CP Daily: Tuesday September 5, 2017

Published 02:05 on September 6, 2017  /  Last updated at 02:05 on September 6, 2017  /  Newsletter  /  No Comments

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

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TOP STORY

EU Market: EUAs surge almost 10% to 2017 high on soaring energy, strong auction

EU carbon prices spiked almost 10% to their highest of 2017 on Tuesday, buoyed by bullish comments made by France and Germany, a strong EUA auction, and key coal and power contracts hitting their highest for almost three years.

ASIA PACIFIC 

Australia doubles down on coal even as industry plans shutdowns

Australian Prime Minister Malcolm Turnbull on Tuesday said his government is pushing for the extension of one of the country’s oldest coal power plants that owner AGL plans to close, casting further doubts over the Coalition’s willingness to implement policies to help meet its Paris Agreement obligations.

NZ Market: NZUs see minor correction, but bullish sentiment lingers

After more than three weeks of steady gains New Zealand carbon permits softened slightly on Tuesday as observers say a correction might be due, albeit only a minor one.

INTERNATIONAL

Interest in funding SDGs is broadening beyond climate -survey

Interest in funding projects across the 17 Sustainable Development Goals (SDGs) is growing across public and private sectors, with most potential investors willing to crowd together to maximise impact, a survey found on Tuesday.

AMERICAS

Nova Scotia cap-and-trade stakeholders favour linked, WCI-friendly market despite govt reservations

A majority of stakeholders polled by the Nova Scotia government over its proposed cap-and-trade scheme favour designing it based on WCI’s rules and linking it to other North American carbon markets.

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As partners of the Carbon Forward 2017 conference, Carbon Pulse brings you an updated conference programme showcasing the speakers and panellists who will present at the event in London over Sep. 26-28. You can view the updated programme here.

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BITE-SIZED UPDATES FROM AROUND THE WORLD

The first element – The secret to switching the global energy system entirely to renewables may lay in the universe’s most abundant substance. Hydrogen has drawn backing from oil major Shell, utility Uniper and carmakers BMW and Audi. They’re supporting research into how the element can be used to store energy for weeks or even months beyond what lithium-ion batteries can manage. (Bloomberg)

Swedish spending – Sweden’s centre-left government will invest a total of 5 billion Swedish crowns ($627 mln) on climate action as part of its 2018 budget. Many of the measures had already been announced and will target both industry and individuals, for example by increasing subsidies for hybrid and electric cars. (Reuters)

Kiwi cleansing – New Zealand’s sovereign wealth fund has reduced its exposure to carbon emissions and carbon reserves by a fifth, its chief executive said, after launching a review of climate change risks last year. That had reduced the NZ$35 billion ($25 bln) fund’s overall exposure to emissions and reserves by around 20% each. (Reuters)

They may take away our EU membership, but they’ll never take our ability to beat them in phasing out petrol! – The partly-devolved Scottish government has pledged to phase out new petrol and diesel cars and vans across Scotland by 2032, eight years ahead of the UK government target. Leader Nicola Sturgeon outlined plans to “massively expand” charging points and set up pilot projects to encourage uptake of electric vehicles.  Scotland will also establish an innovation fund to encourage climate-change solutions such as charging vehicles in areas with a high concentration of tenements. (The Independent)

Another notch in EPH’s belt – The Czechia-based energy group has purchased more British power plants, acquiring the Langage and South Humber CCGT stations as part of a £318 million deal with Centrica.  EPH already owns the Eggborough and Lynemouth plants, and it bought all of Vattenfall’s German lignite assets last year. (Devon Live)

And finally… New depths – Climate campaigners have endorsed what has been dubbed the most hilarious climate denial argument ever. US talk radio host Mark Levin asked listeners of his radio show last week why great scientists of the past such as Aristotle, Faraday, Galileo, Tesla, Newton, Pasteur, Edison and Einstein never talked about climate change. “Because ladies and gentlemen, man-made climate change is not about science. It’s not about evidence. It’s not about knowledge. It’s not about facts. It’s about an ideology, imported in the United States from Europe, like Marxism itself,” he said. (Daily Kos, Climate Nexus)

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