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The Paris Agreement moved closer towards entering into force in 2016 as 31 more countries joined on Wednesday at an event hosted by UN chief Ban Ki-moon in New York.
Moves towards a North American carbon market will need to be driven by states and provinces, two Canadian environment ministers suggested on Wednesday, meaning sub-national governments would continue to be key pioneers in expanding carbon pricing globally.
The World Bank will target N2O projects via its third auction under its Pilot Auction Facility (PAF), the date of which has yet to be announced, according to details published on the institution’s website late on Tuesday.
China’s National Development and Reform Commission on Wednesday picked four provinces to host pilot energy permit trading schemes as the government seeks to use market-based policies to meet its energy consumption and overall environmental targets.
EU carbon prices edged higher on Wednesday on rising energy and after buyers stepped in once EUAs hit a three-day low earlier in the session following a weak auction.
Guangdong sold all 500,000 CO2 allowances on offer in Wednesday’s auction at 5.4% above the minimum price, the Guangzhou Emissions Exchange said.
Ukraine has said it will spend the remaining cash it received from selling AAUs on Japanese-manufactured hybrid cars to use for its police force, the BBC reported on Wednesday.
BITE-SIZED UPDATES FROM AROUND THE WORLD
German industry seeks more EUA freebies – A coalition of German industry associations, together with the federal economy ministry, is demanding changes to post-2020 EU ETS reforms. The group wants to “find the balance between the two goals of having a competitive industry and reaching climate targets”. In a press release, the Alliance Future of the Industry calls for changes such as a rise in the number of free certificates, warns of carbon leakage, and says that reaching climate goals was not possible without a strong, innovative industry. (H/T Clean Energy Wire)
Exxon probe – The US financial regulator is investigating how oil firm ExxonMobil valued its assets during the continuing slump in oil prices and how the company factors in climate risk when pricing its projects. The SEC requested information and documents from Exxon and the company’s auditor PricewaterhouseCoopers in August, as well as documents from New York Attorney General Eric Schneiderman’s similar investigation of the company. (Reuters)
Japan’s energy warning – Japan should balance and diversify its energy mix through a combination of renewable and nuclear energy and efficient thermal power generation, the IEA said in its latest review of Japan’s energy policies.
And finally… Scientists warn against Trump’s plan – 375 members of the US National Academy of Sciences warned in an open letter that Donald Trump’s plan for a US withdrawal from the Paris Agreement would hurt the nation’s international credibility and undermine the climate pact. (H/T Climate Nexus)
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