In this edition, European market urgency growing, as covered by Bloomberg and others. The Hill reports Federal court won’t review decision that struck down EPA pollution rule. Meanwhile, U.K. to Import Electricity From Irish Clean Energy Plants. And The Guardian reports on Climate change and resource scarcity may wipe out pensions industry.

Quote of the Day:

“This should be the final wake-up call. Something has to be done urgently. I can therefore only appeal to the governments and the European Parliament to act responsibly.”

–EU Climate Commissioner Connie Hedegaard e-mailed statement covered in Bloomberg’s EU Carbon Plunges 40% as Lawmakers Suggest Rejection of Glut Fix

Lead Stories

EU Carbon Plunges 40% as Lawmakers Suggest Rejection of Glut Fix
Bloomberg
European Union carbon prices plunged a record 40 percent after a panel in the 27-nation bloc’s parliament recommended rejection of a strategy to strengthen the world’s biggest cap-and-trade market.
http://jlne.ws/VxeMLV
**RKB — 42-18 against. Parliament votes Feb. 19. Some traders predict market folds by 2020 without action.

Zero carbon prices beckon, no disaster: Gerard Wynn
Reuters
The European Commission can win significant gains from defeat on its carbon market reform if it can extract concessions for a more ambitious scheme from 2020.
http://jlne.ws/Wz0uK8
**RKB — This lays out the current debate, set against the bigger 2030 emissions cap efforts. Analyst Wynn says present argument around carbon market reform is a “phoney war” given it hinges on the timing of allowance auctions which will only have a brief impact on carbon prices. He urges Hedegaard to stick with 2030 lobby.

China to cap total energy use at 4 bln T coal equivalent by 2015
Reuters
China will aim to limit total annual primary energy consumption to 4 billion tonnes of coal equivalent by 2015 as it tries to improve efficiency and reduce emissions of greenhouse gases and pollution, the government said.
http://jlne.ws/W3WvrJ

Japan to Announce Greenhouse Gas Reduction Targets by November
Bloomberg
Japan will set its targets for cutting greenhouse gas emissions by November after reviewing the current 25 percent reduction goal that the government has said is out of reach.
http://jlne.ws/W5xxHo
**RKB — Waiting to see if nuclear part of the mix after change of power in December election.

Funding no problem for German shift from nuclear energy -execs
Reuters
Investors say enough money will be available for Germany’s 550 billion euro ($730 billion) shift away from nuclear to other sources of electricity, dismissing doubts over funding.
http://jlne.ws/14c7mlW

Federal court won’t review decision that struck down EPA pollution rule
The Hill
A federal court won’t reconsider a decision that nullified major Environmental Protection Agency rules to cut soot- and smog-forming power plant emissions that cross state lines.
http://jlne.ws/14c9UAP
**RKB — Coverage of initial ruling here.

Climate change and resource scarcity may wipe out pensions industry
Guardian
New report from Anglia Ruskin University shows that actuaries, charged with risk management in the financial sector, have ignored the greatest risk of all time
http://jlne.ws/10R8JH2

Obama climate push to tie environment, jobs -White House adviser
Reuters
President Barack Obama will renew his push to spur investment in renewable energy projects that create jobs as a key part of his second-term strategy for tackling climate change, a top White House policy adviser said on Thursday.
http://jlne.ws/V2w5Va

Democrats send wish list to Obama for executive action on climate change
The Hill’s E2 Wire
Rep. Henry Waxman (D-Calif.) and Sen. Sheldon Whitehouse (D-R.I.) on Thursday outlined a slate of climate change actions that President Obama could execute with his own authority.
http://jlne.ws/W3XFTR

Petroleum group quadruples lobbying spending
The Hill’s E2 Wire
A lobbying arm of the petroleum industry nearly quadrupled its spending last year as it did battle against federal mandates for fuel production.
http://jlne.ws/Wz1yxF

RBS May Lend $631 Million to Clean Power, Focusing on Biomass
Bloomberg
Royal Bank of Scotland Group Plc (RBS), Britain’s biggest government-owned lender, may channel as much as 400 million pounds ($631 million) into clean energy this year with a focus on biomass.
http://jlne.ws/V2uwqc

