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UN climate chief Christiana Figueres will leave her role in July, declining to renew her contract after six years in a post, while GCF head Hela Cheikhrouhou is also stepping down.
South Korea on Friday issued 231,972 Korean Offset Credits (KOCs) taking the total number of cancelled CERs to hit the market to 7.33 million, but supply remains scarce and market participants are increasingly calling on the government to release the market stabilisation reserve.
European carbon prices slipped on Friday but held on to notch their first weekly gain in 2016, after plummeting the previous six weeks to their lowest since 2014.
Vattenfall will close its Amsterdam-based trading floor, including its emissions desk, over the next two years in order to consolidate operations out of its Hamburg office, the Swedish-owned utility announced Thursday.
Spot NZUs closed at NZ$9.25 ($6.12) on Friday, down 2 cents from last week, but bounced back after hitting a 9-week low of NZ$9.15 on Wednesday as rich supply depressed prices.
Closing prices, ranges and volumes for China’s regional pilot carbon markets this week.
A table of Verified Emission Reduction (VER) prices and offered volumes, based on voluntary market data from Carbon Trade Exchange.
Bite-sized updates from around the world
What’s ahead for carbon markets after COP21? Anthony Mansell of US-based think tank C2ES writes on what emerges from the Paris Agreement. He concludes that the pace and extent of progress under the UNFCCC will determine how central a role multilateral platforms will play in the future and the prospects of a truly global carbon market. (International Centre for Trade and Sustainable Development)
Interview with former US EPA General Counsel Scott Fulton on the future of the Clean Power Plan – Fulton gives his rundown into the issues surrounding the Supreme Court’s stay of the CPP, including how it could delay its implementation by at least a year. (The Energy Collective)
National inventory estimates from the US EPA indicate no significant trend in US methane emissions from 2002 to present, but in an article published in Geophysical Research Letters a group of researchers use satellite retrievals and surface observations of atmospheric methane to suggest that they have increased by more than 30% over the 2002–2014 period. ($)
EU ETS impact on corporate investment – Expected carbon prices are still far too low to mobilise additional financing for new investments in lower carbon modes of production, according to a study by two Brussels Free University academics who analysed corporate reactions to the EU ETS for Belgian EU ETS sites. (Carbon Management)
And finally… CO2 emissions might become a thing of the past in East Siberia. According to Sputnik International, the Russian government is looking into a proposal to transform the region into a carbon-free area through the use of renewables and the introduction of a carbon tax. However, the plan is likely to run into opposition as East Siberia is a major coal-mining region and coal-fired power plants provide a significant amount of its electricity and heat.
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