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Russia to deepen 2030 emissions target, its companies to move on carbon pricing
Russia will revise upwards its emissions reduction target for 2030, the country’s deputy prime minister said Monday.
CDM projects in frame for boost as green financiers hover
Thousands of carbon-cutting projects in the UN’s CDM could be in line for a financial shot-in-the-arm, with dozens potentially benefitting as early as this year, as bankers seek to package the schemes under green bonds.
End of an era? Carbon Expo’s future in doubt as attendance dwindles
The future of Carbon Expo, the pre-eminent conference and trade fair for the global carbon markets and climate finance industry, is in doubt amid falling attendance and as sources said some of its organisers want to give the annual event a makeover that could include hosting it in a new location.
NZ Treasury estimates ETS change will shave two-thirds of permit surplus, keep CO2 price below NZ$25
New Zealand’s decision to phase out the 2-for-1 rule in its emissions trading scheme over the next three years is likely to reduce the NZU surplus in the registry by nearly two-thirds by 2020 and keep the price below NZ$25 ($16.72) per tonne, according to the Treasury.
Guangdong carbon broker wins custodial trading contract with Shenzhen Energy Group
Broker Vcarbon has signed a contract to handle CO2 allowances on behalf of the Shenzhen Energy Group in Guangdong’s emissions trading scheme, the local exchange announced, the first custodial trading contract signed in the Guangdong market.
Guangdong to hold final 2015 auction on June 8
The Guangdong carbon exchange will host the fourth and final government auction of CO2 allowances for 2015 on June 8, it said Monday.
SK Market: KAUs extend losses ahead of this week’s auctions
Korean Allowance Units (KAUs) fell another 2.4% in Monday trade as sellers sought to offload some of their surplus permits ahead of three government auctions later in the week that are expected to satisfy most market demand.
EU Market: EUAs nudge higher as volume slows to a trickle
EU carbon prices rose slightly on Monday but volumes were very low due to a public holiday in the UK and US, and as traders awaited an EU Parliament report on ETS reform.
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Job listings this week:
Senior Director, Green Climate Fund Implementing Agency – Arlington, Virginia
Director, Climate Change & Natural Resources, Support to Marshall Islands & its leadership of “High Ambition Coalition”
Research fellow, Implementing the Paris Agreement: Linking National Policy Processes & International Governance – IDDRI
Or click here to see all our job adverts
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BITE-SIZED UPDATES FROM AROUND THE WORLD
Glossing over differences – The Parliament Magazine, a glossy Brussels fortnightly, went big on the EU ETS with its latest edition. MEP Ian Duncan spoke of the need to “dry up the allowances flooding the market” and touted his ability to find compromises. This looks like it will come in very handy as he steers ETS reforms through the assembly: Duncan admitted his ECR political grouping wasn’t big enough to bulldozer through any measures, and that not even everyone in it agreed with him. The rest of the magazine exposed more differences: while energy trading lobby EFET warns about the risk of overlapping policies, Green MEPs call for more with a ‘complimentary’ emission performance standard for power. And although Fertilisers Europe are all for tiering free allocations, paper lobby CEPI are dead against it.
Re-splitting Germany? – The European Commission “is threatening to split [Germany] into two power price zones,” which would make power more expensive in the South than in the North, according to information obtained by Die Welt. Germany has stalled grid development for years, and excess power flowing into neighbouring countries has been “a source of political conflict and hindered the integration of the western and eastern European electricity markets,” Die Welt said, citing a source in Brussels. The Commission wants to present plans for a new market design, including the idea of price zones at the end of the year, writes Die Welt. (H/T Clean Energy Wire)
Don’t do it, Justin! – Nearly 100 climate change scientists have urged the Canadian government to reject Petronas’ application to launch an LNG project in British Columbia, which they say would make it virtually impossible for the province to meet its GHG targets and undermine Canada’s obligations under the Paris Agreement.
Indonesian coal ticking down – Recent reports about coal surging in east and south-east Asian nations have sparked some concerns about the world’s emissions trajectory, despite the Paris Agreement. Some good news from Indonesia, the world’s top thermal coal exporter, on Monday as Reuters reported output will fall next year – although only by around 2%.
And finally… The other guy – Former New Mexico Governor Gary Johnson won the 2016 Libertarian Party nomination for US President on Sunday. Ordinarily, the party and its candidates attract little attention in a presidential race, but Johnson might do much better this time around due to Clinton’s and Trump’s high unfavourable ratings. Where does he stand on the issues we at Carbon Pulse care about most? According to the New American, Johnson accepts the thesis that human activity impacts the climate, but he opposes mandatory cap-and-trade policies, instead favouring the building of more coal-fired power plants, as well as nuclear.
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