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The Guangdong carbon exchange is to allow 47 major corporations to hold and trade carbon on behalf of their entire group, it said on Thursday in a further effort to boost liquidity.
Kenya’s stock market will launch an emissions trading platform that it hopes will help local companies sell their carbon credits to foreign buyers, local media reported.
Trading house Guotai Junan Securities on Thursday said it had inked a deal to borrow carbon allowances from Shanghai Electric Power Co. to use for speculative trading in the city’s carbon market, the second deal of its kind to be announced in a week.
The average price of Beijing Emissions Allowances (BEAs) traded in the 2015 calendar year fell 25% year-on-year to 41 yuan ($6.23), but liquidity rose by 17%, the Beijing Environment and Energy Exchange said Thursday.
EU carbon prices ended just one cent lower on Thursday in a relatively calm session that contrasted with volatile recent days that have seen carbon extend 20-month lows.
Finland-based paper producer Stora Enso reported a €7 million reduction in value of its inventory of emissions allowances in 2015, it said in its annual results published on Thursday.
Bite-sized updates from around the world
Carbon emissions from electricity generation in Australia fell slightly in the year to Jan. 2016 despite higher demand, according to the latest issue of consultancy Pitt & Sherry’s Cedex report. An apparently explicit commercial strategy by power station owners over recent months to achieve higher wholesale market prices by reducing brown coal supply, resulted in more black coal generation and significantly higher median spot prices in both the Victorian and NSW region markets, the report said.
The US state attorneys general leading the court fight against President Obama’s Clean Power Plan say they are optimistic that their unusual legal strategy will work, The Hill reports. While admitting that asking the Supreme Court to block the rule before a lower court decision is a gamble, the officials for West Virginia and Texas say their argument is sound.
And finally… India’s Adani has frozen its investment in Australia’s largest proposed coal mine until world coal prices show a clear recovery, its executives have indicated in stock analyst briefings in India. The mine, which is expected to cause a jump of 128 million tonnes in annual CO2 emissions if built, was approved by the Queensland state government earlier this week. (Guardian)
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