COP25: KEEP CARBON MARKETS OUT OF THE PARIS RULEBOOK!

To: Governments and negotiators, media and civil society

We, the undersigned, write to demand that carbon markets are kept out of the Paris Rulebook. We say NO to a resolution on carbon markets at COP25.

At our current rate of emissions globally, we are likely to exceed a 1.5 degree carbon budget before 2025. According to the science, we simply don’t have the atmospheric space for any more carbon, we must demand rich countries stop shirking their historical responsibilities and help drastically cut emissions at their source now. The current commitments made by Parties under the Paris Agreement already put us on course for a disastrous 3-5 degrees of warming.

International rules for carbon markets will be a key item on the negotiating table in Madrid, and under Article 6 we may see carbon markets becoming part of the Paris rulebook this year. This would lock us in to even more emissions, further temperature rise, continued fossil fuel use and decades of inaction, distraction, and corporate power-grabbing.

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