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China’s national carbon price expected to debut at $6, survey finds
CO2 permits in China’s national emissions trading scheme are expected to trade at around 39 yuan ($6.12, €5.46) in 2017 and rise to 56 yuan in 2020, according to a survey conducted by non-profit group China Carbon Forum.
Ukraine urged to up climate ambition after INDC draft fails to impress
Environmental groups are urging Ukraine to step up its climate ambition as a way out of its energy crisis, after the government circulated a draft INDC that would allow its emissions to soar from current levels.
EUAs lift 2% after breaching resistance level
EU carbon prices climbed 2% on Tuesday after breaking above a level seen as technical resistance following a strong auction result.
Guangdong reforms CO2 allowance auction pricing mechanism
Guangdong will move away from fixed price floors in its CO2 permit auctions and instead use a benchmark price based on a three-month weighted average price, the China Emissions Exchange in Guangzhou said Tuesday.
Australia Climate Change Authority chair steps down
Climate Change Authority chair Bernie Fraser resigned on Tuesday, the agency, an advisory body to the Australian government, said Tuesday.
Brit jailed for part in 2011 EUA thefts ordered to repay £1
A British man found guilty of helping steal hundreds of thousands of EU Allowances in 2011, which led to the temporary suspension of the market, has been ordered to repay just £1 for his crimes.
Bite-sized updates from around the world:
The US Congress comes back from its month-long break ready to tackle a number of landmark energy initiatives, starting with an assault on President Obama’s climate change plans. Senate Majority Leader Mitch McConnell of Kentucky is expected to make stopping the EPA’s Clean Power Plan a top agenda item in the fall, according to congressional aides. (Washington Examiner)
Many observers say California’s lawmakers seem to function best under pressure, but with less than a week to go before Friday’s deadline for the state’s legislature to complete its work, key compromises that would help keep the year’s highest-profile legislation afloat, including Gov. Jerry Brown’s climate bill, remain elusive. (San Jose Mercury News)
Polish utilities jumped on Tuesday as the government backed off from the plan to push them to invest cash needed to save Kompania Weglowa SA, Europe’s largest thermal coal miner. Instead of opting for “the easiest solution” and forcing power producers to buy coal mines, the government will use part of its stakes in PGE, Polskie Gornictwo Naftowe i Gazownictwo SA and PZU SA to leverage financing of a new mining entity it plans to create after downsizing unprofitable Kompania, Treasury Minister Andrzej Czerwinski said Monday. (Bloomberg)
And finally… Coal companies are hurting, but the coal industry is not dying, argues Slate, adding that climate hawks must realise that bankruptcies aren’t the way to a lower-carbon future.
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