CP Daily: Friday March 17, 2017

Published 18:28 on March 17, 2017  /  Last updated at 18:31 on March 17, 2017  /  Newsletter  /  No Comments

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

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In blow to developers, China confirms freeze to carbon offset pipeline

China has halted the processing of its offset pipeline, regulators said this week, confirming what many developers had suspected while addressing the uncertainty that has both plagued the market over the past few months and created a bottleneck of hundreds of carbon-cutting projects.

Global CO2 output flat for third straight year but too soon to call peak -IEA

Global energy-related CO2 emissions were flat for a third straight year in 2016 even as the global economy grew, the IEA said Friday, signalling a continuing decoupling of emissions and GDP.

Finland helps bump up free 2017 EUA issuances but Italy, Spain still delayed

EU member states have issued a further 18.8 million free EUAs over the past fortnight, with Finland completing the bulk of its 2017 allocations while Spain, Italy and Ireland continue to lag.

EU Market: EUAs stay pinned above €5 as calm market shrugs off added Polish auctions

EU carbon prices barely budged on Friday to cap a week of quiet, rangebound trade, with EUAs holding their ground despite the looming addition of hefty supply from the resumption of Polish auctions.

Enel reports mixed hedging as thermal output drops 15%

Italian utility Enel reported a mixed hedging picture in Europe in 2016 as its ETS-regulated thermal production fell 15%, lowering its overall demand for carbon units last year.

ECOSYSTEM MARKETPLACE: How Trump’s budget hits the environment, agency-by-agency

Ecosystem Marketplace provides a breakdown of the environmental impacts by department of President Trump’s draft 2018 budget, ranked by depth of cut on a percentage basis.

CN Markets: Pilot market data for week ending Mar 17, 2017

Below is a table of the closing prices, ranges and volumes for China’s regional pilot carbon markets this week. All prices are in RMB, and volumes in tonnes of CO2e. Data sourced from local exchanges.

Voluntary market data from CTX for Mar. 17, 2017

A table of Verified Emission Reduction (VER) prices and offered volumes, based on voluntary market data provided by Carbon Trade Exchange (CTX).

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**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**

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BITE-SIZED UPDATES FROM AROUND THE WORLD

Barcelona baby! – The Innovate4Climate event, emerging out of the 11-year-old Carbon Expo with a stronger focus on climate finance, has published an update pledging over 60 speakers, 1,000 attendees and more than 30 side events. It will be held over 22-25 May in Barcelona with the main two-day summit divided into a finance day on Wed. 24 and a markets day on Thurs 25.

I thought he said he “digs coal” – President Trump has proposed eliminating funding for economic development programs supporting laid-off coal miners and others in Appalachia, Reuters reports, stirring fears in a region that supported him of another letdown on the heels of the coal industry’s collapse.  The 2018 budget proposal submitted to Congress by the White House on Thursday would cut funds to the Appalachian Regional Commission and the US Economic Development Administration. The Washington-based organizations are charged with diversifying the economies of states like West Virginia and Kentucky to help them recover from coal’s decline.

And finally… Mine rehab – A coal-mine that powered German industry for almost half a century will get a new lease on life when it’s turned into a 200 MW pumped-storage hydroelectric reservoir to act like a giant battery that stores excess solar and wind energy. Developers say it will have enough capacity to power more than 400,000 homes and provide workers in the former mining town of Bottrop a role in providing uninterrupted power for the country. (Bloomberg)

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