Quote of the Day

“We want to make sure that we drive continued diversity in our energy sources, and allow every region to deploy clean energy using its own resources. And we want to make sure that we do all of this in a way that supports home-grown innovation and manufacturing and keeps us competitive in the global clean energy economy.”

Sen. Jeff Bingaman in The State Journal’s article “Federal clean energy standard introduced in Senate.”

Lead Stories

GreenX To Launch European Union Aviation Allowance (EUAA) Futures Contract
Press Release
GreenX today announced, pending all relevant CFTC regulatory review periods, its intention to list futures contracts on European Union Aviation Allowances (EUAAs) for trade date April 2, 2012. The contract will serve as a compliance and risk management tool for the aviation sector, included in the EU Emissions Trading Scheme from 2012.

ICE Announces March 19 Launch of 28 New Cleared OTC Contracts
Press Releases
IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced the launch of 28 new cleared OTC contracts for natural gas liquids, North American natural gas, North American power, crude and refined petroleum products.

EEX is awarded Contract for the Transitory Auction Platform for Germany
Press Release
The European Energy Exchange (EEX) has won the tendering procedure for the transitory auctioning platform for the EU Emission Allowances (EUA) auctioned off by Germany for the third emissions trading period. On 27 February 2012, the Federal Environment Agency awarded EEX the contract.

Governments embrace carbon voluntary market: report
A growing number of national and regional governments are likely to use voluntary carbon credits to meet mandatory climate targets, a report by U.S. research company Ecosystem Marketplace said on Thursday.

New Carbon Markets Combine Best of Public And Private Initiatives
Three of the programs she profiled are in the US states of Oklahoma, California, and Oregon. The others are a combination of national and sub-national initiatives across Latin America, Europe, and Asia, and all have one thing in common: they aim to incubate and incentivize solutions that suit their own local economies and philosophies.
**JK – Words from Ecosystem MarketPlace’s Steve Zwick on the study.

Bringing It Home: Taking Stock of Government Engagement with the Voluntary Carbon Market
Ecosystem Marketplace

House votes to repeal Fla. cap & trade energy law
A cap and trade law to control power plant emissions that was never implemented would be repealed by a bill that has cleared the Florida House.

UN support for soil carbon
Stock & Land
THE United Nations has thrown its support behind soil carbon, but Australian attempts to create a market mechanism to reward the building of soil carbon reserves are still mired in complexity.
The United Nations Environment Program’s (UNEP) 2012 yearbook stated building the world’s soil carbon stocks was an urgent necessity.
**JK – The ole soil sequestration problem.

EU carbon rebounds 2 percent after steep losses
European carbon prices rebounded nearly 2 percent on Thursday after posting steep losses in the previous two sessions and notching a new 10-day low shortly after market open.

Carbon prices: Breathing difficulties
The Economist
THE European Union’s Emissions Trading System (ETS), the world’s biggest carbon market, has two main aims. One is to restrict the carbon-dioxide emissions of the 11,000 companies trading on it to an agreed cap. The other is to give these firms an incentive to invest in clean technology. On the first count, thanks to the economic malaise, the ETS is a success: its participants’ emissions are well below the current cap. On the second, for the same reason, it is failing wretchedly. Oversupplied with permits, the market has tanked. Having reached nearly 30 ($47) euros a tonne in 2008, the carbon price is now persistently under 10 euros: much too low to prod firms to make their investment plans greener.

Federal clean energy standard introduced in Senate
The State Journal
A bill ordering a federal focus on “clean energy,” including coal that utilizes carbon capture technology, has been introduced in the U.S. Senate.
Sen. Jeff Bingaman, D-N.M., chairman of the Senate Energy and Natural Resources committee, introduced the Clean Energy Standard Act of 2012 Thursday. The legislation sets a clean energy goal for the nation that allows various energy sources to “compete based on how clean they are, then gets out of the way and lets the market and American ingenuity determine the best paths forward.”

Clean Energy Standard Would Power U.S. With 84% Low Carbon Energy by 2035
Renewable energy standards (RES) are considered one of the least offensive climate policy platforms. They’re pretty straightforward: they require utilities to produce a given percentage of their power from clean sources—this typically means solar, wind, geothermal, hydro, and biomass, and not nuclear. Many U.S. states have enacted their own RES policies, with benchmarks ranging from 10-40% (here’s a list of all the states’ RES commitments as of this time last year).

Bank of England to discuss carbon ‘bubble’ with investors
Environmental Finance
The Bank of England has agreed to a meet investors and lobby groups next month to discuss whether climate change poses a systemic risk to capital markets.
The same group is now pressing Mario Draghi, president of the European Central Bank, to consider the issue.

