Presenting CP Daily, Carbon Pulse’s free newsletter. It’s a daily summary of our news plus bite-sized updates from around the world. Subscribe here
TOP STORY
More than 260 installations, airlines in non-compliance with EU ETS for 2017, data shows
More than 260 installations and airlines operating under the EU ETS were listed as being in non-compliance with the scheme for 2017, data published by the European Commission on Wednesday showed.
EMEA
Brussels seeks share ETS revenues, wants to up climate spend
The European Commission has proposed to earmark a fifth of ETS auction revenue for the post-Brexit 2021-2027 central EU budget, for which it wants to raise climate-related spending by 5%.
EU Market: EUAs dip to 1-week low below €13 as power prices sink
EU carbon prices continued to slide on Wednesday, dropping below €13 for the first time in a week as weaker power prices weighed despite some improved signs of auction demand.
ASIA PACIFIC
Australia should move on international offsets but might meet closed doors, observers warn
If Australia wants to use international carbon credits to meet its Paris target it should start seeking out potential bilateral partnerships now, though may find many governments reluctant to export them, according to observers.
Australian group launches fund to trade premium-priced co-benefit offsets
The Aboriginal Carbon Fund has launched a new fund seeking to trade carbon credits that provide additional environmental, social and cultural benefits for indigenous communities in Australia.
Climate veteran joins Victoria govt as senior advisor
One of Australia’s leading climate and energy policy experts has taken up a new role as senior climate and energy advisor to the Victorian state government.
AMERICAS
Canadian firm foresees international expansion for Alberta’s land-based offset protocols
New global carbon markets and heightened consumer and corporate interest will bolster international demand for land-based offset projects developed in Alberta, despite concerns about environmental integrity, Canadian environmental consultants said on Wednesday.
Hawaii legislature passes amended offset and sequestration bills
The Hawaii House and Senate have again passed two carbon offset and sequestration-related bills after a bicameral committee made minor changes to both pieces of legislation in April.
———————————
CARBON FORWARD 2018
SAVE THE DATE: Carbon Forward 2018 – Survive and thrive in the global carbon markets
Don’t miss the 3rd annual Carbon Forward conference and training day – Oct. 16-18, 2018 in London.
Spend two days with top experts, players, and decision-makers from the global carbon markets as they address today’s most attractive opportunities and pressing challenges. And join us for the EU ETS pre-conference training day organised by carbon market experts Redshaw Advisors, where you will learn how to effectively manage your carbon risk ahead of the looming overhaul of the bloc’s emissions trading scheme.
———————————
BITE-SIZED UPDATES FROM AROUND THE WORLD
Clean miss – The first analysis of progress against the UN’s Sustainable Development Goal 7 – which targets green energy – finds limited headway made against clean cooking, renewables, and energy efficiency targets. The International Renewable Energy Agency (IRENA) warned that countries are falling short on almost every aspect. (BusinessGreen)
Ship shape – The full text of UN’s shipping agency IMO’s initial GHG strategy for the sector has been published. It forms a submission to the UN climate talks’ Talanoa Dialogue. Read Carbon Pulse’s take on the target here, including why the goals mean the maritime sector is unlikely to replicate aviation’s CORSIA offsetting mechanism.
Plane plans – Emission-free aviation is technically feasible, but as long as kerosene remains as cheap as today and we ignore external costs like climate change, conventional plane technology will always have a cost advantage, according to Josef Kallo, head of the Research Group Energy Systems Integration at the German Aerospace Center. He said that even with a CO2 price, the development of alternatives would take 10-20 years. (Clean Energy Wire)
Aspirational targets – Canada’s Northwest Territories on Tuesday launched a medley of strategies aimed at cutting the territory’s GHGs by 30% below 2005 levels by 2030, Cabin Radio reports. Three new documents will shape the territory’s approach to energy, climate change, and oil and gas development over the next 12 years, with initiatives including a move away from diesel, using the territory’s own natural gas instead of imported fuel, and increasing interest in electric vehicles. However, government officials admit many of the actions outlined are “aspirational” in nature. Almost half of the emissions goal is predicated upon the Taltson Hydro Expansion – an expensive project connecting the NWT to the south in one, cohesive grid – being built. That project has been a territorial ambition for years but hasn’t received close to its estimated C$1 billion in required funding. If it goes ahead, the project would connect north and south grids, provide power north to the diamond mines, and hook up with Alberta or Saskatchewan to the south, while also cutting power costs for residents and industry and allowing the NWT to sell renewable energy to southern provinces.
