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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:
The European Commission published its post-2020 ETS review proposal on Wednesday, after it was adopted at a morning meeting.
Key takeaways from, and selected reactions to, the post-2020 EU ETS reform proposals released today by the European Commission.
China’s thermal power generation, coal production and output in key energy-intensive industries all fell in the first six months of the year, the National Bureau of Statistics said Wednesday, paving the way for a drop in GHG emissions that is likely to increase the permit glut in the country’s oversupplied pilot carbon markets.
Australia’s main opposition party will bring a promise to establish an emissions trading scheme to the next election, and is considering a link with international carbon markets, a leaked discussion paper showed Wednesday.
The UK government has fined a number of installations and aircraft operators a total £270,000 for various violations related to the EU ETS made over the past few years.
EEX is refocusing its emissions trading efforts after its secondary market volumes were halved in the first six months of 2015, the Germany energy bourse’s chief operating officer said on Wednesday during a press briefing in London.
Slovenia’s first emissions brokerage service was launched last week and has been cleared to trade on German bourse EEX, one of its founders told Carbon Pulse.
The Global Green Growth Institute has appointed a managing director at carbon finance firm C-Quest Capital as its new assistant director-general, to work under former UN climate chief Yvo de Boer.
Bite-sized updates from around the world:
EU carbon market reserve seen absorbing 85% of allowance glut by 2021 – An unprecedented overhaul of the European Union’s carbon market will probably remove 85 percent of a glut of permits that sent prices tumbling and eroded incentives to reduce emissions. (Bloomberg)
The EU ETS could cost the UK steel sector more than £300m a year by 2030 under the Commission’s new proposals, according to a new report from the industry. (edie.net)
German chemical companies have been increasing foreign investment at a rate nearly six times greater than domestic investment spending this year, partly due to high energy costs, according to a report by credit insurer Euler Hermes, a subsidiary of Allianz.
As the clock ticks down to the final version of what’s been called the most sweeping federal regulation of the nation’s electricity sector, states are lining up in opposite directions. Some – largely led by Democrats in the governor’s office – favor the EPA’s proposed Clean Power Plan. But a number of others – with Republican governors – are considering joining a lawsuit against EPA and may opt out of submitting statewide implementation plans to the agency. (Watchdog.org)
A large majority of US states (40) have decreased their electric sector CO2 emission rates from 2008 to 2013, a new report has found. These states reduced their rates in this five year period by an average of 18%.
Cap & trade shows its economic muscle in the northeast, $1.3 bln in 3 years – RGGI offers blueprint to all states as they begin to think about how they will comply with Clean Power Plan, study suggests. (InsideClimate News)
Hillary Clinton wants to run on climate, and she thinks Democrats should too – The 2016 Democratic front-runner did not shy away from the hot-button topic when she met with congressional Democrats. (National Journal)
Washington Gov. Jay Inslee blames GOP for climate failures – Washington Gov. Jay Inslee has gained national attention for rolling out some of the most ambitious climate initiatives in the country, signing pacts with other Western states and speaking at an international summit. But during the legislative session that ended recently, Inslee failed in his own state to pass bold carbon-reduction proposals, including the centerpiece cap-and-trade plan to charge emissions from oil refineries, power plants and fuel suppliers. (AP)
Iowa company to close country’s 200th coal plant – An Iowa utility will phase out coal at a handful of power plants in the state, the EPA and Department of Justice announced Wednesday, marking the 200th coal plant to close nationwide in the last five years. (The Hill)
Chevron’s US media strategy: write the headlines – Oil giant created its own local news outlet in 2014, determined to have its voice heard at home to key refinery. (RTCC)
Alberta endorses calls for pan-Canadian climate change action – The leader of the oil-rich Canadian province of Alberta is endorsing calls from her counterparts to strengthen action to fight climate change. (Reuters)
Solar, wind and other forms of renewable energy besides hydro-electric dams now supply more electricity than nuclear in Japan, China, India and five other major economies accounting for about half the world’s population, an atomic industry report shows. (Reuters)
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