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Four utilities have urged the UK to extend the country’s carbon floor price into the 2020s, pressuring the government to give clarity on its policy in an upcoming budget statement due next month.
Russian chemical company Khimprom has become the first domestic firm to get emission reductions certified, registered and issued on blockchain as part of a private sector-led effort to build a carbon trading hub in the country.
German energy exchange EEX and the China Beijing Environment Exchange (CBEEX) have partnered to find a way for foreign firms to trade in China’s emerging carbon market, the companies announced Monday.
China’s Hanergy has sold 48% of the shares in its emissions industry business, the company said Monday, with some of the fresh funds to be spent on non-carbon business.
China’s Tianjin Climate Exchange is due to hold its first ever CO2 permit auction next week when it will offer a small amount of allowances on behalf of a firm covered by the local ETS.
EU carbon prices dropped for the third consecutive session on Monday after a weak auction and as some observers identified the potential for further falls.
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Executive Secretary, REN21 – Paris
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Lead Finance Specialist, SE4ALL – Washington DC
Climate and Energy Program Director, Friends of the Earth – Washington DC
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BITE-SIZED UPDATES FROM AROUND THE WORLD
Speedy exit, the legal way – The German government could introduce a speedy coal exit without having to pay compensation to power plant operators, according to think-tank Agora Energiewende. Law firm BeckerBüttnerHeld (BBH) analysed last year’s nuclear phase-out decision by Germany’s constitutional court and compared it to a possible quick coal-exit scenario. The state could order the shut-down of coal-fired power stations older than 25 years, BBH found, as these are usually written off by then. However, it would have to give early notice to guarantee a transition period of about a year. For the shut-down of open-pit coal mines, longer transition periods would be necessary to avoid compensation payments. (Clean Energy Wire)
Silenced – The EPA has barred three scientists from appearing at a conference to talk climate change, the New York Times reports. An EPA spokesperson confirmed that no agency scientists would speak publicly today in Providence at the State of Narragansett Bay and Its Watershed program and would not elaborate on the agency’s reasoning behind the decision. The silenced scientists had contributed substantially to a 400-page report on the state of the bay, scheduled to be discussed today, which finds that climate change is altering the bay’s health.
Renewables Target – Target, one of America’s leading discount store retailers, last week announced a new climate policy and goals based on the Science-Based Targets initiative, including a commitment to source 100% renewable energy in its domestic operations. The retailer pledges to reduce its Scope 1 & 2 GHGs by 25% below 2015 levels by 2025 through ramping up its use of solar and renewables and increasing the energy efficiency of its heating and lighting sources. It will also implement projects in its owned brand manufacturing facilities that will result in the avoidance of 2 million tonnes of Scope 3 emissions annually by 2022. (CleanTechnica)
Private roundtable – The Asia Society Policy Institute (ASPI) and Carbon Pricing Leadership Coalition (CPLC) are convening a closed-door roundtable on Friday, Oct. 27 to explore barriers and opportunities for expanding carbon market cooperation between Japan and neighboring Asian countries. The roundtable will bring together architects and thought leaders of national and subnational carbon markets in Asia, as well as international carbon market experts and practitioners. It seeks to facilitate dialogue and strategic planning on a) enhancing the effectiveness of domestic carbon markets in Japan and other Asian countries; b) the design elements needed in each market to enable future cooperation and linkage; and c) the feasibility and benefits of market links from different regional perspectives. This event is by invitation only.
And finally… Held captive – The shipping industry has “captured” UN talks on a climate target for the sector, using its clout to delay and weaken emissions curbs. That’s according to a report by business lobbying watchdog Influence Map on the International Maritime Organization (IMO), which was released to coincide with a meeting of the body’s working group on GHGs on Monday. Based on analysis of delegate lists, meeting submissions and outcomes, it found business interests exert an uncommon degree of influence over decisions. This, campaigners warned, jeopardises the international climate goals adopted in Paris. Perhaps the most striking discovery is the extent to which business interests infiltrate national delegations. Researchers found 31 out of 100 member states at the last IMO environmental committee meeting brought representatives from business. Cosco and Vale are regular advisers to China and Brazil respectively, with the opportunity to advance their agenda in multiple subcommittees. “The IMO appears the only UN agency to allow such extensive corporate representation in the policy making process,” the report said. (Climate Home)
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