CP Daily: Saturday December 5, 2015

Published 18:21 on December 5, 2015  /  Last updated at 18:31 on December 5, 2015  /  Newsletters

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

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China’s Xie touts prospect of China-Korea ETS link

South Korea is willing to work with China to study whether it is possible to link their national carbon markets, according to Xie Zhenhua, China’s special climate envoy.

UN text opens door for fresh talks on targets, carbon market for shipping, but obstacles remain

Text on how to deal with carbon emissions from international shipping has made it through to ministerial discussions at UNFCCC talks for the first time, creating hope that the Paris meeting could provide a signal that would revitalise high-level discussions about CO2 targets and market-based mechanisms for the sector.

Inclusion of markets in Paris climate agreement “not the priority” -China’s head negotiator

Including language supporting the use of market-based mechanisms in a new global climate agreement in Paris is “not the priority”, China’s top negotiator said on Saturday.

COP-21 Roundup: Dec. 5 – Day 6

While the rest of the world tunes in to Saturday morning cartoons or heads out for brunch, negotiators head back to Le Bourget, on the outskirts of Paris, to continue work on a new global climate pact. Unofficially, today is “transition day”, as the COP Presidency takes over the reins of the process from the contact groups, and as ministers begin to arrive and lead their country delegations.

Australia to hold third ERF auction on Apr. 27-28

Australia will hold the third auction under its Emissions Reduction Fund on Apr. 27-28, Environment Minister Greg Hunt announced Saturday.

World Bank opens up second PAF auction to voluntary market, eyes Q2-16 date

The World Bank is aiming to hold its second auction under its Pilot Auction Facility (PAF) in the second quarter of 2016, it said on Saturday, adding that it will open the eligibility up to the voluntary market.


Bite-sized updates from around the world

Oleg Deripaska, the billionaire president of aluminum producer United Co. Rusal, said climate talks in Paris will probably fail to produce a meaningful agreement and urged a carbon tax to reduce emissions of planet-warming gases. (Bloomberg)

The Climate and Clean Air Coalition – a group of governments and businesses tackling short-lived climate pollutants – agreed to extend their efforts. Three of their key commitments are: reducing HFCs by 30-50% from refrigerant servicing within 10 years, a green freight action plan to fight black carbon and fine particle pollutants, and for over 50 cities to reduce emissions from municipal solid waste. (BusinessGreen)

And finally… He said he’d be back, and he is. Former California governor Arnold Schwarzenegger has returned to the climate fight, and is in Paris urging negotiators to simplify their message to drive action on climate change.

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