CP Daily: Monday October 1, 2018

Published 22:54 on October 1, 2018  /  Last updated at 21:29 on October 29, 2018  /  Newsletter  /  No Comments

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

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

Brussels ending push to raise EU’s overall 2030 emissions goal -media

The European Commission will not push to raise the EU’s 2030 emission reduction goal next month, German press agency DPA reported, with Brussels dropping the drive amid reluctance from Germany and others.

AMERICAS

Lawmakers, green groups slam US EPA’s CPP replacement over climate, health losses

A collection of state government representatives and environmental groups criticised the US Environmental Protection Agency’s (EPA) proposed Affordable Clean Energy (ACE) rule at its lone public hearing on Monday, saying the regulation would backtrack on climate change mitigation in the power sector and be a detriment to public health.

Maryland working toward late October RGGI amendments

Maryland is on track to release its final proposed amendments to adopt the post-2020 Regional Greenhouse Gas Initiative (RGGI) rules in October, putting the state on track to approve the changes this year, a state official told Carbon Pulse.

LCFS Market: California prices rise back towards $190 after amendments approved

The California Low Carbon Fuel Standard (LCFS) market has jumped back to life after the state regulator Air Resources Board (ARB) approved an amendment package for the programme last week, prompting prices to claw back towards record highs hit this summer.

Number of California CITSS accounts grows 2% in Q3

Seventeen entities opened Compliance Instrument Tracking Service System (CITSS) accounts during the third quarter, bringing the total number to 673, according to Air Resources Board (ARB) data.

EMEA

EU Market: EUAs continue to nudge higher in shaky trade

EU carbon saw another volatile trading session Monday, but prices rose for the third consecutive day on a stronger auction performance.

ASIA PACIFIC

Australia sets CO2e cap for Shell’s Prelude floating LNG platform

Australia’s Clean Energy Regulator has set an annual emissions cap for Shell’s Prelude project under the Safeguard Mechanism, but the world’s second-biggest floating LNG platform will still bump up the nation’s greenhouse gas emissions by nearly 3 MtCO2e annually.

———————————

DON’T MISS CARBON FORWARD 2018!

SMALLER INDUSTRIAL EMITTERS AND AIRLINES ARE ELIGIBLE FOR UP TO 70% OFF STANDARD TICKET PRICES

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.

Order your passes or read more about Carbon Forward 2018

———————————

Job listings this week

Or click here to see all our job adverts

———————————

BITE-SIZED UPDATES FROM AROUND THE WORLD

Life changing – The Intergovernmental Panel on Climate Change (IPCC) scientific panel is gathering in South Korea this week to finalise its latest report of recommendations for how to keep global temperature rise below 1.5C. A summary for policy-makers is expected to be approved on Friday and released next Monday. The document will underpin UN climate talks in Poland in December. (BBC)

Gas gulper – Swiss carbon capture firm Climeworks has launched a third plant in Troia, Italy that will capture 150t of CO2/year. The CO2 will be converted into methane for powering trucks as part of the EU-funded power-to-gas project to help store renewable energy. Climeworks forecasted abatement costs between $600-800 a tonne. Read Carbon Pulse’s article on Climeworks’ tapping of the voluntary carbon market here. (Quartz)

Melting passages – Denmark’s A.P. Moller-Maersk shipping group, the world’s biggest, has said one its cargo vessels has successfully passed through the Russian Arctic on a one-off trial journey as a result of melting sea ice and its first completed voyage of the previously impenetrable Northeast Passage between St. Petersburg and Vladivostok. (Daily Mail)

Roch (Voisine) the vote – Quebec holds its general election on Monday, but it is not expected to have a significant impact on the province’s Western Climate Initiative (WCI) participation or its cap-and-trade programme. Latest polls show the Coalition Avenir Quebec (CAQ) as the most likely victor, and the party has already publicly supported keeping cap-and-trade and staying in WCI. The ruling Liberals, who installed the cap-and-trade programme, are expected to win 39 of the 125 seats in the Quebec legislature. Read our piece on the election here.

California fuel drops – California’s fuel consumption continues to drop amid high gasoline prices, as gasoline consumption fell by 0.61% during the first six months of 2018, while diesel consumption dipped 1% over the same period, according to state data. Those consumption figures could result in an emissions decline of 0.01% in the fuel sector, according to Carbon Pulse estimates. Chevron and Shell appeared on track for slight emission declines, while Valero could see its compliance obligations rise.

Cash for carbon – The US Department of Energy (DOE) will allocate up to $30 million to fund research and development of CCS technologies. The projects will be aimed at addressing scientific challenges and knowledge gaps with the aim to reduce the cost of using CCS at coal-fired power plants. The selected projects will join 11 other projects who received $28.9 mln from the DOE’s Office of Fossil Energy. The National Energy Technology Laboratory will manage the projects. (Utility Dive)

Greek levy – Greek electricity rates may be about to rise again, Ekathimerini reports. According to Energy Minister Giorgos Stathakis, the major increase in the price of carbon emissions places a great burden on state utility Public Power Corporation (PPC) that needs to be shared. According to sources, the scenario that PPC is examining provides for the imposition of a CO2 levy on household power rates too, as is already the case in medium- and high-voltage rates. The plan concerns an automatic increase in the rates if the average carbon price of the previous four-month period climbs higher, and a reduction if it falls. Stathakis says the calculations will be made after the annual financial results of PPC are issued in March.

And finally… Sleep on the wind – A local clean energy company and tourism authorities on the Danish island of Lolland are working on a project that would turn ageing wind turbines into facilities where people can spend the night instead of just dismantling them. Rooms would be constructed 15 metres above ground, offering a good view over a landscape known among locals as “Pancake Island”. Some turbine towers would be placed horizontally, for tourists to sleep in a tube-like construction with glass ceilings. If the government greenlights the idea, the first facilities would be ready to open in two-to-three years. (Danish Radio)

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

Tweet about this on TwitterShare on LinkedIn0Share on Facebook0Share on Google+0

Comment

We use cookies to improve your website experience and to analyse our traffic. We also share non-personally identifiable information about your use of our site with our analytics partners. By continuing to use our site, you agree to this. More information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close