Quote of the Day

“U.S. property and casualty insurers, who are on the front line on this issue, saw catastrophe-related losses double in ’11, while their net income was cut in half.”

Cynthia McHale, insurance program director at Ceres in Reuters’ piece “Plan now for climate-related disasters – U.N. report.”

Lead Stories

More government intervention in carbon markets

Commodities Now
Carbon Market Survey: For the first time since it was carried out in 2005, the results of Thomson Reuters Point Carbon‟s annual carbon market survey provides a convincing argument for those inclined towards market intervention in the EU ETS. Unlike in previous years, respondents to the survey – Carbon 2012 – said that emitters within the EU‟s Emissions Trading Scheme (ETS) view the cost of carbon as less decisive in investment decisions, and fewer report that the EU ETS has caused emission reductions. Fewer respondents saw the EU ETS as a cost-effective way to reduce emissions this year than last and the share of respondents who think the EU ETS is mature was flat, putting an end to an upward trend seen since 2007.

New technologies: Carbon capture dogged by volatile history
FT.com
If there was a prize for false starts, dashed hopes and failed promises, the carbon capture and storage industry would be a strong contender.
**JK – A good look at the CCS mirage.

Editorial: Dethroning King Coal is not enough

FT
The US Environmental Protection Agency’s decision to subject new power plants to strict carbon emissions ceilings is not a sign of the Obama administration’s determination to fight climate change but a reflection of the White House’s political failure to develop and defend a serious climate policy.
http://jlne.ws/GXZd6F

Obama Power-Plant Rule Signals Demise of ‘Old King Coal’

Bloomberg
President Barack Obama’s proposed carbon-dioxide rules for power plants effectively prohibit new coal power plants, buttressing a shift away from a power source that fueled the Industrial Revolution to cheap natural gas.
http://jlne.ws/H1Qzms

How Capturing CO2 from the Air Can Help Save the Planet

3P

Kilimanjaro Energy is the industry pioneer. Launched in 2004 by Klaus Lackner, a Columbia University physicist who first wrote about air capture of CO2 in a 1999 paper [PDF, download], the company got started with an $8 million investment from the late Gary Comer, the founder of Land’s End, who grew worried about climate change after he sailed his yacht through the normally ice-bound Northwest Passage.
**JK – A look at what else is out there in CCS.

A new era for carbon, but clouds loom

FT.com
At a time when policy makers are focused on the need to combat climate change and promote investment in renewable sources of energy, fossil fuels are refusing to co-operate.
http://jlne.ws/HhRhOn
**JK – A look at the boom in oil and coal.

China Beats U.S. With Power From Coal Processing Trapping Carbon
Bloomberg
After studying chemistry at Shanghai’s Fudan University, Jane Chuan and Wang Youqi pursued doctorates in the U.S. She got hers from what’s now the University of Buffalo in 1988, the year they married. Wang graduated in 1994 from the California Institute of Technology.
http://jlne.ws/HgSfc4

Sprawling cities pressure environment

ABC Science
More 70 per cent of current human-induced carbon dioxide emissions already come from cities. Urban emissions are forecast to grow to 36.5 billion metric tonnes by 2030 if no action is taken, from 25 billion in 2010 and 15 billion in 1990.
**JK – Interesting forecast of urban growth and its impact

US airlines drop case against EU carbon laws
Business Green
US airlines have dropped a lawsuit against an EU law that charges carriers for emitting CO2 during flights in and out of Europe, although green campaigners have warned the fight to uphold the regulations may be far from over.
http://jlne.ws/Hp1VmX

Groundbreaking Mexican Climate Change Law up for vote
WWF
WWF is urging Mexico’s Congress to approve the country´s proposed National Climate Change Law, which could position Mexico at the forefront of the fight against climate change, help create green markets and jobs, and improve the competitiveness of its industrial sector.
http://jlne.ws/GXBzLr

Plan now for climate-related disasters – U.N. report
Reuters
But the report sidestepped the politically divisive issue of tougher action on curbing greenhouse gas emissions blamed for stoking global warming. U.N. climate talks have become bogged down over who should take most responsibility for action. Instead, it aimed to push adaptation to a warmer world, offering a range of strategies.
Chris Field, a lead editor of the document, acknowledged this is a change from previous IPCC reports, which largely focused on plans to mitigate climate change by limiting heat-trapping greenhouse gas emissions.

Climate change to drive weather disasters: UN experts

AFP
Since the 1950s, record-breaking daily temperatures and heatwaves have become more frequent or lasted longer, according to strong evidence. There is a 90-100 percent probability that this will continue through the 21st century.
http://jlne.ws/Hi4D0A

US

GE gas turbines operate 2 million hours on low carbon fuels
Press Release
GE’s fleet of 47 heavy duty gas turbines operating on low British thermal unit fuels has accumulated more than 2 million fired hours, an operational milestone that underscores GE’s commitment to developing specialized solutions that meet the demands of today’s evolving energy industry. Low BTU, or low calorific value fuels have less heating values than natural gas. Examples include syngas, steel mill gases and dilute natural gas. These fuels are lighter than natural gas and have less energy per unit volume.


