CP Daily: Friday June 26, 2015

Published 18:30 on June 26, 2015  /  Last updated at 01:13 on July 29, 2015  /  Newsletter  /  No Comments

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

**Carbon Pulse has launched its INDC Tracker. Click here to check it out**

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OUR TOP NEWS:

New York State aims to match California’s -40% 2030 GHG goal

The US state of New York on Thursday released its State Energy Plan, a “comprehensive roadmap” to help it achieve the most ambitious greenhouse gas (GHG) reduction targets in the country.

 

California allows first farming offsets, tightens forest rules

California regulators voted to allow offsets from rice farms and Alaskan forests to be used in the state’s carbon market on Thursday but developers fear any increase in future credit supply could be cancelled out by tighter rules imposed for all forest schemes.

 

CPP Roundup: Indiana gov. talks tough; SCOTUS Obamacare ruling to support CPP?

Presenting Carbon Pulse’s semi-regular CPP Roundup: a brief, bullet-pointed summary of this week’s happenings concerning the US’ proposed Clean Power Plan.

 

EU carbon up 1.5% for week but again fails to crack key resistance

European carbon prices shed 6 cents on Friday but still posted a 1.5% weekly gain after hitting a nine-day high but failing to break through a technical resistance level that has dogged bullish traders this month.

 

Kyoto 2 still short more than 100 national ratifications

Vietnam ratified the Kyoto Protocol’s Doha Amendment this week, but more than 100 nations must still follow suit before the treaty’s second commitment period enters into force.

 

China markets: Shenzhen to launch v2015 trading on July 1

Shenzhen has allocated CO2 permits for 2015 to ETS participants and trading in the new contract will commence on July 1, the China Emissions Exchange in Shenzhen announced.

 

Chinese pilot market data for week ending June 26, 2015

Closing prices, trading ranges and volumes for China’s regional pilot carbon markets this week.

 

NZUs edge lower as bull-run over for now

Spot NZUs fell 5 NZ cents over the week to close Friday at NZ$6.70 ($4.61) as traders reassessed the price level after the steep price hike earlier in the month.

 

China carbon trader to leave Singapore-based Ginga

Singapore-based Ginga’s chief trader in the Chinese carbon market is leaving the company at the end of the month, Carbon Pulse has learned.

 

Bite-sized updates from around the world:

On Monday, an EU-China summit in Brussels will include talks and an agreement on climate change. EU sources say China is also expected to announce their INDC on the same day. Check out our recent piece on what might be agree with regards to carbon markets.

Later that day in New York, environment ministers gather for talks hosted by the President of the UN General Assembly – one of a host of meetings ahead of the December UNFCCC Paris talks.

Germany has said it will on July 1 whether to force the country’s oldest coal plants to buy EU Allowances or to create a reserve of mothballed facilities, as a way of meeting its 2020 CO2 target shortfall. Check out our latest on this hot topic.

Brazil is not expected to set a target date to reach zero net deforestation at next week’s US-Brazilian presidential summit in Washington, but campaigners expect it to be part of Brazil’s INDC. (Reuters)

Thinking beyond a global carbon price – Countries have different economic and political conditions, and a carbon price alone cannot solve the climate change problem, so complementary policies are necessary, the World Bank’s Marianne Fay and Stephane Hallegatte argue in this op-ed. (The Economist)

A prominent Pakistani lawmaker has blamed the power plants in neighbouring India for fuelling the recent heatwave in Sindh province as the death toll has crossed 1,000. (International Business Times)

 

Got a tip?  Email us at news@carbon-pulse.com

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