Quote of the Day

“We were a founding signatory because we believe that the external costs of GHG emissions will become internalised into company cash flows and profitability. Managing GHG emissions is therefore essential to delivering sustainable shareholder returns.”

Aviva Investors CEO Paul Abberley in Environmental Finance’s “Support Doubles for CDP Carbon Action Initiative”


Lead Stories

China Would Regulate UN Carbon Credits at Home, Exchange Says
Bloomberg
China probably won’t allow United Nations carbon credits in its cap-and-trade program unless they are approved by a domestic regulator, according to an official at the Shanghai Environment & Energy Exchange.
http://jlne.ws/yH1IAh
**RKB — The official explains: It will be something like a local version of the United Nations Executive Board, which oversees the Clean Developments Mechanism, known as the CDM. Projects approved under the CDM will be easier to be used as domestic offsets, but they will still need to go through the local process.
**JK – Bureaucracy, meet more bureaucracy.

Canada threatens EU with trade complaint over labeling of oil sands as dirty oil
AP
Canada has threatened to take Europe to the World Trade Organization if it singles out the country’s oil sands as dirty oil, but officials said Tuesday such action wouldn’t affect free trade negotiations with the European Union.
http://jlne.ws/yXpmEf
**repeats in Canada

EU oilsands policy could spark trade complaint
CBC News
Canada has threatened the European Union with action at the World Trade Organization if the bloc’s plan to classify oilsands crude as more harmful to the environment than other fuels goes ahead.
http://jlne.ws/wEwP39

European Carbon Permit Price Rally ‘Won’t Last,’ UBS Says

Bloomberg
The current rally in European Union carbon permits will come to an end in April, said UBS AG. (UBSN). The “carbon crash” will continue because the market is oversupplied by 2 billion metric tons and companies may sell allowances once they realize how few they need, Per Lekander, an analyst at the bank in Paris, said today by e-mail. “Enjoy the carbon rally while it lasts – it won’t,” he said yesterday in a research note.
http://jlne.ws/wUFGoZ

Russia Says EU Carbon Trading Rules for Foreign Airlines Are ‘Premature’

Bloomberg
The extension of the European Union’s emissions trading system to international airlines is “premature” and could lead to higher ticket prices and a slump in demand for flights, according to Russia’s government.
http://jlne.ws/yP6vI5

Dubai Airline Plans To Offset EU Carbon Tax
Tax News
Dubai-based Etihad Airways has plans to increase the fuel surcharge on flights to Europe in an attempt to minimise the damage caused by the EU’s new carbon tax.
http://jlne.ws/zJYdmn
**repeats in Africa/Middle East

Support doubles for CDP Carbon Action initiative

Environmental Finance
Ninety-two banks and investors have put their names to a call to 415 companies to manage and reduce their greenhouse gas (GHG) emissions.
http://jlne.ws/yBUZkF

German Offshore Wind Energy Delays Threaten Energy-Plan Overhaul
Bloomberg
Germany’s offshore wind parks, being built to replace most of the nuclear reactors closing in the next decade, are headed to miss construction targets because of delays in connecting turbines to the power grid.
http://jlne.ws/yUW77Z

Scientist admits he leaked internal documents from climate-skeptic group
The Hill’s E2 Wire
A researcher who advocates for battling global warming has admitted to using deceptive tactics to obtain internal strategy and budget documents from the Heartland Institute, a free-market group that rejects mainstream climate science.
http://jlne.ws/y4xes2

Heartland Institute leak exposes strategies of climate attack machine
Guardian
After the leak from the Chicago-based thinkthank the Heartland Institute, much attention is now being focused on the alleged deception used by the water scientist Peter Gleick to obtain the sensitive internal documents.
http://jlne.ws/zceOyO

The Quest for ‘Hydricity’
The New York Times
In the 1980s and ’90s, hydrogen fuel cell technology seemed like a strong candidate for use in cars and stationary applications, converting hydrogen to electricity with no emissions beyond a puff of antiseptic water vapor.
http://jlne.ws/yZDQYA

Drylands: The Unappreciated Ecosystem

Ecosystem Marketplace
Drylands cover two-fifths of the Earth’s land and are home to 2.3 billion people worldwide. They are highly unpredictable ecosystems, characterized by low, erratic rainfall and high inter-annual climatic variability. Pastoralism, agro-pastoralism and rain-fed agriculture are the dominant land uses and livelihood systems, and many drylands support vibrant economies of adjacent communities and environments and provide opportunities for trade, tourism, migration and environmental services such as carbon sequestration.
http://jlne.ws/zMKNLE

Coal worse than oil sands: study
Postmedia News
Coal — not oil sands — is the largest threat to the world’s climate. Still, that’s no reason to endorse the Keystone XL or Northern Gateway pipelines, say two Canadian climate experts in a provocative study released on the weekend.
http://jlne.ws/wv6Eng

US

Canada’s Fortis to Buy New York Utility
Wall Street Journal
Fortis Inc. agreed to buy New York utility CH Energy Group Inc. for about $1 billion in cash, giving the Newfoundland-based utility entry into the U.S. regulated electric and gas-distribution market.
http://jlne.ws/w7CTXp
**repeats in Canada

Anadarko’s CEO to Step Down in May

Wall Street Journal
Anadarko Petroleum Corp. Chief Executive Jim Hackett plans to step down in May and will be succeeded by Chief Operating Officer Al Walker.
http://jlne.ws/wWcVVz

