In this edition, a focus on California’s trial carbon market run and a look at commoditizing water plus more on U.S. policy as the GOP convention continues. Business Green has “Republicans vow to end ‘war on coal’, torch green regulations,” while The Hill brings us “Rep. Flores says energy deal possible even if President Obama is reelected” and
“Obama sets new energy efficiency goal.”

Quote of the Day:

“If something isn’t given a value, people tend to waste it. Water is our most useful resource but those using it often don’t even cover the costs of its infrastructure.”

Nestle CEO Paul Bulcke in Bloomberg’s “Water Should Be More Valued to Reflect Worth, Nestle Chief Says”

Lead Stories

California’s cap-and-trade program to cut emissions starts trial run
Mercury News
The eyes of the world are on California as it prepares to roll out the nation’s first comprehensive cap-and-trade program, a cornerstone of the state’s efforts to reduce greenhouse gas emissions and shift to an environmentally sustainable economy.

Water Should Be More Valued to Reflect Worth, Nestle Chief Says
Water should be more highly valued to reflect its worth and reduce its waste, said Paul Bulcke, chief executive officer at Nestle SA (NESN), the world’s biggest food company.

Food to Eat, Feed Animals Single Largest Use of Water, Film Says
Growing food to consume and to feed animals that people eat is the largest use of Earth’s fresh water supply yet almost a third of the world’s food is lost or wasted before it reaches consumers’ mouths, according to a short film launched at World Water Week in Stockholm.

ABC’s First CDM Project Marks Effects of Innovation in Green Credit Products
Power Engineering
Recently, Shandong Jinyuan Biomass Gasification Power Generation Project, to which Agricultural Bank of China Limited (ABC) provided consulting services, has been successfully registered in the Clean Development Mechanism (CDM) Executive Board of the United Nations. It is the 2105th project of China registered in the United Nations and the first successful CDM project with a large state-owned commercial bank as consulting agency marks that ABC has abilities of independently conducting “carbon finance” and providing green credit services.

COLUMN-Investing in longer, hotter summers
As the global climate increasingly provides the setting for a sweltering Tennessee Williams tragedy, the best way to invest for the future may be in two unglamorous industries: Natural gas and electric utilities.

Republicans vow to end ‘war on coal’, torch green regulations
Business Green
The extent to which the Republican Party plans to eviscerate US environmental protection rules and dramatically increase support for fossil fuel production was again laid bare this week, as the Platform document adopted at the GOP Convention reiterated the party’s opposition to the low-carbon economy.

Rep. Flores says energy deal possible even if President Obama is reelected
The Hill’s E2 Wire
Texas Rep. Bill Flores says momentum for a bipartisan agreement on energy policy will depend on gasoline prices.

Obama sets new energy efficiency goal
The Hill’s E2 Wire
With comprehensive energy efficiency legislation cooling on the congressional back burner, President Obama issued an executive order Thursday to spur energy efficiency upgrades at manufacturing facilities.

Op-Ed: What Will It Take?
The New York Times
Two years ago, at a Washington symposium observing the 40th anniversary of the Clean Air Act, much of the discussion centered around the use of the landmark pollution law to try to address a problem its authors never anticipated – climate change caused by increasing concentrations of carbon dioxide and other heat-trapping gases in the atmosphere.

Road builders: Higher emission rules will drain highway money
The Hill’s E2 Wire
The America Road and Transportation Builders Association (ARTBA) said Thursday that higher gas mileage requirements for cars enacted this week by the Obama administration will make less fuel tax money available to pay for construction projects.


GreenGov Symposium
ACCO & White House Council on Environmental Quality
September 24-25, 2012

Carbon Forum North America
October 1-2, 2012
Washington, DC

Sustainability Summit – Innovation Challenge
October 9, 2012
New York

EMA  2012 Fall Meeting
**Keynote speaker is Richard Sandor
October 24 – October 26, 2012
Santa Monica, CA


Trader warms to shift on carbon
The Australian
TIMING, they say, is everything in business and listed offsets company CO2 Group could hardly have done it better, after announcing the purchase of a pipeline of international carbon credits, just a day before the federal government revealed changes to its carbon pricing policy.       

Missing the points on carbon pricing
Climate Spectator
The decision to drop the carbon price floor, while at the same time place greater restrictions on the use of carbon credits from developing countries, can be quite baffling to some of my economist and financial trader colleagues and friends. Many of them don’t understand why environmentalists would be bothered by the level of the carbon price, provided the 2020 emission reduction target is achieved.

Australian Biodiverse Carbon Forests – A Shrewd Investment For Carbon Compliance
Press Release
Australian carbon offset pioneer, Greenfleet welcomes announcements to remove the floor price and link Australia’s emissions trading scheme with the EU ETS.

