China kicks off its first carbon trading. Permits sell for 27 yuan or $4.43 in Shanghai, one of seven pilot programs. Coverage and commentary in our Leads section. Germany utility E.ON say European natural gas trading more attractive than power, Reuters reports, in the Natural Gas section.Plus, methane emissions are probably greater than current statistics account for. Read the findings in the Leads section.

E/E is off for a few days for the U.S. Thanksgiving holiday, returning Monday, December 2. Enjoy your time with family and friends.

Quote of the Day:

“The structure of European power markets and renewables has not fundamentally changed.There would have to be significant changes in the ETS scheme.”

–Christopher Delbrueck, head of E.ON’s commodities division, on the sidelines of an energy conference in Berlin, in Reuters’ “European natural gas trading more attractive than power – E.ON”

Lead Stories

Shanghai Sells First Carbon Permits as Chinese Trading Expands
Bloomberg
The Shanghai Environment and Energy Exchange started trading today, with carbon permits selling for 27 yuan ($4.43) a metric ton as China promotes seven pilot programs as tools for reducing the world’s highest emissions.
http://jlne.ws/1jHs0PO

Trading emissions in China’s non-market economy
The Conversation/Climate Spectator
While Australia’s emission trading scheme has an uncertain future, China is determined to go ahead with its trading schemes. This week it launches its Beijing and Shanghai schemes. But the operating environment for these schemes will be vastly different to that in Australia or the European Union.
http://jlne.ws/1dzneXg
**RKB — The authors, college lecturers in environmental policy and sustainability, note: We identified 42 domestic carbon exchanges in China. Most are backed by state-owned enterprises. These exchanges depend on government and are subject to indirect state influence – more so than their counterparts in major international markets.

Climate Change Bills in the 113th Congress
Energy Collective Blog
The first year of the 113th Congress (2013-2014) draws to a close with no passage of climate-specific legislation, but signs that some in Congress understand the importance of addressing this issue. More bills were introduced that support climate action than oppose it. (For brevity, we refer to all legislative proposals as “bills.”)
http://jlne.ws/1cs3q3e
**RKB — Blogger Jason Ye is a Fellow at the Center for Climate and Energy Solutions.

Fracking Bonanza Eludes Wastewater Recycling Investors
Bloomberg
After two years searching for a blockbuster investment in oilfield water management, fund manager Judson Hill is still holding on to his money.
http://jlne.ws/1jHuCNC

EPA Mercury Mandate Creates New $10 Billion Market
Seeking Alpha
Mercury is a serious threat to the environment and human health. Exposure to mercury can destroy the human nervous system and permanently damage the brain, heart, kidneys, lungs, and immune system. With over 50% of mercury emissions in the United States coming from coal fired power plants, the US Environmental Protection Agency or EPA has issued new regulatory mandates, which will become effective in April 2015.
http://jlne.ws/18FqBb4

Methane Emissions in U.S. Probably Top Estimates: Study
Bloomberg
U.S. emissions of methane — a greenhouse gas — are probably 50 percent higher than current estimates show, according to a study published yesterday in the Proceedings of the National Academy of Science.
http://jlne.ws/1cN643r

Are gassy cattle a bigger problem than US government thought?
The Christian Science Monitor
The gassy rumblings of ruminating cattle, along with the hisses and sloshes as natural gas is extracted, refined, and transported to communities across the United States, may release 50 percent more methane into the atmosphere than the government had estimated, according to a report published Monday by Harvard University.
http://jlne.ws/1ggp78M

Events

CarbonExpo Australia 2013
December 2-4, 2013
Melbourne
http://www.carbonexpo.com.au/

Climate Leadership Conference
Association of Climate Change Officers
February 24-26, 2014
San Diego, CA
climateleadershipconference.org/

Navigating the American Carbon World (NACW) 2014
March 26-28, 2014
San Francisco, California
www.nacw2014.org

Carbon

Offsetters joins the International Carbon Reduction and Offset Alliance
Press Release
The International Carbon Reduction and Offset Alliance (ICROA), a global alliance of the leading carbon management and offset providers announces Offsetters as its first Canadian member.
http://jlne.ws/17RQsMt

ACCC talks up carbon tax savings
AAP
The consumer watchdog is confident it can police the electricity sector to ensure any savings to come from scrapping the carbon tax are reflected in household energy bills.
http://jlne.ws/1bTyoPY

EU agrees on car emissions limits
Reuters
The European Union on Tuesday agreed a compromise to enforce stricter rules on carbon dioxide emissions for EU cars, ending months of wrangling after Germany insisted an earlier deal was torn up.
http://jlne.ws/194TwC2

Natural Gas/Coal/Alternative Fuels

Brazil Ethanol Needs to Fall Below 60% of Fuel to Boost Demand
Bloomberg
Ethanol prices in Brazil, the world’s second-biggest producer, need to fall below 60 percent of gasoline costs for motorists to switch to the biofuel, boosting domestic demand, according to consultants Datagro Ltd.
http://jlne.ws/185NGQE

