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The city of Turpan in western China’s Xinjiang Autonomous Region recently became home to the nation’s 30th carbon trading exchange, even as government officials have said only a few bourses will be allowed to operate in the national emissions trading scheme.
Carbon Trade eXchange (CTX) has partnered with the UNFCCC to allow for the purchase, sale and voluntary cancellation of CERs via the company’s online platform, offering organisations and individuals another route to offsetting their carbon footprints.
European carbon prices climbed late on Tuesday despite a bearish energy complex to reclaim ground lost during the previous session, but remained capped below sub-€5 technical resistance.
RGGI will offer 14.6 million spot allowances in its next auction, scheduled for June 7, the market’s operators said Tuesday.
BITE-SIZED UPDATES FROM AROUND THE WORLD
Bang for bucks – Global clean energy investment in Q1 2017 was down 17% yr/yr at $53.6 billion, according to the latest figures from Bloomberg New Energy Finance (BNEF). Highlights were the $1.4 billion of public market share issues by Tesla and the estimated $650 million financing by Enel of its Villanueva photovoltaic complex in Mexico. Although this was a relatively quiet quarter for global clean energy investment, it’s too early to assume that 2017 overall will be lower than 2016, said BNEF clean energy economics analyst Abraham Louw. The dip in total financing reflects declines in average capital costs for wind and solar, meaning its possible to finance equivalent amounts of capacity for fewer dollars.
The Green Mountain tax – Vermont legislators on Monday proposed four carbon tax bills that each contained revenue-neutral features, including lowering property taxes, eliminating sales tax, cutting income tax and paying out dividends. However, with a Republican governor and state GOP lawmakers firmly against the idea, none of the proposals is expected to pass.
Pre-tax regulations – After being in draft format for nearly two years, National Greenhouse Gas Reporting Regulations were published by South Africa’s Minister of Environmental Affairs on Apr. 3. According to IBIS Consulting, writing on CNBCAfrica.com, the timing and format of the country’s long-delayed carbon tax are still unknown but these regulations underpin the GHG data to be reported to the government under this upcoming regime.
Rewilding Europe – The European Investment Bank (EIB) and the European Commission have announced the first loan agreement backed by the Natural Capital Financing Facility, lending €6 million to facility Rewilding Europe Capital to support 30+ nature-focused businesses across Europe to protect biodiversity and promote climate adaptation. (EIB)
Straight and level – Until now, calculating emissions from aircraft in Sweden has assumed airlines take the straightest and shortest routes, despite this not being the usual case in real-world conditions. A collaboration involving the Swedish Defence Research Agency (FOI), the Swedish Transport Agency and Sweden’s air navigation service provider LFV is now trying to narrow the gap between estimated and actual flight paths, GreenAir Online reports. By studying the radar tracks, FOI has been able to refine its calculation model and bring down the difference by around 8%. LFV said the outcome could lead to lower fuel consumption and a reduced climate impact from the aviation sector.
And finally… It’s a bird! It’s a plane! No, it’s… – German utility E.ON is looking for cheaper alternatives to conventional wind power turbines and has identified so-called airborne wind energy as a promising option, Handelsblatt reports (in German). According to company sources, E.ON is investing €3 million in this “possibly ground-breaking technology” and is preparing first test runs with Dutch airborne wind energy systems manufacturer Ampyx Power. The technology resembles a kite that is tied to a rope and has a greater energy yield than conventional turbines at lower costs by harnessing wind in heights up to 450 meters. Read more about this from Ampyx Power.
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