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The world needs carbon prices of at least around $40-80/tonne in 2020 and $50-100 in 2030 to keep global temperatures from rising above 2 degrees C, according to a report led by two renowned economists and backed by the World Bank’s Carbon Pricing Leadership Coalition (CPLC).
British Columbia’s carbon tax will be unfrozen and raised sooner than expected after two of the Canadian province’s left-wing parties reached a four-year coalition agreement to oust the ruling Liberals following this month’s election.
Tuesday’s trilogue talks over post-2020 EU ETS reforms have been postponed by the European Parliament due to its lead negotiator Ian Duncan being unable to attend, leading bloc president Malta to call for his replacement.
European steel CEOs urge EU Council to adopt Parliamentary post-2020 ETS reforms to protect industry
A group of 76 CEOs from Europe’s steel industry on Monday urged EU leaders to back several of the European Parliament’s ETS reforms and to not burden the sector with high costs that will constrict investment and increase the risk of job losses and plant closures.
Australia’s climate change policy needs a complete makeover with broad access to international carbon offsets and potential border tax adjustments to protect domestic industry, according to the nation’s biggest industry lobby group.
The European Parliament’s Environment Committee (ENVI) on Tuesday voted to strengthen and close loopholes in the EU’s Effort Sharing Regulation, which covers emissions from sources not regulated by the ETS.
European carbon prices ended lower on Tuesday on late selling stemming from a failure to top Monday’s 11-week high, while a postponement of negotiations over post-2020 reforms to the EU ETS, a resumption of government allowance sales, and an unsupportive energy complex added to bearish sentiment.
Trading volumes in RGGI allowances dropped sharply in Q1 2017, according to a report by market monitor Potomac Economics, as uncertainty surrounding the scheme’s future and falling prices appeared to curb speculation.
Job listings this week:
Senior Analyst (x2), Emissions Trading Scheme, NZ Environmental Protection Authority – Wellington
Analyst, Emissions Trading Scheme, NZ Environmental Protection Authority – Wellington
Director, Climate Change Programme, IDDRI – Paris
Manager/Senior Manager, Marchés Carbone et Nouveaux Mécanismes, EcoAct – Paris
Business Analyst, Energy and Climate Change, ClimateWorks Australia/Monash University – Melbourne
Individual Consultant to Assess GCF Accreditation Panel, Green Climate Fund – Working remotely
Consultant, Caribbean Community Climate Change Centre (CCCCC) – Belmopan, Belize
Or click here to see all our job adverts
BITE-SIZED UPDATES FROM AROUND THE WORLD
Say it ain’t so, Donnie – President Trump has privately told multiple people, including EPA Administrator Scott Pruitt, that he plans to leave the Paris agreement on climate change, three sources with direct knowledge told Axios. Trump over the weekend said on Twitter that he would announce his decision this week. But Axios noted that while Trump campaigned on a Paris withdrawal, “he has been known to abruptly change his mind — and often floats notions to gauge the reaction of friends and aides. On the trip, he spent many hours with Ivanka Trump and Jared Kushner, powerful advisers who back the deal.” This comes after the president refused to endorse the Paris Agreement in the G7’s climate communique, again labelling the US position as ‘under review’.
CCS push – Australia on Tuesday announced it would change the legislation for its A$10-billion Clean Energy Finance Corporation (CEFC) to allow it to invest in carbon capture and storage (CCS) projects. Energy and Environment Minister Josh Frydenberg – who on Monday ruled out contemplating a carbon pricing mechanism – said the move was “the latest demonstration of the Government’s commitment to a technology neutral, non-ideological, approach to national energy policy”. Australia launched a CCS programme in 2009, but that was later binned.
Scheer luck – Canada’s Conservatives this weekend named a new leader – 38-year old former House Speaker Andrew Scheer – who has promised to repeal the ruling Liberal government’s carbon tax plan, which he calls a “cash grab”, while allowing provinces to decide their own carbon-price fate. According to the CBC, Scheer also wants Canadian carbon-capture or clean-coal technology to play a bigger global role, and for gas pumps to be adorned with the flags of the countries that produced the oil, so Canadians can choose “Canadian-sourced, ethically-produced oil.”
Tiny steps – Two Mongolian projects have been registered under the Joint Crediting Mechanism (JCM) with Japan, taking the nation’s tally under the programme to four and the JCM’s total to 18. Japan expects the scheme to generate 50-100 million offsets by 2030, although it has come off to a slow start. One of the new projects, a solar power project in Darhan city where the technology will be delivered by Sharp Corp., is expected to cut emissions 157,000 tonnes of CO2 by 2030, making it among the biggest registered so far.
Make it ‘appen – Some 200 million Chinese users have downloaded an app by financial services provider Ant Financial that helps them make carbon-friendly decisions in everyday life, according to a new report. The app is part of the UNEP-led Green Digital Finance Alliance. The app is set up to let users compete with friends (or just themselves) in saving the most carbon, and whenever a user has saved enough equal to planting a tree, a real tree will be planted in Inner Mongolia. So far, some 150,000 tonnes of CO2e has been cut through the app, the report said, but the number is expected to grow significantly.
And finally… Sleepless nights – Unusually warm nights can make it harder to get a good night’s sleep. A new study, covered by New Scientist, predicts that by 2050 climate change could cause six additional nights of poor sleep per 100 people compared with today, and 14 extra nights per 100 by 2099. The research in Science Advances also predicts that people in low-income households will suffer three times as much sleeplessness because they cannot afford air conditioning.
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