Quote of the Day

“The good thing is it is giving the Commission a mandate to act before the third phase (of the carbon market from 2013). However, we lost the numbers. It was just not possible to get broad support.”

Dutch Green MEP Bas Eickhout in Reuters’ “EU politicians agree compromise text on CO2 allowances”

Lead Stories

EU politicians agree compromise text on CO2 allowances

Reuters
European parliamentarians have agreed to compromise wording ahead of a vote this month that is expected to increase pressure on the Commission to remove carbon allowances to prop up prices on the EU Emissions Trading Scheme which have plumbed record lows.
http://jlne.ws/xljz7v

Carbon Set-Aside Option Endorsed by Europe Parliament Groups

Bloomberg
The European Parliament is poised to signal support for the option of withholding some carbon permits to bolster prices after political parties in the assembly reached a compromise tied to draft energy legislation.
http://jlne.ws/z0E7mR

UBS Immunity, EU Carbon Trading Plan, Pentagon Capital Ruling: Compliance

Bloomberg
UBS AG (UBSN), Switzerland’s biggest bank, sought immunity from prosecution by Canadian regulators probing a potential conspiracy to rig the price of derivatives worldwide, three people with knowledge of the inquiry said.
http://jlne.ws/zpPr2j

US launches coalition to fight climate change

AFP
Faulting the world for not doing enough to curb climate change, the United States on Thursday announced the formation of a coalition to cut short-lived pollutants that speed up warming and harm health.
http://jlne.ws/yPvOi1

South Korean carbon trading bill faces further delay
Business Green
South Korea’s long-awaited carbon trading legislation has again been delayed, after a key parliamentary vote scheduled for today was put back.
http://jlne.ws/AoBBTb

Investors call on European Central Bank to address ‘carbon bubble’ risk
Business Green
The group of investors pushing the Bank of England to undertake a formal investigation into the systemic risks posed by exposure to high-carbon assets have turned their attentions to the EU and are preparing a letter to Mario Draghi, president of the European Central Bank (ECB), calling for a similar probe at a European level.
http://jlne.ws/A7wZiQ

People Displaced by Climate Change Need Our Help, But So Do Those Who Cannot Leave

Scientific American
The environment is already affecting patterns of human migration. On the island of Hatia, along coastal Bangladesh, 22 percent of households have migrated to cities as a coping strategy following tidal surges.
http://jlne.ws/xW5O4D

THE REPORT:
Migration and Global Environmental Change
U.K. Government Office for Science
http://jlne.ws/xvbCRX

Russia to Issue 100 Million Carbon Credits
Reuters
Russia will issue 100 million carbon certificates worth 500 million euros ($650 million) in 2012, a Sberbank executive who helps administer projects for the government said in an interview. Russia has issued 28.6 million credits to date under the United Nations Joint Implementation mechanism, a scheme to spread green technology in countries that have pledged to reduce greenhouse gases under the 1997 Kyoto Protocol.
http://jlne.ws/wRmzeB


US

Agency wants scrutiny of California CO2 auction revenue
Point Carbon
California lawmakers should put the brakes on Governor Jerry Brown’s plans to use the estimated $660 million to $3 billion raised from the sale of carbon allowances to ensure it is used wisely, a government agency said Thursday.
http://jlne.ws/wiznzS

New Jersey study says taxing plants for carbon emissions creates jobs

Philadelphia Inquirer
Taxing power plants for their carbon emissions doesn’t kill jobs, it creates them, according to a report issued Wednesday by a New Jersey environmental policy group.
http://jlne.ws/ypHTtj

U.S. ‘Losing Momentum’ in Biofuels Makes Novozymes Target Brazil
Bloomberg
Novozymes A/S (NZYMB), the world’s biggest maker of enzymes for biofuels, is focusing its expansion efforts in Europe, China and Brazil and isn’t pursuing new projects in the U.S. because of the lack of political support.
http://jlne.ws/xJZGsO
**repeats in Latin America

Australia’s CBD to Buy Westinghouse Solar to Enter U.S. Market

Bloomberg
CBD Energy Ltd. (CBD), an Australian renewable energy company, agreed to buy Westinghouse Solar Inc. (WEST) in a stock swap to enter the U.S. rooftop solar market.
http://jlne.ws/ysuSfp
**repeats in Asia

Caterpillar’s MWM Sees Rise in Clean Engines Amid Nuclear Woes
Bloomberg
MWM GmbH, the German engine maker bought last year by Caterpillar Inc. (CAT), said more customers are looking for alternative-fuel engines as Germany winds down its nuclear power.
http://jlne.ws/yZwLjR
**repeats in Europe

Canada

Nobel winners urge EU leaders to back tar sands law
Reuters
A group of Nobel peace prize winners urged European leaders in a letter on Thursday to support an EU Commission proposal to class fuel from oil sands as highly polluting.
http://jlne.ws/zd6V5H
*Also in Europe.

