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European carbon prices suffered their largest fall in more than six months, plummeting 11.4% on Tuesday as speculators dumped allowances ahead of the resumption of daily auctions and amid a wider energy market sell-off.
China’s Hubei province will soon issue around 20 million CO2 allowances that it says can be banked into the national ETS, aiming to give some certainty to emitters as the country’s pilot carbon markets transition towards a nationwide scheme later this year.
Israeli Prime Minister Benjamin Netanyahu was questioned by investigators on Monday over allegations he received illicit gifts from businessmen, seven months after a convicted French carbon fraudster claimed he gave Netanyahu more than €1 million.
California regulators ARB awarded just over 399,000 carbon offsets to seven projects in the final issuance of 2016, data released Wednesday showed, while more than 500,000 credits had their invalidation periods slashed.
Closing prices, ranges and volumes for China’s regional pilot carbon markets this week. All prices are in RMB, and volumes in tonnes of CO2e. Data sourced from local exchanges.
Job listings this week:
Director of Development, Global Climate and Policy in US, The Nature Conservancy – Location Negotiable
Forestry Program Officer/Senior Program Associate, American Carbon Registry – US
Policy Lead – Climate Change, Sustainability Victoria/Victoria State Government – Melbourne
Editor, Climate Home – London
General Manager, Natural Carbon – Brisbane & Gold Coast
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BITE-SIZED UPDATES FROM AROUND THE WORLD
US states counter – Lawyers from 14 Democratic US states have sent a letter to incoming President Trump urging him to preserve the Clean Power Plan, rebutting a letter sent last month from Republican counterparts pushing for the CPP to be scrapped and hint at future legal action if Trump kills the policy. (The Hill)
Bond begins – France has mandated banks to manage an inaugural green bond, promising a “significantly larger” deal than a €750-million, 5-year issue last month by Poland, which was the first sovereign issuer to enter the $81-billion market previously only tapped by government, agencies, corporate and banks. (Reuters)
Fun in the sun – Solar power is now cheaper than coal in some parts of the world and is likely to be the lowest-cost option almost everywhere by 2025, reports Bloomberg, charting the rock-bottom solar auctions of 2016 at half the average global cost of coal power. Since 2009, solar prices are down 62%, with every part of the supply chain trimming costs.
Stealin’ from the (gas-)rich (ground) – Plans are being made for fracking to take place under Britain’s Sherwood Forest, where an ancient oak stands under which legend says Robin Hood and his merry men rested. According to the Telegraph, Ineos, one of the world’s biggest chemicals company, is poised to start looking for gas under Sherwood Forest, Nottinghamshire, in a move which could lead to it seeking permission to frack the area. The area could become a flashpoint with campaigners from Frack Free Nottinghamshire saying they will copy Robin Hood’s example and “defend Sherwood Forest”.
And finally… Baked in India – The BBC looks into the latest in CCU (carbon capture and utilisation) technology at a chemical plant in the Indian port city of Tuticorin projected to save 60,000 tonnes of CO2 emissions a year by incorporating them into the chemical recipe for baking powder.
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