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China and New Zealand on Monday signed a joint climate action plan that includes cooperating closely on carbon markets, a move that could eventually lead to linking of Asia-Pacific emissions trading schemes.
Alberta’s decision to restrict the number of tradable carbon units that emitters can use to comply with incoming regulations has caught project developers “off guard” and threatens to damage the Canadian province’s 10-year old offset market.
Several business groups are convening meetings over whether the UK should withdraw from the EU ETS as part of the country’s wider EU exit, though the government itself is keeping its options open.
European carbon on Monday fell to its lowest so far this year on a mix of mounting supply pressures, speculative selling, and bleak fundamentals.
Guangdong’s third CO2 permit auction for the 2016 compliance year held Monday was oversubscribed by 50% and cleared above secondary market prices, according to an announcement from the China Emissions Exchange in Guangzhou.
Job listings this week:
Policy Analyst, NewClimate Institute – Cologne
Junior Portfolio Manager, South Pole Group – London/Stockholm
Portfolio Manager, South Pole Group – London/Stockholm
Risk Analyst with advanced GIS skills, Acclimatise – Cardiff/Oxford (UK) or Asheville, NC (USA)
Researcher, Climate Change Adaptation, SEI – Oxford, UK
Or click here to see all our job adverts
BITE-SIZED UPDATES FROM AROUND THE WORLD
Is this the week? – After several delays, President Trump looks set to sign an executive order aimed at rolling back energy and environmental regulations, including the Clean Power Plan, on Tuesday, officials have confirmed. EPA chief Scott Pruitt promoted the long-awaited order during his appearance on ABC’s “This Week” Sunday, as he promised that the order would “bring back manufacturing jobs across the country, coal jobs across the country” and reflect a “a pro-growth and pro-environment approach” from the White House. Pruitt also used his Sunday show slot to blast the Paris Agreement, calling it a “bad deal” and questioning why the US “penalised [itself] through lost jobs.” Separately, US coal mining boss Robert Murray told the Guardian that Trump should “temper” expectations about a boom in mining jobs because those jobs were unlikely to return – finally acknowledging what many experts have been saying since the presidential campaign. (Climate Nexus)
Trump snub – California’s clean air agency finalised the state’s strict emissions standards for vehicles on Friday, potentially foreshadowing a conflict with Washington following President Trump’s promise to the auto industry last week to roll back emissions rules nationally. The Air Resources Board voted unanimously to keep the standards, which are followed by 12 other states, for vehicles produced from 2022 to 2025. The rules also include requirements for automakers to sell more zero-emissions vehicles in California, the country’s biggest auto market. (Climate Nexus)
Trading for tax cuts – Key Australian Senator Nick Xenophon told reporters Monday he might change his stance on tax cuts for big companies and vote for reductions if the government in return can guarantee that it will set up a carbon intensity emissions trading scheme for the nation’s electricity sector. Xenophon, whose party holds three Senate seats, has been vocally opposed to such tax cuts, but considers the energy crisis more important and said an emissions intensity scheme is the best way to fix it. (Guardian)
More tax trading – Washington State’s Republican-controlled Senate on Friday passed a $43 billion two-year budget proposal that will fund a major increase in education spending through statewide property taxes and cuts to social services instead of the carbon tax floated by Governor Inslee late last year. Democrats, who control the state House of Representatives, are set to release and pass their own budget proposal this week, and then both chambers will then begin the work of negotiating a final compromise that must satisfy a state Supreme Court mandate on education funding. Meanwhile, Inslee and his Democratic counterpart from Oregon, Governor Kate Brown, struck a defiant pose on Saturday, vowing to fight proposals from President Trump that would weaken environmental protection.
And finally… Tillerson, the swamp creature? – In evidence of more in-fighting within the Trump camp, former EPA transition official Myron Ebell has called Secretary of State Rex Tillerson “part of the swamp” because he wants to keep the US in the Paris Agreement, The Hill reports. “Swamp creatures are still there,” Ebell told conservative Heartland Institute’s climate change conference, a major annual gathering of climate change doubters in Washington DC, adding “and I’m sorry to say that we’ve heard that the president’s daughter and son-in-law also support staying in Paris,” referring to Ivanka and Jared Kushner.
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