Do you agree with the direction Environment Canada is taking?
CBC
Environment Minister Peter Kent announced Thursday that Canada has pledged $3 million to programs to reduce emissions of greenhouse gases other than carbon dioxide in developing countries.
http://jlne.ws/wEVo4C

New study shows no evidence of groundwater contamination from hydraulic fracturing
Press Release
Hydraulic fracturing of shale formations to extract natural gas has no direct connection to reports of groundwater contamination, based on evidence reviewed in a study released Thursday by the Energy Institute at The University of Texas at Austin.
http://bit.ly/xhAWip

Europe

Nobel winners urge EU leaders to back tar sands law
Reuters
A group of Nobel peace prize winners urged European leaders in a letter on Thursday to support an EU Commission proposal to class fuel from oil sands as highly polluting.
http://jlne.ws/zd6V5H
*Also in Canada

Spain Says $31 Billion Power-System Debt Burden Must Be Shared
Bloomberg
Spanish utilities, energy consumers and the government will need to share the 24 billion-euro ($31 billion) debt burden run up by the nation’s power system, according to Industry Minister Jose Manuel Soria.
http://jlne.ws/wmWXXO

Caterpillar’s MWM Sees Rise in Clean Engines Amid Nuclear Woes
Bloomberg
MWM GmbH, the German engine maker bought last year by Caterpillar Inc. (CAT), said more customers are looking for alternative-fuel engines as Germany winds down its nuclear power.
http://jlne.ws/yZwLjR
**repeats in US

Iberdrola Awards Siemens, Prysmian $1.6 Billion Renewables Link

Bloomberg
Iberdrola SA (IBE) and National Grid Plc (NG/) awarded Siemens AG (SIE) and Prysmian (PRY) SpA a 1 billion-pound ($1.6 billion) contract to build an undersea link to transmit renewable power between England, Wales and Scotland.
http://jlne.ws/AavCZI

Solvay earnings from CO2 credits fall 25 pct in Q4
Point Carbon
Chemicals company Solvay, the biggest recipient of carbon offsets through the Kyoto Protocol after it bought French rival Rhodia last year, said on Thursday that earnings from the sales of offset credits fell 25 percent in the fourth quarter of 2011 compared to the equivalent period in 2010.
http://jlne.ws/wS3u7M

Asia

Carbon tax hot air for Adelaide Brighton

AAP
Building materials producer Adelaide Brighton says it expects the carbon tax will have only a slightly greater effect on its business than initially anticipated.
http://jlne.ws/wxpNg2

Australia’s CBD to Buy Westinghouse Solar to Enter U.S. Market
Bloomberg
CBD Energy Ltd. (CBD), an Australian renewable energy company, agreed to buy Westinghouse Solar Inc. (WEST) in a stock swap to enter the U.S. rooftop solar market.
http://jlne.ws/ysuSfp
**repeats in US

Africa/Middle East

Kenya’s pastoralists reach out for carbon cash
Thomson Reuters AlertNet
If the promise of earning carbon credits is realised, Nixon Parnisa counts himself among hundreds of pastoralists likely to profit from a new revenue stream.
http://jlne.ws/xiQkDx

Latin America

U.S. ‘Losing Momentum’ in Biofuels Makes Novozymes Target Brazil
Bloomberg
Novozymes A/S (NZYMB), the world’s biggest maker of enzymes for biofuels, is focusing its expansion efforts in Europe, China and Brazil and isn’t pursuing new projects in the U.S. because of the lack of political support.
http://jlne.ws/xJZGsO
**repeats in U.S.

Malaga to Develop 20-Megawatt Hydroelectric Plant for Peru Mine
Bloomberg
Malaga Inc. (MLG), the Canadian mining company, will build a hydroelectric plant with 20 megawatts of capacity at its Pasto Bueno tungsten mine in northern Peru.
http://jlne.ws/yHtsND

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