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EU carbon fell below €4 to its lowest for three years on Friday following the first regular-sized auction after a month of supply at well under half of average levels.
Britain’s June referendum in favour of exiting the EU had an immediate and sustained effect on EU ETS prices and left hundreds of installations unsure of their future in the scheme.
Closing prices, ranges and volumes for China’s regional pilot carbon markets this week.
*** Launching the eighth of our comprehensive, regularly-updated intelligence ‘Dossiers‘ on carbon pricing policies. Each dossier builds into a powerful online research tool with key news, analysis, quotes, data, charts, tables, timelines, supporting documents and links – all in one place. And they can all be exported in printable PDF format for convenient offline reading. ***
This 6-page dossier features an overview of this intensity-based scheme, its price history, key reforms and regulatory issues. It adds details on the programme’s use of international credits, its forestry loophole and potential to include agriculture. It also features a summary of key elements by the International Carbon Action Partnership (ICAP).
BITE-SIZED UPDATES FROM AROUND THE WORLD
Sure we can – PJM Interconnection, the biggest electricity grid in the United States, can meet the targets outlined in the Clean Power Plan with a rise in electricity prices of less than 3%, the company found in a CPP compliance assessment. Costs would be kept down by cheap natural gas, but the company said a regional approach would make the targets less costly than if each state pursues its own plan. (Bloomberg)
Tax was better – Many of Australia’s biggest emitters lost focus on CO2 emissions and abandoned energy projects when the government repealed the carbon pricing mechanism, according to a study by researchers at Swinburne University. “Almost all interviewees in our research agreed that the carbon tax had been an effective mechanism when it was in place. Certain companies have a clear expectation a carbon price will re-emerge. They are proactively monitoring this issue,” the researchers say in this piece written for The Conversation (ABC).
And finally … We’ve not seen the last of him – US President Barack Obama plans to keep pushing for action on climate change after his presidency ends in January. En-route to the G20 leaders meeting in China, Obama told reporters that plans to use his “megaphone that even an ex-president has” to raise awareness and craft policies. Part of that will mean reaching out to resistant US Republicans by arguing to them that if the private sector is embracing an agenda of clean energy and dealing with climate change effectively there’s no reason why this is something that should be a partisan issue. (The Hill)
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