CP Daily: Tuesday September 11, 2018

Published 09:09 on September 12, 2018  /  Last updated at 09:27 on September 12, 2018  /  Newsletter  /  No Comments

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

**Carbon Pulse is attending the Global Climate Action Summit (GCAS) in San Francisco this week. As such, our daily newsletter may be sent out later than normal to ensure it contains all of the day’s news**

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TOP STORY

GCAS: California’s Brown pitches broader carbon pricing cooperation, slams Trump US methane policy

California Governor Jerry Brown publicly ridiculed a Trump administration proposal that could ease regulations on methane emissions leaks in the US, while simultaneously calling on the expansion of carbon pricing mechanisms to other areas of the world.

AMERICAS

GCAS: California working out final elements of Ontario WCI exit, not seeking reimbursement for stray allowances

California and Ontario officials are continuing to negotiate the financial costs associated with the Canadian province’s decision to exit the Western Climate Initiative (WCI) but reimbursement costs are not part of that discussion, Air Resources Board (ARB) Chairwoman Mary Nichols told Carbon Pulse.

Environmental groups sue Ontario over cancellation of cap-and-trade programme

A coalition of environmental groups is suing the Ontario Progressive Conservative (PC) government for cancelling the province’s cap-and-trade programme without public consultation.

Oregon cap-and-trade programme predicted to be approved in 2019

Oregon lawmakers are likely to approve legislation in 2019 that would enable the US state to create a cap-and-trade market to eventually link with the WCI programme, several regulatory sources said.

GCAS: Offset developer Bluesource announces new investment from GEF Capital Partners

Offset developer Bluesource has secured an undisclosed investment from private equity firm GEF Capital Partners to help further expand its services in the North America market, the two companies announced Tuesday.

EMEA

‘Unclear’ rules leave traders guessing on what triggers EU ETS emergency supply handbrake

EU carbon traders are mired in doubt about when regulators could meet to discuss market intervention, even as soaring EUA prices close in on a likely trigger point.

EU Market: EUAs sink back from 10-year high as market takes breather

EU carbon prices shed more than a euro on Tuesday, giving back over half of the previous session’s massive gains that had seen prices hit a fresh decade-high €25.79.

Analysts eye €30-50 mark for EUAs before prices turn south

European carbon prices could reach €30-50 by 2021 as companies hoard units, but prices may fall sharply once those firms start selling, analysts said.

ASIA PACIFIC

South Korea orders Samsung to pull failed CDM project

The South Korean government has ordered Samsung Electronics to withdraw a CDM project that originally aimed at generating nearly 770,000 carbon credits per year over a decade.

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BITE-SIZED UPDATES FROM AROUND THE WORLD

Coal cancelling – RWE is likely to cancel one of Germany’s two last proposed coal-fired power plant projects, despite an ongoing approvals process, an executive said. The proposed lignite-fired Niederaussem L project is part of a renewal programme to replace ageing assets. The only other proposed new project is a hard coal-fired Stade unit of Dow Chemicals, though Uniper’s long-delayed Datteln 4 project may be the final unit should it come online as planned in 2020. (Montel)

Automating MRV – Carbon project developer South Pole has teamed with software developer ixo Foundation, and certifier Gold Standard to develop a blockchain application to allow real-time tracking of GHG inventories and issuance of carbon credits. A solar power plant in Thailand owned by Siam Solar Energy will serve as a testing ground in a move intended to cut MRV costs to a tenth of current project. (Medium)

And finally… Beer heritage horror – Climate change is putting one of the world’s oldest beer varieties at risk, according to a joint project between climate scientists Mark and Asa Stone, beer research site Lambic.info and brewery Cantillon. It found temperatures in Brussels and the Pajottenland region south-west of the Belgian capital has raised doubts over the future of the sour lambic beer produced exclusively in the region. (The Guardian)

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

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