CP Daily: Monday August 1, 2016

Published 17:54 on August 1, 2016  /  Last updated at 17:58 on August 1, 2016  /  Newsletter  /  No Comments

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

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Vattenfall loses court case over CO2 from under-construction power plant

Europe’s top court has ruled against Vattenfall in a case in which the utility had argued that it should not have to surrender CO2 allowances to cover emissions from a power plant in the construction phase.

EU Market: EUAs slip again, near 2016 low

European carbon dipped for a third straight day due to speculative selling and lower oil, as prices pressed against a key technical support level.

Formerly CTX, Colonial Bourses sets sights on California carbon market

Following a rebrand and the introduction of an enhanced trading platform, environmental exchange operator Colonial Bourses – formerly Carbon Trade Exchange (CTX) – is now eyeing an expansion into California’s carbon market.

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Job listings this week:

Emissions Trader – London
Manager, Climate Change & Emissions Trading Systems, British Steel – Scunthorpe, UK
Director, Climate Change, Department of Environment, Water and Natural Resources, South Australia Govt – Adelaide
Senior Director, Green Climate Fund Implementing Agency, Conservation International – Arlington, Virginia
Senior Consultant, Climate Finance, Ecofys – Berlin/Cologne/London/Utrecht
Regional Climate and Energy Policy Manager, The Nature Conservancy – Northeast US
Climate Change Consultant, ICF – Washington DC
Senior Accounting Manager, The Climate Trust – Portland, Oregon
Research Officer, Green Growth/New Climate Economy, ODI – London
Technical Assistant Intern, Perspectives – Alicante, Spain

Or click here to see all our job adverts

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BITE-SIZED UPDATES FROM AROUND THE WORLD

And then there were 21 – That’s the latest count of countries that have deposited an instrument of ratification, acceptance, approval or accession with the UNFCCC and are therefore considered to have satisfied the provisions of the Paris Agreement.  According to the list, Norway, Peru and Cameroon are the latest to have officially approved the treaty, though other governments such as France and Hungary have ratified it but don’t yet appear.  The UN said the 21 nations account for 0.85% of global emissions, meaning the goal of at least 55% from 55 countries remains well in the distance.

Bye-bye nukes, hello fossil fuels – GHG emissions will rise in parts of the US when natural gas and coal plants replace electricity provided by nuclear plants that are scheduled to close, analysts and climate change experts predict.  “In the near term, emissions are going to increase,” Doug Vine, a senior energy fellow at C2ES, told Bloomberg BNA. He said in the past, combined cycle natural gas plants have replaced closed nuclear plants, and “we assume that’d continue at least through the 2025 time frame.” To date, seven plants (encompassing nine reactors) are scheduled to close between 2016 and 2025.

EU clean cash – The European Investment Bank is investing up to €62 million (US$69m) in a renewable energy fund, it announced on Friday. Under a target to put a quarter of its lending towards tackling climate change, the EIB is channeling money through SUSI Partners into wind and solar power, Climate Home reported. The Swiss investment firm has so far financed 170MW of clean electricity capacity across five EU member states.

Orange alert – Guangdong carbon exchange to be closed on Tuesday because the province is under orange alert as Typhoon Nida, which battered the Philippines over the weekend, is now making its way towards Hong Kong and the Chinese mainland. The exchange expects to be open as usual on Wednesday.

And finally… Gary wants one – Libertarian party candidate and potential US presidential election spoiler Gary Johnson supports the introduction of a carbon tax, he told the LA Times in an interview published on Monday. “I’m open to the notion of a carbon tax. That it does have an impact, that it ends up being revenue-neutral. I’m not looking at this as a revenue generator, as much as there are costs associated with, there are health and safety issues with carbon,” he said. Johnson added that he “believes” in man-made climate change, and that the free market has “brought an end” to America’s coal industry rather than President Obama and his administration, as some Republicans have claimed.

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