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