CP Daily: Friday May 13, 2016

Published 19:00 on May 13, 2016  /  Last updated at 19:00 on May 13, 2016  /  Newsletter  /  No Comments

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

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Japan, Indonesia issue first carbon offset credits under JCM

Japan’s Joint Crediting Mechanism (JCM) has passed an important milestone as the first ever carbon credits have been issued under the programme for emission cuts achieved at two projects in Indonesia.

Sellers achieve $2.09/t price for carbon credits in second World Bank PAF auction

Sellers achieved an effective price of $2.09 (€1.84) per carbon credit at the second auction of the World Bank’s Pilot Auction Facility (PAF) held on Thursday, almost in line with the $2.10 achieved in the previous sale last July

Peru, Sri Lanka get World Bank funding to develop carbon crediting mechanisms

Three countries have received funding under the World Bank’s Partnership for Market Readiness (PMR) to set up MRV systems and develop crediting mechanisms that could generate carbon offsets for international buyers.

EU Market: EUAs drift in thin trade to end virtually flat for week

EU carbon prices gained slightly on Friday in becalmed trade to leave the contract just a cent above last week’s close.

Five countries issue 2.7 mln more EUAs for 2016, final EU Commission update shows

Five countries issued a total 2.7 million free EUAs to industry for their 2016 emissions over the past fortnight, the European Commission said in its final allocation update for this year.

NZ Market: NZUs edge lower as market awaits review

Spot NZUs weakened over the week and volumes dropped as buyers stepped back, awaiting clarification from the government on new market rules.

CN Markets: Pilot market data for week ending May 13, 2016

Closing prices, ranges and volumes for China’s regional pilot carbon markets this week.

Voluntary market data from CTX for May 13, 2016

A table of Verified Emission Reduction (VER) prices and offered volumes, based on voluntary market data provided by Carbon Trade Exchange (CTX).

BITE-SIZED UPDATES FROM AROUND THE WORLD

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Trump’s new guy to push for CO2 tax– Republican US presidential contender Donald Trump has turned to Kevin Cramer, one of America’s most ardent drilling advocates and climate change sceptics to help him draft his energy policy, Reuters reported, citing anonymous sources. The Republican Congressman said he’ll push for Trump to endorse a CO2 tax on carbon dioxide emissions. He told E&E that while he is sceptical of whether climate change is caused by human activity, a carbon tax would answer the public appetite for action to protect the climate and could also serve as a substitute for the Obama administration’s Clean Power Plan. “My advice would be, while I’m a skeptic, as well, he is a product of political populism, and political populism believes that there needs [to be] some addressing of climate change,” he said. (The Hill)

Carbon market mini-series – In the third instalment of ClimateWire’s six-part series about the highs and lows of carbon markets, dubbed America’s most complex export, John Fialka and Debra Kahn explain how America’s regions learned from Europe’s mistakes.

And finally… Oregano the key to killing cow burps – Danish scientists are testing whether the tasty herb’s essential oils can kill the bacteria in cows stomachs that are to blame for the gassy animal’s methane-laden burps. They hope this oregano feed could reduce methane emissions by up to 25%. (NPR)

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