This edition of EMN features the Brazilian perspective on cap and trade and a UN warning to Asia’s giant cities over carbon emissions. Another report warns on water shortages eventually crippling areas of US, China, India and elsewhere. In the natural gas arena, Australia’s shale ambitions and the U.S. supply glut are covered.

Quote of the Day:

“We spend most of our days talking about cap and trade in Brazil. We need some conditions to do it, such as carbon inventories, which help to create the demand for credits. Nobody wants to be on the demand side. Everybody wants to sell. If there’s no demand there’ll be no market. But I believe in the next eight years in Brazil, we’re going to develop a huge cap-and-trade market for carbon.”

-Mario Monzoni, founder and director of sustainability studies at Brazil’s FGV School of Economics, in Business Green’s “Brazil’s economists predict ‘huge’ growth of carbon markets”

Lead Stories

Brazil’s economists predict ‘huge’ growth of carbon markets
Business Green
Brazil’s new carbon market could experience “huge” growth in the next eight years, as the government seeks to curb emissions from deforestation and industry.
http://jlne.ws/KivvOq

UN warns Asia’s giant cities over carbon emissions
The Sydney Morning Herald
The United Nations has delivered a stark warning that Asian mega-cities can no longer develop first and rein in carbon emissions later.
http://jlne.ws/JbTBWR

THE REPORT:
UNDP
http://jlne.ws/JbTBWR

EU’s Hedegaard Says CO2 Auctions Review Is Short-Term Fix
Bloomberg
The European Union’s planned measure to delay some carbon auctions is a short-term tool to tackle oversupply and will be followed by talks on further steps to bolster the bloc’s climate policies, the EU climate chief said.
http://jlne.ws/KeCp4J

Germany to Cut Free EU Carbon Permits by 56% Starting Next Year
Bloomberg
Germany, which plans to sell more European Union carbon allowances starting next year, will give 56 percent fewer away, according to figures from the federal environment agency Umweltbundesamt.
http://jlne.ws/KidgsE

ETS changes inevitable as scheme matures, Groser says
The National Business Review (New Zealand)
Incremental change to the emissions trading scheme is inevitable, especially as global consensus on climate change action emerges and New Zealand’s carbon-pricing system is tweaked to adapt, climate change minister Tim Groser says.
http://jlne.ws/Jy9slG

Emergence of Asian-Pacific emissions trading hub
The Korea Herald
On May 2, the South Korean National Assembly passed a law introducing a national carbon trading scheme by 2015. This is a truly significant moment not only in terms of Korea’s national efforts to tackle climate change, but also because it underlines the emergence of a nascent Asian-Pacific carbon emissions trading hub with the potential to be a tipping point in the global fight against climate change.
http://jlne.ws/K8Ea1I

Rule Rewrite Will Cut Coal’s Emission Credits, CDM-Watch Says
Bloomberg
A rewrite of rules that determine how many United Nations emission credits can be claimed by efficient coal power stations will probably cut the volume of supply, said CDM-Watch, the Bonn environmental lobby group.
http://jlne.ws/KkyhUQ

Water shortages could cripple areas of US, China, and India
Business Green
Extreme water stress in areas of the US, China, and India could undermine economic growth by constraining business activities and hampering agriculture, a new report warns today.
http://jlne.ws/MaGZ8J

THE REPORT:
Unsustainable water use threatens agriculture, business and populations in China, India, Pakistan, South Africa and USA – global study
Maplecroft
http://jlne.ws/J3kUbb

Shale May Double Australia’s Gas Resources, Ferguson Says
Bloomberg
Australia is likely to possess vast areas of shale that may double the country’s gas resources, according to a report released today by Resources and Energy Minister Martin Ferguson.
http://jlne.ws/KD1WqD

For Natural Gas, End to Wishful Thinking
Wall Street Journal
Viewed from space, parts of North America probably resemble a pincushion these days. Rarely have there been as many drilling rigs poking holes in the ground to pump out hydrocarbons. But the furious activity doesn’t have to be all bad for prices in the glutted natural-gas market.
http://jlne.ws/JakFwk

Carbon farming pioneer leads the way again
Press Release
Not-for-profit organisation, Greenfleet, has successfully registered the FIRST Carbon Sequestration and Forestry Right and Forest Carbon Right on title under the Climate Change Act 2011 (VIC).
http://jlne.ws/Ja5tiI

US

Hoeven predicts highway bill by June 30, with Keystone included
The Hill’s E2 Wire
Sen. John Hoeven (R-N.D.) predicts that the House and Senate will agree on a long-term surface transportation bill by June 30, when current funding runs out.
http://jlne.ws/KZDbaV
**repeats in Canada

Pickens Says He’s Sold Off Holdings of Chesapeake Energy
Bloomberg
T. Boone Pickens, the billionaire energy investor, said he’s sold off his shares in Chesapeake Energy Corp. (CHK), his third-biggest stock holding at year-end.“We do not own Chesapeake stock,” Pickens said yesterday at the SkyBridge Alternatives Conference in Las Vegas. “We didn’t like natural gas.”
http://jlne.ws/IPr0IG

