The CCLP EU Case Studies Project

The Carbon Capture Legal Programme launched the 'EU Case Studies Project' in January 2010. The project analyses the implementation of Directive 2009/31/EC on the geological storage of carbon dioxide (‘CCS Directive’) in selected European jurisdictions - the United Kingdom, Germany, Poland, Romania, Spain and Norway. Each jurisdiction, for distinct reasons, provides an example of different approaches to the transposition and to CCS in general.

UK Carbon Trust Fund: A Public-Private Partnership for Eco-Innovation in Better Policies to Support Eco-Innovation, Organisation for Economic Co-Operation and Development (OECD) 2011.

The agreements recently struck during the COP 17 global climate change negotiations in Durban, South Africa, from November 29th to December 9th, bring us to a new crossroads.

The outcome of Durban will influence whether the initial Cartesian vision of a global carbon market and one single price for carbon, which emerged from the Kyoto Protocol but was never accomplished, is to receive a new impetus, or whether we are heading towards a long period of building through a bottom-up approach, which may or may not lead to a unitary carbon market in the future.

The World Bank has decades of experience supporting countries where coal mines and power plants are closing, wherever they are in the transition process. This includes looking at the interdependencies between the decommissioning of coal assets—such as mining, transport, and power plants—and developing renewable energy programs to take their place. Since 1995, we have provided more than $3 billion to  support governments close coal mines and power plants and ensure a Just Transition that safeguards jobs and income in affected communities.

The recent launch of exchange-traded derivatives contracts in VCCs has galvanized focus on further developing VCC derivatives. Growth in the over-the-counter (OTC) derivatives market will be helped by greater overall familiarity with transactions in VCCs and related products.

The report includes a total of twelve recommendations relating to primary market functioning, transparency and predictability of primary market decisions; market structures for primary markets, covering allowance allocation mechanisms, market stability mechanisms and primary market access; and secondary market functioning, with particular focus on market integrity, transparency and structure.

Highlights:

The transactions saw SCOA purchasing the first batch of carbon credits tokenized on the Chia blockchain, demonstrating the successful implementation of the Fund’s concept and vision, utilizing the Climate Action Data Trust (“CAD Trust”), a part of the World Bank’s effort through the Climate Warehouse to create an end-to-end digital carbon market infrastructure to increase transparency and quality of carbon credits.

This year’s report includes insights from an analysis of the four major registries on the Voluntary Registry Offsets Database (VROD), the developing high-durability registries, and anonymized data from Carbon Direct’s in-depth diligence evaluations on hundreds of carbon removal projects. See Appendix for more information on our data sources and methodology.

About "All in on Climate" Report Data and Methodology