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European industries face a new risk to their share of free carbon allowances as France seeks to ensure that after 2020 the handouts are made conditional on carbon pricing outside the bloc.
Alberta will replace its eight-year old emissions levy with a sectoral benchmark-based trading system from 2018, which will be aligned with a new provincial economy-wide tax to enter into force a year earlier, the government announced Sunday as part of its new climate change strategy.
Cuba, South Sudan and Yemen submitted INDCs on Monday to take the total to 174 party pledges to the UN global climate pact, while Guyana resubmitted its pledge to include reference to its REDD+ mega deal with Norway.
Iran will use national and international emission markets to meet a target of keeping GHG emissions 4% below BAU levels in 2030, a goal that could be increased to 12% if specific conditions are met, it said in its INDC submitted to the UN on Saturday.
New Zealand will release the long-awaited discussion paper for reviewing its emissions trading scheme within a few days, Climate Change Minister Tim Groser has said, while dropping the clearest hint yet that the government aims to tighten market rules.
EU carbon firmed on Monday in spite of weak auction interest as European coal prices dropped by a 1.5% to near their lowest levels in more than a decade, increasing profitability for the continent’s dirtiest power plants.
For the first time ever, more than half of all investment in large-scale clean energy projects took place in emerging markets last year, not wealthier countries, a report found.
Australia’s GHG emissions are set to grow 6% between now and 2020, meaning it must double its efforts next decade to meet the 2030 target, analysts Reputex said Monday.
Despite the domestic mitigation targets expressed by most developed countries in their INDCs, some countries, such as the EU, have expressed interest in using carbon markets under the Paris agreement. This event will discuss the potential role of carbon markets post-2020 and will focus on the impact of the Paris climate treaty on the ongoing EU ETS reform.
Job listings this week:
European energy analyst, global commodities fund – London
Environmental commodity brokers, STX Services – Amsterdam
Climate Change Policy Analyst, US Department Of Agriculture – Washington DC
Environmental Policy Manager, Xcel Energy – Denver
Researcher/Analyst, Beyond Zero Emissions – Melbourne
Head of Communications, GGGI – Seoul
Internship for climate change policy analysis, NewClimate Institute – Berlin
Or click here to see all our job adverts
Bite-sized updates from around the world
Hollande, Ban head to Malta for final push ahead of Paris climate talks – French president and UN chief to use Commonwealth heads of government bash to iron out differences before COP21 kick-off. (Climate Home)
The world’s biggest mining companies face a combined $10 billion risk to their earnings if carbon pricing tightens in the wake of crucial global climate talks in Paris starting next week, according to a report from UK non-profit organization CDP. (Bloomberg)
South Korea’s market for new low-carbon energy industries will reach $86 billion by 2030, create 500,000 new jobs and cut GHG emissions by 55 million tonnes of CO2e, government officials said Monday as a new strategy for the industry was introduced. (Yonhap)
The China Emissions Exchange in Guangdong continues to design rules for carbon-related financial products in an attempt to make the market more attractive to financial investors. On Friday it released rules for procedures to get bank loans using Guangdong CO2 permits as collateral, as well as for so-called emission allowances short-term commercial papers, which would establish trade in short-term bonds tied to open interest rates in the Guangdong ETS. (in Chinese)
And finally… Developing countries can boost food production while reducing GHG emissions from agriculture, given the right technologies and financial support to put them into practice, researchers at the international CGIAR research programme found. (Thomson Reuters Foundation)
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