— COMING IN FEBRUARY: Carbon Fast Forward – Manchester —
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TOP STORY
POLL: Analysts cut EU carbon price views again as bearish clouds darken
Experts have cut their EU carbon price forecasts for 2020 for a second straight quarter, a Carbon Pulse survey of 15 analysts has found, illustrating the increasingly bearish sentiment that is sweeping through the market and keeping investors on the sidelines.
AMERICAS
California’s ARB narrows offset investigation at Michigan farm
California regulator ARB has narrowed its probe of a Michigan-based WCI dairy farm offset project to three issues, down from six previously, according to emails seen by Carbon Pulse.
California proposes members of new offset committee after long delay
California regulator ARB on Friday outlined the 13 members of the Compliance Offset Protocol Task Force (OPTF) for board approval later this month, after the applicant selection process faced numerous delays over the past year.
US Carbon Pricing Roundup for week ending Jan. 10, 2020
A summary of legislative and regulatory action on carbon pricing and clean energy at the US subnational and federal level taken this week, including developments in Washington state, Virginia, California, New York, Nevada, and Utah.
ASIA PACIFIC
Falling emissions could ease pressure on Korean CO2 prices -analysts
Falling energy-related emissions and increased offset supply in 2019 and 2020 could shift the South Korean emissions market back to a net surplus later this year and ease pressure on near-record high CO2 allowances, analysts said Friday.
CN Markets: Pilot market data for week ending Jan. 10, 2020
Closing prices, ranges and volumes for China’s regional pilot carbon markets this week.
EMEA
EU Market: EUAs slip from €25 for 3% weekly loss as supply test looms
EUAs retreated from a four-day high above €25 on Friday amid mixed technical signals, a more stable energy complex, and ahead of next week’s hike in auction supply.
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WE’RE HIRING!
Climate and Energy Correspondent – Brussels
Carbon Pulse is looking for a Climate and Energy Correspondent to help us bolster and expand our coverage of the EU ETS and other energy and environmental markets, as well as climate and energy policy at a national, EU, and international level.
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BITE-SIZED UPDATES FROM AROUND THE WORLD
Vote clout – The world’s largest investor BlackRock has joined influential pressure group Climate Action 100+ calling for the biggest polluters to reduce their emissions. The decision comes after the firm was accused of failing to match rhetoric with action in its normal tactics of using internal ‘stewardship’ to influence rather than use the clout of its voting power. (The Guardian)
That don’t impress him much – Australian Prime Minister Scott Morrison on Friday said he was disappointed that people are conflating the devastating bushfires (see Reuters graphics) with his government’s emission reduction targets and repeated previous statements that he would not be introducing any new far-reaching climate change policies or ambitions. However, the Guardian newspaper reported that several MPs in Morrison’s party are now privately saying that more needs to be done to cut emissions, admitting concerns the ruling Coalition could be punished at the next election if it does not step up.
Decision time – Engineering giant Siemens will decide by Monday on its involvement in the development of the controversial Australian coal mine being built by India’s Adani, CEO Joe Kaeser said on Friday. Speaking after meeting climate activist Luisa Neubauer in Berlin, Kaeser told journalists he had offered her a seat on the supervisory board of the group’s new Siemens Energy division. Neubauer did not join the news conference. Siemens’ contract to provide signalling technology to the coal mine’s railway is worth €18 million euros, Kaeser said. The Australian government last year approved the construction of a new coal mine in Queensland by Adani that is expected to produce 8-10 million tonnes of thermal coal a year. (Reuters)
French phaseout – EDF’s Havre coal power plant in France will close on April 1, 2021, the country’s energy ministry said, flagging the latest in plans to phase out the remaining five coal power facilities by the end of 2022. EDF plans to convert two units to burn biomass, with Czechia’s EPH owning the other two having bought them from Uniper last year. (Reuters)
Baden idea – Eastern German coal mining states have criticised a reported offer by energy company Uniper to shut down or convert to gas all its coal-fired power stations – including a lignite plant in eastern Germany – in return for putting online its new hard-coal plant Datteln 4 in the western part of the country. The heads of German states directly affected by the coal exit argue that last year’s coal commission agreement called for Datteln not to be put into operation. Chancellor Angela Merkel has invited all coal-state government heads to a meeting in the chancellery on 15 January to find a solution, writes the Rheinische Post. (Clean Energy Wire)
Well-wisher – Canadian oilsands producer Cenovus said it is aiming to achieve net zero emissions and reclaim hundreds of decommissioned wells sites as part of its new sustainability targets announced Thursday. The Calgary-based company says its plan is to reduce its emissions per barrel by 30% by 2030, while keeping its total GHG output flat. It also may utilise offsets to meet its 2030 and 2050 targets. (CBC)
And finally… Unconscionable down under – A commercial finance manager at Australia’s biggest media firm News Corp. Australia on Friday pressed ‘reply all’ on an email from executive chairman Michael Miller, accusing the company of spreading irresponsible and dangerous misinformation regarding the ongoing bushfires. The woman, Emily Townsend, said the Rupert Murdoch-owned conglomerate misrepresented facts about issues such as arson in order to take focus away from climate change, the Sydney Morning Herald reported. “I find it unconscionable to continue working for this company, knowing I am contributing to the spread of climate change denial and lies. The reporting I have witnessed in The Australian, The Daily Telegraph, and Herald Sun is not only irresponsible, but dangerous and damaging to our communities and beautiful planet that needs us more than ever to acknowledge the destruction we have caused and start doing something about it,” said her email, which was later removed from all News Corp. inboxes.
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