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EU nations are preparing to dilute the bloc’s main energy efficiency bill while co-legislators in the parliament are working to strengthen the policy that is likely to overlap with the EU ETS.
Brexit negotiators should announce as early as October this year whether and how the UK will exit the EU ETS in order to prevent market disruption, according to EU power industry association Eurelectric.
EU carbon prices were little changed on Friday to end the week almost flat despite a 73% increase in auction volume.
The Climate Markets and Investment Association (CMIA) has appointed several new board members following its annual meeting.
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.
A table of Verified Emission Reduction (VER) prices and offered volumes, based on voluntary market data provided by CTX.
BITE-SIZED UPDATES FROM AROUND THE WORLD
Macron’s edge – French President Emmanuel Macron’s proposal to introduce a €30 minimum CO2 price across western European nations would give France an “enormous competitive edge” over Germany, as his country’s energy supply is based mostly on emission-free nuclear and hydro power, according to the German arm of consultancy Poyry. A €30 price would see Europe reach its CO2-reduction goals faster, but increase power prices in Germany by about 40%, putting export-oriented, energy-intensive industry at a disadvantage.
Double-speak – The UN Human Rights Council has adopted a resolution that calls for the protection of human rights from the impacts of climate change, with the support of the US. Two weeks of discussions began with much uncertainty regarding the role that the US would play after President Trump’s decision to withdraw from the Paris Agreement. After intensive but constructive negotiations over the wording, Bangladesh, the Philippines and Vietnam proposed a resolution for adoption by all members of the Council. It was backed by the US, which said “the effects of climate change have a range of implications for the effective enjoyment of human rights.” (Climate Home)
And finally… Pee power – The world famous Glastonbury festival takes place in England this weekend, but this year the four-night party will be powered with the help of urine. A 40-person Pee Power urinal facility has been installed near the festival’s main Pyramid Stage, converting all that former beer into precious electricity using an innovative technology developed by scientists at the Bristol Bioenergy Centre in the Bristol Robotics Laboratory at the University of the West of England and funded by the Bill and Melinda Gates Foundation. It is anticipated that at there will be over 1,000 litres of urine per day flowing through the microbial fuel cells, generating enough Pee Power to charge 10 digital information panels for festival goers. A second unit is located in the press and performers’ area and will power a mobile phone charging unit and internal lighting. And later this year, the Pee Power urinals will be taken to Uganda for the first ever overseas trial.
P.S. – Check it out: Our own Stian Reklev was quoted in this New York Times piece on Chinese President Xi Jinping’s “big gamble” with carbon trading.
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