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Rethinking Net-Zero - Do International Credits Help or Harm?
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On March 31st, EU Climate Commissioner Wopke Hoekstra floated various ideas for how Europe’s expected 90% emission reduction target for 2040 could be achieved.
One of them: letting EU countries purchase United Nations Article 6 credits to meet EU's 2040 climate target. Similar suggestions are currently being proposed by the upcoming German government.
This would require undoing a core principle of Europe’s Climate Law: only European reductions and removals shall count towards climate neutrality.
The backlash has been significant, especially in civil society and environmental groups.
But could this - with some modifications - actually provide a smart path for Europe?
Links:
- Eve Tamme: LinkedIn and Website
- Sebastian Manhart: LinkedIn and Website
- Politico article on Commissioner Hoekstra’s comments
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