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China has suggested the US could buy foreign carbon credits to help meet a shortfall in the country’s international emission goals, one of the clearest signs yet that patience is wearing thin among the global community about the Trump administration’s commitment to climate action.
Spain-based utility Iberdrola saw its Q1 EU thermal power output fall 18.8% year-on-year as the closure of a UK coal-fired power plant was partially offset by a resurgence in fossil-based fuels as Spanish hydro output slipped.
EU carbon prices inched higher on Wednesday to edge away from the 2017 low of the previous session despite weak demand signals from Poland’s auction.
China’s Shanxi province is planning to set up an exchange to handle transactions of forestry credits resulting from its tree-planting programme, according to local media.
California regulators handed out 117,000 offsets to five livestock projects this week, the fewest awarded since late January.
UK MEP Ian Duncan intends to combine his role as lead negotiator for the EU Parliament in finalising the post-2020 ETS reform bill with fighting for a seat in the June 8 UK general election.
BITE-SIZED UPDATES FROM AROUND THE WORLD
Indian jeopardy – Current plans to build 370 coal-fired power stations in India will gravely undermine the country’s Paris climate pledge, or create “stranded assets” worth billions of dollars, according to new research. But there are signs that some may never get built. (Carbon Brief)
Pension power – Most of the world’s largest asset owners have gotten the message that climate change poses a risk to their portfolios and are pivoting toward greener investments, according to the Asset Owners Disclosure Project. It found funds worth $27 trillion that comprise 60% of the world’s biggest investors are considering climate change when making investment decisions, up from 18% last year. (Bloomberg)
And finally… Do nothing? – Green lawmakers in Germany say the country’s exit from coal would happen even without climate protection goals. Oliver Krischer, vice-chairman of the Green Party’s parliamentary group, said during a speech on his party’s energy policy ambitions after the general elections “I don’t see any competitiveness for coal anymore … and that “the end of the age of coal has come regardless of climate protection”. As such a “coal exit” would be an issue that any future government in Germany would have to face and is possible within 20 years he said. (Clean Energy Wire)
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