Quote of the Day

“The external costs of greenhouse gas emissions will become internalized into company cash flows and profitability. Managing greenhouse gas emissions is therefore essential to delivering sustainable shareholder returns.’’

Paul Abberley, chief executive officer at Aviva Investors in London said in Bloomberg’s “Investors Worth $10 Trillion Say Carbon May Hinder Profit.”

Lead Stories

EU Nations Split on Climate Goals Before March Ministers Meeting
Bloomberg
European Union governments remain split on whether to support a pathway to long-term climate goals drafted by the bloc’s regulator that some investors say could bolster carbon prices, according to an EU document.
http://jlne.ws/ysNvRY
**JK – It’s not really a split (as in 50-50), more like 19-8.

Q+A: Will Moscow talks unleash carbon trade war against EU?

Reuters
A group of nations opposed to an EU law forcing all airlines to pay for their emissions meets in Moscow this week to debate possible retaliation, raising the risk of a trade war.
http://jlne.ws/A8oA1p
**JK – Splashy headline, with rather subdued commentary within. Short answer to the above question – Not likely.

EU Ministers Mull Climate Aid From Airlines, Ships, Draft Shows
Bloomberg
European Union finance ministers will ask the bloc’s regulator to analyze how putting a price on carbon from aviation and shipping could help raise funds to fight climate change, according to a draft EU document.
http://jlne.ws/AABAAo

ICE Futures Europe Announces Status as Recognised Auction Platform

Press Release
IntercontinentalExchange (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced that the UK’s financial regulator, the Financial Services Authority (FSA) has authorised ICE Futures Europe to operate as a Recognised Auction Platform (RAP).
http://jlne.ws/Ao9uE0
**JK – ICE CEO Jeff Sprecher can speak really, really fast.

New Zealand carbon prices fall below Europe’s
Reuters
New Zealand carbon prices rose on Friday, but fell below European permit prices for the first time since July after strong gains in Europe due to planned legislative changes.
http://jlne.ws/x9Jpz4

Investors Worth $10 Trillion Say Carbon May Hinder Profit

Bloomberg
Investors with about $10 trillion under management, including Banco Santander SA (SAN), Henderson Group Plc and Axa SA, urged companies to cut carbon-dioxide emissions to protect themselves against future climate policies.
http://jlne.ws/yiUwfr
**JK – This will be true only if the policies remain in tact and strong.

Our climate heroes will wear a well tailored suit

ABC
KEVIN RUDD ONCE famously said climate change is “the great moral challenge of our generation”. It’s a sentiment that has been echoed by numerous religious leaders. They are referring to the fact that although climate change has largely been brought about by rich countries, it is the poorest countries that will be least able to cope with the consequences.
http://jlne.ws/y85kXD
**JK – That’s funny, I thought Al Gore said “global warming is is not just about science and that it is not just a political issue. It is really a moral issue.” That’s the famous quote.

Environmental factors must be included in GDP, say scientists

Business Green
Countries must move beyond tracking economic growth using measures of gross domestic product (GDP) and incorporate environmental and social dimensions into a new measure of wealth if they are to avoid an escalating series of climate, biodiversity and poverty crises.
http://jlne.ws/z5Xmtg

Australian PM urged to sack minister, end leadership crisis

Reuters
Australian Prime Minister Julia Gillard should sack her foreign minister, who she toppled to be premier in 2010, and end a bitter leadership crisis that threatens her minority government and is repelling voters, a senior minister said on Monday.
http://jlne.ws/AnWtL6
**repeats in Asia

India May Levy 19% Import Tax on Power Gear Including From China
Bloomberg
India’s cabinet is likely to approve a proposal to impose a 19 percent duty on imports of power generation equipment to help local manufacturers Bharat Heavy Electricals Ltd. (BHEL) and Larsen & Toubro Ltd. (LT) compete for orders with Chinese rivals, according to a government official.
http://jlne.ws/wHQlwm
**repeats in Asia

