CP Daily: Monday October 9, 2017

Published 02:44 on October 10, 2017  /  Last updated at 02:46 on October 10, 2017  /  Newsletter  /  No Comments

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

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TOP STORIES

Lead MEP suspended from UK political party, says work on EU ETS reform talks unaffected

UK MEP Julie Girling was suspended from her political party on Sunday, though both her and her EU political grouping later said the decision would not hinder progress in EU ETS negotiations she leads for the bloc’s Parliament on post-2020 reform and aviation.

CORSIA countdown triggers blame game on ‘junk’ carbon offsets

An expectation of vague guidance from UN agency ICAO on CORSIA’s eligible carbon credits has triggered heated debate over whether the rules will leave airlines vulnerable to buying ‘junk’ units lacking environmental integrity.

EMEA

UK against current ETS Brexit-proof measure, discussing alternatives

The Brussels plan to Brexit-proof the EU ETS is not the right solution should the two sides fail to agree an overall EU divorce deal, a UK government spokesperson told Carbon Pulse.

EU Market: EUAs stay close to €7 as observers predict ETS talks will rumble on

EU carbon prices on Monday followed a recent pattern of rebounding from near €6.80 levels as observers warned that European lawmakers could fail to make good on their aim to conclude post-2020 ETS reform talks this week.

ASIA PACIFIC

China’s Guangdong to expand power market

China’s southern manufacturing hub is planning to increase by 60% the amount of electricity trading on its nascent power exchange next year, imposing tougher competition on its ETS-regulated generators.

Australia minister hints at CET rejection

Australia’s Energy and Environment Minister Josh Frydenberg on Monday hinted the government would reject a Clean Energy Target when finalising its climate policy review, saying renewables were becoming so cheap that they don’t need any subsidies.

NZ Market: NZUs hit 3-week highs on diminishing supply

New Zealand carbon ended stronger for a fifth consecutive session on Monday, extending gains to a three-week high despite a lack of clarity over the election outcome as available supply shrinks.

Ex-China govt official joins ICF from ICIS

A former climate change official with the Chinese government this week leaves analysis firm ICIS to join the Beijing office of consultants ICF.

AMERICAS

California carbon conference cancelled as thousands flee wildfires

The Argus California Carbon & LCFS Summit was cancelled a day ahead of its start on Monday due to rampant wildfires that have forced some 20,000 residents to flee the state’s wine-producing region.

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BITE-SIZED UPDATES FROM AROUND THE WORLD

Unwind grind – The head of the US EPA Scott Pruitt said he would sign a proposed rule on Tuesday to begin withdrawing from the Clean Power Plan, former president Obama’s centrepiece climate regulation. “Here’s the president’s message: The war on coal is over,” he told a gathering in Kentucky coal-country. The effort to undo the plan is part of a broader target of the Trump administration to revive the coal industry and boost domestic fossil fuels production. (Reuters)

German coal countdown – The future of coal-fired power generation is going to be one of the German government’s coalition talks’ most delicate matters. Coal power plants are responsible for around a third of German GHG emissions, so an accelerated phase-out could allow Chancellor Angela Merkel to make good on her promise to reach the country’s 2020 climate target. The Free Democrats (FDP) oppose “banning policies” and call for market-based incentives instead. Leading Green politicians have said a coalition agreement with Merkel’s CDU and the FDP will be contingent on climate policy progress. The talks are set to last several weeks and tipped to reach their peak around the time of the Nov. 6-19 UN climate negotiations in Bonn. (Climate Home, Clean Energy Wire)

And finally… Finally!The UK government’s much-delayed Clean Growth Plan is expected on Thursday, reports the Telegraph, the right-leaning newspaper often favoured for being passed leaks by the ruling Conservatives. The plan is likely to touch on CCS for industrial areas and low-carbon methane for the gas grid, as well as the government’s “Faraday Challenge” to boost electric vehicle battery development and its 2040 ban on traditional cars. It may also tout Tata Steel’s role in manufacturing electric car parts and the boost to industry from offshore wind factories.

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