CP Daily: Wednesday January 13, 2016

Published 20:18 on January 13, 2016  /  Last updated at 20:25 on January 13, 2016  / Ben Garside /  Newsletters  /  Comments Off on CP Daily: Wednesday January 13, 2016

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

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California air regulators weigh how to mitigate SoCal methane disaster with offsets

SoCal Gas Co’s Aliso Canyon methane leak is a disaster for the adjacent communities and a setback for California’s climate change goals, but it’s also a large potential business opportunity for some California businesses, farmers, cities and nonprofits.

EU ETS reform work limbo continues as MEPs reject offer to split work

Lawmakers on the European Parliament’s environment committee (ENVI) on Wednesday rejected a last-ditch offer by their industry committee (ITRE) counterparts to share control of the EU ETS reform file, increasing the chances of delays to the bill’s passage through the legislature.

EU Market: Carbon claws back more lost ground in edgy trade

EU carbon prices turned upwards on Wednesday following seven straight days of losses, but traders remained cautious about the market’s prospects of a rapid recovery.

German authorities charge British man for suspected tax evasion in EU carbon trading probe

German prosecutors have charged a British man suspected of forming part of a gang that evaded some €58 million in taxes using the EU ETS between Sep. 2009 and Apr. 2010, the authorities said in a statement on Wednesday.

Guangdong carbon exchange sets out ground rules for CCER trade

The Guangdong carbon exchange has become the first of China’s seven emissions bourses to release specific regulations for offset trading in a bid to safeguard against “irregular” trading activities.

Bite-sized updates from around the world

US President Barack Obama used his final State of the Union address  to urge Congress to finally act on global warming. “Look, if anybody still wants to dispute the science around climate change … you will be pretty lonely, because you’ll be debating our military, most of America’s business leaders, the majority of the American people, almost the entire scientific community, and 200 nations around the world who agree it’s a problem and intend to solve it.” Mother Jones summarises the climate elements in the speech, and features a video on the mixed results of proposals Obama laid out in his previous seven addresses.

US oil prices stumbled below $30 for the first time in 12 years to levels that threaten the survival of many U.S. shale firms, spur more belt-tightening by oil majors and spell more pain for crude-producing nations and regions. (Reuters)

Marco Rubio faces secret shame of past sensible stance on climate – The US presidential candidate’s most glaring vulnerability in the Republican primary is his previous, since-retracted support for comprehensive immigration reform. But other vulnerabilities exist. Breitbart News is publicizing a 2008 video in which an even-more-boyish-looking Rubio can be seen advocating cap-and-trade. Conservatives are responding with what they profess to be shock. (New York Magazine)

Alabama is delaying work on its own strategy to implement the EPA’s Clean Power Plan in hopes the rule will be stayed by a federal court, but that could leave the state vulnerable to having a federal plan imposed. (BNA)

Most Albertans support coal phase-out, province’s climate change plan, according to a poll. (CBC)

New UK climate strategy promised by end of 2016 – Energy and climate change secretary Amber Rudd says transport sector must accelerate transition to lower carbon forms of fuel. (Climate Home)

The year ahead for carbon – Ecosystem Marketplace gathers the views of several market participants on what 2016 has in store for the carbon markets.

And finally… Entrants to brokerage Vertis’ annual EU carbon price competition last year predicted spot EUAs would peak anywhere from €7.70 to €11.67.  The two winners picked €8.50, getting the closest to the eventual year-high of €8.67 touched on Oct. 29.  With a more-than 12% fall already on the books in early 2016, this year’s contest is looks set to be a crapshoot. (Vertis blog)

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