CP Daily: Tuesday August 30, 2016

Published 23:28 on August 30, 2016  /  Last updated at 23:28 on August 30, 2016  /  Newsletter  /  No Comments

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

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Countries near agreement on opt-in start to airline carbon market

Governments are nearing consensus on a six-year delay to the start to a mandatory scheme to offset international flight emissions but have inserted clauses that raise doubts over which airlines will be covered under a voluntary phase from 2021.

Australian advisory body to recommend intensity-based CO2 trading

Australia’s Climate Change Authority will on Wednesday recommend an intensity-based emissions trading scheme for electricity generators and a strengthened Safeguard Mechanism, The Guardian reported on Tuesday.

EU Market: EUAs drop 3.2% as traders bet on auction-led weakness

EU carbon prices dipped on Tuesday as speculators sold in anticipation that prices would fall when auction supply ramps up at the end of the week.

Senior carbon analyst leaves SocGen to start new company

A senior carbon and energy analyst has left Societe Generale to start his own trading and advisory company.

BITE-SIZED UPDATES FROM AROUND THE WORLD

Insure a G20 fossil phase-out – Aviva, Aegon and Amlin, three of the world’s biggest insurers, called on the G20 to set a timetable for a “full and equitable” phase out of subsidies for fossil fuels by 2020. They said fossil fuel subsidies were at odds with nations’ commitments under the Paris Agreement and must go further than the G20’s current commitment to phase out “inefficient fossil fuel subsidies that encourage wasteful consumption” over the “medium term”. The G20 meets in the Chinese city of Hangzhou on Sept. 4-5. (Climate Home)

Germany clinches EU deal for co-gen plants – Berlin and Brussels have resolved a dispute so that German firms that generate power for their own consumption can remain exempt from a green energy surcharge. Economy Minister Sigmar Gabriel said the agreement covers existing so-called KWK plants with co-generation systems combining heat and power production. Future KWK plants, however, will have to pay 40% of the levy from 2017. Until now most energy-intensive industries have been exempted from paying the surcharge. (Reuters)

And finally … It’s time to have a conversation about flatulent cows – Bloomberg focuses on the issue of cutting methane emissions from agriculture, profiling the scale of the challenge to align with the 2C goal and showcasing some initiatives. In Argentina, scientists are using cow ‘methane backpacks’ to capture methane from their digestive tracts. So far, the backpacks have been able to extract 300 litres of methane a day, enough to power a car or refrigerator.

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