CP Daily: Monday November 11, 2019

Published 01:05 on November 12, 2019  /  Last updated at 01:05 on November 12, 2019  /  Newsletter  /  No Comments

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

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TOP STORY

TCI programme may release modelling, ETS cap scenarios next month, sources say

The Transportation and Climate Initiative (TCI) is expected to include emissions cap scenarios and additional modelling in its December draft memorandum of understanding (MOU) for the proposed fuel sector ETS in the US Northeast and Mid-Atlantic regions, two regulatory sources said.

AVIATION

Qantas announces 2050 net zero emissions target, doubling of offset use

Australian airline Qantas on Monday said it would reach net zero emissions by 2050, and as part of the plan will immediately double its use of carbon credits by matching each tonne offset by its customers.

AMERICAS

British Columbia has lone proposed large emitter programme to meet federal requirements -research

British Columbia’s yet-to-be-finalised carbon pricing system for large industry is the only proposed scheme among Canada’s provinces that meets the environmental stringency requirements of the federal government’s ‘backstop’ mandate, a report released on Saturday found.

RFS Market: RINs lift from 3-mth low as buyers return

US Renewable Fuel Standard (RFS) biofuel credits rose over the past few days from a recent low as buyers scooped them up at bargain prices.

EMEA

EU Market: EUAs stay pinned near €25 as technicals offer little

EUAs lifted back above €25 for most of Monday amid slightly improved economic data and a decent auction performance, though observers saw little that could raise prices further in the short-term.

IAG’s handwringing over fuel highlights EU airlines’ rising GHG footprint

Airline IAG launched a review of its CO2-boosting fuel strategy on Monday, following an investigation that revealed the limited role of carbon pricing in curbing the sector’s rising emissions.

ASIA PACIFIC

Shanghai to auction 2 mln permits on ETS compliance deadline day

Shanghai will auction 2 million CO2 allowances on Nov. 29 to participants in its emissions trading scheme, which face their deadline for complying with 2018 obligations later that day.

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BITE-SIZED UPDATES FROM AROUND THE WORLD

More brown – Australia’s response to climate change is one of the worst in the G20 with a lack of policy, reliance on fossil fuels and rising emissions leaving the country exposed “economically, politically and environmentally”, according to researchers Climate Transparency’s fifth annual Brown to Green report, which takes stock of the climate action performance of G20 countries. Across the G20, limiting global heating to 1.5C would cut negative impacts by 70%, compared with allowing global temperatures to rise by 3C. Currently, extreme weather events were costing G20 countries about US$142 billion annually. (The Guardian)

Pole shift – Poland’s nationalist PiS party has announced its governing cabinet after winning a parliamentary election last month. Prime Minister Mateusz Morawiecki remains but the energy ministry formerly led by coal-advocate Krzysztof Tchorzewski is dissolved. Responsibilities for energy and mining companies will be transferred to a new treasury ministry led by deputy prime minister Jacek Sasin, while a new climate ministry will be headed by COP24 President Michal Kurtyka. (Reuters)

Having your pipeline and taxing it too – The ruling Canadian Liberal government has support for its Trans Mountain Pipeline expansion project as well as its national ‘backstop’ CO2 tax, a survey has found, as Prime Minister Justin Trudeau prepares a legislative agenda that will factor in the views of the opposition parties amid a growing sense of western alienation. The poll by Nanos Research found that 46% of Canadians are in agreement with the government’s plan to continue with the pipeline expansion and to continue imposing a carbon tax in provinces that don’t have an equivalent measure in place. By contrast, 25% of Canadians want the government to only stick with the pipeline project, and 20% would cancel the pipeline project while forging on with the carbon tax. Trudeau will hold individual meetings with the four main opposition party leaders between Tuesday and Friday of this week to hear their legislative priorities. Canada’s new minority government under Trudeau is expected to focus much of its attention on environmental and economic issues. (The Globe and Mail)

With or without you – More American voters want presidential action on climate change with or without Congressional support, according to a new poll. A survey of over 1,000 voters by the left-leaning think-tank Data for Progress and YouGov asked whether they supported nine ways the next presidential candidate could address climate change. Most of the ideas in the poll wouldn’t require congressional action to implement, and most voters would likely approve if a president used executive power to make these bold changes. The ideas included re-joining the Paris Agreement, reversing Trump administration cutbacks to national vehicle fuel economy standards, and preventing new fossil fuel development on public lands. (Mother Jones)

Don’t like those odds – Just 13 out of the largest 132 coal, electricity, and oil and gas companies – or roughly 1 in 10 – have made commitments to reduce their greenhouse gas emissions to net zero, research published Tuesday has revealed. The study, published jointly by the Grantham Research Institute on Climate Change and the Environment at the London School of Economics and Political Science, the Oxford Martin School at the University of Oxford, and the Transition Pathway Initiative, looks at the public disclosures of 20 coal companies, 62 electricity companies, and 50 oil and gas companies. It found that three coal mining companies (BHP Billington, Exxaro Resources, and South32), nine electricity companies (CEZ, EDF, Endesa, Enel, E.On, Iberdrola, National Grid, Ørsted, and XCEL Energy), and one oil and gas producer (Eni), have set a date by which they will reduce the emissions associated with at least one of their core business activities to net zero. Of these 13 firms, nine set a date of 2050 to achieve net zero, while four set a date of 2025 or 2030.

Let’s get it started – The 24th Green Climate Fund (GCF) Board meeting opens Tuesday to consider expanding the fund’s support for climate action beyond the 99 developing countries currently receiving GCF climate finance. The three-day meeting at GCF headquarters in Songdo, South Korea will assess a total of 14 new climate finance proposals worth $484.6 mln. If all projects are approved, this is expected to generate $2 billion in co-financing with GCF’s climate action partners. The last board meeting of 2019 is buoyed by GCF’s first replenishment conference held on Oct. 25, when 27 countries pledged to expand GCF’s financial reserves by providing $9.78 bln equivalent for the next four years. To date, GCF has committed $5.2 bln to 111 climate action initiatives across the planet.

Well Lahti da – With the ongoing testing of a mobile phone app, Lahti in Finland is the first city in the world to experiment with a personal carbon trading scheme, exploring new ideas and methods for energy saving, emissions reduction and environmental protection. CitiCAP is promoted Lahti to enhance its Sustainable Urban Mobility Plan (SUMP) process, which itself contributes to the EU’s climate and energy targets, Xinhua reports. “It can detect the user’s travel modes in real time, identify the user’s transportation according to the speed, and calculate the corresponding carbon emissions, time and distance travelled,” project manager Anna Huttunen said. “By choosing sustainable travel modes, such as walking, cycling or public transport, the user can earn virtual credits, then they can exchange them into sustainable services in the marketplace of the application,” she added. Lahti residents can volunteer to participate in the testing. Once they become users, they receive their personal carbon budget for mobility.

And finally… The reverse Marshall plan – A massive cache of nuclear and biological waste that the United States dumped in the Marshall Islands is at risk of collapsing due to sea level rise – and the US government is refusing to help clean it up, the LA Times reports. The US conducted dozens of nuclear and biological tests between 1946 and 1957 on the Pacific islands and deposited more than 3.1 million cubic feet of waste inside the concrete Runit Dome – the most radioactive waste the US has deposited in another country. As rising seas are lapping at the dome and threatening to collapse it, the Marshallese government is frustrated that the US is claiming the dome is not its responsibility. (Climate Nexus)

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