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Japan’s Ministry of Environment has released a long-term vision for climate change policies that back a strategy to use carbon pricing as a key tool to cut emissions, though the document noted that there are “different opinions” on the issue.
Opponents to California’s cap-and-trade programme on Friday said they will appeal their case targeting the scheme’s auctions to the state’s Supreme Court following a legal victory by the Air Resources Board earlier this month, potentially delaying a final ruling in the matter for at least another year.
RGGI states have dropped the least ambitious scenarios from being discussed at a stakeholder webinar this week and expect the protracted market reform discussions to rumble on for at least several more months.
China has launched a consultation process to update the grid emission factors that are used to calculate how many international and domestic offsets can be generated from power projects.
EU carbon prices dipped on Tuesday as the market returned from a four-day break to news that the UK government is seeking a snap June election to strengthen its Brexit negotiating hand.
A Guangdong power company on Tuesday called for bids to sell its surplus permits in the provincial emissions trading scheme, asking for a minimum price 27% below the secondary market.
The voluntary market is facing up to a challenging period as a new global mechanism is developed by the United Nations and while companies pursue fast-growing markets in low-carbon energy.
Below is a table of the closing prices, ranges and volumes for China’s regional pilot carbon markets this week. All prices are in RMB, and volumes in tonnes of CO2e. Data sourced from local exchanges.
Job listings this week:
Power and Carbon Analyst, BP – London
Director of Policy, Climate Bonds Initiative – London
Senior Program Analyst, CCEEE – Beijing
Program Analyst, CCEEE – Beijing
Program Officer 2, Clean Energy, Winrock International – Arlington, Virginia
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BITE-SIZED UPDATES FROM AROUND THE WORLD
It’s D(ecision)-Day – Senior staff in the Trump Administration meet today at the White House to formally discuss whether the US should remain in the Paris Agreement, or withdraw from it as the president pledged on the campaign trail. According to Politico, a key figure to watch is EPA Administrator Scott Pruitt, who has urged the administration to exit the landmark agreement struck by nearly 200 countries in late 2015. Pruitt sees leaving Paris as a key part of his strategy to ensure the administration has a clear path to killing the Clean Power Plan, but the idea the two are related appears to be novel even among some conservatives opposed to the pact. A final roster of meeting attendees is unclear, but National Economic Council Director Gary Cohn, Secretary of State Rex Tillerson, National Security Adviser H.R. McMaster, Energy Secretary Rick Perry, senior adviser Jared Kushner, chief strategist Steve Bannon and Pruitt are all expected to attend. Trump’s team is expected to take a clear stance on the Paris deal before the G-7 meeting in late May.
Saudi renewable renaissance – Saudi Arabia will produce 10% of its power, or 9.5 GW, from renewable energy by 2023, Energy Minister Khalid al-Falih said Monday. The oil superpower will funnel up to $50 billion into 30 solar and wind projects over the next six years as it seeks to diversify its economy, create jobs and wean itself off oil. Al-Falih launched a bidding round for the first 300MW solar farm on Monday, which is expected to come online by 2019, and the kingdom will also take bids for a 400MW wind project later this year. (Climate Nexus)
And finally… Don’t swoon – Environmentalist Bill McKibben turns his ire on climate poster boy Justin Trudeau, arguing that the mitigating effect of the Canadian PM’s comprehensive carbon pricing policies will be swallowed up by his plans to dig up and pipe out more oil. He claims this makes a hypocrite of the planet’s only sovereign leader who appears to have recently quit a boy band, something that cannot be said for his counterpart south of the border. (The Guardian)
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