CP Daily: Tuesday November 29, 2016

Published 00:01 on November 30, 2016  /  Last updated at 09:49 on November 30, 2016  /  Newsletter  /  No Comments

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

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EU ETS revision bill risks delay as early deal eludes lawmakers

Lawmakers in the European Parliament’s environment committee (ENVI) failed to clinch an early deal on the post-2020 EU ETS reform bill as talks broke late Tuesday, increasing the chances that a planned December vote will be postponed even as support builds for a strengthened MSR.

EU Market: EUAs slump to new 2-month low on auction, supply worries

European carbon prices continued their steep descent on Tuesday, falling for the seventh day in eight on supply concerns and a weak auction result.

CN Markets: Investors push up Chinese pilot prices, expecting utility demand hike later

Several of China’s pilot carbon markets are seeing sharp price rises on small volumes as institutional investors buy ahead of an expected hike in utility demand next year, according to traders.

China urges wind industry to grasp market mechanisms in 5-year plan

China will spend 700 billion yuan ($101 billion) on new wind power capacity over the next five years to make sure it reaches a target that could cut 380 million tonnes of CO2 over the period, the government said Tuesday.

NZ emissions intensity down, but not enough -report

New Zealand household carbon emissions have gone down in recent years but not by enough to help put the world on track to limit global warming, according to a new study suggesting the government should bring the country’s biggest-emitting sector into the NZ emissions trading scheme.

Saskatchewan inks deal to extend lives of coal plants

Saskatchewan has agreed a deal with the Canadian government to allow the province to keep one or more of its coal-fired power plants open past a 2030 deadline, though the two parties remain at loggerheads over carbon pricing.

Vanuatu sells Pacific’s first REDD credits

A forestry project on the tiny island nation of Vanuatu has sold the Pacific region’s first voluntary REDD credits to a buyer in Sweden.

BITE-SIZED UPDATES FROM AROUND THE WORLD

No more help – In preparation for the federal parliamentary elections 2017, Angela Merkel’s CDU party is considering calling for an end to Germany’s core renewable energy support, writes Spiegel Online. The party would “work on a concept on how to exit Renewable Energy Act (EEG) support by the end of the coming legislative period,” according to a discussion paper by the CDU’s expert committee on finance, economy and energy. “Support must be finite,” the party’s energy expert Joachim Pfeiffer told Spiegel. CDU sources said it was far from decided whether the party would make phasing out renewables support an election campaign policy. (H/T Clean Energy Wire)

It’s a SUPERmajority – California Democrats have again captured a two-thirds majority in both houses of the US state’s legislature, according to projections for the Senate that follow the control they secured in the Assembly last month. A Democrat-controlled legislature may smooth the path to securing a post-2020 cap-and-trade programme, though the Democrat super-majority four years earlier failed to make major policy strides as the party fractured. (Sacramento Bee)

Revised plan – California has released a revised plan for how it intends to meet its targets of cutting short-lived climate pollutants. The new strategy is a draft and is currently out for public comments.

And finally… Choose your poison – President-elect Donald Trump is scheduled to meet today with two possible contenders for US EPA administrator: Oklahoma Attorney General Scott Pruitt, who’s helping to lead the legal fight against the Obama administration’s signature climate rule, and former Texas environmental regulator Kathleen Hartnett White, who has called for restraining “the imperial EPA”.  According to Greenwire, both scheduled to meet with Trump and Vice President-elect Mike Pence in New York as they continue to announce picks for administration jobs.

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