Munich Re Sees $658 Million in Renewable Energy Insurance Sales
Bloomberg
Munich Re (MUV2), the world’s largest reinsurer, may generate 500 million euros ($658 million) in annual revenue within five years from insuring renewable energy projects, including protecting against the risk that their solar suppliers become insolvent.
http://bit.ly/zx70hi

U.K. Wind Power Reached Record High of 3,428 Megawatts Feb. 17
Bloomberg
U.K. wind generation set a record on the evening of Feb. 17, according to National Grid Plc data compiled by Bloomberg.
http://bloom.bg/xeov74

A Practical Blueprint for a Low-Carbon Electric World?
ScienceNOW
Today, fossil fuels such as coal and natural gas provide 85% of the world’s base-load power, says engineer Jatin Nathwani, executive director of the Waterloo Institute for Sustainable Energy and a member of the group that met last summer. To phase out coal, the group recommended honing and then scaling up several relatively new technologies, such as advanced geothermal energy, which entails drilling deep enough into the earth to harvest the heat of the earth’s interior. They also recommend developing and scaling up two types of advanced nuclear power plants: integral fast reactors and thorium reactors. Both styles of plant produce inexpensive, carbon-free power while recycling nuclear waste.
http://jlne.ws/Ai0pFk

Simons: Impact of burning all Alberta’s oilsands negligible, scientists argue
Edmonton Journal
In their paper, Swart and Weaver conclude the impact of burning all the economically viable proven reserve of Alberta’s oilsands — all 170 billion barrels — would be negligible. Burning all the proven reserve between 2012 and 2062, they say, would raise global temperatures by just 0.02 C to 0.05 C.
http://jlne.ws/AqsU4G

US

Santorum: Obama Favors ‘Earth Above Man’
Bloomberg
Republican presidential candidate Rick Santorum says President Barack Obama is beholden to “radical environmentalists” and has “a world view that elevates the earth above man.”
http://jlne.ws/z2H87H
**JK – I’ve read and re-read that quote and still can’t figure it out, other than to say, it doesn’t make any sense.

US and Mexico announce accord to boost offshore oil, gas exploration
The Hill’s E2 Wire
Secretary of the Interior Ken Salazar announced Monday that an agreement had been reached between the United States and Mexico to allow drilling for oil and natural gas along the boundary between the two countries.
http://jlne.ws/yLyPWY

Energy Department rejects GOP claims about solar loan project

The Hill’s E2 Wire
The Energy Department rejected allegations by House Republicans that Energy Secretary Steven Chu advocated for approval of a loan guarantee for a rooftop solar project last year to help the struggling solar panel maker Solyndra.
http://jlne.ws/yOqOSz

Canada

Canada threatens trade war with EU over tar sands

Guardian
Canada has threatened a trade war with European Union over the bloc’s plan to label oil from Alberta’s vast tar sands as highly polluting, the Guardian can reveal, before a key vote in Brussels on 23 February.
http://jlne.ws/xhUcTT

Coal, not oilsands, the real threat to climate, study finds
thestar.com
One of the world’s top climate scientists has calculated that emissions from Alberta’s oilsands are unlikely to make a big difference to global warming and that the real threat to the planet comes from burning coal. http://jlne.ws/y3evVb

Canada revs up for fight over second tar sands oil pipeline
latimes.com
Canada’s recent push for the proposed Northern Gateway pipeline to carry oil from the tar sands of Alberta to the nation’s West Coast, where it would be sent to China, has been marked by uncharacteristic defiance. And it first flared in the brouhaha over the bananas.
http://jlne.ws/xtefjz

Europe

Call for fresh push to trade water
Financial Times
Leaders of the water industry have urged a fresh push behind efforts to promote water trading between different regions amid mounting fears of a drought in parts of south-east England.
http://jlne.ws/zko7eC

