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New Zealand’s heavy reliance on dodgy ERUs to meet its emissions targets up to 2020 makes it “party to fraud” and could spark serious repercussions from other nations, according to a report released Monday.
Vattenfall on Monday signed a deal to sell its loss-making German lignite operations to privately-held Czech investor EPH, confirming a move that will substantially cut the Swedish state-owned utility’s carbon footprint.
European carbon prices climbed back from a five-day low to end Monday little changed, recovering earlier losses alongside crude oil, but market observers noted several bearish warning signs ahead.
A joint UK-France proposal to introduce four tiers of post-2020 free EUA allocation would benefit chemical plants and refineries companies at the expense of other industries including cement and heat, according to consultancy Ecofys.
The EU should impose a minimum EU ETS price to create more certainty for investors and counter a recent trend that has allowed it to become a “betting shop for policy decisions”, German researchers recommended.
Job listings this week:
Portfolio Manager, ClimateCare – Oxford, UK
Business Development Manager, ClimateCare – Oxford, UK
GHG Inventory Expert, Reporting for Results-Based REDD+ (RRR+), CfRN – Rome/New York
Internship, Green Climate Fund (GCF) – Songdo, South Korea
Program Manager, Climate Change Adaptation, Plan International Australia – Melbourne
Carbon Farming Client Manager, Climate Friendly – Sydney
Account Manager, Climate Friendly – Sydney
Assistant/Associate/Full Specialist, Climate Policy, IRLE, UC Berkeley – California
Manager, Energy Products, CME – London
Energy Finance Analyst, Climate Policy Initiative – London
Or click here to see all our job adverts
BITE-SIZED UPDATES FROM AROUND THE WORLD
More methanier than expected – US methane emissions from the oil and gas industry are a third higher than previously estimated, the Environmental Protection Agency announced in its annual GHG inventory submission to the UN. This makes the fossil fuel industry the largest source of methane emissions in the US, accounting for one-third of the country’s total methane emissions. (H/T Climate Nexus)
BC offset buying lives on – British Columbia has purchased more than C$50 million worth of provincially-sourced carbon offsets, the Vancouver Sun reported. BC’s Pacific Carbon Trust was eliminated in 2013, but its work as a broker of carbon credits continues through provincial Ministry of Environment’s Climate Action Secretariat.
IMO has another tilt at tackling maritime emissions – The environment body of the UN’s shipping body sits in London this week. Opening the session, IMO Secretary General Kitack Lim vowed that the “absence of any specific mentioning of shipping in the final text of the Paris Agreement will in no way diminish [the IMO’s] strong commitment to continue to address GHGs from international shipping”. The meeting’s agenda was adopted today, meaning negotiators will address proposals on regulating greenhouse gases on Thursday, to conclude on Friday.
Poland feels the pain of its love affair with coal – Reuters examines the context surrounding the fate of the nation’s biggest mining firm, which risks running out of cash at the end of the month, and why funds that have previously somehow appeared to bail out the sector may not appear this time.
And finally… C’est une mystere! – At some point during the Paris negotiations, a proposed line requiring the agreement to go into force no earlier than 2020 disappeared – and no one is saying who did it, Politco reports ($). The date’s removal could allow the deal to go into effect years earlier (when at least 55 countries representing at least 55% of global emissions ratify it), making it more complicated for a Republican US president to withdraw. Politco’s Andrew Restuccia investigated where the 2020 language went, noting that the provision was in drafts right up to the end of the talks. The prevailing theory so far is that French negotiators removed the line knowing that major emitting countries including the US would support seeing it go.
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