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Nine emerging nations have signalled their opposition to setting greenhouse gas emissions targets for international shipping ahead of the resumption of UN talks on the issue.
EU carbon prices barely budged on Tuesday to remain lodged just above €4 for the third successive session despite bearish warnings from analysts.
Philippe Joubert of the Global Electricity Initiative writes on how companies are increasingly taking the initiative in setting their own carbon pricing to prepare for policies to come.
One of Australia’s biggest carbon project developers has appointed a seasoned natural resource management specialist in a senior advisory role to help pave the way for more public-private project partnerships across Queensland.
*** Launching the ninth 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. All dossiers can be found on the ‘Resources’ tab on the home page ***
This 17-page dossier unpacks key details from what is due to become the world’s biggest carbon market. It has an overview of the impending national market, outlining issues yet to be resolved before its 2017 launch. It presents details about the seven pilot markets and how they are due to interact with the national scheme. It also features a summary of key elements by the International Carbon Action Partnership (ICAP).
BITE-SIZED UPDATES FROM AROUND THE WORLD
Paris countdown – It was overshadowed by Brazil’s ratification, but Panama also ratified the Paris Agreement on Monday, according to Fox News Latino. That takes the number of ratifications to 29, accounting for 41.61% of global emissions. The pact must be ratified by at least 26 more countries emitting at least 13.39% of the world’s GHGs to enter into force.
ICAO gets counting – Weeks ahead of its triennial assembly, UN aviation body ICAO is listing on its website the countries that have listed their intent to join its aviation carbon market. As reported in Carbon Pulse on Sep. 5, 49 nations have said they intend to opt-in from the start. The Marshall Islands has since added its name. The ICAO website is not clear on whether countries adding their name intend to join from the start but all of those so far listed have said they would.
Suit, unsupported – As litigators prepare oral arguments for the 24-state suit to stop the federal government from implementing the US Clean Power Plan (CPP), a Citizen Cabinet survey finds that two-thirds of registered voters in the states party to the suit (67%) actually favour the plan. Across the country as a whole, 69% approve of the CPP, the poll found.
Regulator audited – The Clean Energy Regulator (CER), which operates Australia’s Emissions Reduction Fund (ERF) has been scrutinised by the Australia National Audit Office (ANAO). The audit concluded that the CER has established sound arrangements to manage the crediting and selection of carbon abatement for purchase under the ERF although there are some aspects of the regulatory process that require further attention, such as the level of documentation underpinning some areas of regulatory decision-making. ANAO’s full report is available here.
When Irish eyes are in non-compliance – Ireland could face fines of up to €5.5 billion by 2030 if it fails to bring forward measures to reduce GHG in line with EU targets, the Irish Times reports. According to an analysis by the Institute of International and European Affairs, the cost of inaction on climate change could have serious implications for the fiscal space of future governments. It estimated Ireland is likely to be hit with a compliance bill of up to €610 million by 2020 for breaching its current renewables and emissions targets.
And finally… Wait, what? – One of Donald Trump’s new advisors believes that climate change represents a massive threat to America’s national security. Former CIA Director R. James Woolsey, who will advise the US Republican nominee, has been an advocate for cleaner energy, arguing that our current energy sources put us at “the whims of OPEC’s despots” and make us more vulnerable to terrorist attacks, Mother Jones reports. In 2013, Woolsey was one of dozens of national security experts who signed a statement declaring that climate change represents a “serious threat to American national security interests.” The “potential consequences are undeniable, and the cost of inaction, paid for in lives and valuable US resources, will be staggering … Washington must lead on this issue now,” the statement said. Separately, Politico reports that Trump has also hired Jeff Wood, a Republican lobbyist and former aide to Senator Jeff Sessions, to advise the candidate on energy policy.
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