Events

Aviation Carbon 2013
London
February 19-20, 2012
http://jlne.ws/RSzl7e

2013 Climate Leadership Conference
Washington D.C.
February 27-March 1, 2013
climateleadershipconference.org

Navigating the American Carbon World (NACW) 2013
San Francisco April 16-18
http://jlne.ws/11SrgTF

Natural Gas/Coal

Sen. Kerry keeps cards close to vest on Keystone pipeline
The Hill’s E2 Wire
Sen. John Kerry (D-Mass.), President Obama’s nominee for Secretary of State, offered little indication Thursday of whether he would endorse construction of the Keystone XL oil sands pipeline.
http://jlne.ws/W3XsjJ

Waxman: Keystone XL ‘small’ piece of climate puzzle
The Hill’s E2 Wire
A top Democratic global warming advocate said Thursday that President Obama’s decision on the Keystone XL pipeline is a “small” part of battling climate change.
http://jlne.ws/SKCtlb

Gas at the gates of oil’s transport fuel citadel
Reuters
Crude oil’s supremacy in motor fuels is pricing it out of power and industry, leaving it stuck in low-growth transport and vulnerable to a revolution that could favour natural gas.
http://jlne.ws/VmCgXB

US LNG export debate heats up as responses to key report pour in
Reuters
The first round of public input on a potentially pivotal report on U.S. liquefied natural gas exports ended on Thursday, with groups on both sides of the issue honing their arguments in the high stakes fight over the future of the U.S. gas bounty.
http://jlne.ws/WqmHsV

Power

PG&E Approved to Buy Power From SolarReserve Project
Bloomberg
PG&E Corp. (PCG), the owner of California’s largest utility, received approval from regulators to buy power from a 150-megawatt solar-thermal project in the state’s Sonoran Desert, the first commercial-scale system in the state to include energy-storage capabilities.
http://jlne.ws/VmB2M1

DuPont’s Kullman Says China Growth to Benefit Solar Unit
Bloomberg
DuPont Co. (DD), the largest U.S. chemical maker by market value, said its solar-materials and pigments businesses will be the biggest beneficiaries from a growing Chinese economy.
http://jlne.ws/V2u0Zm

U.K. to Import Electricity From Irish Clean Energy Plants
Bloomberg
The U.K. plans to import gigawatts of wind energy from Ireland to cut costs to consumers of lowering the greenhouse gas output of the nation’s power mix.
http://jlne.ws/WqlpOs

German power bonanza energises big players and small specialists
Reuters
Germany’s impending energy shift has set a host of companies, from conglomerates to niche specialists, jostling for position to capitalise on the country’s most ambitious infrastructure project in recent history.
http://jlne.ws/Yoc0Ns

Reports

The Billion Euro Aviation Bonanza – Aviation’s Participation in the EU ETS (Posted January 22, 2013)
http://jlne.ws/WHQez7

Power Forward: Why the World’s Largest Companies are Investing in Renewable Energy (Posted Dec. 11, 2012)
http://jlne.ws/S5HNAg

Stock Exchange Benchmark On Non-Financial Reporting Rules (Posted Dec. 6, 2012)
Verdantix
http://jlne.ws/QM1A6f

Regional Investment of RGGI CO2 Allowance Proceeds, 2011 (Posted Nov. 27, 2012)
http://jlne.ws/Y2CJzg

2012 Report on Sustainable and Responsible Investing Trends in the US (Posted Nov. 27, 2012)
The Forum for Sustainable and Responsible Investment
http://jlne.ws/TsQlPs

Climate Change Report Warns of Dramatically Warmer World This Century (Posted Nov. 19, 2012)
World Bank
http://jlne.ws/RQylgD

Americans’ Global Warming Beliefs and Attitudes in September 2012 (Posted Oct. 21, 2012)
Yale Project on Climate Change Communication
http://jlne.ws/T4XcdE

View all reports >

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