In this edition, coverage of China-U.S. progress on one greenhouse gas in a Reuters article and in the NY Times’ Dot Earth blog. Meanwhile, RGGI sale raises over $124 million for a new highwater mark.

Quote of the Day:

“The U.S. and China are the two biggest players in the international climate arena, and the fact that they’re talking about cooperation is a pretty big deal. It’s only one step forward, but a very positive one.”

–Fred Krupp, president of Environmental Defense Fund in Reuters’ “U.S., China agree to reduce use of hydrofluorocarbons”

Lead Stories

U.S. Northeast Carbon-Offset Sale Raises a Record $124.5 Million
Bloomberg
Regional Greenhouse Gas Initiative Inc., the nonprofit that administers the U.S. Northeast’s greenhouse-gas emissions program, raised a record $124.5 million in its quarterly auction of carbon allowances after slashing next year’s supply by almost half.
http://jlne.ws/11pN57Q
**RKB — RGGI release and auction results, here.

Global carbon trading system needs urgent support warns UN chair
Responding to Climate Change blog
The world’s main system of carbon trading needs urgent support from governments if it is to continue functioning effectively and give developing countries access to green technologies.
http://jlne.ws/13wnDld

Where’s the world going on carbon trading?
Climate Spectator
The transition toward a new generation of carbon markets includes a range of domestic or regional initiatives that will become the cornerstone of the global growth of the carbon market in the coming years. Over 40 national and 20 sub-national jurisdictions have either implemented or are considering market mechanisms that place a price on carbon.
**RKB — Over 2000 visitors from more than 100 countries attended the Carbon Expo in Barcelona last week. Carbon Market Institute CEO Peter Castellas reports on some of the key takeaways for Australia.
http://jlne.ws/13QJwKR

EU Nations Aim to Scale Back Energy-Tax Increase, Document Shows
Bloomberg
European Union governments want to scale back a planned increase in fuel taxes as the bloc seeks to emerge from a recession, according to a report prepared for EU ministers.
http://jlne.ws/119IFDd

Wall Street Takes Foot Off the Gas
The Wall Street Journal
For the first time in a decade, Wall Street banks and trading firms are shrinking their footprint in the natural-gas storage business, as booming output damps price volatility and potential profits.
http://jlne.ws/13wodzi

U.S., China agree to reduce use of hydrofluorocarbons
Reuters
U.S. President Barack Obama and his Chinese counterpart, Xi Jinping, agreed on Saturday to cooperate in fighting climate change by cutting the use of hydrofluorocarbons, or HFCs, the White House said a statement.
http://jlne.ws/161WebC

With CO2 Cuts Tough, U.S. and China Pledge a Push on Another Greenhouse Gas
The New York Times Dot Earth blog
As some environmental analysts had hoped, President Obama and President Xi Jinping of China found room to maneuver on global warming in their California desert retreat. They sidestepped the super wicked issues impeding restrictions of the greenhouse gas of greatest concern, carbon dioxide, and staff released a joint statement on plans to cut releases of hydrofluorocarbons, or HFCs, a potent group of heat-trapping gases.
http://jlne.ws/17BcFPE

Greg Barker “deeply concerned” at EU levies on Chinese solar imports
Business Green
The European Commissions must reconsider its plans to impose tariffs on Chinese solar imports or risk heavy jobs losses and jeopardising its own green energy targets, Greg Barker has warned.
http://jlne.ws/112BPTl

Events

Waste Conversion Congress East Coast
Boston, Massachusetts
June 17-18
http://jlne.ws/104mJZx

2013 Rising Seas Summit
Association of Climate Change Officers
Fort Lauderdale, Florida
June 18-20
http://jlne.ws/16i3JOk

New York Energy Week
New York, NY
June 24 -28
http://jlne.ws/ZB89bL

Converge Paris
Sustainable Energy Tech Conference
Paris, France
June 24-28
http://jlne.ws/14ClDYZ

Carbon

Germany in new push against EU car emissions plan-draft
Reuters
Germany has put forward a fresh proposal on regulating carbon dioxide limits for cars sold in the European Union, which campaigners say is a last-ditch attempt to dilute a new emissions law.
http://jlne.ws/13rB8kz

Greens put carbon tax back on agenda
NZ City
The Green Party is considering whether to revert to support for a carbon tax to force climate change behaviour changes, given the failure to date of local and global emissions trading schemes to place a meaningful price on carbon emissions.
http://jlne.ws/1bmq6jr

Natural Gas/Coal

Nuclear plant shutdown to increase California’s reliance on natural gas
Reuters
California’s growing reliance on natural gas to fuel its power plants will increase and power prices will remain elevated following Southern California Edison’s decision to retire a crippled nuclear power plant.
http://jlne.ws/13wlxBN

