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Lawmakers in the European Parliament’s environment committee (ENVI) are striving to clinch an early deal on the post-2020 EU ETS reform bill that could see them agree to push to cancel a billion EUAs and hand a fatter slice of free permits to industry.
Specialised carbon firms are expected to play a limited role in China’s cap-and-trade scheme in the early years, and several are now eyeing the country’s liberalising power market to offer a portfolio of energy and carbon services to big industrials.
The UK will keep its domestic carbon price floor capped until 2020, Chancellor Philip Hammond announced on Wednesday, in a budget statement that revealed little about what the government plans to do into the next decade.
US-based non-profit The Climate Trust is ready to start disbursing cash to land-based offset projects after securing $5.5 million from the David and Lucille Packard Foundation, in the first step of what the company hopes can grow into a $500 million global carbon investment vehicle.
Nova Scotia may set itself a new 2030 emissions reduction target but it doesn’t intend to auction any carbon allowances, a government spokeswoman told Carbon Pulse, shedding more light on the Canadian province’s recently announced cap-and-trade scheme.
EU carbon prices dipped on Wednesday as coal and gas prices reversed gains posted earlier this week.
Eight members of a gang that defrauded 90 investors out of £2.3 million by selling them nearly worthless carbon credits have been jailed for a combined 39 years, according to UK authorities.
BITE-SIZED UPDATES FROM AROUND THE WORLD
US on Paris track without Trump – The US will meet its climate commitments under the Paris Agreement even if the administration of President-elect Donald Trump backs away from the deal, according to former New York Mayor Michael Bloomberg. He is now UN Special Envoy for Cities and Climate Change and gave a speech saying US cities and businesses will keep reducing emissions because it’s in their self-interest. (Bloomberg – yes, its Mike’s too)
Shine on Ruby – Denmark’s Kristian Ruby has been appointed as the secretary general of EU power industry association Eurelectric, replacing Hans ten Berge who is to retire after 10 years at the helm. Ruby was most recently a public affairs director at WindEurope and was the right-hand man to former EU Commission climate chief Connie Hedegaard.
A gust of offsetting – The Asian Development Bank cancelled 9,500 CERs from an Indian wind farm to offset the emissions resulting from their annual board meeting held in Frankfurt last May, according to the UNFCCC.
And finally… Off the charts warming – Unprecedented hot air temperatures 20C higher than normal in the Arctic are baffling climate scientists. The warm weather is stopping ice forming and could lead to record lows of sea ice at the North Pole next year. Danish and US researchers monitoring weather stations and satellites say that such temperatures are unheard of. (The Guardian)
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