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Colombia has submitted its INDC to the UN, promising to cut its greenhouse gas emissions to 20% below BAU levels in 2030 and will explore the use of market instruments as a means to meet the target.
EU carbon prices were trading in negative territory for much of Monday despite a strong auction result and bullish signals from the energy complex, as analysts warned of a bearish trend that could send prices below €8 this week.
Front-year California carbon prices pulled back slightly in a week of relatively high liquidity that brokers said was characteristic of the period immediately following the WCI’s quarterly auctions.
LafargeHolcim will file an appeal in its lawsuit against Romania’s Environmental Protection Agency (NEPA) over the theft of 1.6 million EU Allowances after a Romanian court in July rejected the cement maker’s claim, a company spokesman told Carbon Pulse.
Job listings this week:
Policy Analyst, EU Committee (Energy and Environment Sub-Committee), House of Lords – London
Climate Change Group Head, IIED – London or Edinburgh
Junior carbon & power analyst, Climate Connect – New Delhi
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Bite-sized updates from around the world:
Paris climate talks could fail, warns Francois Hollande – Nations must make a greater effort to reach agreement or else millions face the risk of becoming climate refugees, says French president. (Guardian)
Donor countries agree way to measure climate finance: Ministers for 18 donor nations on Sunday agreed on a common approach for counting climate finance, though note that current data prevents them from accounting for the full range of flows they are mobilising to meet a commitment to channel $100 billion a year to poor nations by 2020. They will take the position forward to a global meeting of finance ministers in October in Lima. (Swiss environment ministry)
Canada’s New Democratic Party (NDP), which currently leads in voter polls, is promising to dramatically strengthen the country’s commitment to fighting climate change if it wins the October federal election, pledging to deepen INDC targets beyond what the ruling Conservative party has offered. (Globe and Mail)
Staying on the subject of Canada, here is a comprehensive look by the Globe and Mail at the dilemma many Alberta-based oil and gas companies are finding themselves in following the drop in crude prices and the introduction of a more stringent provincial climate regime, and what they’re doing in order to survive.
Oil and gas producer ConocoPhillips on Friday said it would support a UN climate change agreement if it met its own policy principles, including creating a “level playing among energy sources and between countries.” (Reuters)
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