CP Daily: Wednesday January 4, 2017

Published 23:10 on January 4, 2017  /  Last updated at 23:10 on January 4, 2017  /  Newsletter  /  No Comments

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

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Guangdong’s 2nd 2016 auction oversubscribed, settles above price floor

Guangdong’s second quarterly carbon auction of the 2016 trading year settled at 15 yuan ($2.16) on Wednesday, with the 500,000 allowances on offer nearly four times oversubscribed as investors scrambled for fresh supply.

France becomes fifth nation to submit 2050 emissions plan to UN

France has become the fifth nation after Germany, US, Canada and Mexico to submit a 2050 emissions pathway plans to the UN, completing work it had published separately late last year.

EU Market: EUAs claw back losses despite bearish energy complex

EU carbon prices clawed back some of the previous session’s heavy losses on Wednesday, though remained well below €6 and 13% down since the end of 2016 as bigger auctions loom.

Orb Energy becomes first Indian solar developer to get Gold Standard VERs

India’s Orb Energy was issued with 61,000 VERs on Wednesday, becoming the first solar lighting and water heating programme in the country to receive carbon credits audited by the Swiss-based certifier.

COMMENT: The Climate Trust rings in the new year with a forecast of the top 10 carbon market trends

The Climate Trust, a mission-driven nonprofit that specializes in mobilizing conservation finance for climate benefit, announced its fourth annual prediction list of 10 carbon market trends to watch in 2017.

ECOSYSTEM MARKETPLACE: A topsy-turvy 2016 sets tone for turbulent 2017 in forest carbon

Ecosystem Marketplace’s Steve Zwick summarises the past year in forest carbon and sets the scene for what is expected to be a choppy 2017 for the market.

BITE-SIZED UPDATES FROM AROUND THE WORLD

** The Carbon Pricing Leadership Coalition hosts a high-level dialogue in Zurich on Jan. 16 with public and private sector leaders including the European Commission’s Jos Delbeke and Eric Olsen, CEO of cement major LafargeHolcim, discussing how to expand, deepen and converge carbon pricing over the next 15 years. The full day event includes a keynote address from economist Nicholas Stern on the carbon pricing corridors commission he is co-chairing. **

Not green with ENVI – The post-2020 EU ETS revisions agreed by the EU Parliament’s environment committee (ENVI) still mean Germany’s most efficient industrial plants will have cost increases imposed, according to Hans Juergen Kerkhoff, president of the German Steel Federation (WV Stahl). Michael Fuchs, parliamentary vice-chairman of Germany’s centre-right CDU political party agreed and said the plan will mean industry increasingly shifts production to other areas of the world without any climate benefit. This vocal opposition is a sign that the ENVI bill may not pass smoothly through the full EU Parliamant in vote due in mid-Feburary. (Handelsblatt, H/T Clean Energy Wire)

Justly done – Carbon Brief looks at the history and background to the “just transition” movement to a clean economy, and highlights examples of where such a change is underway from around the world.

US clean switch – Every indication is that US renewables will continue growing throughout the Trump presidency, as a number of proactive states are already devising innovative policies needed to enable the US power sector to decarbonise at rates envisioned under the Paris Agreement should nothing occur at the federal level. Yet, climate and energy researchers say the current economic trends are still not enough to avert the most serious consequences of climate change. (Utility Dive)

And finally… Such language, Bradley – Saskatchewan Premier Brad Wall has apologised after retweeting a Twitter post that referred to Canadian Prime Minister Justin Trudeau as a “shithead”.  It happened Tuesday as Wall was on social media criticising Trudeau’s carbon pricing plan, CBC reports.

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