It’s all about Europe in today’s edition. The old continent is getting wishy-washy about its ambitious energy-saving goal (30% for 2030), while a study finds that ‘green’ economy could boost jobs there, and Germany sets an example for all in pledging $1 billion for the U.N. climate fund. Also in this edition: China. Beijing hints at the fact that it may soon have a calendar for curbing emissions.
Quote of the day
“This announcement ends the deafening silence we’ve had so far around the empty Green Climate Fund that is supposed to support poor countries in the battle against climate change. Now others must follow suit.”
Oxfam Germany’s Jan Kowalzig, in the Thompson Reuters Foundation’s story Germany sets example, pledges $1 billion to U.N. climate fund
Europe mulling energy efficiency target below Juncker’s 30% ‘minimum’
The European commission is considering an energy-saving goal for 2030 of less than 30%, according to a document seen by Reuters, setting it at odds with designated commission president Jean-Claude Juncker.
EU study finds ‘green’ economy can boost jobs
The study from the European Environment Agency (EEA) found that both jobs and innovation could grow from a resource-efficient, ‘green’ economy.
China Clarifies its Plans on Setting a CO2 Emissions Peak
Andrew C. Revkin, The New York Times
With climate treaty negotiations expected to intensify next year, China is signaling that it may soon set the timetable for hitting an eventual peak in its emissions of carbon dioxide, the most important human-generated greenhouse gas.
Emitters in China’s largest carbon market meet targets amid falling prices
Stian Reklev and Kathy Chen, Reuters
Nearly every carbon emitter covered by China’s largest pilot emissions scheme met Tuesday’s compliance deadline, a government official said, as permit prices slipped to an all-time low amid ample supply and with no last-minute scramble for allowances.
Germany sets example, pledges $1 billion to U.N. climate fund
Megan Rowling, Thomson Reuters Foundation
Aid group Oxfam has called on other rich nations to follow the example of Germany, which has promised 750 million euros ($1 billion) for the U.N.’s fledgling Green Climate Fund.
***LB: Also in this story “The fund was agreed at U.N. climate talks in 2010 but has been hampered by wrangling over its design.”
Carbon market pays off: 89m euros to fund French projects
For the first time ever, the sale of carbon credits will finance projects that help tackle climate change. The EU Commission will fund 19 projects, two of which are in France. http://jlne.ws/1oHC3qw
***LB: Also in this story “Akuo wants to build a floating Ocean Thermal Energy Conversion (OTEC) facility in Martinique. It will receive 72 million euros of funding.”
European Investment Bank Provides 150 Million euros Loan To Israel’s Largest Solar Power Project
Mridul Chadha, Clean Technica
Israel is working towards achieving its goal to source 10% of its total electricity needs from renewable energy sources by 2020.
Scientists Take Issue With Rupert Murdoch’s Remarks on Climate Change
Eric Roston, Bloomberg
Poor Australia. It’s responsible for just a tiny fraction of the global warming that’s occurred so far and is already bearing much of the punishment.
Japan nuclear plant gets safety clearance, Abe hopes for restarts
Mari Saito and Kentaro Hamada, Reuters
A nuclear plant in southern Japan cleared an initial safety hurdle on Wednesday which could make it the first nuclear facility to restart under tough new safety regulations after the industry was idled by the 2011 Fukushima disaster.
(Japan’s) NRA poised to greenlight restart of two Kagoshima reactors
The Nuclear Regulation Authority was expected Wednesday to approve the restart of two atomic reactors, in a move likely to ignite fresh protests over returning to the technology more than three years after the Fukushima meltdown crisis started. http://jlne.ws/1n9IcjG
EMA’s 18th Annual Meeting
Join the Environmental Markets Association and environmental industry professional for two days of dynamic sessions, two nights of networking receptions, and countless opportunities to increase your business contacts.
October 22 – 24, 2014
Santa Monica, CA
FT European Gas Summit
The FT European Gas Summit brings together leading and aspiring gas suppliers from around the globe, as well as energy industry experts, commentators and government decision makers to review the potential barriers to new gas supplies for Europe, and the impact on the region’s economic competitiveness. The summit will be chaired by Guy Chazan, Energy Editor, Financial Times.
23 October 2014
S.Korea’s carbon trading to cost $27 bln; should be delayed -business
Chris Lee, Reuters
South Korea’s emission trading to start next year will cost a total of 27.5 trillion Korean won ($26.64 billion) for the next three years and should be delayed to 2020, a business lobby group said.
GGGI chief says carbon trading not too early for S. Korea
It isn’t too early for South Korea to launch a carbon emissions trading market next year, contrary to claims by the country’s business groups, although the government should ensure a reasonable baseline that determines the level of required emissions reduction, the head of the Global Green Growth Institute (GGGI) said.
