Presenting CP Daily, Carbon Pulse’s free newsletter. It’s a daily summary of our top news plus bite-sized updates from around the world. Subscribe here
OUR TOP NEWS:
China’s CO2 emissions over 2000-2013 may have been overestimated by as much as 10.7 billion tonnes, a new study published in Nature magazine found, implying China might be left room to emit more CO2 in the future under a global carbon budget.
EU carbon prices climbed to as high as €8.38 early on Wednesday, extending last week’s 33-month high by two cents after the UK’s auction cleared above market.
Rises in power hedging rates from RWE and E.ON appear to outweigh drops among other major utilities over H1 compared to the first half of 2014, according to company financial updates, which could mean the EU power sector may scale back its overall carbon buying over the rest of this year.
Emissions-reduction pledges made so far by some of the world’s top polluters fall short of what’s required to stave off dangerous climate change, a study released on Wednesday showed.
‘Why would you not follow a low carbon path?’, Citi concludes in a 132-page study finding that the incremental costs of doing so are limited and seem affordable, return on investment is acceptable and the likely avoided liabilities are enormous.
An increasing number of companies, organisations and governments are taking action which goes beyond what can be achieved using current UN and UNFCCC instruments. One such measure is the voluntary compensation of greenhouse gas emissions, usually based on offset projects in countries without international reduction commitments.
Danish utility Dong Energy reported a 6% y/y increase in EBITDA in H1, as its earnings were boosted by the settlement of a dispute over carbon allowances dating back to 2005, it said in first-half results.
Explosives firm Hanwha Corp. has cancelled 286,000 CERs in the UN registry with a view to converting them into offsets eligible in the Korean emissions trading scheme, a UN website showed.
Bite-sized updates from around the world:
Cracking differentiation at UN climate talks: Norway’s Fridtjof Nansen Institute has published a paper looking at how to approach the most thorny of thorny issues at Paris and beyond.