CP Daily: Friday July 10, 2015

Published 18:44 on July 10, 2015  /  Last updated at 01:11 on July 29, 2015  /  Newsletter  /  No Comments

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

**Check out our new voluntary market data supplied by Carbon Trade Exchange**

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OUR TOP NEWS:

One in five Hubei emitters misses ETS compliance deadline

A fifth of emitters failed to meet Friday’s compliance deadline in the Hubei carbon market, data from the local emissions exchange showed, prompting traders to speculate that the government would informally allow participants another week to meet their targets.

 

Voluntary market data from CTX for week ending July 10, 2015

Offered prices and volumes for voluntary carbon credits (VERs), based on data from Carbon Trade Exchange.

 

22 sub-national governments sign climate pact, support carbon pricing

Governments from 22 states and regions across the Americas on Thursday signed a climate action statement that included backing GHG targets and supporting carbon markets.

 

Stronger euro pushes carbon to 2.4% weekly gain for EU carbon prices

European carbon notched a weekly gain of 2.4% as allowance prices were boosted by a stronger euro on Friday, which rose along with wider financial markets after Greece submitted new proposals to tackle its crippling debt.

 

EU ETS drives CO2 cuts despite low price -report

Europe’s carbon market has spurred companies to cut their emissions despite relatively low carbon prices, acccording to a report published Friday based on interviews with several major corporate emitters.

 

NZUs climb back above NZ$7 as interest holds firm

Spot NZUs finished the week on a high, moving up NZ 25 cents on the day to close at NZ$7.05 ($4.76), up 2.6% on last week, despite a largely indifferent reaction to the INDC.

 

Morgan Stanley’s emissions portfolio part of Shell deal -source

A portion of Morgan Stanley’s emissions portfolio will be sold to Royal Dutch Shell as part of the oil major’s deal to buy the US investment bank’s European natural gas and power trading books, a source with knowledge of the transaction told Carbon Pulse.

 

Westpac sustainability chief to be new IGCC CEO

Australian bank Westpac’s head of sustainability will become the new CEO of the Investor Group on Climate Change, the group said Friday.

 

Chinese pilot market data for week ending July 10, 2015

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

 

Bite-sized updates from around the world:

The UN-led climate talks are a charade and cap-and-trade schemes are doomed to failure, Nobel laureate Joseph Stiglitz tells Bloomberg. Instead, governments should agree on a global carbon tax, he said.

White House opens doors to eleventh-hour pleas on Clean Power Plan – Multiple state environmental regulators will meet Tuesday with senior Obama administration staff in an attempt to shape the final version of the forthcoming U.S. EPA rule to curb carbon emissions from power plants. (EnergyWire)

GOP senators vow to block U.S. from complying with global climate deal – The Senate’s leading climate change skeptic said yesterday he does not believe Congress can prevent an international global warming accord but insisted that the United States will never live up to it. (ClimateWire)

Chris Christie Not ‘Telling It Like It Is’ on Climate Change – “Real. Honest. Direct. Tell It Like It Is.” Those were the words on a banner at a recent campaign event by New Jersey Governor Chris Christie. Christie is one of the latest entrants in the crowded 2016 presidential field, and political observers say that he’s trying to distinguish himself by telling voters the truth even when it’s tough to hear. The trouble is that Christie doesn’t seem willing to tell the truth when it comes to climate action, clean energy, and the environment. (Huffington Post)

Climate denial linked to conspiratorial thinking in new study – A new study has examined the comments on climate science-denying blogs and found strong evidence of widespread conspiratorial thinking. The study looks at the comments made in response to a previous paper linking science denial and conspiracy theories. (Guardian)

New Zealand can do more to cut emissions – here’s how: Climate Change Minister Tim Groser’s suggestion that New Zealand can do little to cut emissions further in the electricity sector is not true, Ralph Chapman, James Renwick and Ralph Sims argue in this op-ed. (RTCC)

 

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