Presenting CP Daily, Carbon Pulse’s daily newsletter. It’s a free summary of our top news plus bite-sized updates from around the world. Subscribe here
OUR TOP NEWS:
Shenzhen’s carbon price plunged to 28.87 yuan on Monday, the lowest level since the market opened in June 2013, as individual traders exit the scheme following last week’s compliance, observers said.
International pressure on Australia to step up efforts to combat climate change is set to intensify, the Climate Council said, as fresh data showed the nation’s electricity-related GHG output has increased 4.3% in the 12 months since the carbon tax was repealed.
More than 465,000 cancelled CERs are poised to find a new life in the Korean carbon market as offsets, offering a degree of respite for the supply-starved market, as the government works to simplify the scheme’s complicated offset rules.
European carbon slipped on Monday on the back of the Greek populace’s rejection of the terms of an international bailout offer, but prices held well above last week’s one-month low.
Germany’s new plan to curb its GHG emissions by 2020 will likely fall short, meaning Europe’s top emitter will require a supplemental policy that will likely be bearish for EU emissions prices, analysts said on Monday.
EU sources have dismissed the idea that the European Commission will prevent EU Allowances from being banked beyond Phase 4 (2021-2030), as reported by German newspaper Frankfurter Allgemeine Zeitung on Monday.
Job listings this week:
Energy Markets Analyst, Wood Mackenzie – Edinburgh/London
European power and carbon analyst, BNEF – London
Senior Green Finance Specialist, Global Green Growth Institute – London
Junior Climate Change Consultant, ICF International – Washington DC
Analyst – Emissions Trading Scheme, Environmental Protection Authority – Wellington, NZ
Lead Emissions Analyst, BP – London
Or click here to see all our job listings
Bite-sized updates from around the world:
The EU’s post-2020 reserve for new entrants to the carbon market is set to shrink under a plan the bloc’s regulator is considering, falling to an estimated 400 million tonnes in Phase 4 (2021-2030) from 772 million during this trading phase, according to Bloomberg New Energy Finance.
Koch Industries lobbying Europe on environment, energy, and free trade – The largest privately owned energy company in the United States has spent at least €550,000 on lobbying European policymakers on the environment, energy markets and EU free trade agreement negotiations. (DeSmog Blog)
Republican climate advocate makes big 2016 campaign gift – A Republican entrepreneur seeking to push his party to fight climate change and support clean energy said on Sunday he has given his first big campaign gift to Senator Kelly Ayotte of New Hampshire. (Reuters)
Green Pressure Applied Against Christie on Cap and Trade as He Enters Presidential Fray – With Governor Chris Christie of New Jersey now officially entering the presidential fray, his decision to withdraw from the RGGI carbon market is expected to come under increased scrutiny and criticism. (The Blaze)
A court ruling forcing the Netherlands to deepen its 2020 emission goal provides a great opportunity to help developing nations via buying international carbon credits, write Adriaan Korthius of Climate Focus and independent consultant Jos Cozijnsen. (Financieele Dagblad – in Dutch). NOTE: the Netherlands would need to buy a minimum of around 13m credits to meet the goal, Carbon Pulse calculations show.
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