The approach of a sensible [organisation] should be to check – what type of credits am I buying?” Axel stated while also pointing out that the UN only acquired a small number of credits from hundreds of projects rather than purchasing selectively from high-quality projects. This indicates that the UN offsetting purchasing scheme was not selective. This indicates that the UN offsetting purchasing scheme was not selective. To learn more, read the full article here: The New Humanitarian | Why the UN is not climate neutral
Igor Shishlov teaches Climate Change Economics and Policy at HEC Paris
For the third time, Igor Shishlov , taught at the ‘Business and Climate Change ’ summer school at HEC Paris, a leading European business school. Over the course of three days, students from all over the world profited from Igor’s expertise on topics ranging from climate negotiations and international climate finance to market and non-market climate policy and climate risks. Since 2016, Igor has been involved in academic activities at HEC Paris, where he currently serves as the Executive Director for HEC’s?Climate & Business Certificate, bridging the worlds of climate policy and business.
Perspective's colleagues partake in global climate strike
Perspectives consistently aims to set an example as a socially and environmentally responsible company. Therefore, for the last three years, to encourage participation in global climate strikes, management has allowed Perspectives colleagues to add the strikes to their work agendas. On the weekend of September 15, 2023, hundreds of thousands of people demonstrated in over 50 countries demanding the end of fossil fuels and stronger climate legislation. Perspectives colleagues marched alongside thousands in Germany and Scotland.
Join our team at Perspectives Climate Group - exciting opportunities await!
We are thrilled to announce that Perspectives Climate Group (PCG) is expanding its team and looking for exceptional individuals to join us in making a positive impact on the climate sector. We currently have three different senior positions available, and invite you to be part of our passionate and dedicated team.
Working at PCG is an extraordinary experience, filled with opportunities for growth and fulfillment. Here are some reasons why joining our team is a remarkable choice:
1. Embrace Flexibility: We understand the importance of a healthy work-life balance. At PCG, we offer a high degree of flexibility, empowering you to manage your time effectively.
2. Nurture Growth: We believe in the power of continuous learning and development. PCG provides ample training and development opportunities, including workshops, mentoring programs, and access to the latest resources. You'll have the chance to enhance your skills and stay ahead in the ever-evolving climate sector.
3. Work from Anywhere: Our connected world allows us to work together, no matter where we are physically located. Embracing remote work, PCG enables you to work from anywhere, collaborating with our diverse team spread across different regions. Join us and become part of a global network of climate policy experts.
4. Encourage Self-Expression: At PCG, we value your unique perspectives, ideas, and interests. We foster an environment where you can freely express yourself and follow your passions within climate action. We believe that by embracing individuality, we can collectively achieve greatness.
If you or someone you know is eager to make a difference in the climate sector, we invite you to explore the job postings below and share them within your communities:
Join us at PCG and be part of an inspiring team committed to creating a sustainable future.
Thank you for your continuous support and engagement. Together, we can make a meaningful impact on our planet.
Warmest regards,
The Perspectives Climate Group Team
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