CP Daily: Tuesday September 1, 2015

Published 21:59 on September 1, 2015  /  Last updated at 23:05 on September 1, 2015  /  Newsletter  /  No Comments

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

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OUR TOP NEWS:

Polish utility PGE posts $2.4 bln writedown on lignite assets due to rising CO2 prices

Polish state-owned utility PGE Group on Tuesday announced it was writing down the value of its lignite generation assets due in part to rising European carbon prices and more restrictive EU climate policy.

 

UN chief to gather world leaders for closed-door climate talks -Bloomberg

UN Secretary-General Ban Ki-moon plans to invite around 40 world leaders including to a closed-door meeting next month to help speed progress towards a global climate pact in Paris in December, Bloomberg reported on Monday, citing three anonymous sources.

 

Dutch govt to appeal emission verdict, but will take additional steps

The Dutch government plans to appeal a district court ruling ordering it to set a deeper 2020 emission reduction goal but at the same time is prepared to take additional measures, it said on Tuesday.

 

New approvals lend support to China offset market

China’s offset market got a boost on Tuesday as nearly 40% of a new batch of approved projects are set to generate CCERs eligible for use in the nation’s seven pilot emissions trading schemes.

 

EU carbon slips to 3-week low under €8 as full-sized auctions resume

European carbon prices broke below €8 on Tuesday after the resumption of full-sized government allowance auctions, but managed to close above the psychologically important level.

 

China’s Chongqing beats carbon intensity target a year early

China’s Chongqing cut its carbon emissions per unit of GDP by 20% from 2010 to 2014, beating its target laid out in the current five-year plan to slash carbon intensity 17% by 2015, local media reported.

 

Michigan to comply with CCP, defying state attorney -media

Michigan plans to meet Clean Power Plan (CPP) emission targets and deadlines and will not follow Attorney General Bill Schuette if he joins a multi-state lawsuit to block the new rules, the Detroit Free Press reported on Tuesday, citing state officials.

 

Two Brits held in Dubai since 2010 over EU ETS tax fraud probe -media

Two British men have been forced to remain in Dubai for the past five years due to an ongoing investigation into VAT fraud in the EU carbon market, local media reported on Tuesday.

 

Bite-sized updates from around the world:

US Republican presidential candidates say climate change isn’t a foreign policy issue – In two separate foreign policy addresses in South Carolina on Friday, Republican presidential candidates Scott Walker and Marco Rubio both criticized Democrats for addressing climate change as a foreign policy issue. (ThinkProgress)

EPA climate rule could take two more months to become official – The Department of Justice, working for the EPA told a federal appeals court Monday that the regulation’s formal publication is coming soon but could take months.  That schedule significantly delays any attempts to block the rule through the court system or through Congress, because the regulation is not official — and cannot be formally challenged — until it appears in the Register. (The Hill)

We need INDCs from industry too – Countries across the world are making climate pledges for 2030 through their INDCs. Why can’t industrial sectors do the same? Industries are afraid that climate measures will hurt their international competitiveness, but this problem could be avoided if they agreed on international sectoral pledges. Rolf de Vos of Ecofys proposes a new mechanism: Intended Sectorally Determined Contributions (ISDCs). (Energy Post)

Carbon markets under a 2020 climate agreement – Gareth Phillips of the African Development Bank looks at lessons learned from the Kyoto Protocol and what it means for a market mechanism in a post 2020 climate regime (Sindicatum blog)

Small island states line up cleaner energy future – A rundown of the efforts by vulnerable island nations to deploy more renewable energy, the financial assistance they are tapping and the lack of a viable project pipeline. (Thomson Reuters Foundation)

 

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