In this edition, news coverage and bloggers’ reaction to IEA data, including a few silver linings, and U.S. shale data. Also from the blogosphere, Shell’s climate advisor weighs in with Can a Second Global Carbon Market Emerge?.
Quote of the Day:
“Rapid and widespread adoption could act as a bridge to further action, buying precious time while international climate negotiations continue.”
–IEA Chief Economist Fatih Birol in The Wall Street Journal’s “IEA Urges Action to Avert Dangerous Temperature Rise”
IEA Urges Action to Avert Dangerous Temperature Rise
The Wall Street Journal
A global climate deal that may come into force in 2020 will come too late to avert a global temperature increase of more than 2 degrees Celsius, unless governments swiftly implement four new policy measures to curb carbon emissions, the International Energy Agency said Monday.
Four energy policies can keep the 2 Degree C climate goal alive
Global carbon emissions hit record high in 2012
China led a rise in global carbon dioxide emissions to a record high in 2012, more than offsetting falls in the United States and Europe, the International Energy Agency (IEA) said on Monday.
United States’ Contribution to Global Warming Decreased in 2012
US News & World Report
The world is on pace to more than double the expected global temperature rise due to climate change according to a new report by the International Energy Agency.
Silver linings in the IEA report on 2012 fossil fuel carbon emissions
As Fiona Harvey reported for The Guardian, the International Energy Agency (IEA) 2012 World Energy Outlook Report found that annual carbon dioxide emissions from fossil fuels rose 1.4 percent in 2012 to 31.6 billion tonnes (gigatonnes [Gt]). The bad news is that this is a new record high level of emissions. The good news is that it represents the second-smallest annual increase since 2003, behind only 2009 when global fossil fuel carbon emissions fell due to the global recession. Emissions estimates from 2009–2010 have also been revised downward, so the reported 31.6 Gt 2012 emissions match the reported value from 2011.
European Demand For Voluntary Offsets Surges 34% As Corporates Go Green
Voluntary demand for carbon offsetting grew 4% in 2012, when buyers committed more than $523 million to offset 101 million metric tonnes of greenhouse gas emissions. Private sector buyers flocked to offsets earned by planting trees, saving tropical forests, or distributing clean cookstoves in the developing world, according to this year’s State of the Voluntary Carbon Markets report, released by Forest Trends’ Ecosystem Marketplace this week in Barcelona, Spain.
Maneuvering the Mosaic: State of the Voluntary Carbon Markets 2013
**Full report due for release in Mid-June.
Can a Second Global Carbon Market Emerge?
The Energy Collective blog
At the very end of May Carbon Expo was held in Barcelona. It was an excellent event, overall attendance was good and there were still quite a few exhibitors at the Expo hoping for life in the project mechanism market of the current “global carbon market”. But this is an area of trade that is clearly struggling.
**RKB — Blogger David Hone serves as the Senior Climate Change Advisor for Royal Dutch Shell.
Shale-Gas Estimate Rises
The Wall Street Journal
Countries outside of North America have considerable supplies of natural gas and oil locked in shale formations and someday could join the shale production boom occurring in the U.S. and Canada, according to new U.S. government estimates.
EIA: Shale Fields May Hold 10% of World’s Crude Oil, 32% of Gas Resources
The Wall Street Journal
Ten percent of the world’s recoverable crude-oil resources and nearly one-third of natural-gas resources may be held in shale formations in the U.S. and in dozens of other countries where exploitation of resources trapped in the rock is in the early stages, according to a report released by the U.S. government Monday.
EU official: shale gas el dorado out of Europe’s reach
A senior European Commission official has poured cold water on claims that a shale gas boom in Europe would result in de-facto low gas prices.
California Summit Leaves Host of Unresolved U.S.-Sino Issues
Though they bonded at their two-day California summit, sharing small talk about exercise and a shirt-sleeve stroll in the unforgiving desert sun, the presidents of the world’s two largest economies still confront a range of issues that threaten to pull them apart.
**RKB — Brief mention toward article’s end of emissions pact (detailed in the June 10 E/E). It’s at least a minor achievement (and maybe more) from the summit though if its late mention in this article is any indication, often misplaced in the bigger trade and economic agenda.
UN Green Climate Fund Signs Agreement to Set Up HQ in S. Korea
The United Nations Green Climate Fund signed an agreement with South Korea to locate its headquarters in Incheon, west of Seoul.
Waste Conversion Congress East Coast
2013 Rising Seas Summit
Association of Climate Change Officers
Fort Lauderdale, Florida
New York Energy Week
New York, NY
June 24 -28
Sustainable Energy Tech Conference
U.K. Carbon-Fraud Probe Poised to Run Through 2015, PwC Says
U.K. regulators may take a further two years to complete an investigation into fraud in the carbon market as it seeks data from companies including Royal Bank of Scotland Plc and CarbonDesk Group Plc. (CO2P).
Worry over scarcer credits propels US carbon market RGGI
A pioneer US carbon market is climbing after an intervention meant to grapple with a surplus of credits that has also dogged Europe’s emissions trading system.
