CP Daily: Tuesday October 25, 2016

Published 18:35 on October 25, 2016  /  Last updated at 18:35 on October 25, 2016  /  Newsletter  /  No Comments

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

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China expects initial ETS carbon price in $5-15 range -official

The CO2 price in China’s national emissions trading scheme is likely to stay in the 30-100 yuan range ($4.43-14.76) in the first three years, a government official said Tuesday, the lower end of what is expected to be necessary for China to meet its 2030 Paris Agreement emissions target.

China official confirms 2020 carbon tax plan

China is drawing up a proposal to tax carbon emissions from non-ETS sectors and small- and medium-sized enterprises from 2020, a National Development and Reform Commission (NDRC) official said in Beijing on Tuesday.

Emerging economies shirk carving out GHG goal for shipping

Countries at the UN’s maritime body were divided on Tuesday over how urgently to address emissions from international shipping and whether to establish a firm reduction target or even contribute towards meeting the Paris Agreement’s 2C global warming goal.

EU Market: EUAs end flat despite volatile session, sub-standard auction

European carbon ended unchanged on Tuesday after fluctuating in a fairly wide range amid a poor permit auction turnout and what appeared to be brisk technical selling.

BITE-SIZED UPDATES FROM AROUND THE WORLD

Renewables ruled in 2015 – There was a record amount of new renewable energy installations globally in 2015, with an average 500,000 solar panels installed daily. According to the International Energy Agency, total clean power capacity increased by 153 GW, overtaking coal for the first time. The agency also raised its five-year forecast for renewable energy by 13% and now expects renewables to be 42% of global energy capacity by 2021. (H/T Climate Nexus)

Meanwhile in Spain, Sweden – The director of one of Spain’s top power companies has predicted the country will eventually become 100% reliant on renewable energy, the Independent reports.  Acciona boss Miguel Ezpeleta said there is currently enough wind energy being generated to power 29 million Spanish homes daily.   And on the other side of the continent, Sweden is on track to produce all its energy from renewables by 2040, a top regulatory official from the country said late on Monday.  Renewables such as hydro and wind last year accounted for 57% of the Nordic nation’s 159 TWh of power production, Reuters reports, with most of the rest coming from nuclear, said Anne Vadasz Nilsson, Director General of the Swedish Energy Markets Inspectorate.

Europe’s climate cash – The EU in 2015 provided €17.6 billion to help developing countries tackle climate change, it announced on Tuesday, a rise from the €14.5 billion pledged in 2014.  The figure was confirmed at a meeting of the EU Economic and Financial Committee.  “This demonstrates the EU’s determination to contribute its fair share of the goal set by developed countries to provide $100 billion in annual finance to developing countries from various sources by 2020,” the European Commission said.

US transportation needs to green it up – Environment America released a report Monday arguing the nation’s transportation system needs to be rethought if the US intends to hit its climate goals, Politico reports. Recommendations include giving funding prioritisation to low-carbon transportation, speeding the deployment of electric vehicles and encouraging the development of cities with lots of opportunities for biking and walking.

And finally… Laudato Say What? – When Pope Francis released his groundbreaking encyclical Laudato Si last year, there were hopes his moral clout would transcend the US partisan divide on climate change.  Surely even Republican Catholics, a sceptical crowd, had to listen to the head of their church calling on them to care for God’s creation?  Not so, according to a study from the University of Pennsylvania, published in the journal Climatic Change. In fact, the Pope’s intervention only polarised the debate further, Climate Home reports.

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