In this edition, major newswires provide the latest on a China-EU solar trade deal. Details yet to come on prices. Also, more on UN CER trading pause. And, the Wall Street Journal jumps in with Natural-Gas Demand Slips in Japan, World’s No. 1 Importer.

Quote of the Day:

“The investor needs to be cognizant that this is a lot of risk and a lot of volatility. The Internet made progress in the ’70s, but it wasn’t until the ’80s when it really started to grow. With the energy sector, it’s like ’82 or ’83 with the Internet.”

–Anton Bayer, CEO of Up Capital Management, in The New York Times’ “Seeking Light in the Heat of Energy Investing.”

Lead Stories

European Union, China Agree on Solar-Panel Shipment Deal
Bloomberg
European Union and Chinese negotiators reached an agreement to curb EU imports of solar panels from China in exchange for exempting the shipments from punitive tariffs.
http://jlne.ws/14aT9Jy
**RKB — The accord would set a minimum price for imports of the renewable-energy technology from China. In return, Chinese manufacturers would be spared EU levies meant to counter below-cost sales, a practice known as dumping. The EU import taxes target more than 100 Chinese companies including Yingli Green Energy Holding Co., Wuxi Suntech Power Co. and Changzhou Trina Solar Energy Co.

EU, China resolve solar dispute – their biggest trade row by far
Reuters
China and the European Union defused their biggest trade dispute by far on Saturday with a deal to regulate Chinese solar panel imports and avoid a wider war in goods from wine to steel.
http://jlne.ws/17MWyv8

Trading Halt Shows UN Carbon System in Jeopardy: Energy Markets
Bloomberg
An unprecedented freeze in United Nations carbon trading is fanning speculation the five-year-old market designed to combat greenhouse-gas emissions in poor countries is in danger of becoming superfluous.
http://jlne.ws/18BgpP1
**RKB — Situation in numbers: Not a single UN Certified Emission Reduction, or CER, changed hands on July 22 and July 23, according to data from ICE Futures Europe, keeping the market on course for the lowest monthly aggregate volume since March 2008. The 14.3 million tons of offsets bought and sold this month compares with the record 211 million tons traded in October and an average 52 million over the past 12 months.

China will act on emissions for its own reasons, says analyst
The Sydney Morning Herald
Yang Fuqiang, a China expert with the US National Resources Defence Council, has little patience with arguments the world’s biggest emitter of carbon dioxide should leave it to richer nations to take the lead on tackling climate change.
http://jlne.ws/179q38m
*RKB — His comments follow the IEA release last week. China now accounts for 44% of coal production and its share will peak at 52% in 2030. Yang argues that China will curb coal use faster than many predict.

U.S. appeals court rejects states’ challenge over climate rules
Reuters
A federal appeals court on Friday rejected a legal challenge by Texas and Wyoming to the U.S. Environmental Protection Agency’s efforts to curb greenhouse gas emissions.
http://jlne.ws/13oydYh

Obama Says He’ll Evaluate Pipeline Project Depending on Pollution
The New York Times
President Obama said in an interview that he would evaluate construction of the Keystone XL pipeline on the basis of whether it would significantly contribute carbon to the atmosphere.
http://jlne.ws/18KVVXu

Obama downplays Keystone pipeline’s economic benefits
The Sydney Morning Herald
US President Barack Obama said in an interview that he would evaluate construction of the Keystone XL pipeline on the basis of whether it would significantly contribute carbon to the atmosphere.
http://jlne.ws/16qj3Vm

Seeking Light in the Heat of Energy Investing
The New York Times
Energy independence. Oil exports. Fracking. Electric cars. Solar power. And as of last week: the heat dome. These are phrases that are bandied about, sometimes dividing people along political lines. But all mean one thing: this is a boom time for the United States energy sector, from pulling it out of the ground to moving it around the country to finding ways to use less of it.
http://jlne.ws/15WzB7K

Scientists warn on Arctic ‘economic time bomb’
Financial Times
The rapidly melting Arctic is an “economic time bomb” likely to cost the world at least $60tn, say researchers who have started to calculate the financial consequences of one of the world’s fastest changing climates.
http://jlne.ws/16qq9JB

Column: Well intentioned but flawed, U.S. biofuel policy in need of change
Bloomberg
Gasoline prices have shot up nearly 20 cents since the start of July and are projected to rise higher yet. Gasoline prices are largely driven by global crude oil prices and usually rise during the summer driving season. But this year, in an ironic twist, they are being pushed up even more in part because US gasoline consumption is much lower than anyone anticipated just a few years ago.
**Column contributors: Jason Bordoff is Director of Columbia University’s Center on Global Energy Policy. Robert McNally is founder and president of Rapidan Group, an energy market and policy consulting firm. They served as White House energy advisors for Presidents Barack Obama and George W. Bush, respectively.
http://jlne.ws/17MWNq3

