Global energy partnerships dominate in this edition, starting with Bloomberg and Reuters articles about Google’s push into Africa renewable power. Wall Street Journal coverage reveals energy tops the agenda at a couple of upcoming trade trips: China’s Xi Comes Calling on Americas and Japan’s Energy Needs to Top Agenda at Africa Meeting. Also today, a World Bank press release and report (found in our Carbon section) detail that over 40 national and 20 sub-national jurisdictions have either implemented or are considering mechanisms that put a price on carbon.
Quote of the Day:
“An emissions-trading system which would reflect the economic development would solve many problems in today’s energy market, including the fact that power plant investments are based on government subsidies, and not market prices. A well-functioning system would remove the need for renewable energy subsidies, and also for capacity tariffs that are designed to ensure backup supply to smooth out weather-related variations in output.”
–Vattenfall CEO Oeystein Loeseth in Bloomberg’s “Backloading Insufficient to Fix Carbon Market, Vattenfall Says”
Google Backs First Africa Renewable Power and May Invest in More
Google Inc. (GOOG), which has invested more than $1 billion in renewable-energy projects, is considering spending more on clean power in Africa after announcing its first solar investment on the continent.
**RKB — Google’s African power investment history detailed. As for the future, it’s still shopping, including geothermal opportunities in East Africa.
Backloading Insufficient to Fix Carbon Market, Vattenfall Says
The European Union needs a long-term solution to address a glut in its carbon trading system, and a proposed plan to temporarily reduce supply is inadequate, according to Vattenfall AB, the Nordic region’s biggest utility.
**RKB — “We think a price of 40 euros per ton of CO2 is needed long-term, to encourage low-carbon energy production,” says CEO Loeseth.
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.
UN Urges Deeper Pollution Cuts in Biggest Challenge for Humanity
Governments worldwide must step up efforts to save the planet from global warming in the biggest challenge humanity has ever undertaken, according to United Nations’ climate chief Christiana Figueres.
Big firms should report environmental impact -UN panel
Big companies should report their impact on the environment in addition to their earnings under a U.N. plan to boost economic growth and ease poverty by 2030, according to recommendations by a panel of world leaders released on Thursday.
Chris Christie: Climate change a ‘distraction’
New Jersey Gov. Chris Christie was soaking up the revelry around the Jersey Shore’s post-Hurricane Sandy reopening this Memorial Day, ceremoniously cutting a monstrous ribbon and leading President Obama and packs of cameras around the boardwalk.
China’s Xi Comes Calling on Americas
The Wall Street Journal
China’s new leader, Xi Jinping, kicks off his Americas visit in Trinidad and Tobago Friday, a stop that underlines China’s attempt to both secure fresh energy sources and reach out to developing countries.
Japan’s Energy Needs to Top Agenda at Africa Meeting
The Wall Street Journal
Japan is set to announce a series of agreements with African countries to facilitate better access to their fuel and minerals amid intensifying competition with China to tap into the continent’s natural resources.
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
Domestic Carbon Pricing Initiatives Offer Hope for Future Market
World Bank Press Release
From China to California, South Africa to Australia, new carbon pricing initiatives are emerging. Over 40 national and 20 sub-national jurisdictions have either implemented or are considering mechanisms that put a price on carbon,
according to a new report released here at Carbon Expo today.
Mapping carbon pricing initiatives: developments and prospects
Climate: Carbon ‘offsets’ rise 4 per cent in 2012
India’s Economic Times
Trade in carbon offsets, a voluntary means of reducing one’s footprint in global-warming gases, rose by four percent in volume terms last year as the market price of carbon collapsed, a report said on Thursday.
California Carbon Fuel Standard May Remain in Place
California appeals court judges said they may leave the state’s low-carbon fuel standard in place in a case brought by Poet LLC, the second-biggest U.S. ethanol producer.
World’s Largest REDD Project, Rimba Raya, Earns VCS Verification from SCS Global Services
Indonesia’s Rimba Raya Biodiversity Reserve has become the world’s largest verified “Reducing Emissions from Deforestation and Degradation” (REDD) carbon offset project after successfully undergoing a third-party verification by SCS Global Services under the Verified Carbon Standard (VCS). The project will preserve carbon-rich tropical peat swamp and forest, originally slated for development into palm oil plantations, while also providing a critical reserve for endangered Orangutans.
Tensions Simmer in OPEC Over Shale
The Wall Street Journal
OPEC ministers said they were on track for a smooth agreement to maintain their current oil production cap at a meeting Friday, but behind-the-scenes discussions indicated that the group was storing up tensions over the growing impact of U.S. shale oil on some of its members.
U.S. Oil Stockpile Highest in More Than 80 Years
The Wall Street Journal
For anyone still questioning whether the U.S. shale-oil boom is a historic reshaping of the U.S. energy market, today’s Energy Department report on domestic crude-oil stockpiles offers a striking statistic: The U.S. currently has more oil in storage than at any time since 1931.
Buffett’s MidAmerican Expands West With $5.6 Billion Deal
Warren Buffett’s energy unit will consolidate a western expansion begun in 2005 with its planned $5.6 billion acquisition of Nevada’s largest utility, potentially reigniting takeovers in the sector.
RWE May Win 500 Million-Euro Loan From EIB for German Wind Farm
RWE AG (RWE), Germany’s second-largest utility, may win a 500 million-euro ($649 million) loan from the European Investment Bank to develop an offshore wind farm.
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)