Solyndra Gave Accurate Description, Restructuring Officer Says

Bloomberg
Solyndra LLC (SOLY), the solar-panel maker that received a $535 million U.S. Department of Energy loan guarantee, conveyed accurate information about its finances to the government before the company failed, its chief restructuring officer said in a report.
http://jlne.ws/GYTYJu

SolarWorld U.S. Head Says Final China Tariffs Will Be Higher

Bloomberg
Final U.S. tariffs for Chinese solar-energy equipment makers will be higher than the preliminary levies of as much as 4.73 percent imposed last week, said Gordon Brinser, president of SolarWorld AG (SWV)’s U.S. unit.
http://jlne.ws/HfOt92

Canada

Canada: Alberta provincial government to collect 1.2 trillion in royalties from oil sands over 35 years

AllVoices

The province should be able to have budget surpluses and low taxes. The Institute predicts that oil production will rise from the present 1.6 million barrels a day to 5.4 million barrels a day by 2045. The report of the Institute notes:“While technological innovation within the oil sands industry (in addition to carbon capture and storage) is expected to help reduce these emissions, the emissions are still expected to rise,” Carbon emissions are projected to increase from 45 million tonnes annually to 159 million tonnes by 2045.

Redford pledges $3-billion in oil-sands environmental research
CTV News
Now that the sector has hit its stride, Ms. Redford has pledged what she says is the same annual cash in today’s dollars: $150-million annually over 20 years. It will both help boost the non-renewable energy industry’s environmental performance while encouraging research in new technologies, she said.

Pipeline petitioners hope to give Clark crude awakening

Vancouver Sun
Students from the University of B.C. and local high schools plan to go door to door in Christy Clark’s Vancouver-Point Grey riding Saturday in an attempt to convince the premier to oppose Enbridge’s proposed Northern Gateway pipeline
http://jlne.ws/HjHgnB

IKEA Canada Builds on Longstanding Commitment to Sustainability

MarketWatch
In Canada, IKEA is now working with paper pallets in all its stores. Paper pallets are recyclable, designed to fit IKEA products and are optimized to fit trucks and containers so that the need to ship bulky wooden pallets back and forth is eliminated. So far, the global estimate is that more than 50,000 fewer trucks a year will be on the road, resulting in lower carbon emissions.

Europe

Grid Companies Could Tap German Offshore Wind Park Aid, KfW Says
Bloomberg
Power grid companies seeking to connect planned wind parks off the German coast to the mainland may be able to tap an existing 5 billion-euro ($6.68 billion) financing facility in future, KfW Group said.
http://jlne.ws/HoXBnD

Samsung arm takes stake in UK carbon project
FT
Samsung C&T, the construction and trading arm of South Korea’s largest conglomerate, is taking its first big step into the European power market, with a 15 per cent stake in a UK carbon capture and storage project.
http://jlne.ws/Hki1S3
**repeats in Asia

How well is the UK doing in cutting its emissions?

Guardian
The 2008 Climate Change Act introduced an ambitious legally binding commitment to reduce the UK’s greenhouse gas emissions by at least 80% by 2050, relative to 1990. To put the country on the path to this long-term goal, a system of carbon budgets‘ was introduced to limit emissions in successive five-year periods. Budgets have been fixed up until the fourth, which requires a cut of 50% relative to 1990 levels in the period 2023–27.
http://jlne.ws/HhW84w

Asia

Samsung arm takes stake in UK carbon project

FT
Samsung C&T, the construction and trading arm of South Korea’s largest conglomerate, is taking its first big step into the European power market, with a 15 per cent stake in a UK carbon capture and storage project.
http://jlne.ws/Hki1S3
**repeats in Europe

LNG-Soaked Japan Burns Oil as Nuclear Reactors Sit Idle

Bloomberg
Japan is consuming the most oil in four years as it runs out of capacity to use liquefied natural gas as a stopgap for idled nuclear-power plants.
http://jlne.ws/GWCtEx

Latin America

Rio releases ETS details, sets periods for 3 phases
Point Carbon
The emissions trading system (ETS) for the state of Rio de Janeiro, Brazil’s second richest province, will have its first legally bidding period for private companies starting from 2013, people working on the design of the scheme said Wednesday.
http://jlne.ws/GY1DlO

Ecuador’s capital sets CO2 target

Point Carbon
Ecuadorian capital Quito on Tuesday said it would cut its greenhouse gas emissions to 16 percent below projected levels in 2016 and develop an offset scheme for the private sector as the local government moves to combat climate change.
http://jlne.ws/H1Szem

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