Natural Resources and the Environment
A comprehensive new review of research on episodes of carbon-driven disruption of ocean and climate conditions over the last 300 million years shows the power of a big pulse of carbon dioxide to profoundly affect the environment.
The review, which is being published in the journal Science on Friday, concludes that the human-driven buildup of carbon dioxide under way now appears to be far outpacing past natural events, meaning that, for ocean chemistry particularly, the biological implications are potentially enormous — and laden with the kind of uncertainty that is hard to see as a source of comfort.


Michael Dobson: Florida must get serious about renewable energy
A year later and with only days left in the 2012 session, Florida may once again try to pass a renewable energy bill that will not produce renewable energy. Florida’s HB 7117 and SB 2094 have proven just that, to even include Tea Party rallies in opposition.

What’s Good for the Lease is Good for the Lender
Renewable Energy News Article
A National Renewable Energy Laboratory (NREL) study out last month found that solar lease models are surging in southern California. Press reports point to similar trends in other states, and last summer three U.S. Senators introduced the Renewable Energy Access through Leasing Act to enlist the U.S. Department of Energy to support the creation of a stable market for renewable energy system leases to residential customers. NREL study author Easan Drury said, “What is so interesting about the southern California data is that the strong decrease in PV prices – from lower retail costs and stronger federal incentives – didn’t pick up a new demographic. But the new business model – leasing – did pick up a new customer demographic.

Geothermal Energy Association releases 2012 Policy Priorities
Secure Longer Term Tax Incentives to Promote Geothermal Energy Development and Industry Stability
Extend the renewable energy tax credit placed-in-service deadline for new geothermal projects to December 31, 2016 to provide parity with solar projects.
Support enactment of a long-term geothermal tax credit extension with access to master-limited partnerships (MLPs) or other means to foster monetization of tax credits.

PacifiCorp anounces big Lakeview solar project
Sustainable Business Oregon
PacifiCorp announced Thursday it will develop a huge 2-megawatt solar array in Lake County, a move that will further cement the eastern Oregon region’s reputation as the state’s center for large-scale renewable energy projects.

Sutherland Energy Trading Practice Continues Growth; Adds Partner Steven H. Scheinman in New York
Press Release
Sutherland Asbill & Brennan LLP is pleased to announce that Steven H. Scheinman has joined the firm as a partner in the Energy and Environmental Practice Group in New York.

GE solar investments top $1.4bn in the last year
A GE subsidiary has bought a $100m stake in a 127MW US solar project, taking the company’s investment in the sector to $1.4bn in the past year.


Canada oil-sands firms to share green technology
A dozen of the largest Canadian oil-sands producers agreed Thursday to share funding for environmental research, saying pooling their resources will speed the creation of new technologies to reduce the negative effects of oil-sands development.

Canada’s oilsands producers team up to share know-how on environment
Yahoo! Finance Canada
A dozen of Canada’s biggest oilsands companies said Thursday they will share their environmental know-how with one another, breaking down barriers that have slowed improvement on that front.


UK starts to issue free CO2 permits to airlines
Britain has allocated less than one percent of the 56.7 million European Union carbon permits it expects to issue this year to airlines taking part in the EU Emissions Trading Scheme, the Department of Energy and Climate Change said on Thursday.

Ofgem outlines plan to build cheaper offshore wind grid links
The government’s goal of cutting the cost of offshore wind energy to £100 per mega watt hour has moved significantly closer, after energy regulator Ofgem released a series of proposals on how to deliver a cheaper and more efficient offshore energy grid.

FTSE launches new carbon indexes
Environmental Finance
Index provider FTSE has launched four carbon indexes to help investors reduce long-term climate change risks.

ICAP acquires biofuels broker
Environmental Finance
ICAP Energy will launch its first services in the European alternative fuels market after acquiring biofuels broker Sun Commodities for an undisclosed sum.


China-Backed HK Airlines May Cancel A380 Order
Hong Kong Airlines, backed by China’s fourth-largest carrier Hainan Airlines, has threatened to cancel an aircraft order with Airbus, underlining growing tensions between China and the European Union over the EU’s emissions trading scheme, a local newspaper reported.

India Supreme Court Again Pushes National River Linking Project to Proceed
Circle of Blue WaterNews
On Monday, a three-judge panel from India’s highest court ordered that the government proceed “in a time-bound manner” with a project that attempts to mitigate the effects of drought and climate change by connecting rivers in the country’s north to those in the south, according to the BBC.

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