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California lawmakers late on Friday passed a bill to cut the state’s energy use and boost renewables, while another that would have mandated a deep reduction in its GHG emissions has been shelved as the legislature adjourned for the year.
The Regional Greenhouse Gas Initiative (RGGI) sold 25.4 million 2015 vintage CO2 allowances for $6.02 each, the scheme’s regulator said on Friday, some 10 million more than expected as high prices in the north-east US regional market triggered the sale of additional units.
Ukraine officials pick weakest option for INDC as EU-backed advisers distance themselves from process
Ukraine is set to submit an INDC for its GHG emissions to rise around 40% above current levels over the next 15 years after officials opted to recommend the weakest of four tabled options, according to two sources close to the process.
EU carbon prices slipped slightly on Friday but still posted a 2.1% weekly rise, as traders bet on further near-term gains after prices moved out of a brief downward trend and amid bullish signals from the energy complex.
Spot NZUs fell 2.2% over the week to close Friday at NZ$6.70 ($4.22), their lowest levels in 11 weeks, with more potential downside ahead, according to market participants.
Emissions bourse operator Carbon Trade Exchange will on Sep. 28 launch its spot market for RGGI permits, it said on Friday, marking the first cleared, physically-settled spot bourse for a mandatory US carbon market.
A British man has been disqualified from acting as a company director until 2029 for selling illiquid carbon credits to unwitting investors at inflated prices, the UK Insolvency Service said on Friday.
Closing prices, ranges and volumes for China’s regional pilot carbon markets this week.
Herein 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:
Fossil-fuel producing nations may favour “supply side discipline”, such as handing out fewer drilling licences, over trying to negotiate a global emissions cap, according to Andy Howard, an adviser to Critical Resource, which runs a panel advising the fossil fuel industry on UN climate talks. He said capping emissions through carbon markets may be difficult as current low prices won’t be enough to compensate nations that adopt clean energy, while fossil fuel producers could still profit amid supply restraints. (Bloomberg)
Miner BHP to link with SaskPower in CCS research – Top global miner BHP Billiton and Canada’s Saskatchewan Power plan to set up a CCS research centre to help cut the costs and risks. (Reuters)
France to end coal tech export subsidies – The French government has vowed immediately to end state aid for companies exporting coal technology unless fitted with CCS as the country tries to set a good example in the run-up to December’s UN-sponsored climate change summit in Paris. EU officials meet to discuss the issue on Sept 18, where a united stance on a global ban could pressure oppenent and coal tech specialist Japan. (EurActiv)
And finally… CAN Europe has compiled a range of maps of Europe showing the status of coal plants, coal financing, the health impact of coal burning and CO2.
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