CP Daily: Tuesday August 9, 2016

Published 18:29 on August 9, 2016  /  Last updated at 18:29 on August 9, 2016  /  Newsletter  /  No Comments

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

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CEZ power output gets dirtier as coal fills nuclear gap

Power output at eastern European utility CEZ dipped 1% over the second quarter but the company’s demand for EUAs soared as revamped coal-fired units were able to cover for lower nuclear production.

Sichuan first Chinese province to publish ETS regulations

China’s Sichuan on Tuesday became the first province outside the seven with pilot carbon markets to release detailed rules and regulations for its role in the national emissions trading scheme, revealing plans to set up its own market adjustment reserve.

EU Market: EUAs fade after weak auction

EU carbon slipped to break a five-day upward move as demand for government auctions showed the first signs of weakness this month and dark spreads weighed.

EEX extends Belektron’s EUA market making role to derivatives

Energy exchange EEX has extended Slovenian tradinghouse Belektron’s market making activities into its EUA derivatives market, the bourse said Tuesday.

Australia’s Sensis turns to CDM to meet voluntary target

The advertising arm of Australia’s biggest telecom company has bought and cancelled over 30,000 CERs generated in China to meet its voluntary carbon neutral commitments, a shift from earlier years when it has primarily relied on voluntary offsets.

BITE-SIZED UPDATES FROM AROUND THE WORLD

Trump holds firm on climate reversal – Republican US presidential nominee Donald Trump promised to undo existing environmental regulations and revive the coal industry in a speech outlining his economic plan on Monday that reaffirmed many of his earlier pledges in an effort to halt his recent slide in polls. He said that if elected he would revive the stalled Keystone XL oil pipeline project and slash environmental rules along with a swathe of other regulation. He repeated previous intentions to rescind the “job destroying” Clean Power Plan, cancel the Paris Agreement and halt US payments to all UN climate programmes. (Trump campaign press release)

Credit where it’s not due?British Colombia’s carbon neutrality mandate come under scrutiny from the Business Vancouver, which is critical of the policy it says leads to the most fines being weighed against school authorities with growing enrolment, forcing greater use of less-efficient temporary classrooms. The newspaper also says most of the revenues raised from carbon fines go to the least effective for measurable reductions – forest management.

And finally – All aboard the offset expressGerman rail firm DB Cargo claims to have run the first climate neutral train between the European mainland and the UK. Using consultancy Atmosfair, the firm bought credits from a Gold Standard CDM clean cookstove project in Rwanda as part of its Eco Neutral programme. (Railway Technology)

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