Events

Water and Society 2013
September 4-6
New Forest, U.K.
http://jlne.ws/13bNnUA

EMA’s 17th Annual Meeting
September 25-27
Las Vegas
http://jlne.ws/192w3CR

Climate Strategies Forum
Association of Climate Change Officers
October 14-17
Washington, D.C.
http://jlne.ws/14cGFtN

Verge: Where Tech Meets Sustainability
October 14-17
San Francisco
http://jlne.ws/1bAKXT4

FT Global Shale Energy Summit
October 21
London
http://jlne.ws/1cemi7d

Solar Power International
October 21-24
Chicago
http://jlne.ws/184e0wa

Carbon

Series of setbacks for carbon pricing
The Sydney Morning Herald
Carbon pricing, it seems, can’t take a trick.
It’s just weeks since the Rudd government decided to replace the carbon tax with a floating price a year early; Europe continues to dither over how to revive its ailing carbon market; and now the United Nations’ own market has all but halted.
http://jlne.ws/1aQD3Ui

UN carbon offset scheme cruises to the Caribbean
Business Green
The United Nations Framework Convention on Climate Change (UNFCCC) is to work with a Caribbean non-profit organisation to boost the region’s participation in the UN carbon offset scheme, the Clean Development Mechanism (CDM).
http://jlne.ws/17MZxE4

Ford India joins carbon reporting program
The Times of India
Ford Motor Co has become the first automaker to join a voluntary greenhouse gas reporting program recently established in India, a step towards helping stabilise carbon dioxide emissions. Ford already participates in similar programs in the United States, China, Canada, Mexico, Brazil and Argentina.
http://jlne.ws/19qM20I

Sanders to Baucus: Include carbon fees in tax code overhaul
The Hill’s E2 Wire
Sen. Bernie Sanders (I-Vt.), declining an offer of secrecy, sent an open letter with tax policy ideas to Finance Committee leaders that calls for taxing carbon emissions and ending billions of dollars in oil industry tax incentives.
http://jlne.ws/1c368iy

Natural Gas/Coal

Natural-Gas Demand Slips in Japan, World’s No. 1 Importer
The Wall Street Journal
Japan’s demand for imported natural gas, which ballooned after the 2011 Fukushima Daiichi nuclear disaster, is falling—and may deflate a lot further if the government succeeds in getting dozens of idled nuclear reactors restarted.
http://jlne.ws/16cZ0Me

House Dem pulls fracking lawsuit to gather more evidence
The Hill’s E2 Wire
Rep. Jared Polis (D-Colo.) is hitting the brakes on a lawsuit to stop a hydraulic fracturing, or fracking, operation near property he owns.
http://jlne.ws/12vdS9N

Power

Czech Government Votes to End Support for Renewables From 2014
Bloomberg
The Czech government approved a draft law to end support for renewable energy, proposing to stop subsidies for new projects at the end of this year.
http://jlne.ws/13lTYZE

Iberdrola attacks Spanish energy overhaul
FT.com
Iberdrola has criticised the Spanish government’s latest overhaul of the country’s energy sector, arguing that the reform will discourage important investment and force producers to accept returns lower than their costs.
http://jlne.ws/16d55se

Gamesa Expects Revenue Boost From Wind-Park Maintenance Demand
Bloomberg
Gamesa Corp. Tecnologica SA (GAM), the Spanish wind-turbine maker that’s tripled in value this year, expects demand for its maintenance division to increase as utilities lack the funds to build new projects.
http://jlne.ws/14msVg8

Northeast awaits offshore wind policy
Financial Times
The government will publish its offshore wind strategy this week. People in the industry have expressed hopes that, after lengthy uncertainty, the document will help to generate jobs and growth – with the northeast and Yorkshire in the vanguard.
http://jlne.ws/1c33rxx

Miscellaneous

Exxon Among Targets for Divestiture in Climate Push
Bloomberg
Activist Bill McKibben, who helped turn an obscure oil pipeline project into a high-profile political fight, has a new target for his effort to curb global warming: energy companies such as Exxon Mobil Corp. (XOM).
http://jlne.ws/13lSMpl

Reports

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

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

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

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

Mapping carbon pricing initiatives: developments and prospects (Posted May 30, 2013)
World Bank
http://jlne.ws/15iik9E

Extreme Weather and Climate Change in the American Mind April 2013 (Posted May 1, 2013)
Yale Project on Climate Change
http://jlne.ws/ZWPD1Z

View all reports >

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