Laughing all the way to the bank
A new report by Corporate Europe Observatory details how industry lobbied allies within DG Enterprise, to delay DG Clima's plans to ban dodgy offsets from the EU Emissions Trading System (ETS).
Industrial gas projects currently account for more than 80% of the credits bought by European polluters to offset carbon emissions under the EU ETS. But evidence suggests that many of them do not infact represent extra cuts in emissions.
A position statement, entitled "Time to scrap the ETS", has been produced to collectively take a stand against the EU-ETS. It aims to help create space for the end of the ETS to be seen as a feasible political option. More than 30 organisations, including Corporate Europe Observatory, have already supported the document. The signatories call on civil society organisations and movements to endorse it and to join the fight to abolish the ETS.
Corporate Europe Observatory
Corporate Europe Observatory (CEO) is a research and campaign group working to expose and challenge the privileged access and influence enjoyed by corporations and their lobby groups in EU policy making.