CP Daily: Monday November 28, 2016

Published 18:51 on November 28, 2016  /  Last updated at 18:51 on November 28, 2016  /  Newsletter  /  No Comments

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

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EC to propose capacity mechanism CO2 limit -Reuters

The European Commission plans to set an emissions limit for power stations seeking to tap capacity mechanisms, Reuters reported on Monday, but the move drew fire from experts because it appeared to only apply to new plants.

EU Market: EUAs plunge 5% to two-month low as bearish factors mount

EU carbon prices plunged well below €5 on Monday to their lowest level since Sep. 28 as fears grew about weakened utility demand in the face of next year’s 29% hike in auction volume.

ETS, tariff cuts could halve profitability of China’s coal fleet -report

The introduction of a national emissions trading scheme and expected reductions in coal tariffs could halve the Chinese coal sector’s profitability by 2020, according to a report.

UK sets 2017 EUA price for non-compliance penalties

The UK government has set the 2017 EUA price to be used to calculate penalties for non-compliance with the EU ETS.

ECOSYSTEM MARKETPLACE – Now on Bionic Planet: Voices from Marrakech

Two weeks after the US presidential election, the US role in the Paris Climate Agreement remains foggy. While few expect the US to continue its leadership role in the fight to slow climate change, many believe a Trump administration will treat the Agreement with benign neglect rather than kick up a storm trying to withdraw from the deal. Here is an audio mosaic distilled from interviews we conducted during the talks.

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Job listings this week:

Director, Partnerships & Business Development, The Gold Standard – Europe
Director, Climate Change Agenda, IDDRI – Paris
Policy Manager, IIGCC – London
Corporate Trader (German Speaking), Carbon Markets, Vertis – Europe
Sales Representative, Energy Efficiency Products, Vertis – Budapest
Project Manager, Climate Neutral, First Climate Markets – Bad Vilbel, Germany
Program Officer, VCS – Washington DC
Grants Manager, VCS – Washington DC
Sales Consultant, Nexus for Development – Remote position, Europe-based
Senior Program Officer, GGGI – Vientiane, Laos
Director, Climate Analytics Lomé, Climate Analytics – Lomé, Togo
Senior Research Associate, Climate Change Strategies, Climate Analytics – Samoa
Energy Analysts, Canadian Coalition for Green Health Care – Work from home

Or click here to see all our job adverts

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BITE-SIZED UPDATES FROM AROUND THE WORLD

Korean emissions downSouth Korea’s greenhouse gas emissions fell 0.8% in 2014 to 690 million tonnes of CO2e, the government reported over the weekend. Increased nuclear power generation was the main reason for the first drop in emissions in six years. (Yonhap)

Fillon for France – Former prime minister Francois Fillon positioned himself as favourite to succeed Francois Hollande next May by winning Sunday’s centre-right presidential primary. Like Hollande, Fillon favours EU ETS reforms to push prices above €30, a far more ambitious line than his likely rival, the far-right’s Marine Le Pen.

Aussies out – In Australia, a Senate report has recommended that there should be a complete move away from coal-generated electricity, citing economic factors as the primary drivers, according to The Guardian reports. The report has the backing of both Labor and Green members of the committee. It calls for a comprehensive energy transition plan and the development of a mechanism to allow coal power stations to close in an orderly fashion. (H/T Carbon Brief)

Swiss nuke vote – Swiss citizens voted nearly 55% against an accelerated withdrawal from nuclear energy production on Sunday, as supply security concerns trumped safety fears and prevented a move that would have raised reliance on fossil fuels from Germany or imported nuclear power from France. (Reuters)

EEX options – The German energy bourse has registered its first trade in EUA options. The trade between Czech utility CEZ and an unnamed counterparty was registered on the Dec-16 contract with a volume of 250 lots, and brokered by Evolution Markets.  EEX launched its EUA options contracts in October.

China survey – The UNDP, South Pole and the Environomist have launched their annual online China Carbon Market Survey. Interested parties are welcome to participate in the survey, which can be found here (in Chinese).

Shareholder pressure – US companies are due to face around 200 resolutions on climate change at their annual meetings next year, up from 174 this year, 167 in 2015 and 148 in 2014, even as President-elect Donald Trump looks set to loosen environmental regulations, according to a sustainability advocacy group Ceres. (Reuters)

And finally… Billion-dollar mangrovesScientists say mangroves, like this one in Hell’s Bay in Florida’s Everglades National Park, can help combat climate change by storing carbon. They put the value of that storage in the park alone at between $2 billion to $3.4 billion.  The Miami Herald reports.

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