It’s a gas – Three civil society groups have urged the next Mexican government to expand the country’s carbon tax to include natural gas, which is currently exempt under the roughly $3.70/tonne levy. The Mexican chapter of the World Resources Institute (WRI), local think-tank Instituto Mexicano para la Competitividad (IMCO), and the Iniciativa Climatica de Mexico (ICM) held a joint press conference Monday to discuss their recommendations on climate change and energy policies for the next administration, which will take office in December after elections in July. The current Pena Nieto administration brought in exemptions for natural gas and jet fuel at the urging of the private sector, as the country is in the midst of substituting oil fuel and diesel for natural gas at existing power plants. The Energy Ministry (Sener) also expects the power grid to add nearly 19 GW of combined-cycle generation over the next 15 years. (Natural Gas Intelligence)
Shift your emissions – Offset project registry and developer Verra (formerly VCS) has released a call for public comments on a new project type: a methodology for time-shifted electricity generation targeting less-carbon intensive generation. The methodology allows project activities that use a carbon advisory service to shift the electricity usage of devices from times of high carbon intensity to lower periods. The methodology was developed by WattTime, a non-profit subsidiary of the Rocky Mountain Institute. Public comments will be accepted through May 25.
Mass sale – Brokers Evolution Markets announced on Wednesday that they will conduct a Renewable Energy Certificate (REC) auction on May 10. The auction, held on behalf of economic development agency Massachusetts Clean Energy Center, will offer just over 6,000 vintage 2017 Massachusetts Class I RECs generated by five different renewable energy projects, including three wind and two solar initiatives. The RECs will be sold in one lot, and counter-proposals to the terms of the REC purchase and contract will be considered until May 4.
Waiver worry – The Advanced Biofuels Association (ABA) asked the US Court of Appeals for the District Columbia Circuit on Tuesday to look into the controversial Renewable Fuels Standard (RFS2) waivers that the EPA has handed out to small refiners in recent years, reports DTN/The Progressive Farmer. The biofuels industry group said in a statement that it is concerned about the waivers – eligible for facilities producing less than 75,000 barrels per day – being granted behind closed doors and without accountability, while also hampering the prices for the programme’s corresponding Renewable Identification Numbers (RINs) and threatening the programme overall. Meanwhile, Reuters reports that the latest in a series of RFS2-related meetings between senators from agriculture and oil states over ongoing reform efforts to the programme will take place sometime early next week.
Bank job – Protesters interrupted Barclays’ annual general meeting on Tuesday, as the bank came under pressure to cut its lending to fossil fuel projects. Groups including Share Action, Greenpeace, Friends of the Earth, and representatives of Canadian First Nations groups called on the bank to speed their climate action, to stop funding pipeline companies like Kinder Morgan, and to divest from fracking investments. (Financial Times)
Another day, another Pruitt scandal – US EPA administrator Scott Pruitt’s controversial trip to boost natural gas in Morocco last December is coming under increased scrutiny. The Washington Post and the New York Times both reported Tuesday that the trip was partially organised by former Comcast lobbyist Richard Smotkin, who accompanied Pruitt and was subsequently hired by the Moroccan government for a $40,000/month contract. The Post also reports that the trip cost taxpayers over $100,000, more than double than original estimates. The reports come as the head of Pruitt’s security team and a senior aide in charge of Superfund site work both abruptly quit the EPA Tuesday amid increased scrutiny over their roles at the agency. (Climate Nexus)
And finally… Job on – UN climate chief Patricia Espinosa has backed Polish government nominee Michal Kurtyka to preside over the year-end COP24 climate conference in Katowice, despite a bid by former Polish Environment Minister Jan Szyszko to keep the role when his country takes over the meeting’s presidency from Fiji in December. Szyszko argued the Eastern European bloc nominated him personally, not the institution he represented, and that it was a breach of UN rules for the Polish government to choose someone else without consultation. (Climate Home)
Got a tip? Email us at news@carbon-pulse.com