India Gas Price Increase Faces Delay
The Wall Street Journal
India’s plan to raise gas prices could be delayed as Prime Minister Manmohan Singh’s office has asked for a review, a senior government official said Friday.
http://jlne.ws/17BbQGn

Britain would be mad not to exploit our huge shale reserves
City A.M.
WHAT are we waiting for? Britain desperately needs a cheap and dependable source of energy to ensure the lights don’t go off and yet the government still isn’t allowing firms to start exploiting a massive, untapped resource buried deep under the north of England.
http://jlne.ws/103TX0o

German experts: Fracking is unnecessary and risky
EurActiv.com
German environmental experts doubt that developing shale gas is economically profitable and worthwhile for the country’s energy transition. They also question the technology of fracking and call for a European Environmental Impact Assessment Procedure to be adopted. EurActiv Germany reports.
http://jlne.ws/14rab3g

Supporting Oil and Gas, but Resisting Encroachment
The New York Times
GREELEY, Colo. — This is a town running on oil. From dawn till dusk, trucks carrying men and machinery rumble away for the oil and gas fields. New steakhouses and wine bars have popped up downtown. Energy companies help sponsor rodeos, blues concerts and other events. Tax revenues are surging.
http://jlne.ws/19WuIPp

Power

U.S. to Lead Clean Energy M&A as Solar Stays in Lead
Bloomberg
The U.S., with 42 percent of the $37.8 billion in clean-energy mergers and acquisitions activity last year, will maintain its top spot this year led by solar energy, the head of CohnReznick LLP’s renewable practice said.
http://jlne.ws/103NQcH

Ocean Thermal Energy Plans $12 Million Share Sale on AIM
Bloomberg
Ocean Thermal Energy Plc, a renewable energy company that can produce power from the sea, plans to raise as much as 8 million pounds ($12.4 million) by selling shares on London’s Alternative Investment Market.
http://jlne.ws/11pQUKh

U.K. $39 Billion Tidal Barrage Plan Not Economic: Report
Bloomberg
A plan to build a 25 billion-pound ($39 billion) tidal dam-like structure to generate as much as 5 percent of the U.K.’s power doesn’t provide value for money and may pose a risk to the environment, a government report found.
http://jlne.ws/18libqA
**repeats in Water

Big tidal energy scheme fails to convince British MPs
Reuters
Plans to build one of the world’s biggest tidal energy projects in the River Severn estuary between England and Wales do not look commercially viable, members of parliament said on Monday.
http://jlne.ws/13QGM01
**repeats in Water

Actis Joins Mainstream on $1.4 Billion of Clean Energy in Chile
Bloomberg
Actis LLP, a London-based private equity company and Mainstream Renewable Power Ltd. will develop $1.4 billion of wind and solar projects in Chile to help curb electricity shortages threatening the mining industry.
http://jlne.ws/11BIkvU

Chilean businesses set for 600MW renewable energy boost
Business Green
Chilean businesses seeking to curb their carbon emissions should be able to tap into 600MW of new green energy projects over the coming years, thanks to a new $1.4bn joint venture between Mainstream Renewable Power and investor Actis.
http://jlne.ws/14r7v5y

Water

Severn Trent Water Bid May Be Abandoned as U.K. Ultimatum Looms
Bloomberg
Borealis Infrastructure Management Inc. and its partners in the LongRiver group will walk away from their 5.3 billion-pound ($8.2 billion) offer for Severn Trent Plc (SVT) should the U.K. water utility fail to start negotiating with the group, a person with direct knowledge of the discussions said.
http://jlne.ws/14r1Koo

Big tidal energy scheme fails to convince British MPs
Reuters
Plans to build one of the world’s biggest tidal energy projects in the River Severn estuary between England and Wales do not look commercially viable, members of parliament said on Monday.
http://jlne.ws/13QGM01
**repeats in Power

U.K. $39 Billion Tidal Barrage Plan Not Economic: Report
Bloomberg
A plan to build a 25 billion-pound ($39 billion) tidal dam-like structure to generate as much as 5 percent of the U.K.’s power doesn’t provide value for money and may pose a risk to the environment, a government report found.
http://jlne.ws/18libqA
**repeats in Power

Reports

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

Clearing the Air: Reducing Upstream Greenhouse Gas Emissions from U.S. Natural Gas Systems (Posted April 8, 2013)
World Resources Institute
http://jlne.ws/10M9Um3

The State of Green Business 2013 (Posted February 12, 2013)
GreenBiz.com
http://jlne.ws/12K3WYL

Can the US Get There from Here? (Posted February 6, 2013)
WRI
http://jlne.ws/X5PgyQ

The Billion Euro Aviation Bonanza – Aviation’s Participation in the EU ETS (Posted January 22, 2013)
http://jlne.ws/WHQez7

View all reports >

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