CP Daily: Monday August 7, 2017

Published 20:22 on August 7, 2017  /  Last updated at 20:24 on August 7, 2017  /  Newsletter  /  No Comments

A daily summary of our news plus bite-sized updates from around the world.

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TOP STORY

Australia warned to stop ignoring China’s emerging carbon market

Australia is paying scant attention to China’s plans to launch the world’s biggest carbon market, an attitude that could hurt Australia’s own interests, an industry group said Monday.

EMEA

UK launches fast-track energy price review, includes carbon pricing

The UK government has launched a review on how best to reduce long-term energy bills for households and business while meeting its emission goals and maintaining industrial competitiveness.

EU Market: EUAs soften after German production data, limp auction result

European carbon prices slipped in very light trade on Monday amid poor German manufacturing data and a weaker-than-average auction.

ASIA PACIFIC

China’s Hebei to make major manufacturing cuts under pollution curbs

One of China’s major industrial hub provinces will cut manufacturing in some ETS sectors during winter to curb air pollution, a move that might contribute to oversupply in the national emissions trading scheme.

NZ Market: New Zealand carbon weakens for third day in row

New Zealand carbon permits edged south for the third consecutive session on Monday with low interest persisting.

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BITE-SIZED UPDATES FROM AROUND THE WORLD

Paris pull-out – The US has submitted a formal communication to the UN signalling its intent to withdraw from the Paris Agreement on climate change, two months after Donald Trump’s speech signalling the move. E&E cited sources quoting a US State Department email from senior official and former IETA staffer Kim Carnahan indicating that the US intends to remain engaged in the Paris process until it can officially exit in Nov. 2020. It added that the US could reverse course if “suitable terms for reengagement are met”, with sources suggesting this could mean steps the US can take unilaterally, rather than a full-blown renegotiation of the Paris Agreement previously called for by President Trump and altering the US’ NDC of a 26-28% emission cut under 2005 levels by 2025.

Driving Germany’s CO2 – With an increase of 4.6 million tonnes of CO2 emissions, the transport sector contributed most to the rise of German energy-related CO₂ emissions in the first half of 2017, compared to the same period last year, according to think-tanks Agora Energiewende and Agora Verkehrswende. (Clean Energy Wire)

Shell spread – Oil major Shell is to launch as an electricity supplier in the UK, challenging utilities. It has applied for a licence and plans to start signing up industrial customers to provide them with electricity early next year. The move forms part of a strategic push into the electricity sector in response to rising global demand for clean energy. (The Times, $)

And finally… An idea so fresh and so clean – A British student has discovered a simple trick to slash the weight of washing machines, making them easier to move and more environmentally friendly, The Telegraph reports. Replacing the concrete block near the top that holds the machine steady during a spin cycle with an empty container that fills with water when needed would reduce the weight of the appliance by a third, thereby cutting the emissions generated by transporting the 3.5 million washing machines sold annually in the UK by 45,000 tonnes.

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