CP Daily: Wednesday December 23, 2015

Published 17:23 on December 23, 2015  /  Last updated at 17:37 on December 23, 2015  /  Newsletter  /  No Comments

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

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No special treatment for poor provinces in China’s ETS -official

Emitters in China’s poorest provinces will be given CO2 caps based on the same principles as their competitors in the nation’s more affluent regions and will not receive any special treatment, an official with the National Development and Reform Commission (NDRC) said Wednesday.

Dirtier energy mix pushes up Australia’s GHG emissions

Australia’s greenhouse gas emissions rose 1.3% in 2014-15 to 549.3 million tonnes of CO2e, according to government data, as coal use increased after the carbon tax repeal.

Manitoba ETS a good fit for WCI, but could face political headwinds

Manitoba’s proposed emissions trading scheme will likely be accepted by WCI participants, though the plan to launch a provincial carbon market could be scrapped following this spring’s elections, analysts have warned.

China issues green bond rules to scale up clean energy investment

The People’s Bank of China (PBOC), the country’s central bank, has released rules that let banks and other financial institutions issue green bonds, in a bid to raise investment of some 300 billion yuan ($46.3 billion) annually for environmentally friendly projects.

EU Market: EUAs ease ahead of holiday period after hitting 8-day high

European carbon prices eased on Wednesday after hitting a fresh eight-day high, as the euro and energy complex dipped and a few speculators took profits ahead of the holiday period.

EC launches carbon auction consultation to prepare for MSR

The European Commission on Tuesday launched a 12-week consultation on how regulations governing the auctioning of allowances in the EU ETS need to be amended in preparation for the introduction of MSR.

Voluntary market data from CTX for Dec. 23, 2015

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

Non-fossil fuels accounted for 12% of China’s primary energy mix at the end of 2015, exceeding an earlier target of 11.4%, Xie Zhenhua, China’s senior envoy on climate change, told reporters on Wednesday, according to Reuters.  He also called the Paris Agreement “imperfect” because it didn’t sufficiently address the issues of funding and technology transfer from developed countries to developing nations. (Bloomberg)

A majority (58%) of US Republicans who had heard of the international climate deal in Paris said they support working with other countries to curb global warming and were willing to take steps to do so, according to a Reuters/Ipsos poll. But Republicans surveyed were split on whether they would support a candidate who believes climate change is primarily man-made, with 30% saying they would vote for such a candidate and 27% saying they would not. (Reuters)

Senator Mitch McConnell and the coal industry’s last standShale gas, solar, wind, new regulations and environmentalists have put relentless pressure on coal, but the Senate majority leader still believes he can stem the tide. (Bloomberg)

Australia on Wednesday officially published a new investment mandate for it’s A$10 billion Clean Energy Finance Corporation (CEFC), which lifts the green bank’s ban on investing in wind power projects, put in place by former PM Tony Abbott earlier this year. In anticipation of the new mandate, the CEFC earlier this month committed A$67m in what will be the country’s third-biggest wind farm.

And finally… The New York Times published its list of the top new food words for 2015, which included “climatarian“, defined as “a diet whose primary goal is to reverse climate change”. Being a climatarian involves eating locally produced food to reduce transportation emissions, choosing pork and poultry instead of beef and lamb to limit methane emissions, and using every part of ingredients (apple cores, cheese rinds, etc.) to curb food waste.”

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