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Singapore will implement a tax of S$10-20 ($7-14) per tonne of CO2 from 2019, with revenue used to fund further emission cuts, Finance Minister Heng Swee Keat said Monday.
China has eased its target for reducing overcapacity in its coal industry in order to control runaway prices, potentially paving the way for carbon emissions to rise again after several years of modest-to-no growth.
The CDM’s executive board has elected its new leaders to head the board this year, the UN’s climate change secretariat announced by email on Monday.
EU carbon prices climbed back above €5 on Monday on a strong auction and bullish energy complex, defying bearish expectations based on a supply glut from auctions and government free allocations.
Germany’s environment agency (UBA) wants to buy just over 200,000 CERs to offset the emissions from business travel by federal government employees.
**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**
** Navigating the American Carbon World (NACW) 2017: San Francisco, Apr. 19-21 – NACW brings together the most active and influential players in North American climate policy and carbon markets to address the most pressing topics in domestic and international policy, subnational leadership, carbon markets, climate finance, and carbon management initiatives. Visit the website**
Job listings this week:
Senior Policy Advisor/Head of Brussels Office, Ian Duncan MEP – Brussels (2 roles)
Post-Doctoral Research Fellow, Energy and Climate Change Modelling, ESRI – Dublin
General Manager, Natural Carbon – Brisbane
Intern, Climate Policy Coordinator, WBCSD – Geneva
Or click here to see all our job adverts
BITE-SIZED UPDATES FROM AROUND THE WORLD
Stuck on coal – The Australian government refuses to give up on building new coal-fired power plants, and Energy and Environment Minister Josh Frydenberg said Sunday the government might change the rules for the Clean Energy Finance Corporation to allow it to invest in either carbon capture and storage or ultra super critical coal plants. The A$10 billion ($7.7 billion) CEFC is a lending vehicle which funds energy projects that can cut emissions by at least 50%, but it is currently prohibited from investing in CCS. (ABC)
People power – Thailand’s military government has put on hold plans for the 800MW Krabi coal-fired power plant in a region known for its pristine tourist beaches after protests by residents and activists while it carries out a further impact assessment. This marked a rare decision by the junta to bow to protesters, who have largely been silenced since a 2014 coup. (Reuters)
And finally… Price of a pint – While the European Commission remains committed to no carbon price floors or ceilings, such intervention is gaining traction outside Europe, Bloomberg writes, flagging up recent carbon tax efforts in Canada and the US and lining up several business proponents of carbon price support in the EU. This includes a Germany’s EWI, which in a January report that found a €30 price floor would cost each European citizen €5 a year though 2025 assuming effective re-distribution of revenue to compensate those affected.
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