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New Jersey’s State Assembly on Thursday brought the state a step closer to rejoining RGGI by backing a resolution to overturn the Christie administration’s decision to repeal the rules implementing the cap-and-trade programme.
China Export-Import Bank is eyeing a role in the nation’s carbon market and has teamed up with two local consultancies to build a carbon asset portfolio and get involved in offset project development, state media reported.
European carbon was little changed late on Friday following a volatile trading week, as the benchmark contract headed for a weekly close in line with last week’s €8.14 settlement.
Spot NZUs gained another 5.6% this week, closing Friday at NZ$9.40 ($6.33) as sellers eyed double-digit prices for the first time in over four years.
California and Quebec will hold a joint auction for a total 81.63 million allowances on Feb. 17, 2016, the two WCI members announced on Friday.
Closing prices, ranges and volumes for China’s regional pilot carbon markets this week.
A table of Verified Emission Reduction (VER) prices and offered volumes, based on voluntary market data from Carbon Trade Exchange.
Bite-sized updates from around the world
China may have peaked its coal demand in 2013, according to the International Energy Agency. China’s coal use fell in 2014, and the decline accelerated in 2015. Experts attribute the drop to an economy that is shifting away from coal, as well as state efforts to improve air quality and reduce emissions. Largely as a result of China’s changing consumption patterns, global coal use also fell in 2014, and the IEA is now forecasting 10% less coal use in its latest energy outlook than it had in the previous one. India is the only major economy expected to see any significant growth by 2020, but even this “will not compensate” for China’s decline, the IEA predicts. (H/T Climate Nexus)
The US Department of Energy has announced a new energy efficiency standard for commercial air conditioners and furnaces that it says will cut GHG emissions by 880 million tonnes of CO2e over the next 30 years, the single biggest emission-cutting standard the department has ever released. (The Hill)
Next year will likely be the warmest on record thanks to El Nino and ongoing climate change, according to a new British Met Office report. (Time)
And finally… Inhabitants of smog-clouded Chinese cities are resorting to drastic measures, buying cannisters of Canadian air sourced from the Rocky Mountains that are going for as much as $36 each. (Quartz)
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