With the Lima Climate Summit entering in its week 2, today’s edition gets to the nitty-gritty of a potential accord to curb emissions. A new deal could heavily rely on existing carbon markets. Also, India will only reveal its intention in June 2015, while Australia has already received the dubious distinction of being the worst industrialized climate performer.

Quote of the day

“Some may fear that commitments that are not internationally legally-binding may lack credibility. That, in my view, is a serious mistake. The sanctions available under the Kyoto Protocol, for example, were notionally legally-binding but were simply not credible and failed to guarantee domestic implementation of commitments.”

Lord Stern, who authored the influential Stern Review on the economics of climate change, in the BusinessGreen’s story Lord Stern calls for “dynamic” international climate change treaty

Lead stories

What might carbon markets post 2020 look like? 
By Gareth Brydon Phillips  – Eco-Business
Post 2020 carbon markets are a very exciting space with much to contribute to achieving our global emission reduction targets. 
***LB: Also in this story “These are likely to undergo significant structural changes by the conclusion of the Paris climate summit in December 2015.”

At Climate Meeting, China Balks at Verifying Cuts in Carbon Emissions
By Edward Wong – The New York Times
Last week, climate change negotiators from around the world converged on Lima, Peru, with a new sense of momentum.

New Climate Deal Could Tap Existing Offset Programs
By Gloria Gonzalez – Ecosystem Marketplace  
The Clean Development Mechanism (CDM) has its share of critics and is in serious need of reform, but can still play a valuable role in supporting national climate policies and facilitating the flow of carbon finance, according to market observers.

Debate on emissions to heat up week 2 of Lima climate talks
By Sunita Narain – The Economic Times
Ministers began arriving today and more huddles are expected to break the deadlock over climate change. The most important agenda is to determine how the world will cut emissions to stay below the 2°C increase guardrail.

EU raises the pressure on COP 20 conference
As the UN Climate Conference got under way in Lima last week, the EU set out its stall with an ambitious call for “quantifiable and comparable” national commitments on the reduction of CO2 emissions; a position refuted by some developing countries, who see the odds stacked against them.

India to boost clean energy capacity 5-fold, but not ready to cut carbon emissions
Associated Press
India says it is taking bold steps against climate change with plans for a five-fold increase in renewable energy capacity. However, Environment Minister Prakash Javadekar said the country won’t act to curb carbon emissions because it first must pursue economic growth to eradicate poverty.

India to submit climate plans to United Nations by June
Urmi Goswami – The Economic Times
India has said that it will submit its plans for tackling climate change to the United Nations by June next year.

Russia, India To Expand Number of Nuclear Energy Units 
By Esther Tanquintic-Misa – International Business Times
Russia has agreed to India’s request to expand the number of nuclear energy units it is supposed to construct in the country, 20 to 24 from the initial 14 to 16 units. India made the request based on its growing energy demand.

Australia named worst-performing industrial country on climate change 
Graham Readfearn – The Guardian
Australia has been named the worst-performing industrial country in the world on climate change in a report released at international negotiations in Peru. 
***LB: Also in this story “The climate change performance index ranked Denmark as the best-performing country in the world, followed by Sweden and Britain. Among the world’s top 10 emitters, Germany was ranked the highest at 22. Australia was second bottom overall, above Saudi Arabia – which was not classified as industrial.”

Fossil fuel companies use scare tactics at UN climate negotiations
By Michael Green – The Hill
Monday marks the beginning of the final week of the United Nation climate negotiations in Lima, Peru.

Lord Stern calls for “dynamic” international climate change treaty
By James Murray – BusinessGreen
Lord Stern will  become the latest high profile figure to urge world leaders to deliver an ambitious climate change treaty at next year’s Paris Summit, while warning they should not become too hung up on ensuring the agreement is legally-binding.

Tories attacked over green infrastructure squeeze, as Miliband declares climate action a top priority
By James Murray – BusinessGreen
The UK’s main political parties clashed over climate policy this weekend, as Labour sought to highlight its commitment to climate action and the coalition came under fire for orchestrating the biggest boom in high carbon infrastructure spending in years.

Green groups hit back at BusinessEurope over attack on environmental ‘red tape’
By James Murray – BusinessGreen
Battle lines have been drawn in Brussels between the BusinessEurope industry group and Europe’s leading environmental and civil society NGOs. 


