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Britain’s tax authority will on Tuesday set out its case against investment bank Citibank over a £10 million tax bill it served the bank in 2013, which resulted from EU carbon allowance trades that HMRC alleges were connected with fraud.
Some 60% of emissions from energy use in major economies are not subject to any carbon price and most of those that are have price exposure well below the damage they cause to the climate, the OECD said in a report on Monday.
The final stretch of years of climate negotiations begin this week, as negotiators over the weekend passed a Paris text on to the French presidency, and ministers get involved. Carbon Pulse will publish news and updates from COP21 as they happen.
Germany on Monday launched an initiative to buy CERs from nitric acid destruction projects in poorer nations at above market levels to prevent existing CDM schemes from closing and to encourage new ones.
A proposal to introduce a revenue-neutral carbon tax in the US is attracting interest from some corners of the Republican party, and the two Democratic senators who authored the bill are confident they’ll soon sign up a sponsor from the other side of the Congressional aisle.
European carbon prices dropped in busy trade on Monday, as traders predicted more volatility in the days to come.
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Bite-sized updates from around the world
US Democrat presidential candidate Bernie Sanders unveiled a new climate platform – It features policies including a carbon tax to meet a GHG cut target of 80% below 1990 levels by 2050. It also included a strategy to weaken the influence of the fossil fuel companies, including banning their lobbyists from the White House, repealing tax breaks for oil firms, blocking new drilling and exports and legal investigations against companies suspected of funding climate denial initiatives. (Vox)
US Energy Secretary Ernest Moniz has stressed the importance of innovation in driving down the cost of clean energy and enabling countries to make bolder climate pledges, outlining the Mission Innovation initative the US and 19 other nations launched last week. (Christian Science Monitor)
Alberta poll shows opposition to NDP’s climate plan – a survey released by Mainstreet-Postmedia suggests 68% of Albertans are opposed to the overall strategy, 22% are in favour and 10% are undecided. (CBC News)
And finally… Pop star Katy Perry has become the latest celebrity to urge action against climate change. In her role as UNICEF Goodwill Ambassador she released a video explaining how climate change negatively impacts the world.
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