CP Daily: Thursday October 22, 2015

Published 18:09 on October 22, 2015  /  Last updated at 18:12 on October 22, 2015  /  Newsletter  /  No Comments

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

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Australia’s Veolia holds 7 million CERs after waste sector govt deal

Waste company Veolia Environmental Services bought over 7 million CERs following a July deal with the government that lets waste firms use international offsets to compensate for future carbon tax costs that they had passed on to customers.

US House Republicans, car industry propose carbon credits for car safety

Auto industry representatives on Wednesday backed a draft US Republican House bill proposing to award carbon credits to car manufacturers which install new safety equipment.

Airlines’ global offset demand could be met using existing CDM projects -report

Airlines could get all of the 3.3 billion offsets they are expected to need over 2021-2035 from CDM projects that already exist, a study by Germany’s Oeko Institut said on Thursday.

Japan’s biggest business lobby urges red tape removed for new coal

Keidanren, Japan’s biggest business lobby, is asking the government to cut regulations that make it harder to build new coal-fired power plants, media reported Thursday, sparking angry responses from green groups.

CDM-EB: Red tape cut further for projects but analysts warn on integrity risks

The CDM’s executive last week agreed to develop a handful of measures to further simplify and streamline the mechanism’s often complicated and cumbersome procedures, but analysts warned that some of rule changes could threaten the already-battered scheme’s environmental integrity.

Key takeaways from UN survey of CDM project participants

Fewer than two-thirds of respondents in a participant survey commissioned by the CDM’s Executive Board reported that their projects were running under the scheme, while low CER prices and procedural costs were named as the largest operational barriers.

EU Market: EUAs nudge higher after strong auction

EU carbon prices rose slightly on Thursday following a government auction that attracted the highest bid coverage for almost two months, withstanding bearish signals from the energy complex as the euro fell on ECB easing talk.

UK advisory body sets post-2020 carbon price targets

The UK should set a carbon price of £42 (€58, $65) in 2015 and £78 in 2030 to keep on track to meet its long term emission goals, the government’s advisory Committee on Climate Change said in a report on Thursday.

BP, China National Petroleum Corp. to cooperate on carbon trading

Oil and gas firms BP and China National Petroleum Corporation (CNPC) have signed a deal to expand their global cooperation, including on carbon emissions trading, the companies announced.

Thomson Reuters to close Point Carbon Kiev office, part ways with analysts

Thomson Reuters is to close Point Carbon’s Kiev office due in part to the country’s instability, and will relocate some operations to Poland while parting ways with a handful analysts, sources told Carbon Pulse.

 

Bite-sized updates from around the world

The EPA’s Clean Power Plan will formally be published in the US Federal Register on Friday, Politico reports. That means tomorrow kicks off the 60-day clock to sue over the rule, so expect the first suits to be filed shortly after the court opens for business Friday.

Climate change is a major threat to US national security, top leaders from both sides of the aisle declared in a letter today. Three former defense secretaries and two ex-secretaries of state are among Republican and Democratic signatories calling decisive action on climate change. The US Department of Defense has identified climate change as a “global threat multiplier” due to its increasing impact on global instability. (H/T Climate Nexus)

Study into partial linking of carbon markets – Full linking can be an arduous process but a paper by ICAP/SEI examines four options for partial linking that can still capture many of the benefits. The options are: allowance quotas, one-way linking, exchange rates and discount rates. (ICAP)

And finally… Data visualisations are all over climate policy space these days. Climate Home rounds up seven climate data tools and what they say.

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

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