CP Daily: Wednesday October 14, 2015

Published 17:11 on October 14, 2015  /  Last updated at 14:10 on October 15, 2015  / Stian Reklev /  Newsletters

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

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EU Market: Benchmark carbon price hits new 3-year high

European carbon hit a new three-year high on Wednesday, as buyers pushed the price above the previous year-to-date peak of €8.43 amid tightening supply.

China clears 31 more projects to generate CCERs

China on Wednesday published a list of 31 more projects that have been approved to generate carbon offsets to its emissions market, meaning the government has this week increased the number of eligible initiatives by almost 50%.

Analysts revise number of emitters impacted by Australia’s safeguard mechanism to zero

Given the flexible compliance options in the final version of the safeguard mechanism, not a single one of Australia’s 140 biggest carbon emitters are likely to feel any impact it, market analysts Reputex said Wednesday

London police seize £2.4 mln from jailed carbon scam gang

The City of London Police has seized £2.4 million from six people convicted for running carbon credit and land investment scams, it said on Wednesday, adding that the gang could face more jail time if their victims are not repaid.

DIALOGUE: Is there a future for international carbon trading?

Our Dialogue on exploring the prospects for international carbon trading has been updated from earlier this week and features perspectives from four leading experts.


Bite-sized updates from around the world

The predicted winner of Poland’s Oct. 25 parliamentary election has called for a renegotiation of the EU’s 2030 climate & energy package agreed by member states nearly a year ago, saying the country needed more coal-based power stations. (EurActiv)

The draft of the Paris climate change agreement has left the Indian government and its negotiators upset. It ignores many submissions by developing countries, breaches India’s non-negotiable red lines and is inimical to the country’s interests at the talks, the negotiators have concluded in their preliminary assessment. (Business Standard)

UN to quiz Saudi Arabia, Qatar over missing climate plans – Secretary General’s advisor says his office will be on the phone to those countries yet to deliver their INDCs. (Climate Home)

Utility Engie (formerly known as GDF Suez), which is part-owned by the French government, will end its investments in coal projects as part of France’s decision to end subsidies for the CO2-intensive fuel, French energy and ecology minister Segolene Royal announced. (Le Figaro, in French)

Norwegian PM demands global carbon price and end to fossil fuel subsidies – Erna Solberg says governments must create predictable framework and a clear direction for low carbon investment. (BusinessGreen)

Canada’s banks urged to put a price on portfolios – A group that advocates for responsible investment is urging Canada’s big banks to be more transparent about their exposure to fossil fuel-related industries and how carbon pricing might affect their portfolios. (CBC)

And finally… Bill Gates has called fossil fuel divestment a “false solution” – The founder of Microsoft and the Gates Foundation, which has $1.4 billion invested in fossil fuel companies, also accuses environmentalists of making misleading claims about the comparative price of solar. (Guardian)

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