Argentina, Indonesia Spared EU Anti-Subsidy Duties on Biodiesel
Bloomberg
The European Union dropped a threat to impose anti-subsidy tariffs on Argentinian and Indonesian biodiesel after approving five-year levies to counter below-cost, or “dumped,” imports from both countries.
http://jlne.ws/1cN6rem

Sinopec, Apache in Talks to Invest in Canada LNG Project
The Wall Street Journal
China’s largest refiner is in early talks with U.S.-based oil-and-gas producer Apache Corp.to buy a minority stake in a liquefied natural-gas project on Canada’s Pacific coast, people familiar with the matter said Tuesday.
http://jlne.ws/1bTwNto

European natural gas trading more attractive than power – E.ON
Reuters
European natural gas trading has become more attractive than power as the rise of regional hubs offers arbitrage opportunities while renewable subsidies and regulatory risks make power less appealing, German utility E.ON said on Tuesday.
http://jlne.ws/1bm8fyl

Power

RWE scraps British wind farm amid political energy row
Reuters
Germany’s RWE has scrapped plans to build the world’s largest offshore wind farm in British waters only a month after warning that political wrangling over green energy was endangering billions of pounds of investment.
http://jlne.ws/1a1RTo8

U.K. Offshore Wind Energy a Turnoff for Investors
The Wall Street Journal
A major European utility said Tuesday it would scrap a wind farm that was due to become the largest offshore wind project ever built, a sign of the struggles of the industry to attract investment needed to overcome huge costs and technical challenges.
http://jlne.ws/1aSE4Nr

Vestas Hopes to Bring Wind Power to World
The New York Times
In recent years, solar energy has emerged as a solution for powering places that lack sufficient electricity, frequently remote areas in developing nations where conventional fuel can be expensive.
http://jlne.ws/IhasOO

U.S. Ex-Im Bank to Lend $61 Million for Costa Rica Wind Project
Bloomberg
The Export-Import Bank of the U.S. will lend a unit of Globeleq Mesoamerica Energy SA $61.1 million to buy turbines from Gamesa Corp. Tecnologica SA (GAM) for a wind farm in Costa Rica.
http://jlne.ws/17RT1Or

India’s Tata Power eyes more purchases in wind and solar push
Reuters
India’s Tata Power is looking for more acquisitions as part of a $260-million-a-year investment push into renewable energy, following last month’s purchase of a wind farm in western Gujarat from AES Corp, a senior official said.
http://jlne.ws/194TSIS

PG&E Agrees to Buy Power From California Solar Project
Bloomberg
PG&E Corp. (PCG), owner of California’s largest utility, agreed to buy power from a 15-megawatt solar project under development in southern California.
http://jlne.ws/194SfL9

Balfour Group to Run First U.K. Wind-Farm Link Funded With Bonds
Bloomberg
A group including Balfour Beatty (BBY) Investments Ltd., Equitix Ltd. and AMP Capital Investors Ltd. won a license to run a transmission link connecting offshore wind to the shore, the first such project funded with bonds.
http://jlne.ws/1aWNBCc

Broadbent defends clean energy fund
The Australian Financial Review/Business Spectator
Clean Energy Finance Corporation (CEFC) chairman Jillian Broadbent has appealed to the Abbott government to reverse plans to scrap the CEFC, saying the organisation is producing revenues for taxpayers and can deliver a no-cost solution to helping meet Australia’s 2020 emissions reduction target, according to The Australian Financial Review.
http://jlne.ws/1bTxTFB

Reports

OECD: Effective carbon prices (November 4, 2013)
http://jlne.ws/176gahP

Global 500 Climate Change Report 2013 (Posted September 12, 2013)
CDP
http://bit.ly/16mBo8p

The Future of China’s Power Sector (posted August 27, 2013)
Bloomberg New Energy Finance
http://bit.ly/14Bk1k2

Sub-national involvement in NAMA development (posted August 7, 2013)
Ecofys’ International Climate Policies Unit
http://bit.ly/19LKChs

U.S. Energy Sector Vulnerabilities to Climate Change and Extreme Weather (Posted July 14, 2013)
U.S. Dept. of Energy
http://bit.ly/12z1YK5

Turn down the heat: climate extremes, regional impacts, and the case for resilience (Posted June 19, 2013)
World Bank
http://bit.ly/14KrLza

Four energy policies can keep the 2 Degree C climate goal alive (Posted June 10, 2013)
IEA
http://bit.ly/12Bpk41

Maneuvering the Mosaic: State of the Voluntary Carbon Markets 2013 (Posted June 10, 2013)
Ecosystem Marketplace
http://bit.ly/12Cyi0X

View all reports >

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