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OUR TOP NEWS:
The German government has opted to idle several old coal-fired power plants to meet a shortfall towards its 2020 emission target, rejecting its original plan to instead force them to buy more EUAs for exceeding emission levels.
Security measures brought in to protect the EU ETS have helped protect the market from abuse, but more improvements are needed to increase confidence amongst participants and investors, and to safeguard billions of euros in trade, EU auditors said.
A lack of willing sellers have pushed prices in the over-supplied Tianjin ETS up by 36% in the past week, forcing short firms to dip into the more expensive offset market to find the supply they need.
Environment Minister Greg Hunt on Thursday stressed the similarities between Australia’s and the US’ emission trajectories, after a government advisory body said Australia should increase its current effort and target a 30% cut in greenhouse gas emissions by 2025 compared to 2005 levels.
Norway’s has contracted to buy an estimated 7.6 million CERs from five CDM projects in Brazil and South Africa, in a second tender held by the country in its effort to prevent the dismantling of GHG-cutting installations in developing nations.
EU carbon prices slipped 0.5% on Thursday to give back the previous session’s gains as the German government agreed on a scaled-down plan to cut coal-fired power plant use that would not force some utilities to buy extra EUAs as previously proposed.
The state of Oklahoma on Wednesday filed a fresh lawsuit against the EPA over its plan to curb carbon emissions from power plants, arguing it is bureaucratic overreach and causing irreparable harm.
Bite-sized updates from around the world:
Canada’s Carbon Emissions Rules Sparks Hopes For Keystone – TransCanada Corp. has written to U.S. Secretary of State John Kerry arguing that new Canadian rules on emissions should persuade him to approve the construction of the much-delayed Keystone XL pipeline. (OilPrice)
India won’t peak emissions in climate pledge, says govt – Country won’t buckle to pressure to state when CO2 emissions will fall, environment minister Javadekar says. (RTCC)
Marijuana-growing spikes Denver electric demand, challenges clean-power plan – Surging electricity consumption by Colorado’s booming marijuana industry is sabotaging Denver’s push to use less energy — just as the White House perfects a Clean Power Plan to cut carbon pollution. (Denver Post)
Vatican ‘may’ consider divestment from fossil fuels, despite pope’s call to arms – Activist Naomi Klein, who is in an ‘unlikely alliance’ with Vatican on climate change, says she believes a possible divestment policy is under discussion. (Guardian)
The US Environmental Protection Agency has ratcheted up the pressure on ICAO’s commercial aircraft carbon-dioxide emissions negotiations, Air Transport World writes in this editorial.
The Compact of States and Regions, the only global platform to record greenhouse gas emissions reduction targets and inventory data from sub-national governments, has today announced that 20 governments, representing over 220 million people and $8.3 trillion GDP, have committed to a series of ambitious targets to reduce carbon emissions. (Press release)
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