Williams Partners, Cabot Oil Join on Gas Pipeline

Wall Street Journal
Williams Partners LP and Cabot Oil & Gas Corp. disclosed plans to partner on a new pipeline that will transport Cabot’s natural-gas production to New England and New York markets.
http://jlne.ws/zTWfZZ

U.S. in Accord With Mexico on Drilling

The New York Times
The United States and Mexico reached agreement on Monday on regulating oil and gas development along their maritime border in the Gulf of Mexico, ending years of negotiations and potentially opening more than a million acres to deepwater drilling.
http://jlne.ws/xlyN7B

Canada

Canada’s Fortis to Buy New York Utility
Wall Street Journal
Fortis Inc. agreed to buy New York utility CH Energy Group Inc. for about $1 billion in cash, giving the Newfoundland-based utility entry into the U.S. regulated electric and gas-distribution market.
http://jlne.ws/w7CTXp
**repeats in US

Canada threatens EU with trade complaint over labeling of oil sands as dirty oil
AP
Canada has threatened to take Europe to the World Trade Organization if it singles out the country’s oil sands as dirty oil, but officials said Tuesday such action wouldn’t affect free trade negotiations with the European Union.
http://jlne.ws/yXpmEf
**repeats in Leads

Europe

Vitol makes CO2 trading push in 2011
Point Carbon
Swiss trading house Vitol Group traded 71 million tonnes of carbon in 2011, up 31 percent from the previous year, the company said on Tuesday.
http://jlne.ws/zu1t9m

U.K. Seeks Permission From Supreme Court to Appeal Solar Ruling
Bloomberg
The U.K. government said today it’s seeking permission from the Supreme Court to appeal against decisions by two lower courts that its planned early cuts to solar subsidies are unlawful.
http://jlne.ws/wcLxHc

Drax Plans to Spend $1.1 Billion on Biomass to Cut Emissions

Bloomberg
Drax Group Plc (DRX) plans to invest as much as 700 million pounds ($1.1 billion) to burn more biomass at its coal-fired power plant, the U.K.’s largest, and meet emissions standards, Chief Executive Dorothy Thompson said.
http://jlne.ws/xpzw0G

Dominant shareholders create case for danger money
Financial Times
Poor Bob Ivell. The Mitchells & Butlers chairman appears to be struggling to attract a high-calibre chief executive to the boardroom of the pubs group. It could be for the same reason that package holidays to Honduras have not taken off. The destination is too dangerous. The hands-on style of dominant shareholder Joe Lewis has elevated the body count at the Brummie taverns chain to levels Quentin Tarantino would blench at. Mr Ivell is himself M&B’s sixth chairman in two years.
http://jlne.ws/z7Q6z4

Asia

Bharat Heavy Gains as India Plans Power Import Tax: Mumbai Mover

Bloomberg
Bharat Heavy Electricals Ltd. (BHEL), India’s biggest power equipment maker, was set to climb to a three-month high on expectations the government will increase duty on imports to help it compete with overseas rivals.
http://jlne.ws/wHQlwm

Coal to India Beating China on Singh Diktat

Bloomberg
India is poised to surpass China as the world’s biggest thermal coal importer as Prime Minister Manhoman Singh seeks supplies for power makers that have halted plans for $36 billion of new plants because of a fuel shortage.
http://jlne.ws/wd36Bq

Australia cuts carbon emissions 1 pct

Point Carbon
Australia’s greenhouse gas emissions in the 12 months to September 2011 fell 1 percent year-on-year to 539.8 million tonnes of CO2 equivalent, according to government data.
http://jlne.ws/zGhx4L

MP pressured wind farm developer

The Age
A PROMINENT state Liberal MP has been accused of misusing his position while campaigning against a wind farm that is to be built next to his property in western Victoria.
http://jlne.ws/AbvdeM


Africa/Middle East

Dubai Airline Plans To Offset EU Carbon Tax
Tax News
Dubai-based Etihad Airways has plans to increase the fuel surcharge on flights to Europe in an attempt to minimise the damage caused by the EU’s new carbon tax.
http://jlne.ws/zJYdmn
**repeats in Leads

BLME Signs Islamic Banking Deal With Global Marine for Wind
Bloomberg
Bank of London and The Middle East Plc, the London-based Islamic bank, signed a 14 million-pound ($22 million) deal to help Global Marine Systems Ltd. buy a vessel to install subsea power cables at offshore wind farms.
http://jlne.ws/yc9dyt

Madagascar Water, Energy Tariffs to Rise by 25%, l’Express Says
Bloomberg
Madagascar plans to increase water and electricity costs by as much as 25 percent, Antananarivo- based l’Express de Madagascar reported, citing government officials it didn’t identify.
http://jlne.ws/z3vs6h

Latin America


IDB lends $100m to Itaú for climate projects

Environmental Finance
The Inter-American Development Bank (IDB) is lending $100 million to Brazilian bank Itaú BBA to help finance “environmentally friendly” projects in Latin America.
http://jlne.ws/A2RlHj

Latin American bank approves $100 mln loan for green projects
Point Carbon
The Inter American Development Bank (IDB) has loaned $100 million to Brazilian bank Itau to help it finance clean energy and energy efficiency projects in six South American countries.
http://jlne.ws/wh1ABR

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