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Government researchers on Tuesday for the first time outlined a draft CO2 allocation plan for the power sector under China’s national emissions trading scheme, indicating that utilities’ free allowance handouts will be reduced annually from the outset.
EU carbon prices rose and held above €6 on Tuesday, overcoming a major psychological obstacle amid further coal-led energy gains and despite a public holiday.
China should put in place a tight 2020 coal consumption cap along with other measures such as a carbon tax to set itself on track to beat its Paris targets by five years, a consortium of leading think-tanks and industry groups said Tuesday.
Carbon intensity among the Group of 20 major economies slightly increased its rate of decline in 2015, a sign that the world is sustaining its trend of decoupling GDP from emissions but at a rate too slow to prevent dangerous warming, an analysis by consultancy PwC found.
The recent agreement by the International Maritime Organization (IMO) to a develop a comprehensive CO2 reduction road map is a significant decision giving further impetus to the substantial CO2 reductions that are already being delivered by the shipping industry, writes Simon Bennett of the International Chamber of Shipping.
Access to the EU’s emissions trading registry will be suspended for 24 hours to allow for a software upgrade, the European Commission announced on Monday.
Job listings this week:
ETS Project Director, GIZ – Beijing
Senior Sourcing Manager, Green Electricity and VERs, First Climate – Bad Vilbel/Frankfurt
Business Development Manager – EcoAct, New York
Technical Consultant, ICAO – Burkina Faso
Various roles, Climate Bonds Initiative – London, Beijing, Mumbai
GHG Inventory Expert, Coalition for Rainforest Nations – Rome/New York
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BITE-SIZED UPDATES FROM AROUND THE WORLD
Not wise – A wise leader takes policy stands that conform with global trends, Xie Zhenhua, China’s special representative on climate change, said Tuesday when asked about Donald Trump’s threat to tear up the Paris Agreement if he gets elected president. Xie spoke to reporters ahead of next week’s UN climate conference in Marrakech, and said the US’ economic and social progress would be affected if it follows Trump on climate. (Reuters)
Asia clean energy slump – Investment in clean-power technologies in Asia slumped 41% to $70.1 billion in the first nine months of the year, according to Bloomberg New Energy Finance, as governments from China to Japan are scaling back subsidies to constrain a boom in installations, (Bloomberg)
Shanghai plan – Shanghai government officials have finalised the 2016 CO2 allocation plan for its emissions trading scheme, local media reported Tuesday, although no further information was given other than that the number of covered companies has ballooned to 315 from about 200, an expansion first announced in February. Permits have not yet been distributed to ETS participants, but are expected to be so soon as the local carbon exchange is set to reopen later this month after having been closed since July 1.
Content over speed – German Environment Minister Barbara Hendricks does not expect the cabinet to approve her Climate Action Plan 2050 before COP22 in Marrakesh next week and thinks it could take until December, she told a panel discussion organised by news service Tagesspiegel and the German development agency GIZ in Berlin. Hendricks said she attached more value to content than speed though green groups said not having the plan in Marrakesh would be “an embarrassment for Germany”. (Clean Energy Wire)
Not yet decided – The German government does not yet have a unified position on the reform of the EU ETS planned for next year, according to Handelsblatt. “We must not further embarrass ourselves as the only large member state without a coordinated position,” government sources told the paper. Points of contention include the number of free CO₂ certificates allocated to companies that compete internationally and which companies should receive them. (Clean Energy Wire)
Russia’s not in a rush – Russia does not plan to ratify the Paris Agreement on climate before 2020, Minister of Natural Resources Sergei Donskoy told reporters on Friday, despite the pact entering into force this week. “Risk assessments were performed and the conclusion was made that we have time. Plans that Russia will ratify the agreement not earlier than 2020 remain in force for the time being,” the minister said, according to Manila Bulletin.
And finally… Comic superheroes battle warming – From Doctor Fate to the Green Lantern, superheroes are tackling the carbon crisis. But climate change is a peculiar challenge for a caped crusader, one unlike nuclear war, fascism or urban decay. How do you portray a problem so enormous, slow-moving and diffuse? Nexus Media explores the difficulties, including selecting a villain in oil firm Roxxon, a not-so-subtle allusion to Exxon.
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