In 2014, the value of the globally-traded carbon market will rise by two thirds from 2013 reach 64bn euro, (39bn euro in 2013), with volume increasing by 3 percent to 9.6 Gt CO2e, according to analysis by Thomson Reuters Point Carbon. These figures, featured in our Leads section, serve as interesting background to the official passage today of a EU carbon market plan to prop up carbon prices. The EU enacted into law the so-called backloading measure that keeps on track the European Commission’s aim to allow the withdrawal of a maximum 400 million permits this year.
Quote of the Day:
“The climate-change negotiations have been mired down because of the difficulties of getting 194 countries to agree. You’ve got to have sufficient enough countries passing national legislation in order to get some traction. It’s got to be more flexible than a prescriptive treaty to get people signed up. There’s some pragmatism coming in, not dictating to people precisely how they should approach tackling climate change.”
–U.K. lawmaker and former environment secretary Caroline Spelman in Bloomberg’s Emerging Economies Lead Climate Action, Globe Study Finds
Emerging Economies Lead Climate Action, Globe Study Finds
Nations have passed almost 500 laws to tackle climate change, with emerging economies led by Mexico and China making the most progress last year, a study by Globe International found.
No Conflict of Interest Found in Favorable Review of Keystone Pipeline
The New York Times
A State Department contractor who prepared an environmental analysis of the Keystone XL pipeline did not violate conflict-of-interest rules, even though the contractor had previously done work for TransCanada, the company seeking to build the pipeline, a State Department Inspector General’s investigation concluded on Wednesday.
Global Carbon market to reach record volumes by 2016
In 2014, the value of the globally-traded carbon market will rise by two thirds from 2013 reach 64bn euro, (39bn euro in 2013), with volume increasing by 3 percent to 9.6 Gt CO2e, according to analysis by Thomson Reuters Point Carbon, the leading provider of market intelligence, news, analysis, forecasting and advisory services for the energy and environmental markets.
EU backloading passes into law
A plan to prop up EU carbon prices was published in the official journal of the European Union on Wednesday, enacting into law the so-called backloading measure that keeps on track the European Commission’s aim to allow the withdrawal of a maximum 400 million permits this year.
State Senator’s Proposal Moves from Cap & Trade to Fee & Rebate
Huffington Post blog
On February 20, 2014, California Senate President pro Tempore Darrell Steinberg (D – Sacramento) proposedremoving transportation fuels from the state’s Cap & Trade program under AB32, the Global Warming Solutions Act of 2006. Steinberg said the State should instead add a 15 cent per gallon gasoline tax that would increase over time, return two-thirds of the revenues to low and middle-income families through an Earned Income Tax Credit, and spend the rest on mass transit and similar projects.
Dana Milbank: Justices skeptical of carbon rules
The Washington Post
It has the makings of a royal mess for “King Barack.” Monday morning’s Supreme Court argument about the Environmental Protection Agency’s authority to regulate greenhouse gases went badly for the Obama administration – so much so that the real question before the justices seemed to be how severe the EPA’s loss would be.
Arnold Schwarzenegger and Sir James Dyson among centre-right figures trying to reclaim the green agenda for conservative politicians around the world
A transatlantic coalition of centre-right figures including Sir James Dyson, former M&S boss Sir Stuart Rose and Arnold Schwarzenegger today launches a damning environmental indictment of Conservative politicians around the world.
Mexico’s president is coming to Calif., and climate may be on the agenda
There’s a possibility that California and Mexico could form a partnership on climate issues, Air Resources Board Chairwoman Mary Nichols said here yesterday.
GE Says Japan Has More Potential to Harness Wind Energy
General Electric Co. (GE) considers Japan ripe for new investment in wind power as the resource-poor country diversifies energy supply in the wake of the Fukushima nuclear disaster almost three years ago.
Industry-funded report calls for changes to German energy policy
Germany’s current policy of rapidly deploying renewable energy should be redesigned to prevent its industry from losing global market share because of high power costs, a report by international think-tank IHS said on Thursday.
Merkel Advisers Urge Germany to End Clean-Energy Subsidy Program
Germany should scrap its clean-energy subsidies because the system has driven up electricity costs for consumers and hasn’t spurred innovation or reduced greenhouse gases, a group of government advisers said.
Yergin: Germany Must Focus on Cost-Effective Renewable Energy
The Wall Street Journal
Germany needs to focus on cost-effective renewable energy sources and start drilling for shale gas to avoid sapping its wealth while cutting carbon emissions, said energy expert Daniel Yergin.
Round Table: California Clean Energy Markets and Policy Strategies
February 28, 2014
Click here for more information and to register.
