CP Daily: Thursday August 18, 2016

Published 20:43 on August 18, 2016  /  Last updated at 20:43 on August 18, 2016  / Stian Reklev /  Newsletters

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

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NZ minister flags further changes to ETS

New Zealand will make further changes to its emissions trading scheme, Climate Change Minister Paula Bennett said Thursday, allaying market speculation that the second tranche of the ETS review might not spark any new amendments.

Brexit worries prompt BNEF to cut EUA price forecasts

Analysts at Bloomberg New Energy Finance have cut their EUA price forecasts by up to 15% as a result of uncertainty surrounding the UK’s decision to leave the EU.

EU Market: EUAs recover lost ground in another late spurt

EU carbon prices clawed back almost all the lost ground of the previous session after making steady gains and a final late spurt in thin trade on Thursday.

BP’s offset unit buys over $1m in VCS credits from US universities

Oil firm BP’s offsetting initiative has bought over $1 million in VCS voluntary carbon credits from three US universities that will use the proceeds to accelerate their aim of becoming carbon neutral by 2050.


Everything should be ok – Philippines president Rodrigo Duterte appears to have backed down on his threat to ignore the Paris Agreement after a meeting with US Secretary of State John Kerry, according to Climate Home.  “The President said in one of his interviews before that he was not in favour of this because of our economic situation in the country, but after the President spoke with the Secretary of State John Kerry, the President said that as long as it is fair to our economic situation, then everything should be okay,” said Duterte’s head of communications Martin Andanar, as reported by the Manila Sun Star.  The news agency also quoted another government official as saying Kerry had been “helpful in defining certain issues about the Paris pact.”

Spending carbon cash – The California state Senate has issued a proposal on how to spend $1.2 billion from the state’s carbon allowance auction revenue. A total $500m was proposed spent on low-carbon transportation, and a further $375 million on environmental justice and urban pollution programmes. Details here.

Manitoba – The Manitoba conservative government has appointed former PM Brian Mulroney’s chief of staff as a new senior advisor for climate change to help it prepare for this fall’s first ministers’ meeting, where the leaders are expected to devise a national climate action plan. David McLaughlin, who was also president and CEO of the National Round Table on the Environment and the Economy – a federally-funded advisory agency – between 2007 and 2012, is poised to remain in this role until the end of Mar. 2017, the Winnipeg Free Press reports. In his first throne speech, Manitoba’s new Premier Brian Pallister pledged to develop a provincial plan that will include carbon pricing.

Worth it – Dallas Fort Worth has become the first North American airport (24th world-wide) to achieve carbon neutrality, according to Green Air. The airport has cut its carbon emissions 29% since 2010, and has bought and cancelled renewable energy credits to make up for the remainder of its GHG output.

Not wasted – Project developer Sindicatum has voluntarily cancelled almost 8,000 CERs generated by an Indonesian methane wastewater facility on behalf of the French government, according to the UNFCCC, to help offset a portion of the estimated 33,800 tCO2e in international transport emissions caused by COP-21 last year.

And finally… Time to leave – The people of the Alaskan village of Shishmaref have voted to leave the grounds they have occupied for generations in the face of increasing problems due to climate change. Ice melt and melting permafrost chew up 10 feet of shoreline a year, and experts expect the entire island the village is located on to be gone within a couple of decades. Moving the village is expected to cost around $180 million, but the 650 locals have yet to decide where to go. (Daily Telegraph)

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