Good news in today’s edition: Not only did China announce that foreign investors will be able to participate in its Shenzhen carbon market – a first – but also, some huge corporations, such as Unilever and Wall-Mart, show their commitment to renewables. One glitch, however: According to some new research by the think tank Green Alliance, commissioned by Hermes Fund Managers, millennials, skeptical of the financial industry, prefers to keep their cash,  potentially reducing investments in green projects.

Quote of the day

“Foreign investors will be more active traders than Chinese companies with only a limited need to trade their allotments, adding to liquidity.”

Charlie Cao, a Beijing-based analyst from Bloomberg New Energy Finance, in the Bloomberg’s story China to Let Foreign Investors Trade in Shenzhen Carbon Market

Lead stories 

China to Let Foreign Investors Trade in Shenzhen Carbon Market
China, the world’s biggest emitter of greenhouse gases, said it will allow foreigners to trade carbon permits in Shenzhen, making it the nation’s first emissions exchange to welcome outside investors.

Greens, industry square off over putting cars in EU carbon market
Ben Garside and Barbara Lewis, Reuters
Environmental campaigners are bracing to take on big business over whether Europe should follow California’s lead and include road transport in the EU carbon market.

Unilever confirms it has quit BusinessEurope lobby group
Jessica Shankleman, BusinessGreen
Consumer products giant Unilever has ended its membership of BusinessEurope, hinting at tensions over the lobby group’s stance on environmental policies and sustainability issues. 
***LB: Also in this story “The move will further fuel speculation that BusinessEurope’s lobbying against a host of European environmental and climate change policies has put it at odds with some of its members.”

Rosneft hit by western sanctions as $2bn Vitol deal scrapped 
Jack Farchy and Neil Hume, Financial Times
A planned $2bn deal between Rosneft and oil trader Vitol has been shelved, in the latest sign that tougher western sanctions are hampering the Russian state oil group’s ambitions.

Rosneft to acquire 30% stake in Norway’s North Atlantic Drilling
Guy Chazan and Richard Milne, Financial Times
Rosneft, Russia’s largest oil producer, is to take a 30 per cent stake in Norway’s North Atlantic Drilling in exchange for 150 of its drilling rigs, in a sign of how sanctions over the Ukraine crisis are failing to deter western companies from doing big oil deals in Russia.

GM, REI, P&G, Walmart, Facebook make big renewables commitment
Victoria Mills,
Last month, 12 major corporations announced a combined goal of buying 8.4 million megawatt hours of renewable energy each year and called for market changes to make these large-scale purchases possible.

Generation Y’s savings shortage may hit green investment
Generation Y has little interest in challenging unsustainable investment practices, potentially undermining the move to a low-carbon, climate-resilient economy. 
***LB: Also in this story “The report, based on focus groups with 37 young professionals born after 1980, argued that without “significant growth in investment” in low-carbon sectors the so-called Generation Y cohort will retire “into a world seriously affected by dangerous levels of climate change”.”

Steyer’s group brings in $500,000 in July
Timothy Cama, The Hill
The NextGen Climate super-PAC raised just over $8 million in July, but only $501,000 was from donors other than the group’s founder, Tom Steyer.

Canada’s $24M Keystone ad campaign falls flat
Laura Barron-Lopez, The Hill
Ads blanketing the Washington, D.C. metro system meant to tout Canada’s image, and boost support for the Keystone XL oil pipeline among policymakers, aren’t working, according to a survey.

Climate Interest, but No Action in the 113TH Congress
Jason Ye, C2ES (Center for Climate and Energy Solutions)
The 113th Congress (2013-2014) is on track to be one of the least productive and most divided in history. No legislation explicitly mentioning climate change has been enacted into law, but more bills and resolutions related to climate change have been introduced in this Congress than in the previous one.

DiCaprio: ‘We must put a price on carbon’ 
Laura Barron-Lopez, The Hill
Actor Leonardo DiCaprio is narrating a new series about climate change that is being released ahead of a United Nations climate summit next month.

Global warming slowdown answer lies in depths of Atlantic, study finds
Adam Vaughan, The Guardian
The key to behind the slowdown in global warming in recent years could lie in the depths of the Atlantic and Southern oceans where excess heat is being stored – not the Pacific Ocean as has previously been suggested, according to new research.


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 
London, UK 


Easy times over as carbon prices enter bullish corridor 
Commodities Now
With prices hitting a 5 month high of 6.50 euros today, established energy intelligence provider ICIS Tschach predicts a sustained increase in the price of European Trading Scheme (ETS) allowances.

