CP Daily: Tuesday June 30, 2015

Published 21:07 on June 30, 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.

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OUR TOP NEWS:

China pledges 60-65% cut in carbon intensity by 2030

China will cut the carbon intensity of its economy by 60-65% below 2005 levels by 2030, it said Tuesday in a submission to the UNFCCC.

 

South Korea vows to use international carbon market to meet steeper climate target

South Korea will target a cut in greenhouse gas emissions on 37% below business-as-usual in 2030, using the international carbon market to achieve nearly a third of the target, the government said Tuesday.

 

Brazil ramps up renewables targets with US, previews INDC forestry goal

The US and Brazil on Tuesday both agreed to increase the share of non-hydro renewables in their electricity generation mixes to 20% by 2030, while Brazil outlined some of its UN climate pledge.

 

Serbia, Iceland lean towards EU to meet UN climate pledges

Serbia submitted its INDC to the UN on Tuesday, pledging to cut its emissions 9.8% under 1990 levels by 2030 but allowing a rise of 15% above 2013 levels according to the nation’s latest data.

 

EU carbon climbs 1% as Greek contagion fears subside

EU carbon prices lifted on Tuesday after a strong auction result, shrugging off a surprise eleventh-hour move from debt-riddled Greece to escape a default.

 

EU, China roll forward CO2 market ties, go quiet on aviation and CCS

The EU and China agreed to continue their cooperation on carbon markets as part of a wider bilateral climate agreement late on Monday, but failed to match the G7 on long term action and were weak on aviation.

 

GCF says dismisses most cash requests from first batch of climate project proposals

Just a fraction of 120 emissions-cutting and climate adaptation project plans proposed by poorer nations “look promising”, the head of the Green Climate Fund said on Monday after reviewing the submissions, adding that the bulk of the first batch of initiatives, which are estimated to cost a total $6 billion, require significant work.

 

UK must deepen CO2 cutting policies, says adviser

The UK must deepen its carbon-cutting policies over the next ten years to ensure it can meet longer term binding emission goals more cheaply, a government advisory body said Tuesday.

 

Higher CO2 price would help EU utilities, but remains a pipe dream -Moody’s

European utilities would benefit financially from higher EU carbon prices, but they are unlikely to rise much above €7 through 2020, ratings agency Moody’s said on Tuesday.

 

Bite-sized updates from around the world:

Supreme Court Decision Unlikely to Stall the Shift Away from Coal Plants – As market forces chip away at the coal industry, many plants are being repurposed as data centers, museums, and mixed-use neighborhoods. (MIT Technology Review)

100 Billion Reasons a Global Climate-Change Deal May Fall Apart – The richest nations still haven’t convinced the rest of the world they’re willing to pay the tab to help curb climate change, diplomats warned at a United Nations conference Monday. (Bloomberg)

Australia’s somewhat surprising new alliance, the Climate Roundtable, could unite old foes and end the decade-long deadlock over climate policy, argues Michael Howes of Griffith University in this op-ed. (The Conversation)

As a growing economic power but lagging behind China, India should not set targets for carbon emissions, but rather adopt goals that reflect the differences in the two countries’ situations. (Business Standard)

Ex-UK PM candidate and former Labour leader Ed Miliband is fighting for a further £12m in aid to keep Hatfield coal mine open one more year, after the government’s carbon price floor led utilities to buy foreign fuel, forcing the mine to close 14 months earlier than planned. (Sheffield Star)

The accelerated closure of coal and other fossil fuel infrastructure means governments and companies must plan to ensure any new global climate change deal is fair for all those impacted, a top trade unionist said. (Thomson Reuters Foundation)

Greenhouse gas emissions from B.C. forests on dramatic rise – Forests turn from carbon sink to carbon emitter because of pine beetle epidemic. (Vancouver Sun)

 

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