Carbon tax repeal: Clive Palmer adds India to list of nations that must act on ETS before Australia
Jake Sturmer, ABC
Mr Palmer, whose senators last week skewered the Coalition’s attempts to scrap the tax, claiming the Coalition had “double-crossed” them over a condition that power savings be passed on to consumers, on Monday announced he would back a third push to repeal the tax.
Shinsei Plans $2 Billion of Loans for Clean Energy in Japan
Chisaki Watanabe, Emi Urabe and Tesun Oh, Bloomberg Businessweek
Shinsei Bank Ltd., a lender for Goldman Sachs Group Inc.’s clean-energy projects in Japan, plans to provide as much as 200 billion yen ($2 billion) in loans for renewable developments.
House Republicans take aim at EPA climate rules
Benjamin Goad, The Hill
House appropriators on Tuesday approved a $30 billion spending bill designed to block a host of looming Environmental Protection Agency regulations viewed by the GOP as exceeding the agency’s authority.
Captured CO2 used to grow fish food
Will Nichols, BusinessGreen
Gas from a carbon capture and storage (CCS) testing site is set to be used to grow algae as food for farmed fish as part of a $2m trial project in Norway.
Natural gas / coal
Hungry U.S. Power Plant Turns to Russia for Coal Shipment
Mario Parker, Bloomberg Businessweek
When New Hampshire’s largest utility needed to rebuild coal supplies after the past frigid winter, it turned to Russia rather than Appalachia in the U.S. Northeast or Wyoming’s Powder River Basin.
(Column) The Big One: Russia’s Bazhenov shale
John Kemp, Reuters
As U.S. and EU policymakers have imposed targeted sanctions on Russian individuals and firms in response to the crisis in Ukraine, Western companies have sought to insulate their own projects from the political imbroglio and continue developing the country’s vast oil and gas resources.
Capturing value in global gas: Prepare now for an uncertain future
Unforeseen events have disrupted the gas market in the last eight years but paradoxically lent it a degree of stability—for the time being, at least.
Manchin Ex-Im coal provision sparks Dem infighting
Laura Barron-Lopez and Timothy Cama, The Hill
Shots fired: Sen. Joe Manchin’s (W.Va.) push to roll back restrictions on financing overseas coal plants is not playing well with some of his fellow Democrats.
European wind industry warns of offshore slowdown
Jessica Shankleman, BusinessGreen
The construction of offshore wind farms across Europe is starting to slow down, despite nearly 5GW of new capacity being built in the first half of this year.
UK approves construction of E.ON offshore wind farm
The British government on Wednesday approved the construction of utility E.ON’s 700 megawatt Rampion offshore wind farm off the coast of Sussex in the southern England.
India looks to solar; creditors back wind
Suzlon hit the headlines last week after it announced on 9 July that its creditors had approved the company’s plan to issue up to $US577 million in convertible bonds.
***LB: Also in this story “The restructuring plan should help Asia’s second-largest wind-turbine maker clear a fundraising hurdle.”
Court backs Chinese firm in dispute with Obama
Timothy Cama, The Hill
A federal appeals court ruled Tuesday that the Obama administration violated the law when it blocked a Chinese-owned company from buying four wind farms in Oregon over national security concerns.
How California dominates in clean tech leadership
Garrett Hering, GreenBiz
The epicenter of clean-energy leadership in the United States is San Francisco, according to a new report released today by research firm Clean Edge.
***LB: Also in this story “Cities as diverse as Austin, Texas; Boston; Denver; and Portland, Ore., also are shaking things up.”
Riding the solar tuk-tuk
Swetha Gopinath, Reuters
Naveen Rabelli’s tuk-tuk broke down the first time he rolled it out of his garage. The electrical engineer didn’t lose heart: now, he plans to drive his customised three-wheeler all the way to London.
California Approves Forceful Steps Amid Drought
Ian Lovett, The New York Times
With rainfall this year at historically low levels and reservoirs quickly dwindling, California officials on Tuesday approved the most drastic measures yet to reduce water consumption during the state’s increasingly serious drought, including fines of up to $500 per day under some circumstances for watering a garden, washing a car or hosing down a sidewalk.
Drought to Cost California Agriculture $US2.2 Billion and 17,000 Jobs, But Groundwater Is a Lifeline
Brett Walton, Circle of Blue
A three-year drought that is upending notions about water availability and water management in California will cause the most economic damage in the Central Valley, a national agricultural powerhouse, according to a report published Tuesday.
Post Alstom Deal, General Electric Revs Up In The EU
Don Dion, Seeking Alpha
Recently, General Electric Co announced that it has received an order from the U.K. airline EasyJet.