CP Daily: Friday January 22, 2016

Published 21:07 on January 22, 2016  /  Last updated at 21:21 on January 22, 2016  / Carbon Pulse /  Newsletters

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

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Court rules against delay of US Clean Power Plan

A Washington DC appeals court on Thursday ruled against putting the implementation of the US Clean Power Plan on hold until lawsuits against the EPA policy have been settled.

EU Market: Energy ‘relief rally’ lifts EUAs, but sellers cap gains as prices fall 5.4% for week

European carbon allowances rose by 2.4% on Friday on the back of a wider ‘relief rally’ in energy prices, but slipped back from their session high as sellers emerged late in the day to scupper attempts to recover more of this month’s steep losses.

Chinese emitters given June 30 CO2 reporting deadline as govt scrambles to ready ETS allocation plan

China on Friday said emitters due to be covered by the national carbon trading scheme must submit verified historical emissions data by June 30 as the government aims to finalise an allocation plan this year.

RGGI states urge EPA to smooth path to broader carbon trade with flexible platform, mass-based approach

The nine US states participating in RGGI have urged the EPA to adopt a flexible trading platform for its Clean Power Plan (CPP) and to encourage other states to take a mass-based approach in their emissions reduction strategies, in order to create a broader carbon market.

EU political party chiefs to tackle ETS reform limbo next week

EU political party leaders will meet next week to resolve a procedural bunfight over which parliamentary committee will control the EU ETS reform file, following months of deadlock that has delayed work on the bill.

World Bank buys 1.7 million CERs from Philippines bank

The World Bank announced that it will buy 1.7 million CERs from the Philippines’ Land Bank, credits to be generated by installing methane recovery systems in sanitary landfills.

NZ Market: NZUs come off early-year highs but expectations remain firm

Spot NZUs closed at NZ$9.60 ($6.26) on Friday, 3 NZ cents up on the previous day but well below the highs of earlier this month, as buyers were seen to have paused their purchases for the time being.

The Climate Trust launches fund for US carbon offset market

US-based NGO The Climate Trust has launched a $15 million fund to finance projects that can generate offsets for the California cap-and-trade scheme and voluntary carbon markets.

Two Chinese banks win rights to issue 100 bln yuan in green bonds

China Industrial Bank and the Shanghai Pudong Development Bank have become the first financial institutions to be awarded quotas from the government to issue green bonds in the Chinese interbank market to raise money to invest in green projects.

Korean landfill firm converts 800,000 CERs to domestic offsets

The Sudokwon Landfill Corp. has cancelled more than 800,000 CERs from UN carbon registry in order to re-issue the reductions as Korean Offset Credits (KOCs), UN data showed, marking the company’s second conversion in two weeks of credits.

CN Markets: Pilot market data for week ending Jan. 22, 2016

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

Voluntary market data from CTX for Jan. 22, 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 World Economic Forum in Davos wraps up tomorrow.  Click here to read Climate Home’s eight climate change takeaways from the annual meeting.

US Democratic presidential candidate Bernie Sanders wants rival Hillary Clinton to release her climate change plan, Politico reports.

US more ambitious than EU on airline carbon standards – Europe is calling for a considerably less ambitious global carbon emissions standards for newly-built airplanes from 2020 than the US has put forward, The Guardian reports. (These and any other submitted proposals will be discussed at the UN aviation agency ICAO’s meeting next month. ICAO is aiming to craft a global standard and adopt it later in the year. The standard will leave most existing carriers unaffected for their normal 20-30 years of service, but forms part of ICAO’s twin-track approach to climate action, the other being to negotiate a market-based measure for aviation emissions from 2020, also due to be finalised this year.)

And finally… President Obama’s Clean Power Plan “victory” this week, which came in the form of a Washington DC court ruling, is more important than you think, Bloomberg reports, adding that “one court’s refusal to block climate change regulations may build pressure for compliance long before the war is over.”

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