CP Daily: Thursday February 18, 2016

Published 19:11 on February 18, 2016  /  Last updated at 19:15 on February 18, 2016  /  Newsletter  /  No Comments

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

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Canadian government mulling national carbon price floor -paper

Canada’s federal government wants to agree a deal with provinces to set a national carbon price floor of C$15 per tonne, the Globe and Mail reported on Wednesday, citing anonymous sources.

Five things we learned from MEPs’ first look at EU ETS reform plans

The European Parliament’s environment committee met on Thursday for its first formal hearing on the EU’s post-2020 ETS reform proposal. It’s still early days for the bill but Carbon Pulse has identified several key takeaways from the discussion that will shape the wider debate this year.

Nearly all of China’s generators to be covered by ETS -industry association

Nearly all of China’s power generators will be brought into the national emissions trading scheme that starts next year, but the industry must be on top of developments to avoid additional costs in what are already difficult times, the head of China Electricity Council said Thursday.

EU Market: Allowances hit 8-day high after ‘double bottom’, channel break-out

European carbon prices hit an eight-day high on Thursday as technical indicators signalled that the market may have broken out of its downward trend channel after bottoming at their lowest since 2014.

SK Market: Korean offsets hit record high for second consecutive day

Korean Carbon Units (KCUs) gained 10% in Thursday’s trade, trading up to 16,500 won ($13.41) to hit a record high for the second day in a row as supply remains severely restricted.

Commissioner backs tighter rules for New Zealand ETS

New Zealand’s parliamentary commissioner for the environment on Thursday backed tighter rules for the country’s emissions trading scheme, but said the price cap should stay for now to avoid rapidly increasing NZU prices.

COMMENT: The five A’s of an effective NZ ETS review

The New Zealand emissions trading scheme is hitting its target by missing the point, and needs to be changed by considering five “A’s”: Ambition, Architecture, Alignment, Acceptance and Agriculture.

Bite-sized updates from around the world

Some 70% of US electric utility executives want to see the proposed Clean Power Plan move forward, according to an annual survey by Utility Dive that was conducted before the proposal was temporarily blocked by the Supreme Court. (Natural Gas Intelligence)

New analysis released today by the Union of Concerned Scientists shows that strengthening Pennsylvania’s clean energy policies, together with introducing a carbon trading programme, provides a cost-effective way for the state to cut GHG emissions, deliver significant health and economic benefits to residents, and comply with the Clean Power Plan.

A California Republican assemblyman has introduced legislation that would require gas stations to post the estimated per-gallon cost of the state’s cap-and-trade programme. (SignalSCV.com)

Ford cuts ties with climate skeptic ALEC – The US carmaker has become the latest major corporation to cut ties with the American Legislative Exchange Council (ALEC), the controversial lobby group that is well-known for fighting environmental regulations and has promoted climate change denial. More than 100 other big companies, including Google and Coca-Cola, have also recently parted ways with ALEC, citing similar issues with the organisation. (H/T Climate Nexus)

And finally… A faster Jet Stream, speeding up as a result of climate change, could add 70,000 tonnes of CO2 annually to transatlantic flights, GreenAir Online reports.

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