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China’s off-grid power plants operated by heavy industry might avoid being included in the national ETS as regulators struggle to account for them, potentially undermining government efforts to use the carbon market to curb emissions.
New Zealand carbon allowances inched up again on Monday, closing at NZ$18 ($13.16) for the first time in almost six months as the market took in the potential outcome of a surprise Labour election win.
Australia’s Clean Energy Regulator has given two plants owned by mining major Rio Tinto permission to increase CO2 emissions under the Safeguard Mechanism, a policy intended to help cut greenhouse gas output.
China’s plans to build a new city near Beijing to alleviate the pressure on the over-populated capital could attract green investment of over a trillion yuan ($150 billion) as it seeks to woo cleantech industries including the main exchange in the nation’s new carbon market.
Last week’s WCI auction likely sold out at the highest clearing price in four years, an analyst predicted, forecasting that the rest of these quarterly sales through 2020 will see all units “snapped up”.
Carbon credit issuances by the American Carbon Registry (ACR) have topped 100 million tonnes, the voluntary market certifier announced on Monday, after doling out more than 12 million in the past week.
EUAs failed to hold onto the previous week’s 8% gain on Monday, slipping slightly in becalmed trade as analysts warned of steeper falls due to the upcoming resumption of bigger auctions.
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Job listings this week:
Senior Carbon Market Analyst – Europe (EU ETS), Thomson Reuters – Oslo
Senior Environmental Policy Consultant – Climate Change, Amec Foster Wheeler – London
Junior Climate Policy Analyst, NewClimate Institute – Cologne/Berlin
Economic Modelling Experts, National Centre of Emissions Management (KOBiZE) – Warsaw
Portfolio Manager, Carbon Credits & Green Certificates – Sydney/Melbourne
Professor of Energy and Climate Change, UCL – London
Lead Analysts – Buildings & Bioenergy, UK Committee on Climate Change – London
Various roles and internships, CDP – NYC/Hong Kong/Berlin/London/Zurich/Stockholm/Brussels
Special Projects Director, Climate Action Network (CAN) – flexible location
Junior Legal & Policy Advisor, Climate Law and Policy (CLP) – Oxford, UK
Intern (Data Collection), Environment & Climate Change Unit, UNDP Pakistan – Islamabad
Or click here to see all our job adverts
BITE-SIZED UPDATES FROM AROUND THE WORLD
Capturing industry – The UK’s Daily Telegraph profiles Norway’s state-led efforts on industrial CCS, which the country hopes one day will provide a “CCS highway” to take in all of Europe’s CO2 emissions. It details Norway’s and the UK’s work on converting gas-fired units to burn hydrogen and capture the resulting CO2 for around £58/tonne as well as the UK’s potential for CCS at its Teesside chemical complex.
The new pollution – Germany’s coal states are calling on the federal government to prevent stricter pollution limits for coal-fired power plants by taking legal action against the EU Commission, according to public broadcaster rbb. Saxony, Brandenburg, North Rhine-Westphalia and Saxony-Anhalt have written to the federal economy minister protesting that post-2020 changes to the Industrial Emissions Directive known as LCP BREF standards were based on false calculations and were thus not lawful, the states argue. In June, analysts Energy Aspects slashed their long-term EUA price forecasts by a third after weighing the bearish impact of the measures (see Carbon Pulse’s take here). (Clean Energy Wire)
Fund like an Egyptian – The Green Climate Fund is set to start disbursing its contribution to a $1 billion renewable energy drive in Egypt next month, Climate Home reports. The GCF signed a deal with the EBRD on Thursday, clearing the last legal hurdle to get money flowing. In the biggest project GCF has funded to date, it will supply up to $150 million worth of loans and a $4.7m grant, while the EBRD, which is responsible for implementing the project, is putting in a $2.3m grant and $350m of loans. The money will support the Egyptian government’s target of generating 20% of electricity from renewable sources – wind, hydro and solar – by 2022. The money will be used to fund technical assistance with policy and planning, and encourage investors to enter the clean energy market.
Too hot to handle – Famed for its sunshine and high temperatures, Qatar might seem the ideal place to install solar panels, but as it looks to branch out into renewable energy, it has found that it is too hot for the panels to work properly. Summer temperatures that can reach 50C, combined with the build-up of dust, can reduce the efficiency of a photovoltaic panel by more than half. Qatar is ploughing tens of millions of dollars into research to develop desert panels that can withstand the harsh environment. (The Times, $)
That’ll be all – The Trump Administration has ended the 15-person advisory panel for the National Climate Assessment that worked to translate the report’s scientific findings into long-term planning guidance for the public and private sector, reports the Washington Post. NOAA’s acting administrator Ben Friedman informed the committee’s chair on Friday that the agency will not renew the federal advisory panel, which consisted of academic, corporate representatives and local officials. NOAA says this action will not impact the upcoming 2018 NCA report, “which remains a key priority.” A draft of the report – leaked to press because scientists feared censorship by the Trump administration – said human activity is a primary cause of long-term planetary warming. Committee chair Richard Moss called the group’s disbanding a short-sighted move which could “possibly end up hurting the next generation’s economic prospects.” (Climate Nexus)
Manchin out – Senator Joe Manchin (D-WV) is quashing speculation that he’ll leave the US Senate to take over for Rick Perry as Energy Secretary. Manchin, who is facing a tough 2018 re-election bid, said at a town hall that he would not be joining the Trump administration. The move would have let West Virginia Governor Jim Justice, a former Democrat who earlier this month switched to the GOP, appoint a Republican to replace Manchin in the Senate and hand another vote to the ruling party. Perry is being touted to lead the Department of Homeland Security after John Kelly was made Trump’s Chief of Staff.
And finally… The Toon Army – The New York Times profiles the energy services strategies of Dutch utility Eneco, including its piloting of a wall-mounted energy monitor, known as a Toon, among the most successful of its initiative to make more money while selling less power.
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