CP Daily: Monday June 26, 2017

Published 00:08 on June 27, 2017  /  Last updated at 11:46 on June 27, 2017  /  Newsletter  /  No Comments

A daily summary of our news plus bite-sized updates from around the world.

**IMPORTANT: Carbon Pulse’s server is being migrated to a more energy efficient data centre. As a result, our website may be offline for several hours between 2100 GMT on June 28 and 0500 GMT on June 29. We apologise for any inconvenience.**

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TOP STORY

Governor Brown wades into California cap-and-trade debate with new draft proposals

Governor Jerry Brown is taking a hands-on approach to extending California’s cap-and-trade programme, drafting his own proposals in an attempt to gain a two-thirds majority vote in the legislature while simultaneously assuaging industry and environmental campaigners. Carbon Pulse has obtained a draft copy and breaks it all down for subscribers.

ASIA PACIFIC

China’s Fujian moves to restrict private carbon trade

The Fujian Haixia Equity Exchange has increased fivefold the minimum volume required for privately negotiated carbon trading deals, in a move to prevent fraud.

Australia issues 223k offsets, ponders extended crediting periods

Australia’s Clean Energy Regulator last week issued 222,521 new carbon credits and has begun a consulting process on potentially extending crediting periods for landfill gas projects.

Japan approves its first REDD project under JCM

Japan has approved its first REDD project under its Joint Crediting Mechanism (JCM), the environment ministry said Monday.

EMEA

EU Market: EUAs dip to 1-month low as lawmakers to resume ETS talks

EU carbon prices slipped to their lowest since May 24 on Monday as EU negotiators prepare to resume final talks on post-2020 ETS reforms.

CONFERENCE

CARBON FORWARD 2017: Super Early Bird 20% discount ends June 30

CARBON FORWARD 2017 takes place Sep. 26-28 in Canary Wharf, London. The two-day conference (Sep. 27-28) is being held at the 5-star Canary Riverside Plaza Hotel, while the venue for the pre-conference Training Day (Sep. 26) is nearby and will be announced shortly.

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Job listings this week:

Senior Manager of Energy Trading, Southern California Edison – Los Angeles
Low Carbon Market Development Specialist, Enbridge – North York, Ontario
Associate Director of Forest Carbon Development, Finite Carbon – Flexible location
Business Analyst, Urban Transitions, Climate-KIC – Any Climate-KIC office
Climate adaptation consultant and GIS Expert, Acclimatise – Cardiff/Oxford
Consultant, Climate Policy and Weather Modelling, South Pole Group – Zurich/Stockholm/London
Consultant, Cap and Trade Strategic Advisory & Program Development Services – Kitchener, Ontario
Regional Senior Expert Climate Change, WRI – Kampala, Uganda
Intern, Technical Assistant, Perspectives – Freiburg, Germany

Or click here to see all our job adverts

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BITE-SIZED UPDATES FROM AROUND THE WORLD

Fin – France is to stop granting licences for oil and gas exploration as part of a transition towards environmentally-friendly energy being driven by Emmanuel Macron’s government. Nicolas Hulot, the ecological transition minister, said a law would be passed in the autumn. “There will be no new exploration licences for hydrocarbons,” he told BFMTV. Macron is also planning a huge renovation programme for French homes to reduce energy consumption, cut CO2, reduce energy poverty, and create jobs, while also preparing the groundwork for an inevitably-doomed attempt to propose a UN treaty to both impose legally-binding obligations on countries to recognise the environmental rights of its citizens and allow governments to be brought to justice for flouting those rights.

G20 clash – Germany signalled that it will make climate change, free trade, and the management of forced mass global migration the key themes of the G20 summit in Hamburg next week, teeing up tension with President Trump. On climate change, Merkel has prepared the ground carefully, hosting India and China’s leaders, though Germany insists it is not seeking confrontation at the summit. The only country Trump will visit in Europe before the summit is coal-intensive Poland. (The Guardian)

Pension pace – Only one in 20 pension schemes in Europe has taken steps to combat the risks of climate change, according to consultancy Mercer. It found that just 5% have considered the investment risk posed, after gathering information from 1,241 institutional investors across 13 countries that manage combined assets of about €1.1 trillion. Despite regulators making it increasingly clear that it was the duty of asset owners to consider all risks that might be financially material, UK fund association PLSA said more needs to be done by them to encourage trustees to put effective climate change risk measures in place. (Financial Times, $)

Mayors in major – The Global Covenant of Mayors for Climate & Energy will hold its inaugural board meeting in Brussels on Tuesday, convened by co-Chairs of EU Commission Vice President Maros Sefcovic and billionaire financial news mogul Michael Bloomberg. Former and current UNFCCC chiefs Christiana Figueres and Patricia Espinosa will also attend as part of the effort to drive city-led climate action.

Damaging dithering – The UK’s ambitious target of slashing carbon emissions by more than half within 13 years is at risk because of government dithering on energy policy, industry professionals have warned. A survey by the Energy Institute, the professional body for the energy sector, has found that four fifths of its members believe the UK is currently on track to miss the 2030 goal. (Carbon Brief)

Solvay cancels CERs – The Korean subsidiary of Belgian chemical firm Solvay has cancelled 124,400 CERs, which will be re-issued as offsets eligible in South Korea’s emissions trading scheme, according to a UNFCCC website. Those offsets, known as KOCs, trade in the Korean market at 20,500 won ($18.04), nearly 80 times the price of UN-issued CERs in the EU ETS.

And finally… Attack of the drones – An Australian engineer is hoping to use drones to plant 1 billion trees every year to fight climate change. Susan Graham has helped build a drone system that can scan the land, identify ideal places to grow trees, and then fire germinated seeds into the soil. Drones can plant in areas previously impossible to reach, like steep hills. Graham argues that bulldozers and tractors can clear land rapidly – and replanting efforts haven’t caught up. She is hoping to change that with a system that plants at “10 times the rate of hand planting and at 20 per cent of the cost”, she said. Now based in Oxford, Graham is working with an international team including an ex-NASA engineer who worked on the search for life on Mars. Their company, BioCarbon Engineering, is backed by one of the world’s largest drone makers. (ABC)

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