In this edition, follow-up to the weekend China-U.S. HFCs deal and its bigger potential implications in Reuters’ U.S.-China climate deal called “breakthrough” but no long-term cuts yet. Plus, EU Carbon Glut Means More Cuts Needed for 2030 Goal, Ecofys Says. And, investors sign climate declaration ahead of Global Investor Forum in Hong Kong this week. We’ve got their press release.

Quote of the Day:

“Having the US and China produce encouraging data together gives me a glimmer of hope for the Paris meeting and beyond.”

–IEA Economist Fatih Birol in the Financial Times’ “Action by China and US boosts chances of global climate deal”

Lead Stories

EU Carbon Glut Means More Cuts Needed for 2030 Goal, Ecofys Says
A record surplus of carbon permits in the European Union’s emissions trading system will make it harder for the bloc to meet its 2030 climate goals, according to a report by Ecofys, the environmental research company.
**RKB — Any successful plan would need to address pre-2020 surplus, Ecofys says.

U.S.-China climate deal called “breakthrough” but no long-term cuts yet
China and the United States took a major step in the fight against climate change over the weekend, but what was termed a “breakthrough” might not do much in the longer term to lock in legally binding carbon emission cuts from the world’s two biggest emitters of greenhouse gases.
**RKB — One observer says the constraints of U.N. climate talks have created the need for diplomatic moves outside of that process, such as the U.S.-China HFC agreement. “This is the beginning of a movement to enlist more climate mitigation from parallel venues,” he said.

Action by China and US boosts chances of global climate deal
Financial Times
China and the US made such strides tackling their carbon dioxide emissions last year that they have boosted the chances of sealing a long-sought global climate deal, the world’s energy watchdog said on Monday.

22 U.S. Investors Sign Climate Declaration, Joining Call to Action on Climate Policy
Press Release
On the eve of the inaugural Global Investor Forum on Climate Change on June 13-14 in Hong Kong, a total of 22 American investment firms with approximately $240 billion in assets under management, led by the California State Teachers’ Retirement System (CalSTRS) and the Oregon State Treasurer’s office, have signed the Climate Declaration, calling on U.S. policymakers to seize the American economic opportunity of addressing climate change.

COLUMN-Montreal Protocol shows way for climate action: Wynn
A new deal to curb carbon emissions could copy features from the Montreal Protocol, which the United States and China favoured over its Kyoto counterpart in an agreement on greenhouse gases at the weekend.

Why India Can’t Unlock Its Shale Gas
The Wall Street Journal
India is hoping to unlock its shale gas reserves, which are spread across wide and difficult to reach terrain, by inviting investments from private companies.

Climate Policies in Coal-Dependent Australia Leading to Surging Wind Development
Renewable Energy
Australia’s wind development is driven by clean energy mandates, but the Gillard government’s carbon tax has rendered building new coal plants non-competitive. Export policies for fossil fuels is beginning to fast-track liquefied natural gas out of the country to supply a very lucrative market in Asia.

Asia’s Environmental Activists Spread Their Roots
The Wall Street Journal
DAWEI, Myanmar—Dressed in a sarong and sunglasses, Ko Lay Lwin recalls the moment he became an environmental activist. Surveyors had appeared outside his wooden, A-frame home and were taking measurements, so he asked what was going on.


Waste Conversion Congress East Coast
Boston, Massachusetts
June 17-18

2013 Rising Seas Summit
Association of Climate Change Officers
Fort Lauderdale, Florida
June 18-20

New York Energy Week
New York, NY
June 24 -28

Converge Paris
Sustainable Energy Tech Conference
Paris, France
June 24-28

EMA’s 17th Annual Meeting
September 25-27, 2013
Monte Carlo Resort, Las Vegas, NV


RGGI Carbon Price Rises 15%
Environmental Leader
The 20th carbon emissions allowance auction conducted by the Regional Greenhouse Gas Initiative (RGGI) for 9 participating northeastern and mid-Atlantic states was sold out of all 38.7 million allowances at a clearing price of $3.21 per short ton, a 15 percent mark-up from the last auction in March.

