CP Daily: Friday January 15, 2016

Published 22:15 on January 15, 2016  /  Last updated at 22:15 on January 15, 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 prices crash through €7 to post another 10% weekly drop, enter bear market

EU carbon hit a 10-month low on Friday to continue the rocky start to 2016, which has wiped out almost 20% of EUA prices since the end of 2015.

EU policy roundup: The slow road to ETS reform

Ongoing work on EU ETS reform got off to a slow start to 2016 as both MEPs and member state officials took only tentative steps this week towards addressing the Commission’s proposal.

Oregon lawmakers introduce cap-and-trade bill, but success seen doubtful

Two Oregon state senators on Thursday introduced draft legislation that would establish a state-wide cap-and-trade scheme from 2020, but sources said the bill stands little chance of surviving.

CN Markets: Pilot market data for week ending Jan. 15, 2016

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

Voluntary market data from CTX for Jan. 15, 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

The Obama administration’s announcement on Friday that it will suspend new coal leasing on federal lands and overhaul the program to better reflect environmental costs could be a turning point in climate policy. It is a concrete measure toward leaving fossil fuels in the ground, as the science demands. (InsideClimate News)

California lawmaker launches effort to green ports – State Assemblymember Patrick O’Donnell (D–Long Beach) has introduced a bill aiming to spend cap-and-trade revenue on making California’s ports green and more energy efficient. (Signal Tribune)

Colorado gets a climate plan plan – The US state’s assembly has introduced a bill that requires Colorado’s Climate Plan to include measurable goals the achievement of which will reduce Colorado’s greenhouse gas emissions or improve the state’s ability to adapt to climate change, as well as an analysis of progress made toward achieving such goals. (National Law Review)

Union Investment isn’t waiting for the Paris climate accord to be poured into government policy. The fund manager, one of Europe’s biggest, is taking a fresh look at the pollution emitted by the companies in which it invests in anticipation government rules will change. (Bloomberg)

A group of leading US climate law professors find that the Paris climate agreement unlocks a previously unused Clean Air Act provision that enables broad authority to use market-based mechanisms to reduce carbon pollution nationwide. They conclude this will bolster the administration’s mandate to cut GHGs and enable it to ratchet down the goals in future. (Climate Progress)

German companies want to invest more into energy efficiency again, according to the institute for energy efficiency in manufacturing (EEP) at the University of Stuttgart. For the winter edition of the energy efficiency index (EEI), the researchers polled over 300 manufacturers which all said that they want to use at least 10 percent of their planned investments on energy efficiency measures. The number of companies which want to increase efficiency by more than 10 percent has grown from 20.6 percent to 68.5 percent in the past six months, the researchers said. (H/T Clean Energy Wire)

And finally… Greenpeace has chosen to replace outgoing boss Kumi Naidoo with two co-executive directors: 30-year Greenpeace campaigning veteran Bunny McDiarmid and the Jennifer Morgan, formerly of the US-headquartered World Resources Institute. “Bunny has walked the decks of nearly every Greenpeace ship. Jennifer has walked the corridors of power,” the organisation said.

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