Today’s top stories focused largely on the global carbon markets, which despite the lack of US coverage, showed surprising strength in 2011, according to Reuter’s “Global carbon market value rises to record $176 bln.” There was also in interesting piece on RECs in India making their debut on an exchange in the Economic Times’ piece “Solar RECs listed on Power Exchange for first time.”

Quote of the Day:

“There is a question over whether [prices] are high enough to support new projects coming in.”

-Alexandre Kossoy, senior financial specialist with the World Bank’s Carbon Finance Unit in Reuters’ piece “Global carbon market value rises to record $176 bln.”

Lead Stories

Commentary: Renewed Energy

Welcome to the new JLN Environmental/Energy Newsletter, the sequel if you will, to Environmental Markets Newsletter (EMN), launched in May 2006. JLN Environmental/Energy is designed to bring readers the full picture and intersection of emissions markets and energy markets.  The focus will remain firmly on carbon markets and related markets such as natural gas, power and coal. We’ll add coverage of other markets such as Renewable Energy Credits (RECs), water and other markets as stories emerge. We’ll  also add original content periodically and of course, welcome contributions and feedback. Every publication should be a work in progress that adjusts to the topic being covered and JLN Environmental/Energy is no different.

Also, all of the newsletters can be found at www.jlnenvironmental.com, which now runs on the WordPress backbone. Each day’s edition can be found there simply by hitting the “Continue Reading” button under each date.  We hope you find the sequel even better than the first.

Global carbon market value rises to record $176 bln
Reuters
Carbon market trading rose 11 percent to a record value of $176 billion in 2011 as an increase in secondary trading volumes offset lower prices and slowing economies, the World Bank said on Wednesday.”
http://jlne.ws/Ky5A68
**JK – Trading in secondary UN offsets rose 43 percent.

THE REPORT
State and Trends of the Carbon Market 2012 (Executive Summary)
World Bank
http://jlne.ws/LURY4m
Full report can be accessed HERE.

Bilateral Carbon Trade Surged Last Year, World Bank Says
Bloomberg/Businessweek
EU greenhouse-gas trades that didn’t involve exchanges or brokers surged to $17.3 billion, the bank said today in its yearly report on CO2 markets. ICE Futures Europe suspended prompt trading in January last year after thefts of allowances roiled buyers. BlueNext SA, the Paris spot exchange that also temporarily halted transactions, reopened for trading Feb. 4.
http://jlne.ws/KJdRTx  

On Climate Change, It’s Money vs. Mouth
The New York Times
A number of major United States corporations publicly support climate change science but contribute heavily to politicians and research groups that deny or play down the threat of global warming, according to a new study from the Union of Concerned Scientists.
http://jlne.ws/KdG486

THE REPORT:
A Climate of Corporate Control
Union of Concerned Scientists
http://jlne.ws/Kebnz5

Despite G8 Pledge, Divergent Climate Change Approach Remains
The International.org
Leaders of the world’s most developed countries, the Group of Eight, gathered on May 18th in the state of Maryland to discuss pursuing sustainable energy and low carbon policies. They reached an agreement to support the Climate and Clean Air Coalition, a US-led coalition that aims to reduce short-lived pollutants, which includes black carbon, hydrofluorocarbons, and methane. In a joint-statement about the meeting, leaders have declared their intention to meet their energy needs “from a wide variety of sources ranging from traditional fuels to renewables to other clean technologies,” pledging to do so “in an environmentally safe, sustainable, secure, and affordable manner.”
http://jlne.ws/MYYwks

Solar RECs listed on Power Exchange for first time
The Economic Times
In a first, as many as 100 solar renewable energy certificates (RECs) were traded on the Power Exchange of India (PXIL), out of which five were bought at a price of Rs 13,000 per certificate.
http://jlne.ws/LK7l02

Grassley: Wind power tax credit renewal unlikely until after election
TheGazette
U.S. Sen. Chuck Grassley told employees at the Acciona Windpower wind turbine plant here that Congress will probably renew a key tax credit for their industry, but not soon enough to avoid a slump in business.
http://jlne.ws/Kt4dFJ

