CP Daily: Monday February 27, 2017

Published 00:21 on February 28, 2017  /  Last updated at 00:25 on February 28, 2017  / Carbon Pulse /  Newsletters

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

Presenting CP Daily, Carbon Pulse’s free newsletter. It’s a daily summary of our news plus bite-sized updates from around the world. Subscribe here

POLL: Analysts jack up EUA price estimates following European Parliament vote

Analysts surveyed by Carbon Pulse have raised their estimates for EUA carbon prices in the final few years of Phase 3 (2013-2020) by as much as 18% following this month’s European Parliament’s vote on post-2020 EU ETS reforms.

EU nations push ETS reform ideas ahead of crunch meet

Several EU member states have outlined particular lines on post-2020 ETS reforms a day ahead of a crunch meeting where the bloc’s environment ministers will aim to reach a united stance to begin final negotiations with other EU institutions.

Australia sees record low project registration as market turns back on ERF

A record low number of new carbon-cutting projects have registered ahead of Australia’s next Emissions Reduction Fund (ERF) auction, causing observers to question whether the mechanism could be revived even if the government were to top up funding.

China plans green investment banks to drive clean funding

China will set up one or two national green development funds and a number of provincial ones to help attract private investments into projects that cut pollution and reduce greenhouse gas emissions, the People’s Bank of China’s chief economist said Monday.

CDM board delves deeper into voluntary market to save its struggling scheme

The CDM’s executive board has decided to reach out to companies involved in voluntary offsetting and wider corporate responsibility efforts in an attempt to shore up more appetite for CERs, which continue to languish below €0.30 amid scarce demand.

EEX, Belektron team up to offer EU carbon auction access to smaller emitters

More smaller and medium-sized installations and aircraft operators will be able to access to the EU’s regular carbon allowance auctions under a partnership announced Monday by German energy exchange EEX and Slovenia-based trading house Belektron.

ClimateCare partners with Gold Standard as voluntary market broadens across development goals

Non-profit certifier Gold Standard has partnered with UK-based project developer ClimateCare to help it promote to companies a new standard for projects that will apply across all types of climate and development goals.

EU Market: EUAs defy bullish predictions to sink below support levels

EU carbon prices gave back much of the previous week’s gains on Monday in defiance of bullish analyst projections, falling below several technical supports.


**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**

**2017 Climate Leadership Conference: Chicago, Mar. 1-3 – Business, city, and organization leaders engaged in sustainability and climate action will share what they are doing to reduce emissions, deploy clean energy, and prepare for climate impacts. Come hear UNFCCC Executive Secretary Patricia Espinosa as well as executives from AECOM, Apple, Bank of America, Edison Energy, Exelon, Ford, GE, GM, IBM, Intel, Lockheed Martin, Microsoft, NRG, Pacific Gas & Electric, United Airlines. 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:

Strategy Consultant, Climate Business Department, International Finance Corporation, World Bank Group – Washington DC
Energy Adviser, Parliamentary Office of Science and Technology, UK Houses of Parliament – London
CFO, Coop Carbone – Montreal/Quebec
Junior Energy Policy Analyst, Environment and Climate Change, IEA – Paris
Director, US-India Clean Energy Finance Initiative, Climate Policy Initiative India – Delhi
Senior Policy Adviser – Mexico, E3G – Washington DC
Expert, Investments and Climate Change, South Pole Group – London/Stockholm
Marketing and Events Assistant, South Pole Group – London/Zurich
Expert, Sustainable Supply Chain, South Pole Group – London/Stockholm
Junior Portfolio Manager, South Pole Group – London/Stockholm
Portfolio Manager, South Pole Group – London/Stockholm
Consultant, Corporate Sustainability, South Pole Group – Stockholm

Or click here to see all our job adverts



It’s a trend – Australia’s government has been pushing for fresh investments in “clean coal” recently while criticising states for setting too ambitious targets on renewable energy. Last week, Energy and Environment Minister Josh Frydenberg said clean coal should become eligible for funding under the Clean Energy Finance Corporation, and CEFC chief Oliver Yates on Monday confirmed that the green bank now has received an email requesting a A$1.2 billion ($922 million) loan to fund a 900MW coal plant that would be fitted for CCS. It’s not clear who is behind the application, reported Fairfax media.

Not that much after all – Britain has cut its GHG emissions by just 6% in two decades, a government report found after accounting for the carbon footprint of imported goods. (The Times, $)

Unintended consequence – An ambitious target to replace all combustion engine cars in Germany with electric vehicles by 2030 might increase CO2 emissions instead of lowering them, writes Denes Csala, lecturer at Lancaster University, in an article for The Conversation. “Unless things change, Germany is unlikely to have enough green energy in time,” writes Csala. “The basic problem is that an electric car running on power generated by dirty coal or gas actually creates more emissions than a car that burns petrol.” (Clean Energy Wire)

Paper trail – The European paper industry today launched a reviewed version of its 2050 Roadmap, detailing the pathways and investment needed to cut its carbon emissions by 80% while creating 50% more added-value. The Roadmap, which was first proposed by the Confederation of European Paper Industries (CEPI) in 2011, projects the need for €44 billion more investment – a 40% increase on current levels – to transform industry in Europe and lead the low-carbon bioeconomy by 2050.  From energy efficiency to deployment of breakthrough technologies, emissions reduction pathways were estimated to require a combined additional investment of €24 billion by 2050. A further €20 billion of investment would be required to boost the production of new low carbon bio-based products.

Forest faltering – The New York Times examines the difficulty firms are having in meeting the 2015 New York Declaration on Forests amid a jump in deforestation rates in the Amazon amid soaring demand for soybeans. Signee Cargill appears to be nearing its pledge to end deforestation resulting from sourcing palm oil by 2020 but the trading house and environmentalists disagree on whether that deadline or 2030 applies to other agricultural commodities. Fellow trader Bunge is also profiled to be active in the region and it hasn’t even signed the declaration.

And finally… ‘Ain’t what it used to be’ – The future ain’t what it used to be at US Environment Protection Agency, according to new EPA chief Scott Pruitt. Speaking at CPAC on Saturday, he promised to roll back Obama regulations “in an aggressive way”, singling out the Clean Power Plan and regulations on methane emissions on federal lands as among those first in line for the chop, Bloomberg reports. President Donald Trump will substantially slash funding to the EPA to help increase military spending in his first budget plan, Axios reported. Cabinet and agency officials will be asked to prepare budget requests ahead of the administration budget’s release on March 13. Sources report “massive, transformational cuts” to EPA climate change programs.

Got a tip? Email us at news@carbon-pulse.com