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