CP Daily: Thursday January 25, 2018

Published 00:35 on January 26, 2018  /  Last updated at 00:04 on July 26, 2018  /  Newsletter  /  No Comments

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

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TOP STORY

UK wants to remain in EU ETS to 2020 to dodge compliance headaches -minister

The UK wants its companies to stay in the EU ETS to the end of 2020 as part of a Brexit implementation phase or, failing that, to smooth the compliance process for exiting British emitters, according to climate minister Claire Perry.

AMERICAS

Anti cap-and-trade Canadian provincial Conservative leaders resign following sexual misconduct allegations

The leaders of Ontario and Nova Scotia’s Progressive Conservative parties, both of whom oppose their respective province’s cap-and-trade schemes, have resigned following allegations of sexual misconduct and harassment.

Virginia senate committee rejects RGGI membership bill

A Virginia senate committee on Thursday shelved legislation that called for the state to formally join RGGI and hold allowance auctions.

NA Markets: Prices hold firm as WCI volume begins to lift ahead of auctions

North American carbon prices held steady this week as participants in both markets are hesitant at the start of new three-year compliance periods with auctions still weeks away.

US offset investor Climate Trust announces new co-leadership amid director departure

Oregon-based climate finance firm and project developer Climate Trust has promoted two directors to take on co-leadership roles following the departure of the firm’s executive director.

#WEF2018

Davos Digest: Macron gets minimal, but it’s Merkel that’s facing heat

French President Emmanuel Macron this week announced at the World Economic Forum in Switzerland that he will accelerate his country’s coal phaseout a year earlier than previously planned, while reiterating his call for an EU-wide minimum carbon price.

EMEA

EU Market: EUA rally pauses as prices soften in choppy trade

EU carbon fell in choppy trade on Thursday for the first time in almost two weeks to hit pause on a rally that had added as much as 23% to prices.

Energy trader joins RWE trading arm from Trianel

An emissions and energy trader at Germany-headquartered Trianel has joined the commodity flow desk at utility RWE’s trading division.

ASIA PACIFIC

Rio Tinto subsidiary biggest taker in latest Australian offset issuance

Australia’s Clean Energy Regulator issued nearly 300,000 carbon credits to seven projects this week, with a project operated by a subsidiary of mining major Rio Tinto earning the biggest share.

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BITE-SIZED UPDATES FROM AROUND THE WORLD

At least we were honest – Germany’s negotiating coalition parties – Chancellor Angela Merkel’s conservative CDU/CSU alliance and the Social Democrats (SPD) – have defended their decision to postpone the country’s 2020 goal of reducing GHGs by 40% by 2020 compared to 1990 levels, saying the move demonstrated honesty rather than inaction on climate protection. “The 2020 goal was not difficult to abandon as we knew it wouldn’t be possible to cut 90 million tonnes” within the next three years, CDU energy spokesperson Thomas Bareisse said during a debate at an energy industry conference by business daily Handelsblatt. “We were simply being honest,” he said, adding that the goal would still have been missed if the conservatives had succeeded in forming a coalition with the pro-business FDP and Greens. (Clean Energy Wire)

Clean and early – Eleven EU countries have already met their 2020 renewable energy goals ahead of schedule while the bloc as a whole has reached 17%, just shy of the overall target with two years to go, according to new data from Eurostat. The data shows that the share of energy from renewables reached 17% in 2016, meaning the share of the energy mix has doubled for solar, wind, hydropower et al since figures were first compiled in 2004 (8.5%). Sweden topped the charts with 53.8%, followed by Finland (38.7%) and Latvia (37.2%). The Netherlands, France and Ireland are performing the most poorly though, as they are the furthest away from their individual objectives. (EurActiv)

And finally… So blessed – US Department of Energy Secretary Rick Perry said that the US is “blessed” to provide fossil fuel to the rest of the world. Speaking at a panel on energy transformation at the World Economic Forum in Davos, Perry said countries like the US and Saudi Arabia helped give the world a “better quality of life or better opportunities.” “We’re blessed to be in counties with pretty substantial abilities to deliver to the people of the globe a better quality of life to those fossil fuels,” said Perry. He added, “I think when we have a bit of a surplus and a bit more feast right now than we do famine, I think that’s good for the globe.” Separately, in a TV interview Perry characterised the Trump administration’s energy agenda as a world-changing development that “is not just exporting energy, we’re exporting freedom.” (The Hill)

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