CP Daily: Wednesday June 24, 2015

Published 18:38 on June 24, 2015  /  Last updated at 18:58 on June 24, 2015  /  Newsletters

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

**Carbon Pulse is co-hosting a webinar tomorrow (Thurs June 25) to launch the report “The EU ETS in Context” by environmental group Sandbag. Join us at 11am UK time for a discussion on the extent to which the EU should be using the ETS to meet its climate goals. Click here to view the webinar. Please note that there may be a few minutes delay before the live broadcast starts.**


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Dutch court verdict on global warming opens door to further suits, offset buying

The Dutch government was on Tuesday ordered by a court to speed up its cutting of GHG emissions in a landmark verdict that could lead the country to buy more UN carbon credits and lead to similar lawsuits across the industrialised world.


German coal levy proposal off the table -media

A German government proposal to force the country’s oldest coal plants to buy EU Allowances if they exceed set emissions limits has been shelved, German media reported on Wednesday, citing unnamed government sources.


EU plans ten years more free CO2 permits as global prices ‘converge’

The EU intends to keep awarding its industry free ETS allowances all the way to 2030 as the rest of the world catches up to its carbon pricing standards.


EU carbon ends flat after strong auction as specs line up pre-MSR vote bets

European carbon ended unchanged on Wednesday after a strong UK auction result pushed EUAs up to retest Monday’s six-day high.


“Complex” EU ETS must be simplified to ease cost, admin burdens -Dutch agency

The EU ETS is unnecessarily complex and should be simplified to ease the excessive administrative and cost burdens faced by companies regulated by it, a Dutch government report released late on Tuesday said, as EU lawmakers prepare to reform the 10-year old scheme.


Obama threatens to veto bill aimed at stopping Clean Power Plan

President Barack Obama on Tuesday threatened to veto a Conservative bill that seeks to make it impossible for the EPA to implement its plan to curb carbon emissions from existing power plants.


Quebec outlines carbon market rule changes

The Quebec government on Tuesday proposed a number of changes to its cap-and-trade scheme, including lowering the threshold for including fuel distributors and allowing new offset project types.


Rating agencies underestimating climate risks, repeating mistakes that caused global credit crunch -report

Credit ratings agencies are underestimating the risks posed by climate change or failing to recognise altogether how it may impact companies, thereby repeating the mistakes that led to the recent global credit crisis, a report published Wednesday said.


European Commission’s top climate official staying put amid management reshuffle

Jos Delbeke, the European Commission’s top ranking climate official, is staying put amid a reshuffle of senior management at the bloc’s executive.


Bite-sized updates from around the world:

Check out WRI’s nifty new interactive infographic, which breaks down 2012 global GHG emissions first by country, and then by sector.

Schumer: Carbon tax doable with Democratic Senate, Hillary as president – Sen. Chuck Schumer said he thinks Congress could pass legislation to impose a fee on carbon emissions if Democrats win back the Senate and presidential frontrunner Hillary Clinton takes the White House in 2016. (Washington Examiner)

China puts $6 trillion price tag on its climate plan – It will cost China over $6.6 trillion (41 trillion yuan) to meet the greenhouse gas reduction goals it will lay out later this month in its strategy for United Nations climate negotiations, the country’s lead negotiator for the talks said Tuesday. (Reuters)

Alberta environment minister downplays expected climate announcement – Alberta is still consulting on its much-anticipated new climate strategy just days before a major announcement on it is expected. (Canadian Press)

Korea urged to set ambitious climate target – South Korea needs to step up its climate efforts after 2020, and should start talking about an absolute emissions cap rather than setting targets compared to BAU levels, according to the UK special representative for climate change at the Foreign Secretary Office. (Korea Herald)

Australia: Liberals cool on global climate deal – While Australia faces increasing pressure from the opposition and internationally to step up climate efforts, forces within the ruling Liberal party are leaning on Prime Minister Tony Abbott to not sign a binding climate deal in Paris at all. (ABC)

Australian Senate passes RET bill, cut to wind farms becomes law – Australia on Tuesday became the first developed country to cut its renewable energy target – adding to its honour of being the first to dismantle a carbon price – when the Senate passed legislation reducing the large scale target from 41,000GWh to 33,000GWh by 2020. (RenewEconomy)

Carbon offsets are an effective tool to combat climate change and not an indulgence as argued by Pope Francis, writes Molly Peters-Stanley in this op-ed. (Ecosystem Marketplace)

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