CP Daily: Monday March 7, 2016

Published 18:40 on March 7, 2016  /  Last updated at 18:40 on March 7, 2016  /  Newsletter  /  No Comments

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

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China sets 18% carbon intensity reduction target by 2020

China released its thirteenth five-year plan on Saturday, pledging to cut the carbon intensity of its economy to 18% below current levels by 2020, a target that is likely to guide the CO2 cap in its national emissions trading scheme.

Current EU climate targets mean €5 EUAs, little fuel-switching through 2030 -Barclays

European carbon allowances will average €5 through all of the fourth phase of the EU ETS (2021-2030) under the bloc’s current climate targets, meaning prices won’t be high enough to incentivise Europe’s biggest utilities to shift towards burning cleaner fuels until after 2030, Barclays said in an analyst report Monday.

China’s greenhouse gas emissions may have already peaked -study

China’s carbon emissions may have peaked in 2014, but were they to rise in coming years the increase would be modest, a study said Monday.

CN Markets: Shanghai CO2 price finds fresh depths as China’s pilot markets face difficult year

Shanghai’s CO2 allowance price fell to a record low 8.50 yuan ($1.30) on Monday, with other Chinese carbon prices remaining depressed across the board amid uncertainty surrounding how the pilot schemes will cope with falling emissions and the looming transition to a national ETS.

EU Market: Oil, energy complex thrust EUAs to highest close in 2 weeks

EU carbon prices closed at their highest in two weeks on Monday, guided higher by a late buying surge and as the wider energy complex was lifted by Brent crude rising above $40 for the first time this year.

Canada’s BC mulling carbon tax increase

British Columbia is considering increasing its carbon tax, the premier of Canada’s westernmost province said last week.

European Commission sets dates for 2015 EU ETS emissions data release

The European Commission will release preliminary verified EU ETS emissions data and compliance information for 2015 starting on Friday Apr. 1, the 28-nation bloc’s executive said on Monday.

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Job listings this week:

Principal Director, Climate Change, Ministry of Water, Land, Environment and Climate Change – Kingston, Jamaica
Funding Development Officer, Carbon Tracker Initiative – London
Senior Partnerships Manager, Nexus for Development – home-based in London/European capital
Account Director (Client Services), ClimateCare – Oxford, UK
Digital Marketing Executive (B2B), ClimateCare – Oxford, UK
Consultant, Consolidating & Amending Approved CDM Recycling & Composting Methodologies, UNDP – Home-based
Climate Change Adaptation Strategy Manager, Network Rail – Milton Keynes, UK
Carbon Projects Officer, CO2balance – Taunton, UK
Portfolio Manager, Climate-KIC – Various European cities
Program Officer, Verified Carbon Standard (VCS) – Washington DC
Intern (voluntary), Carbon Market Institute – Melbourne
Summer internships, Carbon Credit Capital – New York

Or click here to see all our job adverts

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Bite-sized updates from around the world

TransCanada Corp. says three of its Alberta power plants will become unprofitable as a result of a changes to Alberta’s carbon levy, so it plans to terminate their power purchase agreements. (Globe and Mail)

The latest issue of Pitt & Sherry’s CEDEX takes a closer look at the underlying factors pushing up carbon emissions from Australia’s national electricity market in 2015.

And finally… A group of UK cross-party MPs and campaigners – led by former Labour leader Ed Miliband – are calling on lawmakers to make the country’s Paris carbon reduction targets legally-binding. The new legislation would significantly extend the UK’s current target to cut emissions by 80% by 2050. (Guardian)

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