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EU nations have agreed a position largely in line with a Brussels plan to extend the suspension of extra-European aviation emissions from the EU ETS until ICAO’s global CORSIA regulation is evaluated.
New Zealand agriculture business leaders are beginning to push for the inclusion of the country’s biggest-emitting sector in the ETS despite the government’s reluctance to impose a carbon price on farming.
China’s central government on Wednesday assigned tasks to specific government organisations in relation to launching the ETS and other climate policies, a move designed to speed up the execution of the programmes.
Mid-Atlantic grid operator PJM has proposed a new method to integrate the carbon pricing policies of individual states into the region’s wholesale energy market.
UK-based Centrica is selling two gas-fired power stations to a subsidiary of EPH, marking the latest in a growing number of European energy asset acquisitions for the Czechia-headquartered firm.
European carbon prices fell on Wednesday, ending near session lows following another failed attempt to climb back above €5.
South Pole Group has sold its investment carbon footprinting business to a US-headquartered advisory firm, the companies announced Wednesday.
BITE-SIZED UPDATES FROM AROUND THE WORLD
Brexit silence – In the UK, the Queen’s Speech outlined the government’s main legislative aims for the next two years. It didn’t feature any separate ETS bill, shedding no further light on whether UK emitters will leave the EU ETS. The overall tone of the speech largely stuck to the Conservative government’s pre-election line for a ‘hard Brexit’ requiring a detachment from the EU single market and customs union. Observers had said this approach would mean an ETS exit was the more probable outcome, should the minority post-election Conservative government survive the Brexit process. (Politico has more on the speech here)
Stranded assets – The oil and gas industry risks wasting $2.3 trillion in planned investments by 2025 if countries pursue strategies to cut emissions, according to a new report from NGO Carbon Tracker. It finds that a third of planned oil and gas projects worldwide are in jeopardy if oil demand peaks in the next decade. The analysis also ranks oil and gas companies by potential risk, with Exxon Mobil topping the list at up to 50% of its projects that could be at risk as countries implement their Paris Agreement goals.
And finally… Climate jobbing – A New Jersey mayor says she’ll focus on climate change rather than running for a third term in office, all because of President Trump. Hoboken’s Democratic Mayor Dawn Zimmer announced her decision not to run on Tuesday, saying she wants to “take a new role working more directly” on climate change after Trump said he would pull the country out of the Paris Agreement. Meanwhile, TV Meteorologist Mike Favetta left his News 12 gig after 10 years to head to Milan, Italy, where he wants to help companies understand how global warming affects them via his consultancy Weather Prep. (AP, Bloomberg)
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