U.S. Solar Market Insight Conference
The U.S. Solar Market Insight Conference presents data, analysis and expert forecasting on the state of the solar market in the U.S.
Dec. 8 – 10, 2014
San Diego, CA

The Importance and Impact of Including Fuels and Natural Gas in California’s Cap-and-Trade Program
Climate Action Reserve
December 11, 2014 – 10:00am – 11:00am PST
Type of Event: Webinar

Defense, National Security & Climate Change Symposium
January 7-8, 2015
Marriott Wardman Park Hotel, Washington DC

2015 Climate Leadership Conference
ACCO, EPA, The Climate Registry, C2ES
February 23-25, 2015
Ritz-Carlton Pentagon City (Arlington, VA)


Standard for cities to measure and report their GHGs launched 
Commodities Now
Today the World Resources Institute (WRI), C40 Cities Climate Leadership Group (C40) and ICLEI – Local Governments for Sustainability (ICLEI) launched the first widely endorsed standard for cities to measure and report their greenhouse gas (GHG) emissions at a COP20 event featuring mayors and officials from cities around the world.

IETA: Carbon markets need to matter more in Lima 
By Jeff Swartz – RTCC (Responding to Climate Change)
The first week of the UN climate talks is always fraught with tension. This usually heightens in the second week when ministers arrive amid a scramble to walk away with something agreed.

Germany’s planned CO2 cuts to dampen demand for certificates – EU 
Germany’s new, lower targets for CO2 emissions will further curb demand for carbon permits and undermine Europe’s already dysfunctional emission trading system, the EU’s new energy commissioner told a German newspaper.

Shanghai’s carbon market hits record volumes 
By Parvez Jabri – Business Recorder
Prices and volumes in Shanghai’s fledgling carbon market have hit record levels in recent weeks after professional trading houses were allowed to enter the market.

Investors Recruited to Restore Farmland in Latin America
By Elisabeth Malkin – The New York Times
Conservation groups announced plans on Sunday to restore degraded land across Latin America with financing from private investment funds.

Natural gas / coal

Falling gas prices mean nukes are feeling the squeeze 
By Robert Walton – Utility Dive
Falling natural gas prices have coincided with an almost 40% rise in uranium prices, forcing some nuclear plants to consider shutting down.

Greens ask Obama to go big on coal ash
By Timothy Cama – The Hill
A coalition of environmental groups reminded President Obama Monday that they want him to set set strong standard for coal ash storage.

(UK) Labour calls for tougher shale gas regulations
By James Murray – BusinessGreen
Labour will today launch an attempt to tighten regulations governing the nascent UK fracking industry, putting forward a number of amendments to government legislation designed to strengthen protections for National Parks and force shale gas developers to disclose more information on their activities.


Can solar power replace oil in the Middle East?
By Vicente Lopez-Ibor Mayor – Al Jazeera
The rise of shale has posed a rare challenge to Middle Eastern oil, culminating in a global oil price war and moving OPEC members to slash profits to retain market share.

Wind farms powered 107 per cent of Scottish homes in November
By Jessica Shankleman – BusinessGreen
Scotland’s fleet of wind farms provided more than 100 per cent of the country’s domestic electricity needs in November, new preliminary figures from WWF show today.


House Republicans Push for California Drought Bill
Circle of Blue
House Republicans try again to send more water to San Joaquin Valley farmers, but President Obama says he’ll veto the bill.

How Scientists Unraveled the El Nino Mystery 
By Daniel A. Gross – Climate Central
It was January 1997, and the Pacific was turning pink. The color was spreading from deep beneath the surface, starting near New Guinea and creeping east toward the coast of Peru — a distance of nearly 11,000 kilometers. 


Fossil-fuel lobbyists, bolstered by GOP wins, work to curb environmental rules
By Tom Hamburger – The Washington Post
Oil, gas and coal interests that spent millions to help elect Republicans this year are moving to take advantage of expanded GOP power in Washington and state capitals to thwart Obama administration environmental rules. 
***LB: Also in this story “Industry lobbyists made their pitch in private meetings last week with dozens of state legislators at a summit of the American Legislative Exchange Council (ALEC), an industry-financed conservative state policy group.”

Global Warming to Make European Heat Waves ‘Commonplace’ by 2040s, Study Finds
By David Jolly – The New York Times
 ​In June 2003, a high-pressure weather system took hold over Western Europe and hovered there for weeks, bringing warm tropical air to the region and making that summer the hottest since at least 1540, the year King Henry VIII discarded his fourth wife, Anne of Cleves.

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