Icahn Expected to Disclose Stake in Chesapeake
Wall Street Journal
Chesapeake Energy Corp. CHK -13.80% is expecting activist investor Carl Icahn to disclose soon that he has taken a significant stake in the embattled natural-gas company, according to people familiar with the matter.
http://jlne.ws/IPs1k1

Obama campaign adds ‘clean coal’ to website after GOP complaints
The Hill’s E2 Wire
The Obama campaign added a section on “clean coal” to its website this week after House Republicans alleged that the president’s “all-of-the-above” energy plan neglected the fossil fuel.
http://jlne.ws/KZDMJL

House GOP issues second subpoena over planned coal-mining rules
The Hill’s E2 Wire
House Natural Resources Committee Chairman Doc Hastings (R-Wash.) subpoenaed the Interior Department for a second time Friday over planned regulations aimed at curbing environmental damage from Appalachian coal mining.
http://jlne.ws/JoN8OA

Midwest Sees a Sand Rush
Wall Street Journal
Scouts armed with geological maps and elevations from Google Earth are knocking on doors in the upper Midwest in search of what seems too common to mine: sand.
http://jlne.ws/JbRIcR

Canada

Commentary: Canada and climate change: all plan, no action
Globe and Mail
Canada, you might be surprised to hear, is a world leader in climate change.Canada leads the world in presenting plans for reducing greenhouse gas emissions, and Canada leads the world in the size of the gap between plans and deeds.
http://jlne.ws/JKcmlC

Hoeven predicts highway bill by June 30, with Keystone included
The Hill’s E2 Wire
Sen. John Hoeven (R-N.D.) predicts that the House and Senate will agree on a long-term surface transportation bill by June 30, when current funding runs out.
http://jlne.ws/KZDbaV
**repeats in US

LNG plans may alter B.C.’s climate-change goals
Globe and Mail
B.C. Premier Christy Clark is prepared to alter her government’s strict climate-change targets to pave the way for her plan to create a liquefied natural gas industry in the province.
http://jlne.ws/Jt5WJZ

Analysis – Canada may seek to silence some foes of new pipeline
Reuters
Some opponents of the proposed C$5.5 billion (3.4 billion pounds) Northern Gateway oil pipeline to Canada’s Pacific Coast may not get a chance to be heard as scheduled by the regulatory panel looking at the plan because of federal government moves to streamline the country’s environmental review process.
http://jlne.ws/MayIBG

Europe

Carbon trading: Emissions law bears down on small operators
Financial Times
The EU’s emissions trading scheme, linchpin of the bloc’s plan to lead the world in the fight against global warming, has proven about as popular among large airlines as a flock of geese on a busy runway.
http://jlne.ws/KeFlhW

Germany Delays Solar Subsidy Cut in Blow to Angela Merkel
Bloomberg
Germany’s upper house voted to renegotiate a bill backed by Chancellor Angela Merkel that would cut subsidies for solar power after state leaders from her own party said the plan would threaten jobs.
http://jlne.ws/ISJxT3

ERG to exit coastal refining, expand green energy
Reuters
Italian energy group ERG is on track to exit the coastal refining business, reducing its exposure to a weak oil refining sector, and will instead expand in renewable energy, its top managers said on Friday.
http://jlne.ws/KZRK8h

Asia

Japan’s Inpex to Boost Energy Exploration
Wall Street Journal
Inpex Corp. plans to double its investment in energy exploration to 300 billion yen ($3.75 billion) over the next five years to meet Japan’s rising demand for fossil fuel in the aftermath of last year’s Fukushima Daiichi nuclear accident.
http://jlne.ws/KVz8XA

China can achieve this year’s development goals’
Zee News
China has the confidence, conditions and capabilities to achieve this year’s development goals, Premier Wen Jiabao said on Sunday at a trilateral business summit between China, Japan and South Korea.
http://jlne.ws/KkLX28

Commentary: Recycled water could have stopped Brisbane floods
ABC
WHEN AUSTRALIA SUFFERED through the drought of the last decade, there were fears we’d run out of water. As year after year registered below average rainfall, people began to talk seriously about recycling our sewage to use as drinking water.
http://jlne.ws/KDvEeW

Africa/Middle East

Saudi Arabia Plans $109 Billion Boost for Solar Power
Bloomberg
Saudi Arabia is seeking investors for a $109 billion plan to create a solar industry that generates a third of the nation’s electricity by 2032, according to officials at the agency developing the plan.
http://jlne.ws/JFjRuF

Latin America

Push for Ethanol Sours in Brazil Amid Low Sugar Prices
Wall Street Journal
Sugar prices near 20-month lows have raised questions over Brazil’s future as a leader in both the sugar and ethanol industries.
http://jlne.ws/KDpVFV

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