U.S. Imposes Duties on Chinese Wind Towers
The New York Times
Chinese manufacturers of towers for wind turbines got unfair subsidies and must now pay duties of 13.7 to 26 percent, the Commerce Department said on Wednesday in a preliminary decision in a case brought by four American manufacturers of the towers.  
http://jlne.ws/L01SiD

Voluntary Carbon Report To Show Surge In Carbon Funding For Clean Cook
Ecosystem Marketplace
Specifically, the report shows that carbon finance for clean cookstoves soared at least 40% in 2011 – an environmental development hat’s also a development and health win. On the development front, clean cookstoves require less fuel, while on the health front, they don’t cause pneumonia, emphysema, lung cancer, or bronchitis.
http://jlne.ws/LgCfKE

EU CO2 prices to treble on supply cut: survey
Reuters Point Carbon
European carbon prices could treble from current levels to average above 19 euros ($23.80) over the next eight years provided European governments cut supply of permits, according to a survey by consultants PwC.
http://jlne.ws/M8UBT7
**JK – Sure, and so could nat gas and crude prices. I’m not sure of the value in 8-year projections.

IEA: electricity market reform may cost businesses
Business Green
The electricity markets reforms outlined in last week’s draft Energy Bill are untested and could increase costs for businesses, the International Energy Agency (IEA) said today.
http://jlne.ws/L6TSgr

Events

Carbon Expo
May 30 – June 1, 2012
Cologne, Germany
http://jlne.ws/Av2BGb

Responsible Business Summit
Asherleaf
June 27 -28, 2012, New York
http://jlne.ws/I9JaGh

Carbon Forum North America
October 1-2, 2012
Washington, DC
http://jlne.ws/zDe43B

Sustainability Summit – Innovation Challenge
October 9, 2012
New York
http://jlne.ws/wKbX7U

Carbon

PGE Says Belchatow Carbon Capture Project Needs State Support
Bloomberg
PGE SA (PGE) said it’s in “no position” to start a project that would trap and bury emissions from a power plant in Belchatow without incentives.
http://jlne.ws/L6NllJ

GreenX: Consolidation of National Registries into a New Union Registry for European Emission Contracts Scheduled for June 2012 and Partial Delisting of Contracts During Transition Period
The Green Exchange Press Release
The European Commission has announced the full activation of the EU Emissions Trading Scheme single registry and migration of thousands of EU ETS accounts from national registries into the new Union Registry. The Union Registry transition period is scheduled for June 3, 2012 through June 20, 2012.
http://jlne.ws/JWF0iC

Danone: why carbon reduction is key
Guardian
Danone, the French food company behind Activia yoghurts, Evian water and Cow&Gate baby food, has left few stones unturned in an ambitious bid to cut its carbon footprint by 30% in the four years to 2012.
http://jlne.ws/JALtVv

Natural Gas/Coal

Even in Coal Country, the Fight for an Industry
The New York Times
LOUISA, Ky. — For generations, coal has been king in this Appalachian town. It provided heat, light and jobs for the hundreds of people who worked in the nearby coal mines and the smoke-coughing Big Sandy power plant that burned their black bounty.
http://jlne.ws/LKhTMO

U.S. Gas Exports Put on Back Burner
The Wall Street Journal
The Obama administration is telling Japan and other allied countries they will have to wait before moving forward on plans to buy American natural gas, people involved in the talks said.
http://jlne.ws/MYZTzH

Obama’s Aide on Climate Change Seeking Oil, Gas Allies
Bloomberg
Heather Zichal spent her early days in the Obama administration pushing a climate-change bill in Congress that oil and gas companies helped to derail.
http://jlne.ws/KdCWJl

FACT CHECK: Oil stats belie tough enforcement talk
AP
In the three years since President Barack Obama took office, Republicans have made the Environmental Protection Agency a lightning rod for complaints that his administration has been too tough on oil and gas producers.
http://jlne.ws/Kta2ms

Power

U.K. Energy Policy May Fail to Meet Carbon Goals, IEA Says
Bloomberg
The U.K.’s energy policies may fail to deliver nuclear power and renewables needed for the nation to meet its goals for reducing greenhouse gases, the International Energy Agency said.
http://jlne.ws/KUFtWp

Report: Geothermal could meet a fifth of UK electricity demand
Business Green
Spending 11m sterling a year to raise subsidies for geothermal energy projects could help build an industry capable of supplying 20 per cent of the UK’s electricity needs, according to a new report.
http://jlne.ws/KXIkK4

