Quote of the Day
“It’s a perverse incentive to have a system where you actually get charged for the non-stopover flight even when the stopover flight uses more emissions overall.”
Lorand Bartels, Cambridge senior lecturer in WTO and international law, in Bloomberg’s “EU’s Emission’s Trading System Would Beat WTO Challenge”
EU carbon trading system needs major overhaul: Deutsche Bank
The EU Emissions Trading System needs fundamental reform if it is to be capable of sending a long-term price signal for low carbon energy investment, Deutsche Bank said in a report Friday.
**JK – Nice work from Deutsche Bank on this issue.
Deutsche Bank Says C02 Set-Aside Won’t Spur Clean Investment
A temporary removal of allowances from the European Union’s emissions trading system may not be enough to spur investments to cut carbon dioxide and instead structural changes are needed, according to Deutsche Bank AG.
EU’s Emission’s Trading System Would Beat WTO Challenge
The European Union’s plan to impose carbon-emissions curbs on international airlines would probably stand up to any challenge at the World Trade Organization, according to a study by a University of Cambridge researcher.
**JK – It’ll be interesting to see China, of all countries, complaining to the WTO about the EU ETS.
EU states say renewable goal not fair on other fuels
Renewable energy does not have more right to an EU target than other fuels, according to pro-nuclear states and coal-intensive Poland, as debate heats up over updating a 2020 goal to have a 20 percent share of green fuel in the energy mix.
**RKB – Nothing much we don’t already know about drafting of Energy 2050 Roadmap. For their part, Britain and France calling for “technology neutral” approach.
Mexico poised to pass landmark climate change act
Mexico is set to become the second country in the world to pass a far-reaching Climate Change Act that will impose binding emission reduction targets on successive governments.
**RKB – Bill similar to that in the U.K., will require future government’s to meet periodic emission reduction targets with the end goal of cutting carbon emissions 50% by 2050.
California confident of 2013 emissions trading start
California’s carbon emissions cap-and-trade programme will likely start on time next year, according to the state’s chief regulator, despite deepening market scepticism following a delay to the first auction of allowances and a new lawsuit.
G20 urged to boost green policies to stimulate economic growth
Developed countries including the UK and US will today be urged to deliver clear and credible policies for stimulating green investments, as part of a major new report launched just days ahead of a crucial meeting of G20 finance ministers.
Column: BREAKINGVIEWS-Green energy may yet survive poison of cheap gas
The cheapest natural gas price for a decade is a boon for American homeowners. At less than $2 per million British thermal units, though, it looks toxic for its already troubled rival, the solar energy sector. But gas isn’t close to chocking the life out of it just yet.
Scotland Offers Tax Break to Oil Companies Stung in U.K. Budget
Scotland Energy Minister Fergus Ewing said he wants to entice investment in the oil and gas industry and become a hub for offshore wind developers by reducing corporate taxes levied in the U.K. government budget.
**RKB – Scottish rebellion 21st century-style and courting U.S. investment.
LNG Export Plant Verges on U.S. Approval Amid Shale Glut
Cheniere Energy Inc. (LNG), the natural gas importer that lost $1.2 billion in a decade, is poised to become the sole U.S. exporter of fuel from the shale bonanza that’s turned the nation into the world’s biggest gas producer.
Solar prices drop more, pressuring panel makers
Solar panels prices have kept marching lower this year, extending steep declines seen in 2011 and keeping pressure on hard-hit manufacturers who have struggled to eke out profits, industry experts said.
Report: Clean energy investment at “historically low levels”
Global clean energy investment entered the doldrums during the first quarter of the year, according to the latest set of figures from analyst firm Clean Energy Pipeline.
**RKB — Follows Bloomberg New Energy Finance report of last week showing 28% drop in Q1 investment from previous quarter.
Democrats urge court to uphold Dodd-Frank limits on oil speculation
The Hill’s E2 Wire
Nineteen senators are urging a federal court to uphold rules from the Dodd-Frank reform law that limit speculative trading in oil and other commodities.
