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CARBON EMISSIONS REDUCTION PROJECT (Sep/2024)

Instruments for Carbon Emissions reduction: a focus on Green Certificates and the Carbon Border Adjustment Mechanism


Mitigating climate change is one of the most pressing global challenges of our time. The increase in greenhouse gas (GHG) emissions, primarily from human activities such as burning fossil fuels, deforestation, and industrial processes, has led to significant warming of the Earth's atmosphere. This warming is already resulting in more frequent and severe weather events, rising sea levels, and disruptions to ecosystems and biodiversity. To prevent the worst impacts of climate change, there is the need to drastically reduce emissions and transition to a low-carbon economy.


Green certificates and the Carbon Border Adjustment Mechanism (CBAM) contribute to climate change mitigation in a dual way. Green certificates aim to encourage renewable energy production, while the CBAM aims to limit the leakage of GHG emissions from the European Union by imposing a cost.


The objective of this work is to analyse these tools and its relation with Guarantees of Origin and the European Emission Trading System. The combined analysis highlights strategic insights, potential benefits and challenges in aligning with the CBAM, as well as it enables to draw a future outlook on the implementation of policies towards carbon neutrality Europe.

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