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TOP STORY
California senator threatens to use budget bill to overturn ARB decision on free CO2 allowances
A California senator has said he plans to use the 2018 budget bill to undo the Air Resources Board’s (ARB) July decision to extend high levels of free CO2 allowance allocation to oil refineries and other emitting industry in the state’s cap-and-trade programme.
EMEA
EU Market: EUAs lift back above €6 for 4.6% weekly gain
EU carbon prices defied a weak auction to climb back above €6 on Friday, ending just shy of the previous session’s 8-month high and shrugging off bearish warnings about a looming auction supply hike.
ASIA PACIFIC
NZ Market: New Zealand carbon extends gains amid election uncertainty
New Zealand carbon prices notched up another 5-cent gain on Friday, taking them to their loftiest levels since Feb. 22 as the ongoing election thriller puts upwards pressure on CO2.
Australia’s carbon programme passes 40-million offset milestone
Australia’s Clean Energy Regulator has issued nearly 560,000 new offsets over the past two weeks, taking the total number of domestic carbon credits above the 40 million mark.
China’s Fujian closes in on 2017 target for forest carbon offsets
Officials in China’s Fujian have approved five forestry projects that can generate a total 920,000 offsets at first issuance, close to the official target of cutting 1 million tonnes of CO2e annually from the province’s forest carbon programme.
CN Markets: Pilot market data for week ending Aug 26, 2017
Below is a table of the closing prices, ranges and volumes for China’s regional pilot carbon markets this week. All prices are in RMB, and volumes in tonnes of CO2e. Data sourced from local exchanges.
VOLUNTARY
Voluntary carbon market data from CTX for Aug. 25, 2017
A table of Verified Emission Reduction (VER) prices and offered volumes, based on voluntary market data provided by CTX.
CONFERENCE
As partners of the Carbon Forward 2017 conference, Carbon Pulse brings you an updated conference programme showcasing the speakers and panellists who will present at this premier carbon pricing event in London over Sep. 26-28. You can view the updated programme here.
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BITE-SIZED UPDATES FROM AROUND THE WORLD
Expecting an exit – 72% of Germans say their next government should decide on a timetable for the country’s coal exit, according to a survey by Kantar Emnid, commissioned by green group BUND. 59% of respondents said that German coal-fired power plants should be decommissioned “soon”. BUND head Hubert Weiger said this showed that Germans “expect the federal government to act on a coal exit. A large number of coal-fired power plants must be shut down within the coming two to three years.” (Clean Energy Wire)
Break the ice – A commercial tanker has sailed across the northern passage from Europe to Asia without the protection of an ice-breaker for the first time. Previously, the route was only open for four months and you had to have ice-breakers. Shipping companies were making a “safe bet” in building ships in anticipation that the northern sea route will open up as the loss of sea ice is unlikely to be reversed. (BBC)
Tale of two coals – The future of coalmining in Australia, which produces about 30% of the world’s total, is split in two. Thermal coal burned in power stations to provide electricity is forecast for modest growth in exports in the near term but with prices expected to fall to US$60 a tonne by the end of the decade, down from a US$110 peak late last year there’s little incentive for investment in new major projects. Meanwhile, higher-quality metallurgical coal, mainly used in producing steel, is not expected to decline as quickly as there is not the readymade alternative to coal in steel manufacturing that there is in electricity generation. (The Guardian)
Concrete capture – An Australian pilot project capturing CO2 emissions and storing them in building materials aims to have a full-scale production plant by 2020. Mineral Carbonation International, an Australian company developing carbon-utilisation technology officially launched its technology and research program at the Newcastle Institute for Energy and Resources today. By 2020 it hopes to be producing 20,000-50,000 tonnes of the bonded material for building companies, and said it anticipates the process will be economically viable even without a high carbon price. (The Guardian)
And finally … small fry – Fish could become smaller as ocean temperatures rise because of climate change, a new study suggests. When the water warms, cold-blooded fish get less of oxygen they need and this could stunt the growth of fish by as much as 25% per degree of warming, the researchers conclude. (Mail Online)
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