In today’s edition, a look at power plants’ water dependence and the emergence of U.S. shale. In carbon market coverage, Point Carbon reports Shanghai to fine firms for breaching CO2 market rules. Plus, details on Environmental Markets Association elections.
Quote of the Day:
“The focus is on the U.S. now. The first [export] projects are under way [in the U.S.], and we expect more to come through.”
–Andrew McManus, a consultant at U.K.-based Wood Mackenzie, which is forecasting around 50 million tons of annual LNG exports from the U.S. by 2020. That’s equivalent to more than half of Australia’s projected supply of exports in that year, reports The Wall Street Journal.
Environmental Markets Association: Call for Nominations: 2013/2014 Board of Directors
The Environmental Markets Association is calling for nominations for three (3) openings on the Board of Directors for 2013/2014. Terms last for three (3) years beginning in September 2013. Nominees must be current members (Green, Bronze, Silver or Gold Level) in good-standing with EMA. If you are interested in running or would like to nominate someone, please call the EMA Headquarters at 202-591-2465 or email email@example.com.
Please contact the Nomination Committee with specific questions: Allison Wood firstname.lastname@example.org Gary Hart email@example.com
Friday, August 2 Nominations due
Thursday, August 15 Questionnaire due from candidates
Friday, August 16 Election begins electronically
Friday, August 30 Last day to cast vote
Friday, September 6 Elected Directors notified via telephone
Thursday, September 26 Elected Directors transitioned during EMA’s 17th Annual Meeting
Board Member Responsibilities and Guidelines: The primary role of the EMA Board of Directors is governance. The Board of Directors is the ultimate legal authority of the Environmental Markets Association. The EMA is incorporated in the State of Illinois as a nonprofit corporation and is recognized by the IRS as a 501(c) 6 nontaxable trade association. It is the primary responsibility of the Board to:
• Determine and promote EMA’s mission and purpose.
• Ensure effective organizational (strategic) planning.
• Determine, monitor and strengthen EMA’s programs and services.
• Allocate adequate resources for programs and services.
• Establish policies necessary to carry out EMA’s mission, programs and services.
• Determine EMA’s positions as they relate to public statements on proposed or enacted legislation, regulation, or other public policy.
• Ensure legal and ethical integrity, and maintain accountability.
• To fulfill its governance role, the EMA Board of Directors meets one time per month, generally via prescheduled teleconference to discuss and act on routine Board business. Board calls typically last one hour. In place of two of the monthly conference calls, the Board attempts to meet in person in connection with EMA’s Spring and Fall meetings for one to two hours either immediately before or immediately after the conference. Board members are expected to come to all Board meetings prepared, having reviewed all materials distributed prior to the meeting, and to be ready to act on scheduled agenda items.
Barclays, Traders Fined $487.9 Million by U.S. Regulator
Barclays Plc (BARC) and four former traders must pay a combined $487.9 million in fines and penalties, the U.S. Federal Energy Regulatory Commission said in an order tied to an investigation of alleged manipulation of energy markets.
Free market is best way to combat climate change, study suggests
The best way to reduce carbon emissions and combat climate change is through the use of market forces, according to a new study. Researchers who monitored the effectiveness of the European Climate Exchange (ECX) — the world’s biggest carbon trading platform — found it to be as efficient as Europe’s two biggest exchanges, the London Stock Exchange and the Euronext Paris.
**RKB — Citing University of Edinburgh and International Journal of the Economics of Business. Link not immediately available.
Power Plants Face ‘Collision Course’ With Water, Researchers Say
U.S. power producers must reduce their dependence on water or they may be forced to lower output as drought and other extreme weather events curtail their access to water supplies, researchers said today.
U.S. Shale Boom Threatens Australian Gas Projects
The Wall Street Journal
More than $160 billion of bets placed by international oil companies including Chevron Corp. and Exxon Mobil Corp. on natural gas in Australia are getting riskier, as the country becomes the latest major energy producer to grapple with North America’s surging output of shale gas.
Merkel says will fight EU over Germany’s renewable energy law
German Chancellor Angela Merkel said on Tuesday she would fight in Brussels for a disputed clause within Germany’s renewable energy law that exempts energy-intensive industries from charges which other consumers must pay.
Why Disney, BP And Rio Tinto Are Exploring Ecosystem Services
Disney, BP, Rio Tinto and Weyerhaueser represent vastly different sectors. Yet these companies see an increasingly persuasive business case for tracking the impacts and dependencies on biodiversity and ecosystem services (BES).
Water and Society 2013
New Forest, U.K.
EMA’s 17th Annual Meeting
Las Vegas, NV
Verge: Where Tech Meets Sustainability
San Francisco, Calif.
Solar Power International
Shanghai to fine firms for breaching CO2 market rules
Reuters Point Carbon
Shanghai companies that fail to surrender enough government-issued carbon permits for each tonne of CO2 they emit under the city’s Emissions Trading Scheme face government fines of up to 100,000 RMB ($16,000) and will be forced to buy permits in the market, according to draft rules released by city lawmakers.
Environment and carbon farming programs cut to pay for ETS
The Federal Government has announced millions of dollars in cuts to the Biodiversity Fund and Carbon Farming Futures program, as Australia moves to a floating carbon price.
COLUMN-Australia’s carbon mess a warning to the world: Clyde Russell
Any government thinking of introducing policies to limit carbon emissions should look at Australia for an example of how not to do it.
Natural Gas/Coal/Alternative Fuels
Ambani Gas Set to Revive Stalled Power Projects: Corporate India
India is considering a plan to divert natural gas supplies from Mukesh Ambani’s field to revive $21 billion of power projects stalled by the lack of fuel.
Chevron, Argentina’s YPF sign $1.24 billion Vaca Muerta shale deal
U.S. oil company Chevron Corp signed an agreement with Argentina’s YPF on Tuesday to invest $1.24 billion in the Vaca Muerta shale oil and gas formation, thought to be one of the biggest reserves in the Western Hemisphere.
Australian Gas Transporter APA Bids for Rest of Pipeline Operator Envestra
The Wall Street Journal
Australian gas transporter APA Group bid for full control of Envestra Ltd.,with an offer valuing the pipeline operator at 1.98 billion Australian dollars (US$1.81 billion)—but its hopes hinge on support from Li Ka-shing’s Cheung Kong Infrastructure Holdings Ltd.
World Bank to limit financing of coal-fired plants
The World Bank’s board on Tuesday agreed to a new energy strategy that will limit financing of coal-fired power plants to “rare circumstances,” as the Washington-based global development powerhouse seeks to address the impact of climate change.
Invis Energy Raises 160 Million Euros for Wind in Ireland
Invis Energy, an Irish electricity producer, raised 160 million euros ($210 million) to invest in two wind farms in western Ireland as the country boosts clean-power generation.
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)
Mapping carbon pricing initiatives: developments and prospects (Posted May 30, 2013)
Extreme Weather and Climate Change in the American Mind April 2013 (Posted May 1, 2013)
Yale Project on Climate Change