CP Daily: Tuesday September 27, 2016

Published 22:00 on September 27, 2016  /  Last updated at 22:00 on September 27, 2016  / Carbon Pulse /  Newsletters

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

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CN Markets: China CO2 prices in limbo as uncertainties linger over shift to national ETS

Prices in most of China’s seven pilot carbon markets are barely budging with limited trading activity as traders fear getting caught out by as-yet unpublished rules on how pilot market allowances will carry forward into the national ETS.

EU industry groups unite to protest against tiered allocation

Fifteen big-emitting industries likely to not be in the top tier of post-2020 free EU ETS handouts joined forces on Tuesday to urge lawmakers not to adopt tiered allocation.

Re-base the EU ETS cap to prevent new surplus building -CAN Europe

Environmental campaigners are urging EU lawmakers to change ETS rules to re-base the 2020 emissions cap, which they say will prevent an additional surplus of up to 2.4 billion EUAs next decade.

EU Market: EUAs run out of steam, sink back below €4.50

EU carbon prices fell for the first time in five sessions on Tuesday as a weak auction and unfavourable energy complex tempted traders to take profits following the recent rally.


Court in session – 27 states and industry groups opened their case today against the Environmental Protection Agency’s Clean Power Plan rules before the DC Circuit Court of Appeals. A ruling is unlikely before the end of the year and possibly not until after Obama leaves office on Jan. 20, and will likely be dragged out further. If Donald Trump wins the Nov. 8 presidential election, the government could reverse the rules or decline to appeal to the Supreme Court should the DC court strike them down. If Clinton is elected, the losing side in the appeals court ruling could be expected to take the case to the Supreme Court. Read Carbon Pulse’s take on why a surprise addition to the panel of judges in today’s hearing may have just tipped the odds in favour of the measure surviving the landmark legal challenge.

Look to Lux – The Luxembourg Stock Exchange today launched the world’s first exchange to trade nothing but green securities. The Luxembourg Green Exchange, also known as LGX, intends to act as a gatekeeper for green bonds and other environmentally-focused financial instruments to help reduce ambiguity in the market. It will not set criteria but plans to allow investors to choose what matches their internal policies, based on the mandatory level of disclosure for issuers and let companies pick how they report this information. (Bloomberg)

Gas panic – US utilities are continuing to go all-in on building new gas infrastructure, insisting that they are taking the risk of being left with stranded assets into account as scientists warn that the climate benefit of the switch from coal-to-gas is nearing its limit as the nation’s carbon budget runs out. (Utility Dive)

And finally… Climate run-in – Climate change got an early airing during last night’s first US presidential debate as Hillary Clinton said rival Donald Trump believes climate change is “a hoax perpetrated by the Chinese.” Trump rejected this but fact-checkers pointed out he has called it a hoax numerous times.  (Think Progress)

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