CP Daily: Friday January 8, 2016

Published 21:17 on January 8, 2016  /  Last updated at 21:28 on January 8, 2016  /  Newsletter  /  No Comments

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

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EU Market: Carbon slumps again to start 2016 with 9.9% weekly loss

EU carbon slumped for the fifth straight session on Friday as bullish traders looked in vain for signs of a rebound after a volatile first week of 2015 that saw prices fall to their lowest for almost a year.

CDM fund for poor nations aims to select first projects this year

The four-year old World Bank-led Carbon Initiative for Development (CI-Dev) aims to select its first projects this year after whittling down hundreds of applicants to 14 CDM PoAs in Africa.

Does it matter what day of the week governments auction their EUAs?

It might.

CN Markets: Pilot market data for week ending Jan. 8, 2016

Closing prices, ranges and volumes for China’s regional pilot carbon markets this week.

Voluntary market data from CTX for Jan. 8, 2016

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

US EPA chief Gina McCarthy expects a federal court decision within the next two weeks on whether to put the Clean Power Plan on hold during litigation. In a webstreamed event, she said her top priority for the climate rule is working with states to implement it. (The Hill)

New figures from OECD show that while overall aid funding is rising, help for the 48-strong Least Developed Countries is dropping as donors seek the most effective disbursements. Observers saying this has grave implications for the nations most vulnerable to climate change. (Climate Home)

The Washington Post looks at the completion of a six-year research programme by US space agency NASA to cut emissions from aircraft. Work includes designing more efficient engines, incorporating lighter-weight materials in the aircraft and redesigning wings, tails and even fuselages in order to improve the way air flows over the aircraft’s body that the agency hopes the private sector will help develop and be incorporated into the US fleet by 2025 for an overall fuel savings of $250 billion over 25 years. GreenAir Online breaks out further details.

We need to get serious about negative emissions technologies now because global emissions are almost certain to overshoot levels outlined by the Paris Agreement, according to Tim Kruger of the University of Oxford. He said that while there are certainly plenty of ideas but we do not know which, if any, of the proposed techniques could be a deployed at a material scale, are technically possible, environmentally sound and socially acceptable. (Energy Post)

German utility RWE has sold its subsidiary Lynemouth Power, operator of the UK’s 420MW coal-fired Lynemouth power plant, to Czech utility EPH, RWE said today. Full biomass conversion is intended, RWE said. (Argus)

EU climate policy veteran Marco Mensink is to leave his role as director general of CEPI, the EU paper and pulp industry association, on March 15. He will become director general of CEFIC, the EU chemical industry association. CEPI is now looking to appoint a replacement. Potential candidates can contact CEPI Chairman confidentially at chairman@cepi.org. (press release)

Germany’s top climate official Jochen Flasbarth has been put forward by his government for the role of director at the Nairobi-based UN Environment Programme (UNEP), to replace Achim Steiner, who has held the post since 2006. (Rheinische Post, in German)

And finally… The Bologna carbon market?  It may soon exist.  The scheme, dubbed BoCaM and centred in the east Italian city, is backed by Climate-KIC, Europe’s largest public-private innovation partnership focused on climate change.  It aims to create a municipal carbon market where local authorities can develop mitigation projects with “high additionality” and fund them through the sale of credits, which can be bought by regional companies looking to voluntarily cut their emissions.  The initiative is being led by CCPB with the active involvement of Municipality of Bologna and Bologna Urban Center.

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