In today’s edition, China leads the news, with a new carbon market to be launched on June 13 and an assessment of its new energy policy, away from coal. Also featured, the tail end of the many stories dealing with the EPA new rules.
Quote of the day
“Politicians don’t say directly ‘Don’t worry, technology will come along and save us,’ but it’s implied by the continual delay of doing any real climate policy”
Jonn Axsen, an assistant professor at Simon Fraser University’s School of Resource and Environmental Management, in the Canadian Press’ story Climate Change Has No Last-Minute Science Solution: Study
China’s Chongqing to launch carbon market trading on June 13
Kathy Chen and Stian Reklev, Reuters
The southwestern city of Chongqing will be the seventh region in China to launch carbon trading when its market opens on June 13, the local carbon exchange said Thursday, in a move designed to curb the city’s greenhouse gas emissions.
China to inject around 6 mln offset credits into domestic carbon mkt
China has agreed to let 14 projects that can generate around 6 million offset credits per year sell them into the country’s six carbon markets, offering a low-cost option for 2,000 power generators and manufacturers to comply with CO2 regulations.
***LB: Also in this story “Under the regional CO2 markets, China’s primary policy to halt the rapid growth of climate-changing greenhouse gas emissions, companies must hand over permits to the government each year to cover for their emissions, or face a fine.”
China’s planned shift off coal puts $21 bln investment at risk -report
China’s increasing efforts to shift away from coal to cleaner fuels could put annual investments of around $21 billion at risk of being stranded, a research report estimated on Thursday.
***LB: Also in this story “Chinese coal companies spent around $21 billion in 2013 on exploring and developing coal resources, despite a government push to use more natural gas, nuclear power and renewables to generate power.”
Climate Change Has No Last-Minute Science Solution: Study
Dene Moore, The Canadian Press
There is no scientific silver bullet that will save the world from the effects of climate change, says a new study.
*** LB: Also in this story “Canadian and American researchers looked at approaches already widely in place like forest and soil management, as well as more controversial ideas such as ocean fertilization and solar radiation management. What they found is that none of these — or even all of them together — compare to the impact of reductions in human-generated greenhouse gas emissions.”
EPA policy change may hinge on 1 word
David G. Savage, Los Angeles Times
The coming legal battle over President Obama’s far-reaching climate-change rules will probably turn on the meaning of one word in the Clean Air Act of 1970 — “system.”
Senate Dems welcome climate debate with GOP
Laura Barron-Lopez, The Hill
Get ready to rumble: Senate Democrats are inviting Republicans to engage in a “robust exchange of views” on climate change Monday.
Retired Navy SEAL Says Keystone XL Would Be Highly Vulnerable To Attacks
Kate Sheppard, HuffPost
If constructed, the Keystone XL pipeline would be highly vulnerable to terrorist attacks, according to a paper that an environmental group released Wednesday.
TransCanada: Keystone terror threat report is ‘misleading’
Laura Barron-Lopez, The Hill
Keystone XL pipeline developer TransCanada rejected the report commissioned by billionaire Tom Steyer, which found that the project is a prime target for terrorists.
London Stock Exchange joins UN sustainable stock exchanges initiative
London Stock Exchange Group (LSEG) is delighted to announce that it has joined the United Nations (UN) Sustainable Stock Exchanges (SSE) initiative as a Partner Exchange.
U.S. CO2 Output Projected to Be Above 1990 Level in 2030
Alex Morales, Bloomberg
U.S. carbon emissions are projected to remain above 1990 levels in 2030, even after U.S. President Barack Obama’s administration announced new rules to slash greenhouse gases from power plants by almost a third.
Obama Clean-Air Rules Said to Underplay Methane Gas Risks
Isaac Arnsdorf, Bloomberg
President Barack Obama’s plan to fight global warming underestimates pollution from natural gas, according to scientists studying how leaks affect the climate.
