In this edition, reported progress with an EU carbon draft, in Bloomberg’s EU Parties’ Negotiators in Draft CO2 Deal, Seeber Says. Spending on renewable investment fell last year for the first time since 2009, according to a Reuters article, Global renewables investment fell in 2012 on weak economy. And, elsewhere, California Energy-Storage Plan May Require $3 Billion Investment.

Quote of the Day:

“This is a very strange way to make policy about something this important. [The Obama administration] hasn’t always leveled with us about what is happening behind closed doors.”

–Tufts economist and global warming author Frank Ackerman speaking on the administration’s social cost rule in Bloomberg’s “Obama Quietly Raises ‘Carbon Price’ as Costs to Climate Increase”


Lead Stories

EU Parties’ Negotiators in Draft CO2 Deal, Seeber Says
Climate negotiators from political groups in the European Parliament’s environment committee reached a tentative compromise on a fix for the world’s biggest carbon market, according to a European Union lawmaker.
**RKB — From the article: Today, we found a compromise mainly between EPP, Socialists and Democrats, and Alliance of Liberals and Democrats for Europe, which is heavily improving the original proposal of the European Commission. Support from the three parties would ensure a majority in favor of the compromise agreement.”

Europe must cut emissions 55 per cent by 2030 to tackle carbon credit glut
Business Green
The European Commission should aim to cut greenhouse gas emissions 55 per cent against 1990 levels by 2030 if it is to tackle the glut of allowances that has undermined the price of carbon in its flagship emissions trading scheme (ETS).

China gets tough on carbon
China, responsible for about one-quarter of the world’s carbon dioxide emissions, has ambitious goals to reduce them — but has been unwilling to set absolute targets for fear of slowing economic growth. There are now signs that its position is changing.
**RKB — Interesting when you consider that a scientific journal offers this sum of market plans. An optimistic top to this article but more cautionary analysis about China’s efforts toward the bottom.

International Energy Agency report hopeful, but is it unrealistic?
Climate Spectator
The International Energy Agency’s (IEA) latest report repeats the message we’ve heard from many sources – we’re heading for a temperature rise of much more than 2 degrees Celsius. But given its international reach and expertise, the agency is uniquely placed to recommend what we can do to fix the problem. They’ve come up with four recommendations, and they’re emphasising some surprising things.

Global renewables investment fell in 2012 on weak economy
Global investment in renewable energy fell last year for the first time since 2009 due to the effects of economic slowdown on U.S. and European markets and a drop in solar technology costs, research showed on Wednesday.

Obama Quietly Raises ‘Carbon Price’ as Costs to Climate Increase
Buried in a little-noticed rule on microwave ovens is a change in the U.S. government’s accounting for carbon emissions that could have wide-ranging implications for everything from power plants to the Keystone XL pipeline.
**RKB — article takes aim at the administration for sneaking this one in. The increase of the so-called social cost of carbon, to $38 a metric ton in 2015 from $23.80, adjusts the calculation the government uses to weigh costs and benefits of proposed regulations. The figure is meant to approximate losses from global warming such as flood damage and diminished crops. The quiet way it was announced has some analysts scratching their heads.

Merkel Targets Renewables to Support More Grid Costs
Chancellor Angela Merkel said renewable power producers should be forced to pay more for supporting upgrades of Germany’s electricity grid, signaling “substantial” changes ahead for the nation’s clean energy law.

Ceres Study: Most Mutuals Not Supporting Climate Issues
Environmental Leader
More than 80 percent of major mutual fund companies supported less than half of the 2012 climate-related shareholder resolutions covered in a report by sustainability leadership advocate Ceres.

Althelia Raises $80 Million For REDD And Ecosystem Services
Ecosystem Marketplace
If Christian del Valle is right, the Althelia Climate Fund will make money over the next eight years for the Church of Sweden, the European Investment Bank, the Finnish Fund for Industrial Cooperation (Finnfund), and the Dutch Development Bank (FMO, Financierings-Maatschappij voor Ontwikkelingslanden). It will do this by investing in certified commodities, sustainable agricultural produce, carbon credits, and other ecosystem-service projects across Latin America, Africa, and Asia – spawning in the process imitators who will funnel billions into sustainable land-use projects around the world.


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


EU Carbon Market Surplus Squeezing Climate Goals
Environmental Leader
A surplus of Emissions Trading Scheme (ETS) carbon permits will require the European Union to cut emissions by an extra 7 percentage points to meet its 2030 climate goals, according to a report by environmental research company Ecofys.

Natural Gas/Coal/Alternative Fuels

Allete to reduce emissions at Minnesota coal-fired power plant
Minnesota utility regulators approved Minnesota Power’s $350 plan to retrofit the 585-megawatt Unit 4 at the Boswell coal-fired power plant to reduce mercury emissions to comply with stricter federal environmental regulations.

Canadian Regulator Waives Oil-Sands Enforcement Penalties
The Wall Street Journal
CALGARY—Canadian oil sands producers failed to meet promised targets for reducing toxic waste, but the chief provincial regulator has waived enforcement penalties, citing progress the industry has made introducing new technology.


Kuwait Invites Bids for Clean-Energy Park to Save Oil for Export
Kuwait invited proposals for the first phase of a renewable-energy park as it plans to generate 15 percent of its electricity from sustainable sources by 2030.

Saudi Aramco to Use Soitec’s Solar Systems in Pilot Project
Saudi Arabian Oil Co., the world’s largest crude exporter, will evaluate Soitec (SOI)’s solar energy systems for possible utility-scale deployments.

California Energy-Storage Plan May Require $3 Billion Investment
Energy companies may invest as much as $3 billion on power-storage systems in California to facilitate wider use of renewable energy.

Australia renewables fund courts controversy with first investment
A renewable energy fund financed by the Australian government is set to sign a deal to help New Zealand’s Meridian Energy increase its debt in a major wind project, freeing up more cash for the state-owned generator ahead of its planned IPO, three sources close to the deal said.

COLUMN-UK shows offshore wind can flourish at a price: Gerard Wynn
The majority of British offshore winds farms are winning planning permission and proceeding to construction, suggesting that a large portion of those with outstanding applications will be built.

AEP to add wind power in mid-west U.S. to meet renewable demand
U.S. power company American Electric Power Co Inc (AEP) will increase the amount of wind power it delivers in Indiana, Michigan and Oklahoma as consumers demand more renewable energy.

Renewable Energy Investments Shift to Developing Nations
Renewable energy investments are shifting to developing nations as countries from Morocco to Chile pursue power sources that wean them off fossil fuel imports, two studies promoted by the United Nations said.


Brazil Group Approves $237 Billion of Water Investments
Brazil’s national cities council, an advisory group created by the government, approved a 508.5 billion-real ($237 billion) sanitation plan aimed at boosting water-supply and sewage-treatment infrastructure investments.

Sacyr Gets $78 Million Contract to Build Two Peru Hydro Projects
Sacyr Vallehermoso SA (SYV), the Spanish construction company, won a 59 million-euro ($78.4 million) contract to build two hydroelectric power plants in Peru.


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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