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The International Chamber of Shipping (ICS) has urged the UN to craft a non-binding pledge to cut the sector’s global greenhouse gas emissions, but warned that shipping should not be expected to reduce at the same rate as rich nations given its limited abatement options.
Shanghai on Monday nearly doubled the number of emitters covered by its local ETS by lowering the coverage threshold and adding new sectors, becoming the world’s first carbon market to include shipping.
While the EU ETS is delivering in some ways it “cannot be right” that the market continues to be oversupplied while the bloc is off course towards meeting its long-term climate goals, think-tank CEPS said in a report on Monday.
The decline in CO2 emissions from coal burning in China may accelerate after the head of the National Energy Administration (NEA) on Monday said the government would rigorously restrain the construction of new coal-fired power plants, including withdrawing some approvals that have already been given.
European carbon prices jumped on Monday on the back of a stronger energy complex, but market participants noted that a number of bearish factors may limit further gains.
Ai Group, Australia’s biggest industry lobby, on Sunday urged the government to find additional funding for the Emissions Reductions Fund (ERF) to ensure there is no slump in the country’s efforts to cut GHG emissions.
An EU ETS-balancing Dutch carbon levy would need to be set at €130/tonne of CO2 to wipe out coal-fired power production in the country, according to two studies by consultancy Ecofys.
Job listings this week:
Policy Adviser, Climate Change and Natural Resources, Global Counsel – London
Lead Energy Analyst (Publications), Accenture – London
Policy team director, Cambridge Institute for Sustainability Leadership – Brussels
Sales trader, Dasco Partners – London
Climate Finance Consultant, GCF Readiness Programme, UNEP – Manila
Climate Change Adaptation Expert, Fairtrade International – Flexible duty station
Or click here to see all our job adverts
Bite-sized updates from around the world
World’s poorest seek to revive ‘high ambition coalition’ of Paris climate summit – Unlikely grouping of rich, poor and emerging economies important to maintain momentum on back of landmark deal, say experts. (Climate Home)
The Australian government won’t re-litigate the issue of a carbon tax this electoral term, new Deputy Prime Minister Barnaby Joyce said. (Bloomberg)
The Australian Senate has launched an inquiry into BP’s plans to drill as deep as 2,200 meters in the Great Australian Bight off the country’s south coast. The National Offshore Petroleum Safety and Environmental Management Authority rejected the plan last year, but BP has said it intends to reapply. If the project goes ahead, NGOs say it could cause 2.85 billion tonnes of CO2 emissions. (Guardian/The Tree)
Kasich challenges GOP status quo on climate change – Republican presidential candidate John Kasich is bucking the GOP trend on climate change, acknowledging the human aspect and calling for the development of renewable energy at a campaign event in Vermont. “I know that human beings affect the climate,” the Ohio governor, who took fifth at this weekend’s South Carolina primary, said. “I know it’s an apostasy in the Republican Party to say that. Kasich also advocated for the development of “all of the renewables,” including storage for solar power. Attendees of the event from both parties were impressed with Kasich’s stance, calling it “encouraging.” (H/T Climate Nexus)
A US federal appellate court judge’s dissent to a decision overturning the EPA’s Clean Power Plan, which was ultimately reversed by the nation’s Supreme Court two weeks ago, could aid the agency as it defends CO2 limits for the power sector, legal experts told Bloomberg BNA. The defense by Judge Judith Rogers of the EPA’s Cross-State Air Pollution Rule, which set up a cap-and-trade emissions trading program for power plants, is a “pretty rousing dissent” in a lawsuit that may present similar legal issues as those being raised in litigation over the CPP, an environmental law professor at the University of California, Los Angeles Law School, told reporters today.
EU should apply a uniform sustainability for bioenergy – Finland’s utility Fortum and tech firm Valnet said in a joint statement. The European Commission has this month launched a consultation a new sustainability policy for bioenergy, with currently only bioliquids given an EU-wide standard yet it applies zero-rating in the EU ETS to all types of bioenergy.
And finally… Those bubbles in your Coke may someday help save the planet. Bloomberg profiles Climeworks AG, which it says may become the first company to make money from sucking CO2 out of the air at industrial scale.
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