CP Daily: Wednesday November 9, 2016

Published 22:57 on November 9, 2016  /  Last updated at 23:30 on November 9, 2016  /  Newsletter  /  No Comments

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

Presenting CP Daily, Carbon Pulse’s free newsletter. It’s a daily summary of our news plus bite-sized updates from around the world. Subscribe here

Trump win casts UN climate talks into existential crisis

Donald Trump’s victory in the US election cast a long shadow over UN climate talks in Marrakech on Wednesday, with delegates and observers questioning the future of the Paris Agreement and international efforts to cut greenhouse gas emissions.

Putting on a brave face, business groups say Trump era a ‘blank page’ for US carbon pricing

Newly-dominant US Republican lawmakers could eventually rekindle their affiliation to market-based carbon pricing policies after winning their divisive battle for power, business leaders said on Wednesday.

Reaction to Trump’s US election victory

Donald Trump’s US presidential election victory will likely mean major setbacks in the effort to combat climate change, with the billionaire businessman calling the science a “hoax” and vowing to pull the US out of the Paris Agreement and to repeal many of Obama’s environmental measures including the Clean Power Plan. Herein is collection of reactions from individuals, companies and organisations involved in the climate movement.

Top German lawmaker vetoes domestic climate plan -reports

A senior German lawmaker has unexpectedly blocked a proposed domestic climate strategy, media reported on Wednesday, a plan that would have pushed for an EU carbon floor price.

Voters reject Washington state carbon tax

Voters in Washington state on Tuesday voted by nearly 60% against a proposed tax on carbon emissions from fossil fuel use, which if approved would have been the country’s first carbon tax.

Large awards to new projects lift California offset issuances above 50 million

A spate of sizeable awards to newly-registered projects has pushed the total number of carbon offsets issued by California’s ARB above the 50 million mark, data released Wednesday showed.

CDM board eyes batch of recent climate deals in hunt for new demand sources

The CDM Executive Board at its latest meeting continued to hunt for potential sources of future demand, eyeing the recent aviation, shipping and HFC deals as well as a potential increase in voluntary cancellations of CDM offsets.

EU Market: EUAs recover after dropping 5% on Trump win

European carbon prices recovered from large losses posted early in the day on the back of news that Donald Trump had won the US presidency.

UK seeks more views on how to phase out coal power by 2025

The UK government on Wednesday launched a second consultation seeking views on how to meet its pledge to close all its unabated coal-fired power plants by 2025.

Ontario proposes adjustments to cap-and-trade scheme

Ontario has released draft amendments to its cap-and-trade programme that would limit market participation to Canada-registered companies and increase transparency on business relationships.

COMMENT – President Trump: Setback or turning point for climate change?

The election of Trump is bad news for anyone who cares about climate change. How bad it really is will depend on whether this is a hiccup or more permanent change in US policy.

BITE-SIZED UPDATES FROM AROUND THE WORLD

IETA & IATA – IETA and the International Air Transport Association (IATA) have entered into a MoU to cooperate on a series of regional workshops to help airlines comply with ICAO’s new international offset scheme, dubbed CORSIA.  A series of five workshops will be held around the world in Feb. and Mar. 2017, at which experts and industry participants will discuss preparations for the world’s first sectoral carbon market mechanism.

ICAO & REDD+ – IETA and the CMIA today released a joint statement supporting the inclusion of offsets from REDD+ projects in ICAO’s CORSIA.  The pair of trade associations said “[we’re] pleased that [CORSIA] seems likely to make REDD+ projects eligible for airlines to use in meeting their obligations under the mechanism. However, [we’re] concerned that there is no clarity yet on the scale or manner in which REDD+ credits may be used.” At present only a very few countries have implemented REDD+ to generate credits on a national scale, they added.

Seeking a place in the sun – Taiwan, excluded from UN talks due to its complicated relationship with China, is eager to play a meaningful part on global climate action, and on Wednesday submitted for public consultation a climate change plan that included several similarities to the Paris Agreement such as a periodical ratcheting-up of the overall GHG target. The consultation also referred to setting up a carbon pricing mechanism – the first time officials have referred to a domestic ETS since parliament last year adopted a climate law with provisions to set up a carbon market.

Closing coal down under – Coal-fired power stations in Australia will need to shut at the rate of about one a year between now and the mid-2030s for the country to meet the commitments made in Paris, a Senate hearing has been told. (Guardian)

And finally… Mark your calendars – January 20, 2018 is the earliest date that Donald Trump could take the US out of the Paris Agreement.  You thought that the treaty was crafted in a clever way that forces the next US president to wait four years, thus preventing him (or her) from immediately exiting it?  According to Climate Home, you might want to think again.

Got a tip? Email us at news@carbon-pulse.com

Comment