UK seeks to keep lead in fuel cell technology
Financial Times
Britain is staking its claim to lead the race to find a carbon-free car engine by bringing two innovative hydrogen power companies together.
http://jlne.ws/xIxfcP

Firms urged to save water as South East drought declared

Business Green
ater companies have today agreed to step up efforts to limit the effects of a looming “super-drought” across three UK regions, following a crisis summit hosted by the Department of Environment, Food and Rural Affairs (Defra).
http://jlne.ws/xBoFXC

Mainstream, Goldwind to build 70 MW Chile wind farm
Reuters
Ireland’s Mainstream Renewable Power and Chinese wind turbine maker Xinjiang Goldwind Science & Technology Co. have formed a 50-50 joint venture to build a 70 megawatt wind farm in Chile, the firms said on Monday.
http://jlne.ws/ygh0Xz
**repeats in Latin America

E.ON in talks over offshore wind park stakes-paper

Reuters
German utility E.ON is willing to sell minority stakes in its offshore wind parks and is holding preliminary talks with interested parties, a German newspaper quoted the head of its renewable operations as saying.
http://jlne.ws/z6SZuk

Asia

Coal Boom Continues Despite Carbon Tax
SMH
The impending carbon price has done nothing to deter investment in the coal industry, with spending on exploration surging faster than any other mineral commodity.
http://jlne.ws/xpAbZW

Gillard Stops Short of Party Vote Amid Australia Labor Woes
Businessweek
Australian Prime Minister Julia Gillard and predecessor Kevin Rudd failed to quash speculation they will face off in a party leadership contest, raising the prospect of a prolonged showdown.
http://jlne.ws/wjHQ2z

Australian PM urged to sack minister, end leadership crisis
Reuters
Australian Prime Minister Julia Gillard should sack her foreign minister, who she toppled to be premier in 2010, and end a bitter leadership crisis that threatens her minority government and is repelling voters, a senior minister said on Monday.
http://jlne.ws/AnWtL6
**repeats in Leads

India May Levy 19% Import Tax on Power Gear Including From China
Bloomberg
India’s cabinet is likely to approve a proposal to impose a 19 percent duty on imports of power generation equipment to help local manufacturers Bharat Heavy Electricals Ltd. (BHEL) and Larsen & Toubro Ltd. (LT) compete for orders with Chinese rivals, according to a government official.
http://jlne.ws/wHQlwm
**repeats in Leads

Africa/Middle East

S. Africa sees $258 mln ethanol plant by 2014
Reuters
South Africa plans to invest 2 billion rand ($258.5 million) to build an ethanol plant and help a nascent biofuels sector that could reduce the country’s reliance on imported fuel, an industry player said on Monday.
http://jlne.ws/y9QIIs

Kenya’s Kengen to raise $12 billion for new plants

Reuters
Kenya Electricity Generating Company (KenGen) said on Monday it planned to raise $12 billion to build six geothermal power plants that should generate 585 megawatts by 2016, as it pushes to diversify its power sources.
http://jlne.ws/xLZEej

Latin America

Botched emerging market deals reveal first cracks
Reuters
In a sign of how the new issuance frenzy has got ahead itself, a number of high-yield and borderline investment-grade transactions across the emerging markets ran into difficulties in the past week, with deals canned or underperforming in the secondary market.
http://jlne.ws/w0pn8k

Mainstream, Goldwind to build 70 MW Chile wind farm
Reuters
Ireland’s Mainstream Renewable Power and Chinese wind turbine maker Xinjiang Goldwind Science & Technology Co. have formed a 50-50 joint venture to build a 70 megawatt wind farm in Chile, the firms said on Monday.
http://jlne.ws/ygh0Xz
**repeats in Europe

Mexican minister urges passage of climate law

Point Carbon
Mexico’s environment minister said he is optimistic the country’s Congress will pass climate change legislation this spring regardless of who will be the next president.
http://jlne.ws/wBQIc7

Pin It on Pinterest

Share This Story