In this edition, two reports on the European Commission draft release with 2030 green energy targets, including the broad overview from Reuters, while Bloomberg’s piece emphasizes role of carbon capture. Meanwhile, Democrats Circulate Carbon Tax Bill, reports The Hill.

Quote of the Day:

“There are a number of us who plan on speaking every day on the House floor on the need for Congress to take action on climate change. We’re making this commitment because this chamber is filled with such a large collection of climate deniers. It’s here in Congress, though, where a long-term strategy to address this issue will have to be crafted if we’re to avoid the worst-case scenario and the catastrophic consequences of climate change.”

–Rep. Jim Moran (D-Va.) in The Hill’s “Dems launch series of climate change speeches to fight GOP ‘climate deniers’”

Lead Stories

European Commission outlines 2030 green energy goals
The European Commission has outlined new targets for cutting greenhouse gas emissions and using more green energy by 2030, according to a policy paper seen by Reuters.
**RKB — Key numbers: The new paper puts forward the idea of a 40 percent cut in carbon emissions versus 1990 levels and a goal that renewables will supply 30 percent of all energy needs, both by 2030. It stops short of any number for a new energy savings target. That compares with three 2020 policy goals to cut carbon emissions by 20 percent, increase renewables to 20 percent and improve energy savings by 20 percent.

Carbon Capture Vital for EU as Fossil Fuels to Stay, Draft Shows
The European Union will seek to promote the deployment of technology to capture carbon dioxide to attain its climate goals as fossil fuels are to remain a part of the bloc’s energy mix, according to a draft EU document.

EU Carbon Sale Fails for First Time as Bids Miss Reserve Price
The European Union canceled an auction of carbon emissions permits for the first time as bids failed to reach the bloc’s secret reserve price.

Trading on environmental commodities in future
Northern Star blog (Australia)
ENVIRONMENTAL commodities like carbon have become new financial instruments in trading markets and could soon be considered a common tradeable commodity along with the likes of wheat and oil.
**RKB – Blogger Scott Niblock is a lecturer in Finance at the Southern Cross Business School at Southern Cross University.

OPEC: U.S. Shale Oil to Cut Into Demand
The Wall Street Journal
The Organization of the Petroleum Exporting Countries cut its forecast of demand for its oil this year, citing growing production from U.S. shale deposits.

Ryan budget would approve Keystone pipeline, open more land for drilling
The Hill’s E2 Wire
The House GOP budget plan that Rep. Paul Ryan (R-Wis.) will unveil Tuesday requires federal approval of the proposed Keystone XL oil sands pipeline, underscoring how the project has become a top policy and messaging priority for Republicans.
**RKB: Ryan’s Wall Street Journal Op-Ed on budget plan rollout here.

Lord Browne promises to invest ‘whatever it takes’ in UK fracking
The Guardian
Lord Browne, the former chief of BP and now the most senior business adviser to the coalition government, has vowed to defy environmentalists to invest “whatever it takes” – potentially running to billions of pounds – in the controversial UK “dash for gas“.

Could melting glaciers slow down climate change?                      
As glaciers and ice sheets melt and flood the world, they are releasing a type of nutrient that’s lapped up by tiny creatures that could help reduce global warming.

Dems launch series of climate change speeches to fight GOP ‘climate deniers’
The Hill’s E2 Wire
House Democrats will make a series of speeches on the House floor in the coming weeks to call for a congressional response to climate change.


Wall Street Green Summit XII
March 18, 2013
Center for Architecture, New York

Navigating the American Carbon World (NACW) 2013
San Francisco April 16-18


Deutsche Bank Tax Manager Said to Be CO2 Probe Suspect
Deutsche Bank AG (DBK)’s head of tax for continental Europe is among the suspects in Frankfurt prosecutors’ investigation of carbon-emission certificate trades, two people familiar with the matter said.

Democrats Circulate Carbon Tax Bill
The Hill’s E2 Wire
A bicameral group of Democrats floated draft legislation Tuesday that would impose a per-ton fee on carbon emissions from the nation’s largest polluters, such as electricity generators and petroleum refineries.
**RKB — Interesting, if still a little vague, for its multi-agency design.

Natural Gas/Coal/Alternative Fuels

RWE hires Goldman to sell oil and gas exploration unit-sources
Germany’s second biggest utility RWE has hired Goldman Sachs to sell its oil and gas exploration unit DEA, two people familiar with the matter told Reuters.

Biofuels boom threatens to disrupt global biodiversity
The rush around the world to plant crops used to produce biofuel has not only sparked a global food vs. fuel debate, but it’s also putting biodiversity at risk.

Second generation biofuels on verge of cost breakthrough
Business Green
Developers of second generation biofuels made from non-food crops and waste material are on track to deliver fuels that are cost-competitive with ethanol and conventional fossil fuels by the second half of this decade.


Merkel Government Seeks to Speed Up German Power Line Expansion
Chancellor Angela Merkel’s government wants to speed up the modernization of Germany’s power grid to protect supplies as Europe’s biggest economy shifts its generation mix away from nuclear energy.

Planners double capacity of UK-France Channel tunnel power cable
Developers plan to double to 1,000 megawatts the capacity of a proposed cable connecting the French and British power markets through the Channel tunnel.

Europe Gas Carnage Shown by EON Closing 3-Year-Old Plant
Three years ago, Germany’s largest utility spent 400 million euros ($523 million) building a natural gas-fired power station. Later this month, the company may close the plant because it’s losing so much money.

Analysis: Solar trade war promises order bonanza for Taiwan
Business has been booming for Taiwanese solar companies since they became the middlemen in a trade war between the United States, China and Europe over the multi-billion dollar solar power equipment market.


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)

Power Forward: Why the World’s Largest Companies are Investing in Renewable Energy (Posted Dec. 11, 2012)

Stock Exchange Benchmark On Non-Financial Reporting Rules (Posted Dec. 6, 2012)

View all reports >

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