CP Daily: Monday November 16, 2015

Published 00:06 on November 17, 2015  /  Last updated at 00:38 on November 17, 2015  /  Newsletter  /  No Comments

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

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Ontario mulls carbon tariffs, free allowance bonanza in draft emissions trading plan

The Ontario government on Friday circulated to stakeholders a draft design plan for the Canadian province’s new carbon market, proposing to give regulated industries all of their allowances for free for the first four years while considering the introduction of carbon tariffs as extra protection.

Quebec keen to link carbon market to New York

Quebec Premier Philippe Couillard is eager to forge a cooperation on market-based climate change policy between his province and New York state, even though the two jurisdictions are part of different carbon markets.

EU Market: EUAs climb to week-high above €8.50 after strong auction

EU carbon prices rose above €8.50 on Monday after a government auction cleared above market and German power prices halted their recent declines.

Japan minister refuses to back new coal plants

Environment Minister Tamayo Marukawa has refused to back the construction of two new coal-fired power plants amid concerns over Japan’s ability to meet its greenhouse gas emissions target.

Emissions and energy trader leaves London’s CF Partners

An emissions and energy sales trader with London-based investment manager CF Partners has left after nearly six years with the firm.

ICE to buy trading platform Trayport for $650 million

Market operator Intercontinental Exchange (ICE) is buying trading platform Trayport for $650 million in common shares, the companies announced on Monday.

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Job listings this week:

Senior Gas, Power and Emissions Market Analyst, “International Commodities House” – London
Climate Policy Advisor, Office of Sustainability and Environment, City of Seattle – Seattle
Senior Manager, Buildings and Renewables, Lego – London

Or click here to see all our job adverts

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Bite-sized updates from around the world

French and UN officials have confirmed that the UN climate change conference in Paris later this month will go ahead as planned despite the terror attacks in the French capital this weekend that left 130 people dead and over 300 injured, but a series of events linked to the summit will be cancelled over security fears, French PM Manuel Valls said. The conference will be “reduced to the negotiation” with concerts and festive events likely to be called off in the wake of the country’s worst ever terrorist attack. (Climate Home)

Green group coalition CAN vowed to press on with all planned mobilisations at the Paris summit, which will combine with actions around the globe. “While taking into account the exceptional circumstances, we believe that COP21 cannot take place without the participation or without the mobilizations of civil society in France.” They added they would consult with the French authorities about how to proceed. (CAN International)

The legal form of the Paris climate pact – what will it bind countries to do and does legal form even matter? Carbon Brief has an explainer.

Following almost 20 hours of talks at the G-20 summit in Turkey, leaders were at loggerheads over the section on climate in the wording of the meeting’s final communique, Bloomberg reported, citing anonymous officials from more than one country. The leaders eventually reiterated their commitment to 2degC and to phase out fossil fuel subsidies, but disappointed many by failing to address the more contentious issues such as climate finance and how to share responsibility between rich and poor countries.  India and Saudi Arabia were said to be obstructing a wider agreement through their refusal to back regular reviews of national emissions reduction pledges.

Global climate finance hit a record $391 billion in 2014 due to a surge in private investment in renewable energy, as investors were attracted by falling costs and improving technology.

Large variation found in airlines’ CO2 emissions – Lufthansa and BA two thirds as fuel efficient as Norwegian Air Shuttle, says report by group that exposed VW emissions-rigging scandal. (Guardian)

UK government to prioritise keeping lights on ahead of green energy pursuit, UK climate and energy minister Amber Rudd will say on Wednesday, announcing a policy “reset”. A potential UK coal power phase-out remains under consideration, but Rudd’s ministry is set to lose 200 officials (one in eight) as part of government-wide budget cuts. (Telegraph, Independent)

Canada talks North American energy and climate accord with US, Mexico – Canadian Natural Resources Minister Jim Carr is aiming to launch negotiations with the country’s neighbours to the south on a continental energy and climate accord when he travels to Paris this week for an energy ministers’ meeting. (Globe and Mail)

Two of America’s biggest coal burners want to have their cake and eat it too – On the one hand, Southern Co. and American Electric Power Co. have joined in a legal challenge against President Obama’s Clean Power Plan, arguing that the rules amount to federal overreach and require industry to move too quickly.  At the same time, Southern and AEP said they see the regulations as offering a long-term opportunity to make money by building renewable and natural-gas power plants and power lines. (Bloomberg)

Green group the Sierra Club is urging vulnerable senators to support the CPP, noting that the rule is popular among voters who are heading to the polls next year. (The Hill)

The Environomist, with support from the International Finance Corporation (IFC) and South Pole Carbon, has begun work on its third annual report on the Chinese carbon market, and invites all interested parties to participate in the 2016 China Carbon Market Survey (in Chinese only).

And finally… IETA boss Dirk Forrister speaks to E&ETV about how conversations on the inclusion of provisions backing market-based mechanisms in the UN climate agreement draft text remain “sticky”. Watch the 8-minute interview here

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

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