LDK Solar ‘Fantasy Land’ Forecast Belies Debt, U.S. Duty
Bloomberg
LDK Solar Co. (LDK) the world’s second- largest maker of solar wafers, lost 38 percent of its market value in four trading days as analysts cut estimates today and questioned whether its balance sheet can withstand a global oversupply and threats from U.S. tariffs.
http://jlne.ws/KULP88

Yingli Sees China Demand for Solar Growing 36% in 2012
Bloomberg
Yingli Green Energy Holding Co. (YGE), China’s second-biggest solar-panel maker, expects domestic sales to increase by 36 percent this year as the country’s subsidy program accelerates.
http://jlne.ws/NgiAg7

U.S. Sets Duties as High as 26% on Wind Towers From China
Bloomberg
The U.S. Commerce Department set duties from 13.74 percent to 26 percent on imports of wind towers from China used by the energy industry, siding with U.S. manufacturers including Broadwind Energy Inc. (BWEN).
http://jlne.ws/JuUBpW

Shanghai Donghai to Expand China’s Major Offshore Wind Farm
Bloomberg
Shanghai Donghai Wind Power Co., which developed the nation’s first large-scale offshore wind farm in the city, will invest about 1.9 billion yuan ($300 million) in a 100-megawatt offshore facility next year.
http://jlne.ws/JRkuld

Spain Ejects Clean-Power Industry With Europe Precedent: Energy
Bloomberg
Spanish renewable-energy companies that once got Europe’s biggest subsidies are deserting the nation after the government shut off aid, pushing project developers and equipment-makers to work abroad or perish.
http://jlne.ws/L6LP2Y

RECs

Renewable Energy in Today’s Data Center
Data Center Knowledge
Much has been said about Greenpeace’s recent “How Clean is Your Cloud?” name-and-shame campaign where the advocacy group graded the top names in the data center world for their use of clean energy. It is well established that data centers are one of the fastest growing users of energy, which makes them an easy target for criticism. Counter to the Greenpeace report, a great deal of progress has been made in this area by the very giants in the data center industry that they are criticizing.
http://jlne.ws/L3Oqy7
**JK – Small mention of RECs here, as well as carbon offsets.

Maryland Governor O’Malley Signs Landmark Geothermal Heat Pump Bill
Water Well Journal
Maryland Governor Martin O’Malley signed the Renewable Energy Portfolio Standard Geothermal Heating and Cooling bill (SB 652) into law, making Maryland the first state in the nation to allow utilities to claim credits for the installation of geothermal heat pumps. The measure passed the state legislature on April 13, 2012.
http://jlne.ws/JuTbeW

Miscellaneous

Brazilian Forest Code May Return After Rio
Ecosystem Marketplace
Brazilian President Dilma Rousseff won accolades last week for her partial vetoes of the country’s new Código Florestal (Forest Code), a controversial update to a law that for decades restricted the amount of privately-owned rainforest that can be cleared for development.forest code The veto, however, may simply send the bill into limbo until after the upcoming United Nations Conference on Sustainable Development (Rio+20), which takes place in Rio de Janeiro, Brazil, from June 20 to 22 and makrs the 20th anniversary of the 1992 Earth Summit that launched UN conventions on climate change, desertification, and biodiversity.
http://jlne.ws/LHkwef

Reports

Tackling exposure: placing disaster risk management at the heart of national economic and fiscal policy (Posted May 22, 2012)
http://jlne.ws/JArFwf

Fossil fuel price shocks and a low carbon economy (Posted May 21, 2012)
Oxford/DECC
http://jlne.ws/JgVKG9

Using the Allowance Value from California’s Carbon Trading System: Legal Risk Factors, Impacts to Ratepayers and the Economy (Posted May 17, 2012)
Next10
http://jlne.ws/KEYcW5.

Inclusive Green Growth: The Pathways to Sustainable Development (Posted May 9, 2012)
World Bank
http://jlne.ws/IJXP8B

Meeting Canada’s 2020 Climate Change Commitments (Posted May 8, 2012)
Office of Auditor General
http://jlne.ws/K9Lxvd

View all reports >

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