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The WCI is likely to have a surplus of 30-33 million tonnes for its first two-year compliance period once installations have surrendered permits and data for 2014 is published next week, according to analysts.
INDCs from the 147 parties submitted by Oct. 1 will result in global emissions continuing to rise over the next 15 years though keep the door open to reaching the 2C temperature rise goal, the UNFCCC said in a report on Friday summarising the submitted pledges.
Norway plans to cut its funding of forest protection initiatives 13% next year as part of a revised government budget to account for a record increase in asylum seekers.
The recent Australian rush to buy millions of cheap, soon-to-be-cancelled CP1 CERs has fuelled concerns that the government plans to use them to cover any shortcomings of its Direct Action Plan, even though using international units goes against its long-standing policy.
EU carbon prices ticked lower in calm trade on Friday to end the week just a cent up week-on-week despite repeatedly extending a three-year high.
Spot NZUs closed at NZ$7.10 on Friday, up 5 NZ cents on last week and level with the highest price recorded this year as interest remained firm ahead of the upcoming ETS review.
Closing prices, ranges and volumes for China’s regional pilot carbon markets this week.
A table of Verified Emission Reduction (VER) prices and offered volumes, based on voluntary market data from Carbon Trade Exchange.
Bite-sized updates from around the world
Negotiators convene in Dubai next week for the annual Montreal Protocol summit, and expectations are high that a deal will finally be struck over the phasing out of potent HFC gases. Check out Bloomberg’s curtain-raiser.
At the December Paris climate conference the UN plans to honour 16 projects around the world that it says have made a genuine difference. The projects, which come from grassroots organizations to multinationals, are “some of the most innovative, scalable, and replicable examples of what people are doing to address climate change.” (Quartz)
The new Polish government will not just resist ambitious EU climate targets, it will also increase the role of the state in the energy sector, write researchers Kacper Szulecki and Andrzej Ancygier. The conservative Law and Justice party that has been swept into power intends to create a ministry of energy, which will take control of the major Polish energy companies. (Energy Post)
Fires are raging across Indonesia are releasing almost as much carbon into the atmosphere as Brazil produces in a year, according to new data from the World Resources Institute. Carbon Brief breaks it down.
In the latest sign that things are changing in Australia’s climate policy, Foreign Minister Julie Bishop has launched a bid for Australia to co-chair the Green Climate Fund that former prime minister Tony Abbott once criticised as “a Bob Brown bank on an international scale”. (Sydney Morning Herald)
To many climate scientists, Siberia’s growing annual wildfires are a consequence of hotter temperatures, the carbon unleashed from its burning forests and tundra only adding to man-made fossil fuel emissions. But the Russian public hears little mention of climate change because state-controlled television stations and print media all but ignore it. The indifference reflects widespread public doubt that humans play a significant role in global warming, a tone set by President Putin. Reuters reports.
And finally… The scariest things you’re likely to come across this Halloween are rotting pumpkins, which the US Department of Energy this week warned will add 254 million tons of waste to the country’s landfills, and subsequently release atmosphere-warming methane emissions.
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