Reducing NYC’s carbon emissions one building at a time
Jenna Tatum,
Hurricane Sandy highlighted New York City’s vulnerabilities to coastal storms and provided a devastating snapshot of the growing risks from climate change, including rising seas, increased heat and more frequent severe weather events.

NASA warns over mystery of ozone depleting compound
Jessica Shankleman, BusinessGreen
NASA scientists say they are baffled by the large amounts of an ozone depleting compound in the atmosphere, more than 25 years after they were banned under the Montreal Protocol.

Manufacturers target 3 states in campaign against ozone rules
Timothy Cama, The Hill
The National Association of Manufacturers (NAM) is targeting Colorado, North Carolina and Kentucky in an ad campaign against potential new ozone rules that the group said could be the most costly regulations ever.

Toxic air pollution has dropped dramatically, EPA tells Congress
Timothy Cama, The Hill
The Environmental Protection Agency has made “substantial” progress in reducing toxic air pollution since 1990, reducing many pollutants by more than half, regulators told Congress Thursday.

UN and World Bank ‘inefficiency’ blocking forest aid efforts 
Ed King, RTCC (Responding to Climate Change)
The UN and World Bank are the big winners from an international programme to combat deforestation, a report commissioned by Norway’s government has found. 
***LB: Also in this story “It warned that the Reducing Emissions from Deforestation and Forest Degradation (REDD+) scheme, which channels millions of dollars to forest protection, is inefficient and overly bureaucratic.”

Natural gas / coal

Natural Gas Production Falls Short in China 
Keith Bradsher, The New York Times
Peisheng, a drilling rig foreman, knows the challenges of trying to extract natural gas from a coal seam under the cornfields here in north-central China.

China seems to be getting the pricing balance right for natural gas
Clyde Russel, Business Day
China’s natural gas dilemma was illustrated by two recent announcements, the first a price increase and the second the closing of two gas-processing plants.


Germany gives nod to RWE unit sale to Russian investor: sources 
Germany’s economy ministry will approve the sale of utility RWE’s oil and gas unit DEA to a Russian investor despite tensions between Russia and the West over the Ukraine crisis, two people familiar with the matter said.

‘World’s biggest’ tidal array gets go ahead in Scotland
Will Nichols, BusinessGreen
The world’s biggest tidal array will be built in North Scotland, after developers yesterday agreed terms for a funding package to finance construction of the first phase of the pioneering 398MW project.

Renewable energy patents boom in Germany
Craig Morris, Energy Transition
Germany may not have much sun, but it is positioning itself to sell products to those who do.


Drought Said to Claim Trillions of Gallons 
Ian Lovett, The New York Times
About 63 trillion gallons of groundwater have been lost across the West since the start of last year because of a severe drought, a study found.

The great salty mess: pollution threatens US fresh water resources 
Ucilia Wang,
According the US Geological Survey, we have a salt problem. A recent report from the scientific agency warns of a buildup of salinity by both manmade and natural causes in our lakes, streams and rivers. 

Can A Version Of Cap-And-Trade Reduce Water Pollution? Florida Hopes So 
Jessica Palombo, WFSU
Florida plans to go statewide with a water-quality program that lets polluters partially off the hook if they buy credits for extra cleanup others have already done.

Water crisis threatens thirsty Sao Paulo
The Malaysian Insider
A severe drought is hitting Brazil’s largest city and thriving economic capital with no end in sight, threatening the municipal water supply to millions of people.


Could a Climate Change Deal Fit China’s Economic Reform Agenda? 
Joern Huenteler, The Diplomat
At its meeting Paris in December 2015, the United Nations climate change conference plans to finalize a comprehensive global greenhouse gas reduction protocol for the period beyond 2020.

Why our brains are wired to ignore climate change 
Matthew Hutson, The Washington Post
Recently I learned about “Prius repellent” — a tricked-out truck takes deep swigs of diesel and spews black smog all over a tailing vehicle, preferably a hybrid.

Greenland ice loss doubles from late 2000s
Jonathan Amos, BBC News
Added to the discharges coming from Antarctica, it means Earth’s two big ice sheets are now dumping roughly 500 cu km of ice in the oceans annually.

Study: Solar Activity Could Be Increasing Climate Change
Though major contributors, human beings are not the only cause of climate change. A new study shows the sun has a major influence on the global climate.

Norway’s gargantuan sovereign wealth fund, by the numbers
Jason Karaian, Quartz
Only 5 million people live in Norway, but thanks to the country’s careful management of its oil wealth, the country runs the largest sovereign wealth fund in the world. Everything about the fund is big. Very big.

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