CP Daily: Tuesday July 19, 2016

Published 19:36 on July 19, 2016  /  Last updated at 19:36 on July 19, 2016  /  Newsletter  /  No Comments

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

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Korea hints it will increase allocation for ETS

Doling out more free CO2 allowances is on the list of ETS fixes planned by the Korean government, a senior official said.

Regulating Swiss flights under EU ETS legal says ECJ advisor

The EU is not obligated to treat equally under its ETS flights between Switzerland and the bloc and those to and from countries outside of Europe, a legal advisor to the EU’s top court said Tuesday, in an influential opinion likely to ensure Swiss aviation emissions stay heavily regulated.

Australia’s Frydenberg to face climate policy challenge next month

Australia’s new energy and environment minister will face his first climate policy task next month when government advisor the Climate Change Authority (CCA) will complete its special review, widely expected to recommend a mandatory carbon pricing system.

EU Market: EUAs sink further despite more analyst bulls

EU carbon dipped for the second day in a row on Tuesday as a weaker energy complex dented sentiment despite more analyst predictions that EUA prices could rise.

Senior Statoil analyst joins Point Carbon

Thomson Reuters Point Carbon has hired a market analyst from Norway’s Statoil to cover emissions, Carbon Pulse has learned.

BITE-SIZED UPDATES FROM AROUND THE WORLD

Shipping boom, carbon bust – East Asian ship traffic has more than doubled in the past decade, pushing the region’s share of global CO2 emissions from shipping to 16% and releasing air pollutants causing 24,000 premature deaths a year, according to a new report. (Reuters)

They’re on it – China’s eastern Zhejiang province, one of the richest in the country, has released its carbon market construction plan, a sign its scheme will likely be ready when the national ETS begins next year. A lot of weight is put on capacity building but Zhejiang officials said they would focus on improving the market over 2018-2020, and are open to including emitters beyond those sectors identified by the central government to ensure all major CO2 sources are brought into the scheme. The plan is available in Chinese.

Ducks must line up for Dutch CCS – A €500m final investment decision for Rotterdam’s ROAD CCS project might be delayed to early next year as co-developers Uniper await the fate of a Netherland’s decision to phase-out coal power, which analysts say would exempt the utility’s brand new Maasvlakte plant that had been deemed integral to ROAD. Read more from Reuters.

A Noble exit – Noble Group Ltd. plans to quit power and natural gas trading in Europe by the end of the year as the embattled commodities trading house cuts capital-intensive businesses, according to three people familiar with the matter, Bloomberg reports. The Hong Kong-based company is reported to be winding down its books in European power and natural gas and probably carbon, with traders and support staff leaving the company.

And finally… 11 ways to torch the planet – The US Republican Party’s 2016 platform, released on Monday at its national convention in Cleveland, has a perhaps ironic section called “Environmental Progress” in which the right-wingers pledge to dismantle various environmental regulations around GHGs and fracking, while withdrawing the country from the Paris Agreement and abolishing the EPA.  Grist lists 11 different ways the platform attacks the environment.

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