CP Daily: Tuesday August 25, 2015

Published 17:35 on August 25, 2015  /  Last updated at 11:43 on August 26, 2015  /  Newsletter  /  No Comments

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

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:

Strong pound shielding UK emitters from rising EU carbon costs

European carbon prices have risen markedly so far this year, but up until recently UK-based emitters may not have felt it.

Chinese fertilizer firm uses CO2 permits to bag 100 mln yuan loan

Hubei’s biggest fertilizer producer on Tuesday borrowed 100 million yuan ($15.6m) from the Export-Import Bank of China using CO2 permits as collateral, according to state media.

 

EU carbon firms on solid auction, energy price rebound

European carbon prices rose on Tuesday on a strong EU auction and as energy and equity markets rebounded following heavy losses on Monday.

 

ICE waives fees for spot leg of EUA time spreads

Market operator ICE Futures Europe has waived fees for participants trading its daily EUA futures if making up part of a time spread, in an effort to attract activity to its spot contract.

 

Voluntary market data from CTX as of August 21, 2015

Below is a table of Verified Emission Reduction (VER) prices and offered volumes, based on voluntary market data from Carbon Trade Exchange.

 

Bite-sized updates from around the world:

India won’t change climate policy – India will continue to ask developed countries to meet their climate finance and technology obligations, and will not alter its climate change negotiation strategy, Environment Minister Prakash Javadekar said, dismissing a proposal from the government’s chief economic advisor to shift alliances and focus more on mitigation. (Business Standard)

China lawmakers discuss new pollution bill, coal cap clause expected – Chinese legislators are considering a new air pollution law that could give the state new powers to punish negligent local authorities and industrial enterprises and provide a legal mandate to impose caps on coal consumption. (Reuters)

Barack Obama singles out Koch brothers over fossil fuel lobbying – US president says conservative politicians and businesspeople are ‘standing in the way of the future’ by opposing his clean energy measures. (Guardian)

New Zealand has published a list showing allocation of NZUs to emitters for 2014. New Zealand Steel Development Ltd received the most, getting 1,073,000 allowances for free, around a fifth of the total.

Separately, a veteran economist who helped set up the NZETS is arguing that industry does not do as well out of free allocations of greenhouse gas credits as is commonly believed. (Radio New Zealand)

And finally… Bloomberg’s take on why German power prices keep falling. (Hint: it’s not because of tumbling crude oil)

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

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