***LB: Also in this story “The issue is that methane leaks while natural gas is being extracted, processed and transported, and methane causes more warming than equivalent amounts of carbon dioxide”
Siemens Could Struggle to Turn Alstom
Renée Schultes, The Wall Street Journal
Siemens still is powering up for a move on Alstom. With just more than a week until the German conglomerate’s deadline for deciding whether to counter General Electric’s offer for Alstom’s energy business, crafting a proposal that will win over Alstom’s board looks challenging.
Siemens would keep stake in Alstom trains combination: executive
German engineering group Siemens would keep a minority stake in any enlarged Alstom train-making business should its plan to buy the French company’s power turbines arm work out, the head of Siemens France told a French newspaper.
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AB InBev sees $200 mln savings through lower CO2 emissions
Anheuser-Busch InBev, the world’s largest brewer, intends to reduce greenhouse gas emissions in its logistics by 15 percent, a plan that should save it up to $200 million by 2017.
***LB: Also in this story “the emission reductions would cover transportation into and out of its breweries and at warehouses, all of which are generally operated by third parties”
US Federal Government Throws Its Weight Behind REDD
Gloria Gonzalez, Ecosystem Marketplace
In the shadow of political uncertainty and Congressional inaction, US President Barack Obama has not been shy about his using his executive authority to support projects that reduce emissions from deforestation and forest degradation (REDD+).
***LB: Also in this story “His administration has pledged $1 billion to REDD+ efforts in recognition of the fact that as much as 80% of greenhouse gas (GHG) emissions come from the land use sector in some developing countries.”
Natural gas / Coal
Berlin prepares to allow fracking
Jeevan Vasagar, Financial Times
Germany is set to lift its ban on fracking as early as next year, after caving in to business demands that it should reduce its dependency on Russian energy and boost competitiveness with US manufacturers.
Shale gas firms to get more power to drill under (UK) homes
Terry Macalister, Damian Carrington and Patrick Wintour, The Guardian
A group of 50 academics from some of the UK’s leading universities today call on politicians to fast-track a UK shale gas industry, the latest salvo in an increasingly polarised debate around fracking.
***LB: Also in this story “The move comes just days after Sir Paul McCartney and 150 other celebrities called on the government to immediately halt all drilling operations on the grounds that they could damage the environment.”
As Indonesia seeks quick fix to power woes, gas export curbs loom
Brian Leonal and Florence Tan, Reuters
Indonesia is developing more small gas-fired power plants, as Southeast Asia’s biggest economy aims to meet soaring electricity demand and cut dependence on oil imports, in a move likely to divert greater quantities of gas away from exports.
NRG Yield to buy largest N America wind farm for $870 mln
Sneha Banerjee, Reuters
NRG Yield Inc will buy the largest wind farm in North America for $870 million, helping parent NRG Energy Inc bulk up its clean energy portfolio and comply with strict air emission rules.
From coal mine to wind farm: Partnership for Renewables cuts ribbon on pioneering project
An old coal mine spoil tip is to provide the location for the UK’s latest wind energy project, as Partnership for Renewables today prepares to cut the ribbon on a pioneering new two turbine development in South Wales.
Renewable sources key to lower energy costs
Ed Crooks, Financial Times
The world could provide energy at a lower cost by doubling the share that comes from renewable sources such as wind and solar power, according to the international agency for supporting those technologies.
***LB: Also in this story “the increase could be achieved using today’s technology, and globally would have a lower cost than using fossil fuels”
CLP tells Hong Kong to boost gas-fired power, instead of China imports
Charlie Zhu, Reuters
Hong Kong-based utility CLP Holdings is calling on the local government to boost the use of natural gas for electricity generation rather than opt for a sharp increase in power imports from mainland China to cut pollution in the city.
(UK Conservative) Eric Pickles clamps down on onshore wind farm applications
Jim Pickard, Financial Times
Eric Pickles has turned down applications to build 10 onshore wind farms in the past year, prompting accusations that the communities secretary is killing the industry’s growth in the UK.
Here’s How Much U.S. Summers Have Warmed Since 1970
Brian Kahn, Climate Central
June is here, so let the great debate over the Song of the Summer begin!