Navigating the American Carbon World (NACW) 2014
March 26-28, 2014
San Francisco, California
13th Biennial Conference and Trade Fair on Business and Sustainability
March 26-28, 2014
Vancouver, British Columbia
Indonesian Government May Buy Carbon Offsets from Domestic Forest Conservation
Southeast Asia has more than 27 million hectares of forested peatland, and peat releases devastating amounts of methane and carbon when drained or burned. Approximately 80% of the world’s peatland is in Indonesia, and much of it is slated to be converted to palm oil plantations, thanks to land-use concessions granted well before the decidedly green President Susilo Bambang Yudhoyono took office a decade ago.
Xi Jinping Calls Pollution Beijing’s Biggest Challenge
Chinese President Xi Jinping said pollution was Beijing’s biggest challenge as thick smog blanketing northern China cleared after seven straight days at hazardous levels.
Talk About Natural Gas: Cow Belches Top Methane List
Wall Street Journal
There’s a new methane champ, says the Environmental Protection Agency, which found in a new draft report on greenhouse gases that cattle passed the natural-gas industry as the biggest source of U.S. methane emissions in 2012.
South Africa Delays Carbon Tax, Plans Levies on Acid Mine Water
South Africa’s government delayed the implementation of a planned carbon tax to 2016, while saying it may impose new levies on mining companies to help fund the treatment of acid water seeping from disused gold mines.
Natural Gas/Coal/Alternative Fuels
Dream of U.S. Oil Independence Slams Against Shale Costs
The path toward U.S. energy independence, made possible by a boom in shale oil, will be much harder than it seems.
RPT-EU policy gap choking off next generation green fuel-industry
Projects to deliver a next generation of green transport fuel, which new research says could cut EU oil consumption by millions of tonnes per year, are on hold because of an EU policy vacuum, representatives of the industry say.
Global power and utility M&A at three-year high – report
The brisk pace of M&A activity in the global power and utility sector is expected to continue in 2014 after deals hit a three-year high last year, as utilities look to shed debt and expand into non-core markets, consultancy Ernst & Young said.
Big utilities shunned green energy at their peril: Greenpeace
Europe’s 10 biggest utilities, produce more than half of Europe’s power, but only a tiny percentage is from the new green energy sources that could revive their profits, a report from campaign group Greenpeace said on Thursday.
NY State Expects All Utilities to Prep for Climate Change
In a major settlement that could have far-reaching implications nationwide, New York’s largest utility is now responsible for preparing for a future of extreme weather, including the impacts of climate change.
British regulators launch 400 mln stg offshore wind link tender
UK energy regulator Ofgem on Wednesday launched a 400 million pound tender for linking offshore wind farms in the North Sea to Britain’s national power grid.
Cape Wind to Get $600 Million Danish Export Credit Agency Loan
Cape Wind Associates LLC, the developer seeking to build the first offshore wind farm in the U.S., arranged a $600 million loan from Denmark’s export credit agency EKF.
Canadian Solar Gets $47 Million Loan for Ontario Plant
Canadian Solar Inc. (CSIQ), the best-performing solar maker last year, received a C$52 million ($47 million) loan from Natixis SA (KN) for a power plant in Ontario. The loan to build the 10-megawatt Glenarm project, which DIF Infra 3 RE Canada is acquiring, has a maturity term of construction plus 10 years, Guelph, Ontario-based Canadian Solar said today in a statement.
Acciona seeks partner for foreign wind assets – source
Spanish renewable energy firm Acciona has hired Lazard to find a buyer for up to 49 pct of its wind power assets outside Spain in a push to raise capital, a source with knowledge of the matter said.
Abengoa Agrees to Sell Holding in China Water Desalination Plant
Abengoa SA (ABG) agreed to sell its holding in the Qingdao seawater reverse-osmosis desalination plant in northeastern China to one of its venture project partners for 53 million euros ($72 million).
Climate conference explores water and power
U-T San Diego
The link between water and energy is a key facet of climate change, government and business experts said at the Climate Leadership Conference in San Diego Tuesday.
State of Green Business 2014
California Carbon Market Watch: A Comprehensive Analysis of the Golden State’s Cap-and-Trade Program,Year One (January 8, 2014)
Assessing Corporate Emissions Performance Through the Lens of Climate Science (December 2013)
Climate Counts and Center for Sustainable Organizations
Use of internal carbon price by companies as incentive and strategic planning tool (Posted December 11, 2013)
OECD: Effective carbon prices (November 4, 2013)
Global 500 Climate Change Report 2013 (Posted September 12, 2013)
The Future of China’s Power Sector (posted August 27, 2013)
Bloomberg New Energy Finance
U.S. Energy Sector Vulnerabilities to Climate Change and Extreme Weather (Posted July 14, 2013)
U.S. Dept. of Energy
Turn down the heat: climate extremes, regional impacts, and the case for resilience (Posted June 19, 2013)