CP Daily: Friday August 14, 2015

Published 17:13 on August 14, 2015  /  Last updated at 22:52 on August 14, 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:

Shanghai prepares ETS back-up plan to bridge gap to national carbon market

Shanghai is considering expanding the sectors covered by its emissions trading scheme and introducing futures trading, as the municipal government grapples with how to deal with a potential one-year delay of the national scheme.

EUAs extend 2.5-year high for 3rd straight day

EU carbon prices extended a 33-month high for the third consecutive session on Friday, beating the previous mark by three cents to reach €8.29.

California ETS admin delays keep almost €400m from consumer bill help

Administrative delays have kept California utilities from funneling almost $400 million in carbon allowance revenue back to consumers last year, regulators said.

US state attorneys general ask court to delay Obama climate plan

A group of 15 state attorneys general on Thursday asked a federal court to delay implementation of the Clean Power Plan until legal challenges against it had been dealt with, saying it would save states spending millions of dollars preparing for a plan that might never be implemented.

NZUs stuck in narrow range in muted trading

Spot NZUs closed at NZ$6.92 on Friday, a 2 cent gain on the previous week as market participants showed limited appetite for trading in a market that currently lacks direction.

 

Bite-sized updates from around the world:

Japan minister to urge more effective emission cut by utilities: Japan’s Environment Minister Yoshio Mochizuki was set Friday to ask Japan’s power sector to review its emissions intensity reduction plan, saying it is too lax to help Japan meet its 2030 target given that new coal plants are being planned. (NHK)

Djibouti submits INDC: The African nation’s emissions are projected to double between 2010 and 2030. Its INDC pledges to cut that by 40% or 1.8 million tonnes CO2e in 2030, which it said will cost $3.8 billion. This could be deepened by a further 20% with additional international finance, such as the GCF at a cost of $1.6 billion. It made no mention of market mechanisms. For details on all the INDCs to date, check out our INDC Tracker.

German bank to fund Greek lignite plant: German government-owned development bank KfW is to fund half the cash for a 660 MW lignite-fired power plant in Greece,  putting it at odds with the EU member state-owned EIB, which withdrew. (E&E)

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