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EU nations may be closer to accepting provisions to allowing voluntary EUA cancellations in post-2020 EU ETS reforms as they head into what could be the final weeks of talks on the bill.
EU carbon prices continued their recent sharp rise on Thursday to extend a 16-month high and top €7 for the first time this year, unfazed by a rare cancelled EUA auction.
Analysts at Energy Aspects have nudged up their near-term EUA forecasts for the second time in as many months after prices staged an unexpected 14% rally in August.
Thursday’s EUA auction was cancelled due to low bidding interest, host EEX said.
China should as much as possible refrain from government intervention when the national emissions trading scheme launches and allow a healthy OTC market develop in parallel with exchange-based trading, according to experts.
The US will continue to see its GHG emissions decline in spite of President Trump’s decision to withdraw the country from the Paris Agreement, ratings agency Moody’s said, adding that growing investor and shareholder preferences for corporate sustainability will support the trend.
Carbon prices on both US coasts edged lower this week amid modest trading, with a quiet California market and RGGI participants awaiting the outcome of Wednesday’s quarterly auction.
Governments, companies and investors take different approaches to weed out carbon credits they deem lacking in environmental integrity, making it tricky for airlines to anticipate buying options in what will become the world’s biggest offsetting scheme.
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 the 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
Be nice… – Hundreds of advocates from around the US are pressing their Republican lawmakers to take action on climate change through a rarely deployed, yet highly effective, tactic. They’re asking nicely. (E&E)
… is a lesson Hillary might have benefited from – In her new book, the former presidential candidate said her biggest regret from the campaign trail last year was saying she would put coal miners out of business, according to CNN, which obtained an early copy this week. Clinton made the remark during a town hall in Columbus, Ohio, in Mar. 2016 when she touted her plan to replace fossil fuel-based energy production with renewables. “I’m the only candidate which has a policy about how to bring economic opportunity using clean renewable energy as the key into coal country,” she said. “Because we’re going to put a lot of coal miners and coal companies out of business.” She quickly added that she wanted to help coal miners and other workers who gave their health and sometimes their lives to produce the nation’s energy. (Business Insider)
Hit n’ miss – Germany is likely to miss its 2020 emissions reduction target by nearly 120 million tonnes of CO2e – a far greater margin than previously thought, think-tank Agora Energiewende said in a new study. The country should quickly implement an ambitious set of measures to avoid “probably irreparable damage” to its international reputation as a climate protection frontrunner, the organisation added. “The next government immediately has to step up its efforts to at least get the country somewhere near its target,” Agora Energiewende head Patrick Graichen said. (Clean Energy Wire)
Hack attack – A group of hackers, known as Dragonfly, have infiltrated the operational systems of energy companies in the US and Europe, according to cyber security experts Symantec. While the hackers have not yet caused power outages, Eric Chien, a technical director at Symantec, warned that the attackers were “potentially political motivated”, and could put power grids in the US and Turkey at risk. Attacks by a different group that made whole regions in Ukraine go dark in 2015 and 2016 (Financial Times, $)
Desert power – An enormous solar park in the Sahara could soon be exporting electricity to Europe if Tunisia’s government approves an energy company’s request to build it. The 4.5GW mega-project planned by TuNur would pipe electricity to Malta, Italy and France using submarine cables in the grandest energy export project since the abandoned Desertec initiative. (The Guardian)
And finally… Parasite lost – Climate change could cause up to 30% percent of the world’s parasites to go extinct, risking massive destabilisation of ecosystems. A study published in the journal Science Advances uses climate models and a comprehensive global parasite distribution map to predict extinction levels. (The Guardian)
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