CP Daily: Tuesday July 12, 2016

Published 22:24 on July 12, 2016  /  Last updated at 22:24 on July 12, 2016  /  Newsletter  /  No Comments

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

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US Democrats set to campaign on carbon pricing promise

US Democrats are set to campaign in support of carbon pricing, according to Vermont senator and presidential candidate Bernie Sanders, after he and his supporters convinced the party’s leadership to take a more aggressive stance on climate change.

New index expects China’s national CO2 price to open below $4

Beijing-based Central University of Finance and Economics on Tuesday launched the Carbon Market Confidence Index (CMCI), showing that market participants expect the price in the national emissions trading scheme to open at around 26 yuan ($3.89), well below previous forecasts.

Most EU nations favour freer ETS without price controls -Sefcovic

Most EU nations favour market-based approaches to carbon pricing rather than France’s idea to more closely control EUA prices, according to Maros Sefcovic, the European Commission’s vice president on energy union.

EU Parliament industry committee diverges on free EUA share

Members of the European Parliament’s industry committee (ITRE) began to unpick hundreds of suggested changes to post-2020 ETS reforms on Tuesday, with co-ordinator Fredrick Federley urging the lawmakers to make compromises while several pleaded for more free units for factories.

EU Market: EUAs climb as energy prices soar

EU carbon prices ended in positive territory for the first time in six sessions on Tuesday after the energy complex was dragged higher by a 4% surge in oil prices.

Czechia cleared for 2016 EU ‘derogation’ allocation

Czechia has been given the go-head by the European Commission to hand out 15.8 million free EUAs to its utilities for 2016, making it once again one of the first countries to complete its annual allocation under Article 10c of the ETS Directive.

Prospective airline seeks to launch as carbon neutral

A new low-cost airline seeking to launch UK-India flights is planning to buy enough carbon credits to fully offset its emissions, it said Tuesday.

BITE-SIZED UPDATES FROM AROUND THE WORLD

Ahead of schedule – India could meet its carbon reduction goals earlier than expected, the country’s outgoing climate minister told a meeting in Delhi on Tuesday, according to Climate Home.  By 2030, the world’s fourth largest greenhouse gas emitter plans to cut the carbon intensity of GDP up to 35% on 2005 levels and boost the share of clean power in the energy mix to 40%.

No coal? No problem – German utilities would likely not be overburdened by a partial coal exit aimed at meeting the country’s climate targets, but emissions would shift to neighbouring countries, according to a new study by British consultancy Aurora Energy Research. A summary of the study seen by Clean Energy Wire suggests that under current policies Germany is set to miss its climate targets for 2030.  Titled “Closing the emissions gap: Germany’s 2030 climate policy options in the power sector”  the study examines three different scenarios that would allow Germany to meet its targets: a coal exit by 2040; a regional CO2-floor price for a selected group of ambitious countries; and the focused development of cogeneration power plants.

And finally… It’s The Donald vs. The World – Should he win November’s US presidential election, Donald Trump will be the only elected world leader to deny the science of climate change.  That’s the finding of a report from the Sierra Club after assessing the views of more than 190 heads of government.  Read more on this from Climate Home.

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