In this edition: Coverage of the California market heats up with The Wall Street Journal’s “Carbon Trading Heating Up” and Bloomberg’s “California Emitters May Run Short of CO2 Offsets: Camco” plus Reuters Point Carbon’s “California carbon market to be short of offsets: report” In global news, Reuters reports “Russia Will Not Cut Emissions under Extended Kyoto Climate Pact” and Business Green has “Siemens, Air France-KLM, and BMW lead Dow Sustainability Index”

Quote of the Day:

“Once we [California] get going, the hedge funds will be there.”

–Randall Lack, founder of Element Markets in Houston, an asset manager that helps clients hedge in carbon markets, in The Wall Street Journal’s “Carbon Trading Heating Up”

Lead Stories

Renewables and Emissions Trading: Do Schemes like the EU ETS Work?
Renewable Energy World
Emissions trading is growing in popularity across the globe, but doubts about its high costs and ultimate effectiveness at promoting renewable energy have hampered its adoption. The key question is whether emissions trading schemes — as exemplified by the E.U. ETS — can be made to work successfully.
http://jlne.ws/QiqQPP

Carbon Trading Heating Up
The Wall Street Journal
After a series of false starts, the market for trading carbon-emission credits is showing new signs of life in California.
http://jlne.ws/SSvcAy

Why the recent plunge in U.S. carbon emissions may not last
The Washington Post
Over the winter, the United States reached what seemed like an encouraging milestone. Carbon dioxide emissions from energy sources dropped to their lowest levels in 20 years. At first glance, the country looked like it was making progress in reining in its planet-warming greenhouse-gas emissions.
http://jlne.ws/Pkly4H

California Emitters May Run Short of CO2 Offsets: Camco
Bloomberg
California’s greenhouse-gas emitters may run short of emission offsets at the beginning of the state’s carbon market, as happened at the start of Europe’s program, according to Camco International Ltd. (CAO).
http://jlne.ws/QR5VTG

California carbon market to be short of offsets: report
Reuters Point Carbon
California’s carbon market could be 29 percent short of offset credits in its 2013-2014 pilot phase if regulators do not expand their list of allowable project types, making it more expensive for companies to achieve their required emissions cuts, a new report said.
http://jlne.ws/Rb5g1H

UN Carbon for 2013 Falls to Record as Supply From Coal May Gain
Bloomberg
United Nations emission credits for December 2013 dropped to a record as supplies of offsets from more-efficient coal plants in emerging nations may increase.
http://jlne.ws/RUFAWY

CME Inflates Energy Portfolio – Analyst Blog
Zacks Equity Research blog
Strengthening its position in the energy space, the operator of regulatedCME Group Inc. ( CME ) announced a comprehensive set of new natural gas and power markets. All the products from this suite will be listed on the New York Mercantile Exchange (NYMEX).
http://jlne.ws/RWZ5J0

REPORT:
The Critical Decade: International Action on Climate Change
Climate Commission (Australia)
http://jlne.ws/PwhPzn
**RKB – This is the Climate Commission’s 12th report and follows a series of reports on the science and impacts of climate change and the opportunities in Australia associated with taking action to reduce greenhouse gas emissions.

Study showing carbon-reduction projects stimulate economy a ‘farce’: Independent MLA
Vancouver Sun
The province’s economy has enjoyed a significant economic boost from the four-year-old Pacific Carbon Trust, according to two studies commissioned by the controversial organization.
http://jlne.ws/O7dGqm

Critic discounts Carbon Trust studies
The Vancouver Sun
The province’s economy has enjoyed a significant economic boost from the four-year-old Pacific Carbon Trust, according to two studies commissioned by the controversial organization.
http://jlne.ws/SRoCdo

Opinion: Climate Change: Carbon market needs efficient global rules
Mail & Guardian
The world stands at a ­critical juncture. The effects of climate change are accelerating and the predicted rise in global temperatures will have an increasingly devastating impact on food security, human settlement and our ability to survive as a people and a planet. But global action to address this looming crisis falls far short of what is needed. This lack of action to cut carbon dioxide emissions (referred to as “mitigation” in climate jargon) is also having an impact on carbon markets.
http://jlne.ws/PhgjlZ

Russia Will Not Cut Emissions under Extended Kyoto Climate Pact                        
Reuters
Russia confirmed on Thursday it would not make cuts in greenhouse gas emissions from 2013 under the U.N.’s Kyoto Protocol, joining Canada and Japan in rejecting an extension of the plan for fighting climate change.
http://jlne.ws/V0faln

Siemens, Air France-KLM, and BMW lead Dow Sustainability Index
Business Green
BMW, Air France and Siemens were named as some of the world’s leaders in sustainability by one of the longest-running sustainability indicators, which released its latest listings this week.
http://jlne.ws/OyWY3e

Businesses seek to block EU’s ban on harmful greenhouse gases
Business Green
Businesses trying to block a European Union ban on hydrofluorocarbons (HFC) appear to have started “a lobbying frenzy” to ensure they can continue to use the powerful greenhouse gases in refrigerators, foams and air conditioning systems.
http://jlne.ws/Ue2HIt

