Presenting CP Daily, Carbon Pulse’s daily newsletter. It’s a free daily summary of our top news plus bite-sized updates from around the world.
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OUR TOP NEWS:
The impact assessment of the EU ETS post-2020 reform proposal has been signed off by the European Commission’s review board, EU climate chief Miguel Arias Canete told Politico, a procedural step that improves the chances the bill will be published on July 15.
California regulators will next week decide whether to approve offsets from rice growing projects in a move experts say could pave the way for a wave of other agriculture initiatives to be allowed under the state’s cap-and-trade program.
All but one emitter in the Guangdong ETS had surrendered allowances to cover for their 2014 emissions by Friday , meaning China’s biggest carbon market avoided a repeat of last year when the compliance deadline had to be pushed back as dozens of manufacturers threatened not to participate.
European carbon prices dipped in extremely heavy trade on Friday to post a weekly 2.5% fall, with much of today’s volumes done on the EU Allowance time spreads.
Spot NZUs settled at NZ$6.75 ($4.67) on Friday after a rush of demand drove the price up earlier in the week to NZ$7.10, their highest levels in three years.
The US announced on Friday plans to reduce 1 billion tonnes of CO2 emissions from trucks and buses by setting deeper fuel efficiency standards for new models.
Closing prices, trading ranges and volumes for China’s regional pilot carbon markets this week.
Bite-sized updates from around the world:
Brussels think tank CEPS has released several papers attempting to clear the fog around what’s in store for markets under this year’s UN climate deal in Paris and ‘flexibilities’ under the EU’s upcoming post-2020 non-ETS proposal. CEPS is hosting a one-day event in Brussels on June 29, discussing both the ETS and non-ETS post-2020 proposals.
France optimistic GOP will support climate change deal – France is more optimistic that Republicans will come around on the issue of climate change than the president seems to be these days. (Washington Examiner)
U.K. Coal Rail Shipments Plunge as Carbon Tax Damps Power Profit – U.K. coal shipments by rail to power stations fell to the lowest in at least two years after the government almost doubled a tax on the fuel. (Bloomberg)
The US EPA’s recent finding on aviation emissions should pave the way for US-EU cooperation to ensure an ambitious global plane emission standard at the UN’s ICAO, writes Bill Hemmings of green group T&E in BusinessGreen.
REN21 Report – 2014 was a record growth year for renewables, accounting for 59% of net additions to world power capacity, according to an annual progress report from REN21, a UNEP-led stakeholder coalition.
Never Mind the Pope, Australia Plans Czar to Police Windfarms – A day after Pope Francis urged world leaders to cut fossil-fuel emissions, Australia outlined plans to appoint a commissioner to crack down on windfarms. (Bloomberg)
The Coalition is engaging in double talk on climate policy – it has no other option – The Abbott government is paying lip service to the renewable energy industry because it knows speaking its mind would be unpalatable to the public. (Guardian)
Saskatchewan can reduce GHG emissions by 33% in decade – Saskatchewan is a heavy fossil fuel user, with greenhouse gas emissions three times higher than the Canadian average, for our population size. (StarPhoenix)