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Germany is drafting an economy-wide plan to achieve deep emission cuts by mid-century, but its struggle to phase out coal is teeing up a crunch early battle in the global clean energy transition.
EU Allowances will see a short-lived bump following the release of data next week showing higher-than-expected 2015 emissions, a team of New York-based analysts said, but prices are then expected to fall to new lows this summer.
EUAs slipped for a third consecutive session on Tuesday but recovered after briefly breaking below technical support levels that could trigger further selling and push prices towards their recent lows.
Bite-sized updates from around the world
Australia is considering a plan to combine two major climate bodies – the Clean Energy Finance Corporation (CEFC) and the Australian Renewable Energy Agency (Arena) – with both to be financed by borrowings rather than from federal budget allocations. The government has tried twice to abolish the agencies, but have been blocked by the Senate. (Guardian)
New climate czar Pershing charged with making Paris promises a reality – Jonathan Pershing, who will become the top US diplomat on climate issues next month, has spent the last three years at the Department of Energy working to make the country’s commitment in Paris easier to achieve. Since stepping down in 2013 as deputy to outgoing US Special Envoy for Climate Change Todd Stern, he has been responsible for helping the DOE align its advanced energy research and policy with the Obama administration’s climate priorities. And as he steps into his former boss’s shoes on Apr. 1 for the final months of Obama’s term, officials say Pershing is uniquely qualified to oversee implementation of the agreement he helped negotiate while also offering the technical and policy expertise he burnished in his DOE role to help the world meet its targets. (ClimateWire)
US Senate Majority Leader Mitch McConnell on Monday wrote the National Governors Association saying the recent Supreme Court decision to stay the Clean Power Plan proved he was right last year to encourage states to not comply with the EPA rule. He urged state officials to stop implementing the plan, and said ‘wait-and-see’ was the most responsible way to approach the president’s main climate plan.
And finally… Donald Trump has met with the Washington Post editorial board and answered a long list of questions, including on his stance on climate change. “I think there’s a change in weather. I am not a great believer in man-made climate change. I’m not a great believer. There is certainly a change in weather that goes – if you look, they had global cooling in the 1920s and now they have global warming, although now they don’t know if they have global warming,” the Republican presidential front-runner said. “I think our biggest form of climate change we should worry about is nuclear weapons,” he added. (Grist)
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