Events

GreenGov Symposium
ACCO & White House Council on Environmental Quality
September 24-25, 2012
http://jlne.ws/OfOB9D

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

EMA  2012 Fall Meeting
**Keynote speaker is Richard Sandor
October 24 – October 26, 2012
Santa Monica, CA
http://jlne.ws/NIFCwM

Carbon

Carbon-neutral natural gas? A lab breakthrough but. . .            
The Christian Science Monitor – Guest Contributor
A microbe can turn wind and solar electricity into natural gas while sucking carbon dioxide from the atmosphere. But it’s commercial feasibility is not yet tested.
http://jlne.ws/Oucwzw
**RKB – Guest blogger is NextWave Energy founder Richard T. Steubi.
**repeats in Natural Gas section

Fears for emissions trading scheme
Otago Daily Times
The controversial emissions trading scheme (ETS) is going pear-shaped, with carbon credits plunging from $20 per tonne of emissions to $4.20 per unit last week. Senior business reporter Simon Hartley talks to ETS supporters who are highlighting the emerging anomalies and are alarmed over the Government’s proposed changes to the ETS legislation.
http://jlne.ws/PIo7iG

Natural Gas/Coal

The Truth about Germany’s Coal        
Renewable Energy
One downside of Germany’s switch to renewables while weaning itself off of nuclear power is that it must rely on coal — the dirtiest, most carbon-intensive fossil fuel — as the main back-up for its renewable energy supply, which is intermittent given the weather-linked nature of solar and wind sources. As it happens, soft lignite coal in particular, which Germany has in abundance, is one of the worst offenders for greenhouse gas emissions.
http://jlne.ws/Re5ZcW

Carbon-neutral natural gas? A lab breakthrough but. . .           
The Christian Science Monitor – Guest Contributor
A microbe can turn wind and solar electricity into natural gas while sucking carbon dioxide from the atmosphere. But it’s commercial feasibility is not yet tested.
http://jlne.ws/Oucwzw
**RKB – Guest blogger is NextWave Energy founder Richard T. Steubi.
**repeats in Carbon section

EPA Raises Biodiesel Mandate for Refiners Under Program
Bloomberg
The Environmental Protection Agency said gasoline refiners must use 1.28 billion gallons of biodiesel next year, under a program that was hit by fraud earlier this year.
http://jlne.ws/Qikmkc

Airlines Grapple with Food vs. Biofuel Debate
Reuters
Airlines battling to cut costs and pollution may not find a quick fix in biofuels, as concerns grow that using feedstocks to create an alternative to kerosene will push food prices higher.
http://jlne.ws/UdXIaE

Power

Nordex Cost Cuts Raise Prospects for Best Turnaround
Bloomberg
German wind-turbine maker Nordex SE (NDX1) is set to achieve its cost-cutting program this year and has sold out of its newest-model machine, raising prospects for the biggest earnings comeback among renewable-energy companies.
http://jlne.ws/RWzFLr

Saudi Arabia Seeks Private Investors in Renewable-Energy Push
Bloomberg
Saudi Arabia will seek private investment in its effort to develop solar power and other forms of renewable energy, the governor of the kingdom’s Electricity and Co-Generation Regulatory Authority said.
http://jlne.ws/Uad032

Saudi Arabia Talks with Turkey on Power-Grid Link, Official Says
Bloomberg
Saudi Arabia is in talks about connecting its power grid with Turkey and is studying a possible link with Egypt, the governor of the Persian Gulf state’s Electricity and Co-Generation Regulatory Authority said.
http://jlne.ws/RajuQC

Vestas Says Chinese Market Shifting to Higher Quality Turbines
Bloomberg
China’s wind park developers are increasingly seeking higher-quality turbines rather than just picking the cheapest machines, Vestas Wind Systems A/S (VWS) said.
http://jlne.ws/Rdw7EV

Alstom to Furnish 68 Wind Turbines to Brazil’s Casa dos Ventos
Bloomberg
Alstom SA (ALO), the world’s third- largest power-equipment maker, has agreed to supply 68 wind turbines to Brazilian developer Casa dos Ventos for projects in the northeastern city of Joao Camara.
http://jlne.ws/PjsMGg

The Cost of Solar: America vs. the World
Industry Week
Although 2011 was a banner year for the U.S. solar industry, the country still lags behind the rest of the developed world in solar deployment. The U.S. installed 1.9 gigawatts of solar capacity last year, which is a good deal more than it has in years past; still, the E.U. accounted for nearly 75% of all new capacity, coming primarily from solar powerhouses Germany and Italy.
http://jlne.ws/Pwxb6Z

U.K. Gas-Power Plan Undermines Binding Carbon Goal, Adviser Says
Bloomberg
A U.K. plan to invest in new gas- fired power plants over the next 20 years is incompatible with legally binding carbon targets, the government’s independent climate-change adviser said.
http://jlne.ws/PoV8yy

