CP Daily: Wednesday December 20, 2017

Published 20:19 on December 20, 2017  /  Last updated at 20:19 on December 20, 2017  /  Newsletters  /  No Comments

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

CP Daily will not be published Dec. 23-Jan. 1. Carbon Pulse will file stories and send out CP Alerts on merit during that period. Regular coverage will resume Jan. 2.

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TOP STORY

Real trading in China ETS unlikely before 2020, government plan shows

Actual allowance trading between power generators in China’s national emissions trading scheme is unlikely to start before 2020, while other sectors could be brought into the market even later than that, according to the government’s scheme design plan published Wednesday.

EMEA

Abrupt UK exit from EU ETS less likely after Brussels backs transitional Brexit period ending in 2020

The EU on Wednesday said it supports a transitional Brexit period that ends on Dec. 31, 2020, greatly improving the odds that the UK will remain in the EU ETS until the end of the current trading phase.

EU Market: EUA rally continues as prices hit 3-week high on lack of fresh supply

The rally in European carbon continued for a fifth day on Wednesday, as prices hit a three-week high amid the end-of-year dearth in fresh auction supply.

AMERICAS

Canadian govt sets Sep. 2018 deadline for provincial carbon price plan submissions

The Canadian federal government on Wednesday set a Sep. 1, 2018 deadline for provinces and territories to outline their carbon pricing plans.

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BITE-SIZED UPDATES FROM AROUND THE WORLD

Big steps – The share of renewables in German electricity generation grew from to a record 33% this year from 29% in 2016, according to preliminary calculations by the Association of Energy and Water Industries (BDEW). “The gap between coal and renewables in Germany’s power production fell from 11 to under 4 percentage points in just one year”, BDEW said, stressing that the country’s power sector was “decarbonising itself with big steps”. According to the association’s calculations, the share of coal in Germany’s power generation mix fell from 40.3% to 37%. As a share of gross electricity consumed, renewables rose to more than 36%, as Germany is a net power exporter. BDEW added that Germany’s power sector was on track to meet its contribution to the country’s 2020 emissions reduction target, while the transport sector “unfortunately makes no appropriate contribution” and would be “the main culprit” if the country as a whole failed the goal to cut 1990 levels by 40%. (Clean Energy Wire)

Nice gesture – France’s parliament passed legislation on Tuesday requiring all oil and gas exploration and production on French territories to end by 2040, the first time any country has taken such a step. The bill, presented to cabinet in September, bans the renewal of any existing concessions beyond that date. New exploration permits will no longer be granted from now. The decision is largely symbolic because France produces only about six million barrels of hydrocarbons a year, about 1% of its consumption. It will continue to import and refine oil. (Reuters)

Emissions up – South Korea’s greenhouse gas emissions rose 0.2% in 2015 to reach 690.2 MtCO2e, the government said Wednesday. The rise was attributed to the year’s falling oil prices, which boosted consumption of related products. However, government policies such as the ETS that was launched that year were credited for the carbon intensity of Korea’s economy dropped as GDP growth hit 2.8% in 2015. (Yonhap)

You can do it! – India can meet and even exceed its climate targets without damaging its economy, according to a new World Resources Institute report. The study pointed at five policies – including the so-called PAT energy efficiency trading scheme – as pathways for the country to meet its goals at low cost, according to LiveMint.

Not so tasty after all – Earlier this month, several publications celebrated a new study that highlights the impacts of climate change on cocoa, stating global warming might make chocolate taste better. Sadly, it’s not true. According to NPR, the lead researcher of the study stresses “we did not … show that climate change may offer opportunities to produce chocolate with a better taste.” Instead, what they found was evidence that climate change impacts the production of fat and minerals in cacao that, in turn, influence both nutritional value and flavour.

And finally… Pay up, comrades – A climate change modeller who bet two Russian solar physicists $10,000 that the world would get warmer appears to have easily won the 2005 wager with less than two weeks to go. British scientist James Annan says he is confident that he has won his bet with the Russian pair Galina Mashnich and Vladimir Bashkirtsev. Agreed 12 years ago, Annan bet the Russians that the six years between 2012 and 2017 would be warmer than the six years between 1998 and 2003. Annan was sure that human emissions of CO2, mainly from fossil fuel burning, would see temperatures climb, while the two Russian scientists looked at forecasts of a drop in the amount of energy coming from the sun and put their money on this keeping temperatures down. (DeSmogBlog)

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