In this edition, the Day 2 election stories flow, including this one from Bloomberg “Obama May Levy Carbon Tax to Cut U.S. Deficit, HSBC Says” and from the other side of the globe “Japan Takes Different Tack on Climate-Change Efforts.” There’s more on Australia’s carbon markets in “Australia’s Biggest Carbon Developer to Start Trading EU Permits” and
“Trading in First Carbon Units Shows Progress in Australia.”

Quote of the Day:

“Cap-and-trade has been demonized. . . We’ve lost our moral authority in the U.S. You haven’t here in Europe.”

–Carbon Trading Pioneer Richard Sandor at London book presentation for “Good Derivatives” covered in the  Bloomberg story “Obama May Levy Carbon Tax to Cut U.S. Deficit, HSBC Says”

Lead Stories

Obama May Levy Carbon Tax to Cut U.S. Deficit, HSBC Says
Barack Obama may consider introducing a tax on carbon emissions to help cut the U.S. budget deficit after winning a second term as president, according to HSBC Holdings Plc.

Japan Takes Different Tack on Climate-Change Efforts
The Wall Street Journal
Japan is sidestepping multilateral efforts to limit greenhouse-gas emissions, working with Indonesia and other Asian countries on a bilateral basis to tackle climate change.

Reid on climate change: ‘I hope we can address it’
The Hill’s E2 Wire
Senate Majority Leader Harry Reid (D-Nev.) said Wednesday that he hopes the Senate will act to address climate change. But he didn’t say how.

Why Climate Disasters Might Not Boost Public Engagement on Climate Change
The New York Time
There has been an intense rush to use Hurricane Sandy as a teachable moment to focus the public (and politicians) on the risks of an unabated buildup of greenhouse gases and resulting global warming. The climate campaigner Dan Miller epitomized that approach in a discussion here last week.

Harsher energy regulations seen in Obama’s second term
Energy producers braced for tighter regulation in President Barack Obama’s second term, with coal companies expecting more emissions restrictions and drillers anticipating less access to federal land even as his platform promotes energy independence.

Obama could put heat on drillers but stall gas exports
Barack Obama could toughen regulations on producing and burning natural gas, coal and oil early in his second term, raising some costs for energy companies, analysts said.

Reps. Smith, Sensenbrenner, Rohrabacher stake claims to Science Committee gavel
The Hill’s E2 Wire
The race to be the next chairman of the House Science, Space and Technology Committee is getting under way.

Green groups tout election results as victory for clean energy
The Hill’s E2 Wire
Green groups are touting their spending in key congressional races, claiming their efforts helped elect candidates supportive of their push for clean-energy sources.

REDD+ and market: Any lessons to be learned from voluntary carbon markets?
Forest Carbon Asia
The idea of linking sustainable forest management to the market economy for addressing climate change was first introduced in the 1990s. It promised to raise substantial additional finance for protecting critical forests and to change the way forests are managed and linked to the wider economy. The Voluntary Carbon Market (VCM) has been part of the international forestry dialogue for well over a decade now. What lessons can we learn from it that could be relevant for REDD+?

U.S. to Hit China With Solar-Panel Tariffs
The Wall Street Journal
The U.S. will soon impose tariffs on imported Chinese-made solar panels after a decision by a U.S. trade panel Wednesday, escalating a trade spat that until now was based on preliminary taxes on imports.


Doha Climate Change Conference
United Nations Framework Convention on Climate Change
Nov. 26-Dec. 7, 2012


Australia’s Biggest Carbon Developer to Start Trading EU Permits
Climate Bridge, Australia’s largest developer of emission credits under the Clean Development Mechanism, will start a trading business focused on permits from Europe and other international markets.

Trading in First Carbon Units Shows Progress in Australia
Australia’s top emissions regulator says the national carbon market is stepping up to the next level as the government gives away the first permits to polluters ranging from Rio Tinto Group to Alcoa Inc. (AA), with banks showing an interest in buying the units.

Natural Gas/Coal

Two pro-Keystone pipeline Dems have good nights
The Hill’s E2 Wire
A pair of red-state Democrats that support the proposed Keystone XL oil sands pipeline won tight Senate races.


Vestas Seeks 20 Percent Stake Sale, Cuts 3,000 More Jobs
Vestas Wind Systems A/S (VWS) is seeking to sell a stake of as much as 20 percent and said it’s reducing headcount by 3,000 to raise the staff cuts by the biggest wind turbine maker to almost a third over two years.

Michigan Rejects Increase to Renewable Energy Requirement
Voters in Michigan rejected a proposed constitutional amendment that would raise to 25 percent the amount of electricity state utilities must get from renewable sources by 2020.

India Seeks to Enforce Renewable Targets on Reliance, Tata Steel
Reliance Industries Ltd. (RIL) and Tata Steel Ltd. are among 50 companies who’ve been sent letters by the Indian government to ensure they comply with clean-energy targets or face fines, an official said.

Nigeria, China’s Sinohydro Sign Accord for Power Plant
Nigeria signed a memorandum of understanding with China’s Sinohydro Corp. to build a 3,050- megawatt hydropower plant on the West African nation’s eastern Mambila Plateau, Power Minister of State Zainab Kuchi said.


Obama Win Raises Odds of Extending Tax Credit for Wind
President Barack Obama’s re-election will probably be followed by Congress extending a renewable- energy tax credit, according to the American Wind Energy Association.


Americans’ Global Warming Beliefs and Attitudes in September 2012 (Posted Oct. 21, 2012)
Yale Project on Climate Change Communication

The EU Emissions Trading System (Posted Oct. 17, 2012)
Environmental Defense Fund

Energy Water Nexus: Coordinated Federal Approach Needed to Better Manage Energy and Water Tradeoffs (Posted Oct. 17, 2012)

Carbon Markets and Carbon Policy in China (Posted Oct. 15, 2012)
The Climate Institute/Climate Bridge

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