U.K. Wind Output Rises to Record as Turbines Added to Grid
Bloomberg
Wind power generation in the U.K. climbed to a record as more turbines, owned by companies such as SSE Plc (SSE), are connected to the grid in a bid to meet 2020 renewable energy targets.
http://jlne.ws/U0B368

Updated: UK breaks 4GW wind energy barrier
Business Green
UK wind farms generated a record amount of wind power this week, hitting the 4GW milestone for the first time and peaking at 10 am this morning.
http://jlne.ws/Ue2PYG

Power East Coast via wind? Doable with 144,000 offshore turbines, study says
NBC News
Placing wind turbines off the East Coast could meet the entire demand for electricity from Florida to Maine, according to engineering experts at Stanford University.
http://jlne.ws/U0A4Tt

Ontario to get 3,000 MW of new power generation over 18 months
Reuters
Ontario’s power grid operator said on Wednesday that generators will add more than 3,000 megawatts (MW) of capacity to the system, over the next 18 months, including about 1,500 MW of nuclear and 1,500 MW of renewable generation.
http://jlne.ws/S1u3nE

RECs

Shedding Light on Subisidies
The Wall Street Journal
The spread of renewable-energy production in recent years owes a lot to public subsidies. With equipment and installation costs still high, federal and state subsidies can be the deciding factor in whether a consumer or a business invests in renewable energy.
http://jlne.ws/Rd1Xav

Headwinds: Manufacturers hope wind production tax credit gets extended
Michigan Biz
While politicians debate about the federal renewable energy production tax credit, some manufacturers think everyone is missing the point. The conversation isn’t about green energy, they say, it’s about innovation.
http://jlne.ws/Ovqjps

CleanTech

Could spinach be the answer to truly green solar panels?
Business Green
We all know spinach is a wonder food, but now scientists think it can not only boost your health, but also the efficiency of your solar panels.
http://jlne.ws/RX3uvk

Water

Turkey Works on $700 Million Northern Cyprus Water Line
Bloomberg
Turkey is working on a $700 million project for a dam and 107-kilometer (66-mile) pipeline under the Mediterranean Sea to supply fresh water to northern Cyprus, Deputy Prime Minister Besir Atalay said today.
http://jlne.ws/OtPn0c

IADB Lends Venezuela $400 Million for Water Treatment Projects
Bloomberg
The Inter-American Development Bank has agreed to lend Venezuela $400 million for two projects to improve water treatment in the South American country.
http://jlne.ws/U05vxh

Collaboration Key to Harnessing Ocean Power Potential        
Renewable Energy World
As highlighted in a recent article by Renewable Energy World, the UK is playing a leading role in the design, testing and scale-up of new ocean energy technologies. In fact, this week a delegation of British academic, government and industry representatives is bringing its marine energy know-how to Nova Scotia for the Ocean Renewable Energy Group’s (OREG) annual conference. Much of the discussion at the global forum will focus on how the UK and Canada – two of the most ambitious nations in regards to developing marine energy – can best work together to accelerate development of this largely untapped clean energy resource.
http://jlne.ws/PHnWV2
*RKB – Co-authored by Dave Pratt, Director of Nautricity, and Mike Rosenfeld, Vice Consul and Senior Director for Clean Technology, North America, UK Trade and Investment

Irrigators’ costs reduced by new funding
Mysunshinecoast.com
The Newman Government has demonstrated its commitment to improving water use efficiencies in agriculture by announcing $2.75 million in funding to State-wide water programs.
http://jlne.ws/QdXDD3

Reports

CDP Global 500 Climate Change Report (Posted Sept. 11, 2012)
Carbon Disclosure Project

Beyond the bluster: Why wind power is an effective technology (Posted Aug. 30, 2012)
IPPR
http://jlne.ws/UeZB9b

Carbon Tax Revenue and the Budget Deficit: A Win-Win Solution? (Posted Aug. 27, 2012)
MIT
http://jlne.ws/Ri3So8

The 21st Century Corporation: The Ceres Roadmap for Sustainability (Posted Aug. 21, 2012)
Ceres
http://jlne.ws/ONwe8M

EPA REGULATIONS AND ELECTRICITY (Posted Aug. 16, 2012)
GAO
http://jlne.ws/NHwlos

European Power & Renewables Deals: Quarterly M&A outlook (Posted August 15, 2012)
Pricewaterhousecoopers
http://jlne.ws/TFZjaV

Advancing Technology for America’s Transportation Future (Posted August 6, 2012)
http://jlne.ws/MA2U6I

Benchmarking Air Emissions Of the 100 Largest Electric Power Producers in the United States (Posted July 31, 2012)
http://jlne.ws/QbRr0J

Per capita CO2 emissions in China reached European level (July 18, 2012)
http://jlne.ws/NAjBQQ

The Interim Regulation of Voluntary Greenhouse Gases Emission Trading in China (Posted July 10, 2012)
The Climate Group
http://jlne.ws/Mhv62s

Measure for Management: C40 Cities (July 9, 2012)
Carbon Disclosure Project
http://jlne.ws/L9LC37

View all reports >

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