Today’s edition features two articles revealing growing support for Australia’s carbon market. Bloomberg reports Australia’s Labor party Signals Qualified Support for Australia Carbon Repeal. Industry weighs in as well. GE execs believe Australia Headed for Cap-and-Trade, the Environmental Leader reports.In the piece, General Electric says it believes Australia will eventually start a cap-and-trade system – even though prime minister Tony Abbott has pledged to repeal the country’s carbon tax. Taxes (incentive loss in this case) feature in another article. The American Wind Association says U.S. Wind Power Slumps in 2013 After Tax Credit Drives 2012 Boom.
Quote of the Day:
“We believe the best, most cost-efficient way to deal with carbon pollution is an emissions-trading scheme.”
–Australian Labor leader Bill Shorten in Bloomberg’s “Labor Signals Qualified Support for Australia Carbon Repeal”
Emerging economies nearing half of global warming emissions
Total greenhouse gas emissions by China and other emerging nations since 1850 will surpass those of rich nations this decade, complicating U.N. talks about who is most to blame for global warming, a study showed on Thursday.
Economic crisis not the main cause of the EU’s CO2 drop, researchers say
Contrary to widespread belief, including at the European Commission, the massive uptake of renewable energies since 2005 has had a greater impact on the reduction of CO2 emissions than the economic slowdown.
Investors, UN panel call on Warsaw climate talks to support CDM
Reuters Point Carbon
Investors and the panel overseeing the U.N.’s carbon market for developing countries have called on delegates at next month’s climate meeting in Warsaw to rescue the ailing scheme, which the U.N. estimates has provided $315 billion in funding to low-carbon projects to date.
Labor Signals Qualified Support for Australia Carbon Repeal
The Australian opposition may support Prime Minister Tony Abbott’s bid to repeal the nation’s carbon tax if the government agrees to retain an emissions-trading program, Labor leader Bill Shorten said.
GE: Australia Headed for Cap-and-Trade
General Electric believes Australia will eventually start a cap-and-trade system – even though prime minister Tony Abbott has pledged to repeal the country’s carbon tax.
Merkel faces some internal opposition to CO2 backloading
German Chancellor Angela Merkel faces opposition from some of her own conservative lawmakers to any move to back EU plans to prop up carbon prices, according to an internal party document.
Carbon Curbs Haven’t Spurred Production Exodus, EU Study Shows
No businesses in Europe relocated production to regions without greenhouse-gas emission curbs between 2005 and 2012, according to a study for the European Commission on a process known as carbon leakage.
**RKB — The study.
EU cars on track to meet 2015 carbon emissions goal -EEA
EU car emissions fell 2.6 percent in 2012 from 2011, official figures showed on Wednesday, adding to a fierce Brussels debate on how quickly automakers can improve vehicle fuel efficiency.
U.K. Seeks Study Into Making Energy-Market Manipulation a Crime
The U.K. sought to calm voter anger over inflation-busting energy prices by studying whether to make market manipulation a criminal instead of a civil offense.
World Bank Pledges 10% Emissions Reductions by 2017
The World Bank has set a new emissions reduction goal: to reduce emissions from its owned and managed facilities by 10 percent from a fiscal year 2010 baseline by fiscal year 2017.
Climate Leadership Conference
Association of Climate Change Officers
February 24-26, 2014
San Diego, CA
Natural Gas/Coal/Alternative Fuels
Poland, Wedded to Coal, Spurns Europe on Clean Energy Targets
The New York Times
They call it Poland’s biggest hole in the ground.
U.K. Fracking Review Sees Low Risk to Health From Shale Drilling
Risks to the public from shale-gas drilling are expected to be low as long as operations are well-regulated, a U.K. government-backed body said in a draft report.
Coal power closures cast pall over UK mines
Britain’s coal mines could see demand collapse in the 2020s if old power stations shun costly retrofits required by EU law because higher fuel and carbon costs will make generation from the fuel uneconomic, an industry lobby warned on Thursday.
Looking for a Way Around Keystone XL, Canadian Oil Hits the Rails
The New York Times
Over the past two years, environmentalists have chained themselves to the White House fence and otherwise coalesced around stopping the Keystone XL pipeline as their top priority in the fight against global warming.
Column: Harvard deals blow to fossil fuel divestment campaign:Wynn
Harvard’s decision to keep buying into the fossil fuel industry through its $32.7 billion investment fund – the world’s biggest – is a blow to a divestment campaign also navigating legal uncertainty among performance-driven fund managers.
U.S. Wind Power Slumps in 2013 After Tax Credit Drives 2012 Boom
U.S. utilities agreed to buy 7.6 gigawatts of wind capacity this year through September, as construction in 2013 slowed to a trickle after a federal tax credit expired at the end of 2012, the American Wind Energy Association said.
IDB, China Fund to Provide $133 Million for Uruguay Wind Project
The Inter-American Development Bank and a Chinese government fund will provide $132.6 million for two wind farms in Uruguay’s southern Maldonado region.
S. Africa Development Bank May Offer $401 Million for Renewables
The Development Bank of South Africa may offer as much as 4 billion rand ($401 million) in additional funding for the government’s renewable energy program.
Kenya to Spend Up to $15 Billion Expanding Power Network
Kenya plans to spend as much as $15 billion boosting electricity production fourfold over the next 40 months to help accelerate growth in East Africa’s biggest economy, Energy Minister Davis Chirchir said.
Africa Water Utilities Lose as Much as $800 Million
African water companies lose as much as $800 million a year, or about 35 percent of total production, because of leaks, fraud and unpaid bills, according to the African Water Association.
Norway Sovereign Wealth Fund Says Water Risks May Affect Returns
Norway’s $808 billion sovereign wealth fund, the world’s largest, said today that long-term returns may be impacted should the companies it invests in fail to adequately manage and mitigate water-related risks.
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
Sub-national involvement in NAMA development (posted August 7, 2013)
Ecofys’ International Climate Policies Unit
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)
Four energy policies can keep the 2 Degree C climate goal alive (Posted June 10, 2013)
Maneuvering the Mosaic: State of the Voluntary Carbon Markets 2013 (Posted June 10, 2013)