Natural Gas/Coal

Oil Chiefs Hope For High Prices Despite Shale ‘Revolution’
Wall Street Journal
Oil executives, scrambling to squeeze more resources from existing fields and find additional sources of petroleum, are banking on a continued run of high prices to fund future growth.

U.S. Approves an Initial Step in Oil Drilling Near Alaska
The New York Times
The Interior Department granted Shell permission on Thursday to begin preparatory work on its first well in the Arctic Ocean, moving the company a critical step forward on its tortuous quest to drill for oil off the coast of Alaska.

Global coal, gas markets to be balanced until 2013
Global coal and natural gas markets will be balanced or in slight surplus for the remainder of 2012 and in 2013 as weak demand is met by healthy supplies, although gas markets are expected to tighten in 2014, Barclays Capital said on Thursday.

At Gazprom, Views Conflict on Viability of Barents Sea Gas Project
The New York Times
Gazprom, the Russian energy company, has long presented the Shtokman field in the Barents Sea as the jewel in the crown of its natural gas reserves, a find that might hold enough gas to meet global demand for a year.

A Late Bet on Coal May Not Pay Off
The New York Times
The Prairie State Energy Campus, a vast new coal-fired power plant and mine that is now approaching completion in downstate Illinois is likely to be one of the last of its kind in this country, given that new Environmental Protection Agency regulations bar plants that put out as much carbon dioxide as conventional coal plants. The builders, a consortium of municipal utilities and co-ops across eight states from Missouri to West Virginia, rushed to get it up and running before greenhouse rules could stop it, convinced that coal would be cheaper for the next few decades than alternative sources, like gas or nuclear.

Pemex Finally Strikes Oil in Deep Waters
The New York Times
President Felipe Calderón of Mexico announced Wednesday that the national oil company, Pemex, had struck oil in deep water, its first success after years of exploration in the deeper reaches along the bottom of the Gulf of Mexico.


Merkel Seeks Solar Talks to Prevent China Dumping Case in Europe
German Chancellor Angela Merkel seeks talks involving the European Commission and Chinese authorities to prevent the opening of anti-dumping proceedings against Chinese solar-panel makers in Europe.

China’s fraud-hit Suntech strikes more trouble in Italy
An Italian court has filed criminal charges against an investment fund controlled by China’s Suntech Power Holdings, the world’s largest maker of solar panels, accusing it of illegally building solar farms to milk state subsidies.

Glimmer of hope for copper from Europe green energy target
Expected growth in Europe’s generation of renewable energy offers hope for copper demand, helping to offset a lack of appetite from builders and other traditional industrial users as economies slow.

Polish wind power lobby criticises new renewables law
Poland’s wind power lobby said a draft bill on renewable generation, which would set an effective limit on prices, would hinder development of renewables and violate European and local law.

Report: Wind power is ‘unequivocally’ reliable and green
Business Green
Criticism from 106 Conservative MPs about the effectiveness of wind power are incorrect and are seriously damaging the technology’s potential to cut carbon emissions and boost the green economy.

Beyond the bluster: Why wind power is an effective technology

Chile hails groundbreaking deep geothermal well
Business Green
Plans to build the first fully operational deep geothermal well in South America have taken a major step forward after developer GeoGlobal Energy (GGE) finished a test drilling programme in Chile.

Debt Cloud Hangs Over Chinese Solar Industry
The Wall Street Journal
Thanks to the steadfast support of local governments and banks, Chinese solar companies—unlike their Western counterparts—have been able to downplay concerns over mounting debt obligations. But raising the capital needed to turn themselves around may be tougher.


Renewable energy certificates witness a record trade in August on IEX
The Economic Times
In its 16th trading session, India energy exchange (IEX) witnessed a record trading figure of renewable energy certificates (RECs). Out of the 5,68,097 RECs that were available for sale, 2, 48,165 RECs were issued – the highest issuance for any month till date.


Beyond the bluster: Why wind power is an effective technology (Posted Aug. 30, 2012)

Carbon Tax Revenue and the Budget Deficit: A Win-Win Solution? (Posted Aug. 27, 2012)

The 21st Century Corporation: The Ceres Roadmap for Sustainability (Posted Aug. 21, 2012)


European Power & Renewables Deals: Quarterly M&A outlook (Posted August 15, 2012)

Advancing Technology for America’s Transportation Future (Posted August 6, 2012)

Benchmarking Air Emissions Of the 100 Largest Electric Power Producers in the United States (Posted July 31, 2012)

Per capita CO2 emissions in China reached European level (July 18, 2012)

The Interim Regulation of Voluntary Greenhouse Gases Emission Trading in China (Posted July 10, 2012)
The Climate Group

Measure for Management: C40 Cities (July 9, 2012)
Carbon Disclosure Project

View all reports >

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