In this edition, day-two thought pieces on next steps for the European carbon market, including from Time and The Economist. In the corporate space, Walmart targets 600 per cent increase in renewable energy use by 2020, reports Business Green. And, The Wall Street Journal reports Canada Welcomes More China Energy Investment.

Quote of the Day:

“This would be a foolish time for the EU to back away from cap-and-trade because the rest of the world is starting to follow. The climate and energy directorates in Brussels need to work together going forward to ensure they’re interacting benignly instead of in perverse ways.”

–Robert Stavins, director of Harvard’s Environmental Economics Program, in Bloomberg’s “Harvard Don Tells EU Kill Grants to Save Carbon: Energy Markets”


Lead Stories

Harvard Don Tells EU Kill Grants to Save Carbon
Europe may have to change course to save the world’s biggest carbon market after an unprecedented plunge in pollution-permit prices, according to a pioneer of so- called cap-and-trade systems designed to help the environment.

Carbon trading: Below junk status
The Economist
EUROPE’S flagship environmental policy has just been holed below the water line. On April 16th the European Parliament voted by 334 to 315 to reject proposals which (its supporters claimed) were needed to save the emissions-trading system (ETS) from collapse. Carbon prices promptly fell 40% (see chart). Some environmentalists fear that the whole edifice of European climate policy could start to crumble.

If Carbon Markets Can’t Work in Europe, Can They Work Anywhere?
America may be a bit of a mess when it comes to climate policy—though that mess has been surprisingly effective in reducing carbon emissions in recent years—but environmentalists could always look across the Atlantic Ocean to Europe, where greens are green, cars are small and global warming actually matters.

Carbon price collapse could hit Australian budget
The Sydney Morning Herald
The price of carbon in the European emissions trading market – the world-leading scheme that will link with the Australian scheme in 2015 – has collapsed after a key vote to shore up the scheme failed overnight.

World energy getting dirtier, IEA may under-estimate: Wynn
Global carbon emissions per unit of energy supply have barely changed in more than two decades, the International Energy Agency said on Wednesday, but other data show an even starker picture where world energy is getting dirtier.
**RKB — Column follows up early-week coverage of IEA’s findings.

E.ON trading unit to seek U.S., Asia growth
German utility E.ON SE will seek more energy trading opportunities out of the United States and Asia from its soon-to-be created Merchant Trading unit, aiming for growth in an increasingly globalised sector.

3 ways to unlock climate finance
Ministers and senior officials from developed countries gathered recently in Washington, D.C., to tackle one of the world’s foremost challenges: how to mobilize private sector capital to reduce greenhouse gas (GHG) emissions in developing countries and help them adapt to climate change’s impacts. The meeting, organized by the U.S. State Department, comes on the heels of another meeting of climate finance experts and researchers in Paris, organized by the Organization for Economic Cooperation and Development (OECD).

India questions U.S. green energy incentives at WTO
India hit back at U.S. accusations of trade restrictions in its solar industry on Wednesday, suggesting Washington was guilty of the banned practices, in a move that may deepen divides between giants of the developing and developed world.

Walmart targets 600 per cent increase in renewable energy use by 2020
Business Green
Walmart has this week kicked off a new phase in its global sustainability efforts, announcing targets to drastically increase its use of renewable energy and improve energy efficiency across its stores and offices.


Navigating the American Carbon World (NACW) 2013
San Francisco April 16-18


Carbon offset companies face uncertain future
ABC News
The fall in Europe’s carbon price has further dented the confidence of Australian companies working to either offset or reduce the country’s emissions.

Costa Rica Gives SCS Global Services Go-Ahead to Verify Carbon Footprints and Carbon Neutrality under Ambitious Carbon Neutrality Initiative
Press Release
SCS Global Services (SCS) has earned accreditation from the Costa Rican government as a carbon footprint verification body under its ambitious new climate policy, which aims to make Costa Rica the first carbon neutral country. SCS will verify the measurement of private and public sector entities’ carbon footprints to help the government evaluate policies for emissions reduction.

Natural Gas/Coal/Alternative Fuels

Canada Welcomes More China Energy Investment
The Wall Street Journal
Canada is open to future acquisitions by Chinese energy companies, its trade minister said, in a clear signal Ottawa wants deeper ties with Beijing despite controversy over Cnooc Ltd.’s 0883.HK 0.00% recent acquisition of Canada’s Nexen Inc.

Oil-and-gas lobby talks biofuel rule with White House, EPA, senior lawmakers
The Hill’s E2 Wire
The head of a powerful oil industry lobbying group met with top White House officials and senior lawmakers Wednesday about stripping a federal biofuel rule.

House GOP: Obama regs slowing oil-and-gas development
The Hill’s E2 Wire
House Republicans and state regulators on Wednesday aimed their fire at Obama administration rules on energy production, arguing they were hampering oil and gas development.


MEMC, Petrobras Planning 1.1-Megawatt Solar Plant in Brazil
MEMC Electronic Materials Inc. (WFR), the second-biggest U.S. supplier of polysilicon, is planning a solar farm that will be tied for the largest in Brazil with the country’s state-controlled oil company Petroleo Brasileiro SA. (PETR4).

China’s LDK Solar Defaults on Bond Payment
The Wall Street Journal
A second Chinese solar company has defaulted on a debt payment to investors, adding to the challenge Beijing faces in fixing its solar industry.

World to get fewer new wind turbines in 2013 -industry group
The world will see a sharp drop in the number of new wind turbines installed this year after record growth in 2012, a report by the Global Wind Energy Council (GWEC) said.

Theolia wind farm operator breaks with turbulent past
Once worth a billion euros, now less than 100 million, French wind farm operator Theolia still pays for the excesses of the pre-crisis renewable energy boom as it reinvents itself as a green power generator.


Clearing the Air: Reducing Upstream Greenhouse Gas Emissions from U.S. Natural Gas Systems (Posted April 8, 2013)
World Resources Institute

The State of Green Business 2013 (Posted February 12, 2013)

Can the US Get There from Here? (Posted February 6, 2013)

The Billion Euro Aviation Bonanza – Aviation’s Participation in the EU ETS (Posted January 22, 2013)

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