Analysis – Obama’s “green jobs” have been slow to sprout
Three weeks ago, President Barack Obama stood in front of a sea of gleaming solar panels in Boulder City, Nevada, to celebrate his administration’s efforts to promote “green energy.”
Lawsuits won’t stop launch of California CO2 market: experts
Legal challenges to California’s cap-and-trade program are unlikely to delay the start of compliance with the system on January 1, 2013, a panel of legal experts said Thursday.
U.S. Solar Developer Withdraws Its IPO
Wall Street Journal
BrightSource Energy Inc.’s decision to cancel a planned IPO may have been a logical response to stock-market conditions, but the move adds to recent disappointments for the clean-technology industry.
Emissions data confirms Canada struggling to meet carbon goal
The latest figures from the National Inventory Report show that emissions rose 0.25 per cent in 2009-10 to 692 megatons, meaning that deep emission reductions will be required over the coming years if the government is to reach its target of annual emissions of 607 megatons by 2020.
Canada unveils heavy-vehicle emissions rules
Canada, heavily criticized for its environmental record, unveiled long-delayed regulations on Friday that aim to make big trucks and buses up to 23 percent less polluting by 2018.
Carbon capture project inches closer to construction
Journal of Commerce
A proposed Carbon Capture and Storage (CCS) Project in Alberta took another step toward being the first facility of its type in the province, while the public input process for the federal environmental assessment wraps up
Power plant rule changes a setback to Canada CO2 goals: group
A major environmental think tank urged Canada’s government Thursday not to alter its draft rules for coal-fired generation, warning officials that proposed changes could reduce the effectiveness of the greenhouse gas regulations by half in their first 15 years.
Enel Green Power CEO says fine with Italy renewables decree
The chief executive of Enel Green Power, the renewable energy unit of utility Enel , said on Friday he had no complaints about the government’s new incentive scheme for the sector.
German KfW, UK green bank agree cooperation
Germany‘s state-controlled KfW bank said it had agreed to exchange ideas about investment in low-carbon energy projects with Britain’s new Green Investment Bank (GIB).
Spain Risks Breaking Law on Power-Tariff Deficit, CNE Says
The Spanish government risks breaching the legal limit for the deficit in electricity-system revenues should demand fall short of its forecasts, the country’s energy regulator said.
EON’s Waste Unit to Get Final Bids Under EU1.5 Billion, FAZ Says
EON AG (EOAN), which got non-binding bids of as much as 1.5 billion euros ($2 billion) for its energy- from-waste unit, will probably see interested parties reducing their offers in the next round, Frankfurter Allgemeine Zeitung reported, without saying where it got the information.
Nordex Wins Turbine Orders From Dutch Utilities for Wind Farm
Nordex SE (NDX1) won four contracts to add about 60 megawatts of turbines to a wind farm in the Netherlands. No terms were disclosed.
Green offices and cool canals
Canals: living embodiment of our industrial heritage, favoured option of generic Brit gangster film location scouts, and now the most environmentally friendly means of cooling your waterfront office.
Japan Greenhouse Gas Emissions Rose 4.2% on Recovering Economy
Japan’s greenhouse gas emissions for the year ended March 2011 rose 4.2 percent as the economy recovered from the 2008 financial crisis, the Environment Ministry said today, exceeding a previous estimate.
Emissions Trading Scheme | Give Science A Chance
If there’s one thing guaranteed to spark debate in business, especially farming, circles, it is three words we collectively know as the Emissions Trading Scheme.
River plan a big drain on farming
AGRICULTURAL production in just three key sectors in northern Victoria could be slashed by almost $120 million a year if the water cuts proposed by the draft Murray-Darling Basin Plan are implemented, the Victorian government has warned in its formal response to the plan.
Brazil forest projects issued first temporary CERs
The U.N. issued 4.1 million carbon credits on Friday to a controversial reforestation project in Brazil, making it the first forestry project in the world to receive temporary Certified Emissions Reductions (tCERs), the World Bank said.