**RKB — continues early-week coverage of latest RGGI sale.
Elite flyers pressure United Airlines to act on climate change
A group of United Airlines’ most frequent flyers, including billionaire investor Tom Steyer, on Monday called on the big airline to stop blocking climate change actions.
China’s rich provinces outsource emissions to less developed areas
Rich coastal provinces of China are outsourcing their greenhouse gas emissions by importing goods from less developed provinces, according to scientists. The practice makes it far less likely that China – the world’s biggest emitter – will reach its climate goals, the study published in the Proceedings of the National Academy of Sciences said.
Natural Gas/Coal/Alternative Fuels
Methane leaks could negate climate benefits of US natural gas boom: report
Methane leaks could undo the climate change benefits of America’s natural gas boom, a new report said on Tuesday.
EU Should Move Beyond Carbon Market to Shut Coal, IEA Says
The European Union needs to think of other ways to prevent new coal-fired power stations from being built because its carbon market won’t achieve that this decade, according to the International Energy Agency.
Duke’s Edwardsport coal-fired power plant enters service
Duke Energy Corp’s 618-megawatt (MW) Edwardsport coal-fired power plant in Indiana has entered service, the power company said on Monday, one year late and $1.5 billion over budget.
Petronas sees $20 bln investment in its Canadian LNG project
Malaysian state oil and gas firm Petronas expects investment of $20 billion in its west Canada liquefied natural gas (LNG) export project that aims to meet growing demand in Asia, a senior company official said on Tuesday.
Energy Deal Maker Eyes Big Slice of Pie
The Wall Street Journal
During more than two decades as chief executive of Chesapeake Energy Corp., CHK -0.36% Aubrey McClendon received generous pay packages and freely invested the company’s money to build a natural-gas powerhouse.
Insight: Ethanol lobby sees red over a yellow gas hose in Kansas
At a handful of gas stations in eastern Kansas, the intensifying fight between major oil refiners and the ethanol industry over the future of America’s fuel supply has found a new focus: the color of the gas hose.
Canadian Utility Finds a Use for Detroit’s Pile of Oil Sands Byproduct
The New York Times
In something resembling a bottle return program, Detroit’s enormous petroleum coke pile, a byproduct of Canadian oil sands, is making its way back to Canada.
Hollande calls for action over EU-China solar trade spat
The French President has reportedly called for swift action to resolve an escalating trade war with China over solar power imports, after the Chinese government threatened to drag the wine industry into the row.
Turning cow dung into electricity
Los Angeles Times
Dairy farmer Ron Koetsier’s 1,200 cows produce roughly 90 tons of manure daily, and for the last three decades, he has tried unsuccessfully to turn the stinky dung into energy to power his 450-acre farm in Visalia.
Pentagon green energy award tops $19 billion in May contracts
The Washington Post
The Pentagon bucked the automatic budget-cutting trend last month by going green.The U.S. Defense Department kicked off a renewable energy program with a contract that may reach $7 billion as the Obama administration seeks to curb the military’s fossil-fuel use.
Transport Reaches for the Sun
The Wall Street Journal
A Swiss solar-powered boat is sailing up the East Coast this week as part of a scientific voyage that will take it across the Atlantic Ocean, the latest in a series of international efforts to power vehicles with sunshine.
Canadian Solar Gains on Deal for Ontario Project: Toronto Mover
Canadian Solar Inc. (CSIQ), the Ontario-based solar-panel company with manufacturing operations in China, rose the most in three weeks after announcing a deal to build a 130-megawatt power plant for a unit of Samsung C&T Corp.
SoftBank Unit, Mitsui to Join Green Power to Build Wind Farm
SoftBank Corp. (9984)’s renewable energy unit and Mitsui & Co. (8031), a Japanese trading company, will join Green Power Investment Corp. to build a 48-megawatt wind farm in western Japan.
San Onofre Seen as Latest Setback for U.S. Nuclear Power
Edison International (EIX)’s decision to abandon its San Onofre nuclear plant in California is the latest blow for an industry already facing questions about its long-term survival.
How She Leads: Nawal Al-Hosany, Masdar
Meet Nawal Al-Hosany, director of sustainability at Masdar in the United Arab Emirates, and director of the Zayed Future Energy Prize. She leads Masdar’s sustainability standards and policies team, and oversees sustainability auditing, monitoring and reporting. In 2011, Abu Dhabi Magazine cited Al-Hosany as one of the 40 most influential Emiratis who have helped shape the country. She was also the first female deputy director of the Abu Dhabi Police. Her accolades include the Emirates Business Women Award in the Professional and Career Achievements category. In addition, Al-Hosany is one of the first two Emirati women to have climbed Mt. Kilimanjaro.
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
Clearing the Air: Reducing Upstream Greenhouse Gas Emissions from U.S. Natural Gas Systems (Posted April 8, 2013)
World Resources Institute
The State of Green Business 2013 (Posted February 12, 2013)
Can the US Get There from Here? (Posted February 6, 2013)
The Billion Euro Aviation Bonanza – Aviation’s Participation in the EU ETS (Posted January 22, 2013)