CP Daily: Friday January 27, 2017

Published 19:35 on January 27, 2017  /  Last updated at 09:55 on February 14, 2017  /  Newsletter  /  No Comments

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

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How would a CO2 market affect Oregon? Eight days of lost economic growth

A state-wide cap-and-trade scheme would have minimal impacts on Oregon’s economy and could at most cost it just eight days worth of GDP growth per year, an economic consultancy found.

EU Market: EUAs wilt below €5 in late collapse to post 9.4% weekly loss

EU carbon prices were little changed for much of Friday in becalmed thin trade but eventually collapsed below €5 in late trade, posting a 9.4% weekly loss after losing ground across four of the five sessions.

UK govt slaps £743k in EU ETS fines on plants, aircraft operators

The UK government has levied penalties totalling more than £743,000 on 34 aircraft operators and three installations for non-compliance with the EU ETS.

Briton sentenced to more than 3 years in jail for EU ETS tax evasion

A British man that had been sought by authorities for several years has been sentenced by a German court to three years and three months in jail for tax evasion linked to the EU carbon market, according to sources.

COMMENT: What role will carbon offsets play for Ontario industries?

What role will Carbon Offsets play for Ontario Industries? This is one of the key questions for those heading cap and trade compliance for Ontario companies.

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BITE-SIZED UPDATES FROM AROUND THE WORLD

The great wall of CO2 – As Donald Trump issued an executive order to build a wall along the Mexican border, several publications looked at the environmental impact of such a project. Bloomberg points out that a concrete wall around 1,000 miles long could produce 1.2 million to 19 million tonnes of CO2.

Up and atom – British plans to leave the European Atomic Energy Community (Euratom) when it exits the EU could delay new nuclear power projects including the $24 billion Hinkley Point C project, Reuters reports.  Britain published the legislation it will use to seek parliamentary approval for triggering the process for leaving the EU, which includes withdrawal from Euratom, an accompanying document to the bill said.

Back on, thanks to Al – Former VP Al Gore and public health experts will hold a climate change and health meeting in mid-February as a replacement for a similar conference recently cancelled by the Centers for Disease Control, InsideClimate News reports.  The CDC event was scrapped after President Trump’s election in an apparent act of self-censorship.

Promising upstarts – Start-ups still have until Jan. 31 to submit entries for the international ‘Start Up Energy Transition Award’, presented by the Deutsche Energie-Agentur (dena) – the German Energy Agency. The competition is open to any ideas that promote energy transition and worldwide climate protection. The start-ups with the most innovative business models will have an opportunity to present their projects and solutions to international investors, decision-makers and climate protection specialists during the Berlin Energy Transition Dialogue in March, and to network with them. Applications can be made here. (dena)

On RWE’s case – Peruvian farmer Saul Luciano Lliuya will appeal his case against German utility RWE to the Higher Regional Court in Hamm, Germany, after the District Court in Essen ruled against him. He wants the firm to pay €17,000 to protect his village from a meltwater lake. The case is being closely watched worldwide as it could open the door to a wave of similar “polluter pays” climate challenges. (Germanwatch, H/T Politico)

Clued up on CORSIA – UK-based consultancy Ricardo AEA and financial services association CMIA will host a Mar. 7 webinar on what the CORSIA global aviation offsetting scheme means for industry and other stakeholders.

And finally… The clock is ticking – The Doomsday Clock, a symbolic instrument set by the Bulletin of the Atomic Scientists, ticked forward another 30 seconds.  The minute hand now points at 2.5 minutes to midnight, or disaster, and the closest it has been since H-bomb testing in 1953. Climate change, Vladimir Putin and Donald Trump were the main reasons for the shift. (Bloomberg)

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