CP Daily: Friday December 22, 2017

Published 22:53 on December 22, 2017  /  Last updated at 01:02 on December 23, 2017  /  Newsletter  /  No Comments

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

HAPPY HOLIDAYS FROM CARBON PULSE!

CP Daily will not be published Dec. 23-Jan. 1. Carbon Pulse will file stories and send out CP Alerts on merit during that period. Regular coverage will resume Jan. 2.

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TOP STORY

EU Market: EUAs jump to 2-year high as end-of-year rally continues

European carbon jumped to a two-year high on Friday, rising for a seventh straight day in a pre-Christmas rally that has added nearly 20% to the price.

AMERICAS

Oregon lawmakers reveal details of proposed cap-and-trade legislation

Two Oregon lawmakers this week revealed details of proposed legislation to create a “cap-and-invest” scheme in the state and link it to the North American WCI carbon market.

ASIA PACIFIC

Pakistan ponders carbon price to curb emissions growth

Pakistan is considering putting a price on carbon emissions to stimulate investment in green energy and stifle its rapid growth of greenhouse gas output, its climate change minister said.

Kazakhstan’s ‘Caspy’ exchange wins contract to host national carbon trade

The Kazakhstan Commodity Exchange, also known as Caspy, has been appointed to host trading in the country’s emissions trading scheme, which will restart on Jan. 1 after nearly two years of suspension.

DATA

CN Markets: Pilot market data for week ending Dec. 22, 2017

Closing prices, ranges and volumes for China’s regional pilot carbon markets this week.

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BITE-SIZED UPDATES FROM AROUND THE WORLD

So to summarise – Our friends at Carbon Brief take a look at some of 2017’s top climate and energy stories through the medium of numbers. The highlights include the 19,109 participants that travelled to the annual UN climate conference in Bonn, a 14% reduction in US CO2 emissions since 2005, and how 2017 was the 2nd or 3rd warmest year on record.

It’s been a costly year – Global disasters in 2017 cost homes and businesses a staggering $306bn, according to a new study by insurance firm Swiss Re. Losses made this year from both natural and man-made catastrophes represent a 63% jump compared to last year, as the US saw its most damaging hurricane season since 2005, with Hurricanes Harvey, Irma and Maria. Swiss Re said that despite the rise in financial loss, the number of people who died or went missing in disasters remained similar to 2016 at just over 11,000 people. (The Independent)

Clean UK – Electricity generation from renewable energy in the country has reached a record high, according to new government statistics. Q3 2017 saw the share of generated from renewables increase by nearly 5% from the same period last year to hit 30%. Low-carbon electricity’s share of generation increased to the highest ever point of 54.4%, in part due to a upsurge in wind energy. (The Independent)

No help – The Dutch government’s decision to hold the first zero-subsidy auction for offshore wind has paid off, BusinessGreen reports, with the government announcing yesterday that bidders have come forward and the site will be developed without state support. Last week, Swedish utility Vattenfall revealed it had put in an offer to the auction, which is seeking to find developers for 700MW of offshore wind capacity off the Netherlands’ southwest coast. This was followed by confirmation from the Dutch government that the Hollandse Kust (zuid) Wind Farm Sites I and II will be built without any subsidy, after the auction closed to bidders yesterday. Auction winners will be chosen over the next few months, with a view to getting the wind farm up and running by 2022, supplying one million households with clean electricity.

And finally… One final facepalm for 2017 – Donald Trump has been granted permission to build a wall. Not in Mexico, but on the west coast of Ireland. The US President had sought approval for a lengthy sea barrier to protect his golf course at Doonbeg in County Clare from Atlantic storms and coastal erosion, with the original application citing global warming as a justification. Environmental groups had raised numerous objections, claiming the wall could damage protected wildlife habitats in the region. And many were quick to highlight the irony of a president, who is sceptical about climate change and who pulled his country out of the Paris Agreement, building a wall in an attempt to manage the effects. (Sky News)

Got a tip? Email us at news@carbon-pulse.com

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