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Liquidity has picked up in South Korea’s emissions trading scheme in recent weeks, but prices have barely moved as market participants await the outcome of talks between government officials and industry groups over possible changes to allocation levels.
The UK should set up and fund a CCS delivery company to kickstart British projects for a guaranteed £85/MWh electricity price and pay industrial firms to bury their emissions, a report said Monday.
EU carbon prices dipped slightly on Monday after the EU’s auction cleared well below market as analysts predicted prices could come under further pressure this week.
Natural capital asset management firm Althelia Ecosphere has hired a former BG Group executive to head up its new sales venture.
Job listings this week:
China carbon market analyst, Thomson Reuters Point Carbon – Beijing
Renewable Energy Certificiate (REC) Broker, Emission Advisors – Houston (Flexible Location)
Principal Consultant, Climate/Low Carbon Transition, ERM – London/Oxford
Or click here to see all our job adverts
BITE-SIZED UPDATES FROM AROUND THE WORLD
Brazil’s backing – The country – home to the largest tropical rainforest on earth – ratified the Paris climate agreement Monday, making it the third-largest emitter to have done so after China and the US. “We are following a path Brazil started on long ago … The climate issue is for the state. It is an obligation for all governments,” President Michel Temer said during a ceremony announcing the agreement in the capital Brasilia, as reported by the Washington Post. Temer has only just succeeded Dilma Rousseff, who was impeached last month amid a massive corruption scandal in the country.
Offshore wind spins up – The Obama administration unveiled the National Offshore Wind Strategy aimed at driving major investment in wind farms along the US coastline. The plan envisions 86 gigawatts of electricity generated by offshore wind by 2050, which could reduce US emissions by 1.8%, support approximately 160,000 jobs and power 23 million homes. America’s first 30-megawatt wind farm off of Rhode Island is expected to begin operating in early November. (H/T Climate Nexus)
Top 3 – Renewables are a top-3 energy source in 23 US states, and are quickly becoming “mainstream” in the country, according to data from the US EIA analysed by Renewable Energy World. According to Utility Dive, estimates suggest the number could rise above 25 by 2020. It added that the number with coal as their primary source fell to around 20 in 2025, down from more than 30 in 2000, and that natural gas is expected to edge out coal on a national level this year.
Tax time – With Americans consuming record amounts of gasoline, the Washington Post’s editorial board is pushing for a carbon tax. Read their editorial here.
Reykjavik cleans up its act – The Icelandic capital is aiming to become carbon neutral by 2040 by imposing strict limits on urban sprawl and improving the efficiency of public transport, according to a plan unveiled by the city’s mayor. (Thomson Reuters Foundation)
And finally… Christiana pulls out – Christiana Figueres has left the contest to succeed Ban Ki-moon as the UN’s secretary general, she announced on Monday. The former UN climate chief had hoped her success in that role would translate into support from governments for her bid, but a series of straw polls among the UN Security Council saw Figueres finish close to bottom, receiving support from just two countries, Climate Home reports. Portugal’s former PM Antonio Guterres topped a Sep. 9 ballot with 10 of the Council’s 15 members voting in favour, leaving him just ahead of Slovakia’s Miroslav Lajcak in second place. Nine candidates remain in the running, with an appointment due by December.
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