CP Daily: Thursday July 4, 2019

Published 06:09 on July 5, 2019  /  Last updated at 06:09 on July 5, 2019  /  Newsletter  /  No Comments

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

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TOP STORY

ANALYSIS: German lignite power closures a ‘new reality’ as carbon price bites

A major German lignite power generator has closed and experts say others face a bleak future as higher carbon prices contribute to a poor financial outlook for the country’s big-emitting units, which have until now proved resistant to climate policy.

ASIA PACIFIC

Hang Seng Electronics wins contract to build China carbon trading system

Electronics firm Hang Seng has been awarded the contract to build the trading system for China’s national CO2 emissions trading scheme, putting the world’s biggest emitter on track to launching its carbon market in the second half of next year.

NZ farmers push back against zero carbon bill

New Zealand’s main farming lobby has rejected the government’s target for methane emission cuts from livestock, saying it would disadvantage the nation’s food production industry.

EMEA

Rising EU carbon prices warrant re-think on allocation rules, tariffs -consultants

EU carbon prices could rise to €33 by the middle of next decade and to €50 by 2030, consultants have forecast, bringing big ramifications for the bloc’s industry that they said could warrant policy changes including modifying EUA allocation rules or implementing border adjustments.

EU low-cost airline emissions climb in June, teeing up big ETS bills for 2019

Carbon emissions from two of Europe’s biggest low-cost airlines rose month-on-month in June, putting both on track to record higher CO2 output and face costlier EU ETS bills this year.

EU Market: EUAs sink below €26 as late June rally unwinds

European carbon prices sank below €26 on Thursday on technical selling and after the daily auction posted a weak result for a second straight day.

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BITE-SIZED UPDATES FROM AROUND THE WORLD

Leaders lacking – Finland, Sweden, Portugal, France and Germany lack concrete measures to achieve their world leading climate goals, according to analysis by NGOs Carbon Market Watch and PlanUp of their draft National Energy and Climate Plans (NECPs) due to be finalised by year-end. (Euractiv)

Addressing Ursula – The European Commission’s nominated president, German defense minister Ursula von der Leyen, has no record of engagement on climate policy, having been put forward as an eleventh-hour compromise candidate not subject to public scrutiny or a debate. The doubled-in-number intake of Green MEPs are keen to grill her climate credentials ahead of the European Parliament’s ratification of her nomination due mid month. (Climate Home)

Taking seats – The European Parliament has appointed the members to its cross-party environment (ENVI) and industry/energy (ITRE) committees. Both bodies will be responsible for delivering the assembly’s position on climate policy and ETS reforms over the 2019-2024 term. The 76-strong ENVI committee – the largest in the parliament – features several climate policy veterans including Peter Liese, Jutte Guteland, and Bas Eickhout, as well as a few members of the UK’s Brexit Party. It does not feature Britain’s Julie Girling, responsible for steering key post-2020 ETS reforms to a close in 2018 but who declined to stand for re-election to the new parliament amid great uncertainty over the future of the UK in the EU.

Chief of planet – UN climate chief Patricia Espinosa has been appointed for a second three-year term. The Mexican career diplomat steers the UN climate talks expected to complete the Paris Agreement rulebook at year-end talks in Santiago with an agreement on the Article 6 portion of the pact covering international emissions trade.

And finally… A very real question – “Climate change is a very real question for dance music, simply because it’s a question for everyone … It’s a good moment to start asking: what can we do? As a global network of people with a shared interest – from millionaire DJs to underground promoters, weekend ravers and every single RA reader – do we have a collective role to play in the effort to prevent the unthinkable? Dance music has an out-sized carbon footprint.” The answer? Dutch DJ Job Sifre is currently working on a carbon offsetting scheme specifically for DJs, booking agency POLY is preparing to implement a scheme for its own artists, while Berlin-based DJ Darwin, whose clubnight Reef also raises money for coral reef preservation, is launching Clean Scene, an environmental project that includes a carbon calculator for DJs and agencies.”With the emergence of coalitions like DJs For Climate Action and adaptation projects like FEAT and the circular economy of Amsterdam’s DGTL festival, we can start to ask what ourselves: what comes next? The possibilities are endless.” (Resident Advisor)

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