CP Daily: Wednesday July 29, 2015

Published 18:46 on July 29, 2015  /  Last updated at 15:31 on August 25, 2015  /  Newsletter  /  No Comments

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

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OUR TOP NEWS:

Govt deal gives Australian landfill owners option to buy UN offsets

Australian landfill owners may enter the carbon market to potentially buy several million UN offsets as part of efforts to compensate for carbon tax costs they have passed on to customers, a move that may in turn boost the amount of AAUs the government can carry over from the first Kyoto commitment period.

EPA to delay clean power plan implementation by two years -media

The EPA is set to release the final rules of its Clean Power Plan next week, and will delay the start of the interim compliance period by two years to 2022 to give states more time to prepare, media reports Wednesday said.

RGGI power emissions down 5.2% below cap in 2014 -report

Power sector emissions fell 5.2% below the RGGI cap to 86.3 million tonnes in 2014 mainly due to increasing renewables generation and energy saving measures, a report said on Wednesday.

EUAs edge further above €8 to 3-day high on thin turnover

EU carbon prices rose slightly on Wednesday to briefly hit their highest this week, reaching €8.10 in a thinly traded and relatively stable session.

Banks urged to tighten lending rules to curb deforestation

Most banks are failing to ensure the agricultural commodities firms they lend money to are complying with forest protection laws, according to a UN-backed study of 30 financial institutions published on Wednesday.

Freepoint poaches London-based energy trader just weeks into new role

A London-based emissions and energy trader has joined Freepoint Commodities, sources told Carbon Pulse, just weeks after taking a new role at another trading firm.

 

Bite-sized updates from around the world:

Five ways to improve California’s cap-and-trade programme, writes consultant Mike Sandler: Make it simpler, more transparent, question how projects are funded, stop funding projects and return revenue to people. (Huffington Post)

The EU’s ETS reform plans might lead to a mass exodus of steel companies from Europe, with German steel executives calling the proposal “an extreme existential threat”. (Die Welt, in German)

If all governments implemented ambitious climate policies in nine sectors that already exist in some countries they could reduce emissions close to the levels needed to stay on track to hold global warming below 2C, according to a report into best climate practices by the NewClimate Institute, PBL Netherlands Environmental Assessment Agency and the International Institute for Applied Systems Analysis.

Carbon Brief provides a summary of all the elements of the latest UNFCC draft text towards a global climate deal.

Tiny Monaco today became the 50th UNFCCC party to submit an INDC, pledging to halve 1990 GHGs by 2030. To stay updated on countries’ climate pledges, check out our INDC Tracker

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

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