CP Daily: Monday January 23, 2017

Published 22:32 on January 23, 2017  /  Last updated at 22:39 on January 23, 2017  /  Newsletters  /  No Comments

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

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California’s ARB backs post-2020 carbon market, adds cap-and-tax option

The California Air Resources Board on Friday released its updated draft Scoping Plan, backing the cap-and-trade programme to carry on beyond 2020 but also adding a cap-and-tax scheme to potential backup options.

Low-carbon growth a pillar of UK’s post-Brexit industry strategy

British Prime Minister Theresa May has identified clean growth and affordable energy as one of 10 pillars forming the foundation of a new industrial strategy the country will pursue post-Brexit.

Second French presidential candidate calls for carbon tariffs on US

France should impose a carbon tax on American goods should President Trump pull the US out of the Paris Agreement, a French presidential hopeful and Socialist party leadership finalist said Monday, echoing a similar call made late last year by former French President Nicolas Sarkozy.

EU Market: EUAs dip in wake of last week’s big gains

EU carbon prices dipped slightly on Monday on profit-taking and as analysts gave a cautious outlook about whether EUAs could continue to rise after breaking out of a bearish channel last week.

US offset developer ClimeCo looks north for expansion

Offset project developer ClimeCo Corporation has established a subsidiary in Canada and hired a VP of Canadian operations to expand its presence in the country and its emerging provincial emissions trading schemes.

China’s Chongqing allocates 100 mln permits to cover 2016 CO2 emissions

The Chongqing government has set the 2016 CO2 cap for its emissions trading scheme at 100 million tonnes, largely unchanged from the year before.

China to launch green certificate scheme on July 1

China will launch its green certificate scheme on July 1, a government document showed Monday, as Beijing continues to scale up its market-based approach to clean up its energy sector.

ECOSYSTEM MARKETPLACE: How US land owners can tap carbon markets in Trump era

On Inauguration Day, just as any trace of climate action was disappearing from the White House website, California announced it was deepening its emission targets and growing its cap-and-trade program through 2030.

**Argus Emissions Markets 2017: Prague, Feb. 28-Mar.2 – Join Ian Duncan, Rapporteur of the EU ETS and MEP, the European Commission, CEZ, Commerzbank, BP, SinoCarbon and other industry leaders, compliance buyers, global experts, regulators and market facilitators in a discussion on the development of emissions trading systems and climate finance. Visit the website**


Job listings this week:

Senior Conference Producer, Carbon Forward – London
Climate Change Program Director, The Nature Conservancy – Chicago
Senior Environmental Policy Consultant, Amec Foster Wheeler – London
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Internship, Carbon Market Watch – Brussels

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For those interested in emissions trading & working in developing/emerging economies in Asia, applications are now open for ICAP’s 2-week intensive ETS course in Bangkok (Apr. 25-May 4). More details here: http://bit.ly/ETSCourseBangkok

No coal for you – The Asian Infrastructure Investment Bank will avoid financing coal mines and power stations, reports the Times. The paper says: “A determination to be seen as environmentally friendly … has prompted the new Chinese rival to the World Bank to dash the coal industry’s hopes of a source of easy funding”. The bank may lend to coal schemes in some circumstances, the Times adds, for instance where an old, inefficient plant was being replaced by a newer station in a country with high demand for power. (H/T Carbon Brief)

ENVI changes – Italian MEP Giovanni LaVia has stepped down as chair of the European Parliament’s environment committee (ENVI) after two-and-a-half years due to a procedural convention due to his party colleague fellow Italian Antonio Tajani being elected president of the full parliament. LaVia was replaced by Romania’s Adina Valean, also of the centre-right EPP.

Make the effort – The cold weather across Europe took its toll on ENVI committee attendance today, and a planned debate on the post-2020 non-ETS effort sharing proposal was postponed until Tuesday afternoon.

The inadequacy complex – Adam Whitmore of campaigners Sandbag ponders why prices under emissions trading systems have been low to date. He points to two factors: that industry and governments expect more growth and higher costs than actually occurs, and the caution resulting from the political costs of unexpectedly low prices are usually being perceived as much less than those of unexpectedly high prices. This emphasises the value of price floors, implies that other policies are necessary and requires governments to learn over time, though, the EU, he concludes, is lacking in will to take leadership and wider climate efforts are consequently suffering. (The Energy Collective)

And finally… EU ETS by numbers – Lead EU ETS lawmaker Ian Duncan sums up and looks ahead to remaining post-2020 reform work in a blog post on EurActiv. He notes the 40+ hours in official session and countless more unofficially to distil the 729 amendments laid against his report into a document compromising 17 amendments, spanning 78 pages and over 20,000 words. Some 100 industrial sectors would no longer qualify for free allowances and therefore exit the ‘carbon leakage’ list if the bill is passed unchanged (though apart from cement, most of the big emitters are still getting handouts).

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