Worry over scarcer credits propels US carbon market RGGI
Financial Times
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. Last week’s quarterly auction by the Regional Greenhouse Gas Initiative, operated by nine northeast states, was twice oversubscribed. The clearing price of $3.21 per short tonne was the highest in four years.

Natural Gas/Coal/Alternative Fuels

EIA raises U.S. natgas production estimate for 2013
The U.S. Energy Information Administration on Tuesday raised its estimate for domestic natural gas production in 2013, saying it expected output this year to be up about 1.2 percent from 2012’s record-high levels.

Chevron CEO Says Industry Must Deal With Fracking Concern
Energy producers must deal with the “legitimate concerns” that gas development associated with hydraulic fracturing is unsafe by adopting tougher standards, Chevron Corp. (CVX) Chief Executive Officer John Watson said.

Chevron CEO says U.S. ethanol mandate could spur gasoline exports
The U.S. ethanol mandate could boost domestic gasoline prices as refiners get around the requirement by exporting more gasoline, the CEO of oil major Chevron Corp said on Tuesday.

Brazil’s Petrobras to import more LNG in 2013
Brazil’s state-controlled oil and gas company Petrobras will import about 60 cargoes of liquefied natural gas (LNG) in 2013, up from 56 in 2012, due to increased demand from power plants, a company manager of gas and energy said on Tuesday.

Petronas’s LNG Plan
The Wall Street Journal
Malaysia’s state-owned energy giant, Petroliam Nasional Bhd., said it is prepared to invest $20 billion in a liquefied-natural-gas project in British Columbia, upping the ante in a bid to remake North America into a global export hub for natural gas.

Rio Tinto Moves Closer to Selling Coal Assets
The Wall Street Journal
Rio Tinto PLC moved closer to selling about $3 billion in coal assets after receiving expressions of interest from three potential bidders.

Undervalued Coal Leases Seen as Costing Taxpayers
The New York Times
The Interior Department is failing to collect tens of millions of dollars in lease payments for coal mining on federal lands, according to an agency inspector general’s report released Tuesday.

China coal import ban sparks industry battle
Financial Times
Two of China’s most powerful energy lobbies are at loggerheads over a controversial proposal to ban imports of low quality coal which, if implemented, could radically reshape the global coal trade.


Vestas Wins Order for GDF Suez Wind Project in South Africa
Vestas Wind Systems A/S (VWS), a Danish wind-turbine maker, will supply a 160 million-euro ($213 million) project in South Africa as the country seeks to reduce its dependence on coal-fired energy.

DCNS and Ocean Thermal Agree to Develop Power Plants Together
Ocean Thermal Energy Plc, a London-based clean-energy technology company, agreed to work with French engineering company DCNS SA to develop and build plants to generate power using differences in sea temperatures.

Fortum Buys India Solar Plant, Plans More Investment
Fortum Oyj (FUM1V), Finland’s largest power utility, has bought a 5-megawatt solar power plant in India, where it plans further investments.

Atomic Power’s Green Light or Red Flag
The New York Times
WAYNESBORO, Ga. — The two nuclear reactors rising out of the red Georgia clay here, twin behemoths of concrete and steel, make up one of the largest construction projects in the United States and represent a giant bet that their cost — in the range of $14 billion — will be cheaper than alternatives like natural gas.

Asia Report: Japan’s Solar Market Shifts Into Overdrive
Renewable Energy
What’s the hottest solar end-market region on the planet? Japan is making a strong case for top billing in 2013, according to recent analysis.


Borealis Group Abandons $8.3 Billion Bid for Severn Trent
Borealis Infrastructure Management Inc. and its Kuwaiti-British partners walked away from their 5.3 billion-pound ($8.3 billion) offer for the U.K. water utility Severn Trent Plc (SVT) as the bid deadline expired.

Desalitech Gets Liberation Capital Investment for Water
Desalitech Ltd., a Boston-based company specializing in desalination and industrial water-treatment technologies to lower costs and energy consumption, will receive $5 million more from Liberation Capital.


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)
Ecosystem Marketplace

Mapping carbon pricing initiatives: developments and prospects (Posted May 30, 2013)
World Bank

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)

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