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The UK is keen to keep the 57% share of EUAs to be auctioned in EU ETS Phase 4 (2021-2020) to ensure a liquid carbon market, the country’s climate ministry said in a written position paper on the Commission’s July proposal.
Ontario should consider a number of important issues faced by North America’s first carbon markets including stemming financial outflows, experts said Monday, as the Canadian province prepares to release draft rules for its emissions trading scheme.
China has issued nearly 9.4 million fresh CCERs taking the total amount of offsets in the market to around 33 million, but only a third of the most recent batch is eligible for compliance in the seven pilot schemes
Guangdong will update its carbon market rules to given China’s biggest pilot emissions trading scheme stronger legal backing and impose tougher penalties on companies that don’t comply, the provincial government said.
The UK has introduced a bill to allocate free EUAs to installations that had already opted out of the EU ETS but must return to the scheme because their emissions have exceeded exemption limits.
EU carbon dipped to its lowest for three weeks on Monday as weaker power weighed and analysts warned that EUA prices could face additional pressure.
Job listings this week:
Director of Program Implementation, RGGI – New York
Policy Analyst, Climate Change, New Zealand Ministry for the Environment – Wellington
Project Director, Alliance for Sustainable Palm Oil – Jakarta
GCF readiness consultant, Nepal specialist – UNEP
Or click here to see all our job adverts
Bite-sized updates from around the world
Getting trustworthy data on emissions remains one of the key challenges in China’s plans to cut greenhouse gases and set up a national ETS. Reuters takes a close look at the work that is being done.
Coal consumption is poised for its biggest decline in history, driven by China’s battle against pollution, economic reforms and its efforts to promote renewable energy. That’s according to Greenpeace data, which comes a day ahead of the IEA’s annual World Energy Outlook. (Bloomberg)
Peabody Energy, the world’s largest publicly-traded coal company, has agreed to make fuller public disclosures about the risks climate change poses to its business in a settlement of charges that it misled investors and the public. The settlement follows a two-year investigation that found the St. Louis-based company’s public statements about the potential economic impact of climate change didn’t always square with the firm’s internal financial projections, and Peabody has agreed to file revised SEC disclosures affirming that “concerns about the environmental impacts of coal combustion … could significantly affect demand for (its) products or (its) securities.” (USA Today)
A proposal backed by the United States and Japan that would limit public funding of new coal plants to only ultra-supercritical generators will be discussed at an OECD meeting next week, but Australia opposes the plan and could scupper it, according to documents seen by Fairfax.
Business groups, NGOs, consultants and political advisors got together last week in Australia for a slogan-free discussion of climate policy options ahead of Prime Minister Malcolm Turnbull’s planned 2017 policy review. (Guardian)
Canada may increase the ambition of its post-2020 emissions reduction target above what was pledged by former PM Stephen Harper, but it won’t likely be before Paris’ COP-21, said Catherine McKenna, the country’s new environment and climate change minister. (Ottawa Citizen)
Poland’s bid to block global efforts to seal a global climate pact is likely to struggle to gain traction as it risks alienating European partners and as top emitters China and the United States dominate the international debate. (Reuters)
And finally… Greenhouse gas levels in the atmosphere reached a record high in 2014 as the relentless fuelling of climate change makes the planet more dangerous for future generations, the World Meteorological Organization said. (Reuters)
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