CP Daily: Monday January 15, 2018

Published 01:12 on January 16, 2018  /  Last updated at 01:13 on January 16, 2018  /  Daily Newsletter  /  No Comments

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

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TOP STORY

Canadian government unveils draft legislation for federal carbon pricing plan

The Canadian federal government on Monday released draft legislation supporting its nationwide carbon pricing system, revealing more details surrounding proposal and opening it up for public consultation.

EMEA

EU ETS New Entrants’ Reserve allocations slow in H2 2017

Allocations of carbon allowances to new and expanding companies in the EU ETS slowed again in the second half of 2017, European Commission figures show.

EU Market: EUAs dip as mild weather, increased auction volumes weigh

EU carbon prices dipped in a quiet, rangebound session on Monday, as observers gave a bearish outlook for the week ahead.

ICE releases UK’s 2018 EUA auction calendar

London-based exchange operator ICE on Monday published the UK 2018 EUA auction calendar, with the fortnightly sales due to kick off on Feb. 7.

ASIA PACIFIC

Australia offset issuance booms, but little left for secondary market

Australia has issued nearly 1.7 million carbon credits over the past few weeks with the vast majority going to projects under government contract, leaving little fresh supply for the secondary market.

VOLUNTARY MARKET

Gold Standard adds voluntary project tool to measure gender equality progress

Non-profit certifier Gold Standard has begun to offer investors a way to measure gender equality progress in climate protection projects in the developing world, a part of its effort to broaden interest in funding development across poorer countries.

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BITE-SIZED UPDATES FROM AROUND THE WORLD

Cost competing – New onshore wind and solar energy projects are set to deliver electricity more cheaply than fossil fuels within two years, according to analysis from the International Renewable Energy Agency (IRENA). It expects renewables will cost between $0.03-0.10/kWh by 2020, while the current cost spectrum for fossil fuel power generation ranges from $0.05-0.17. The report also notes that since 2010, the cost of generating power from onshore wind has slid by a quarter, while solar PV electricity costs have fallen by 73%. (AFP)

Cash for clean – The European Commission has opened a consultation seeking views on how how the post-2020 EU ETS Innovation Fund should be designed to best help EU heavy industry decarbonise. Its scope will be extended beyond the power sector to industrial sectors, with its initial EUA inventory coming from free allocation and auction pots set at 400 million. The consultation runs through Apr. 10.

Up for sale – The City of Lawton, Oklahoma is offering for sale an undisclosed number of Climate Action Reserve carbon credits (CRTs) from a landfill gas project. Bidding will start at 1400 local time on Jan. 30. More details can be found here, including how to register interest or request the bid plans.

Brux speak – Brokers Vertis are holding an EU ETS Workshop in Brussels, Jan. 24 from 2-6pm, including guest speaker ETS expert official Yue Dong of the French government who will cover Phase 4 reforms.

Forest carbon conference, eh! – The Nova Scotia Landowners and Forest Fibre Producers Association (NSLFFPA) and Cape Breton Privateland Partnership (CBPP) are organizing a Mar. 7-8 event that will explore how woodlot owners and forest operators may be able to use the sale of carbon offset credits to help finance improved forest management. The conference is open to woodlot owners, contractors, and anyone with an interest developing carbon markets to influence forest management in Canada’s Maritime provinces.

And finally… Carbon, pacified – A new paper published in the journal Economy and Society scrutinizes how greenhouse gases are ‘pacified’ so that they can become tradable in the carbon markets, arguing that the diverse modes of carbon accounting and, in particular, carbon measurement – the most basic step – are overlooked and undertheorized. It goes on to say that even measurement standards at coal-fired power plants – one of the most ‘cooperative’ types carbon – face significant uncertainties that pose challenges for the marketization of carbon emissions. “While human actors work to cope with these uncertainties, the contours of the market are ultimately constrained by carbon’s materiality.”

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