CP Daily: Monday January 11, 2016

Published 20:04 on January 11, 2016  /  Last updated at 11:57 on January 18, 2016  /  Newsletter  /  No Comments

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

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Global CO2 trade volume down 19% in 2015, value up 9% -Point Carbon

Global traded carbon volumes fell 19% in 2015 to 6.2 billion tonnes of CO2e but the overall value of the markets rose 9% to €48.4 billion ($52.8 billion) due to higher per unit prices, analysts at Thomson Reuters Point Carbon said.

EU Market: EUAs continue fall as commodity prices, industrials under pressure

The European carbon sell-off extended into a sixth day on Monday, with front-year prices shedding as much as 35 cents or 4.7% to sink to their lowest since Apr. 2015, as traders reported widespread selling that was met with little buying support from utilities.

China unlikely to launch national ETS on time -analysts

China is unlikely to meet its goal of launching a fully national carbon market next year as a lengthy legislative process and regulatory uncertainties are expected to cause delays, analysts Thomson Reuters Point Carbon said.

Ukraine to return unspent AAU cash to Japan

Ukraine is to return unused funds that it received from selling AAUs to Japan in an international carbon trade under the first Kyoto Protocol’s commitment period (2008-2012).

RGGI announces Q1 allowance auction as prices surge

RGGI states will sell 14.8 million CO2 allowances in an auction on Mar. 9 that will trigger the market’s Cost Containment Reserve (CCR) if the price clears above $8.00, the regulator said on Monday.

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Job listings this week:

Trader, Carbon Market, STX Services – Amsterdam
Clean Energy Director, Transport & Environment – Brussels
Clean Energy Officer, Transport & Environment – Brussels
Cleaner and Safer Road Transport Officer, Transport & Environment – Brussels
Policy Analyst, Grantham Research Institute on Climate Change and the Environment – London
Programme and Marketing Manager, Climate Strategies – London preferred
International Climate Policy Intern, WRI – Washington DC
Sourcing Associate/Manager, Natural Capital Partners – London or east coast USA
Senior Aviation Policy Representative, International Coalition for Sustainable Aviation (ICSA) – Montreal area

Or click here to see all our job adverts

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Bite-sized updates from around the world

“Swapping national debt for action on climate change could be the solution we’ve been looking for.”  The Commonwealth’s proposal for a ‘Multilateral Debt Swap for Climate Action’ alongside green investment and multilateral action from both developed and developing countries are the actions we need post Paris to halt climate change, UN Secretary-General Ban Ki-moon and Secretary-General of the Commonwealth Kamalesh Sharma wrote in a joint op-ed published in the Independent.

US climate policies boosted economy by $2.2 billion in 2013 – It’s not just the planet that benefits from reductions in carbon dioxide and other greenhouse gases that intensify global warming, says new study. (Climate Home)

US coal production has fallen to its lowest level in nearly 30 years as cheaper sources of power and stricter environmental regulations reduce demand, according to preliminary government figures.  A report released Friday by the US Energy Information Administration estimates 900 million short tons of coal were produced last year, a drop from about 1 billion in 2014. That’s the lowest volume since 1986. (New York Times)

California Governor Jerry Brown ordered Southern California Gas Co. to pay for a mitigation programme to offset the emissions from the massive methane leak at an underground natural gas storage facility in LA, InsideClimate News reports.  “[ARB], in consultation with appropriate state agencies, shall develop a program to fully mitigate the leak’s emissions of methane by Mar. 31, 2016,” the governor ordered, adding that it shall be funded by SoCalGas, be limited to projects in California, and prioritize projects that reduce short-lived climate pollutants.

If New Jersey’s Assembly passes further legislation to put the state back in RGGI, five years after Governor Chris Christie withdrew it from the regional ETS, New Jersey would still need to adopt new rules to reflect structural changes introduced during RGGI’s last programme review in 2012, ICIS reports.

A “modest” uniform carbon tax of £20 a tonne would have a negligible impact on UK consumer prices, according to a new study that attempts to make the case for wider adoption of carbon pricing policies. (BusinessGreen via Guardian)

UK coal generators are increasingly looking away from the baseload as a profit opportunity to peaks and even smaller within-day blocks. While the switch had been noticeable over the last few summers, declining gas prices and the UK’s carbon price floor tax have turned cleaner gas-fired generation into a more consistently profitable form of generation than carbon-intensive coal for the first time this winter. (ICIS)

Work on Brazil’s INDC is to be ‘frozen’ due to the country’s economic and presidential crisis. (Climate Home)

Manitoba, Alberta premiers announce partnership on renewables, climate change – Premier Rachel Notley, Premier Greg Selinger to swap climate change strategy ideas going forward. (CBC)

The biggest batch yet of CERs has been cancelled. South Korea’s Sudokwon Landfill Site Management Corporation has voluntarily annulled just over 550,000 credits via the UNFCCC for use in the country’s domestic carbon market.  Read our latest article about South Korean firms cancelling CERs here.

And finally… David Bowie was a climate campaigner, last November co-signing with 300 other artists an open letter to UN climate chief Christiana Figueres and COP-21 President Laurent Fabius urging them to reach an “ambitious and inspiring” international agreement in Paris.  While Ziggy Stardust himself may have passed, but you can follow Climate David Bowie on Twitter, who continues to fight for climate justice through the British icon’s words and song lyrics. Ch-ch-changes.

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