CP Daily: Friday September 18, 2015

Published 18:36 on September 18, 2015  /  Last updated at 18:36 on September 18, 2015  /  Newsletter  /  No Comments

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

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EU nations agree mandate for Paris global climate talks

EU environment ministers agreed a united stance on Friday for the bloc’s negotiating position at the December UN climate talks in Paris, which included a push for all countries to achieve “sustainable climate neutrality” by the end of the century.

 

EU’s MSR gets final approval as states look ahead to Phase 4 ETS reforms

EU environment ministers on Friday gave the final stamp of approval required for the bloc’s Market Stability Reserve to become law, even though six member states logged their objection to the measure.

 

Quebec proposes 37.5% GHG cut by 2030, most ambitious target yet for a Canadian province

Quebec has proposed to cut its GHG emissions by 37.5% below 1990 levels, the most ambitious target yet for a Canadian province, and will hold consultations on the goal in an effort to formalise it before November’s UN climate summit in Paris.

 

EU carbon falls alongside wider energy markets to post 1.8% weekly decline

European carbon prices dropped on Friday to post a 1.8% weekly decline, as wider weakness in energy markets weighed on EUAs.

 

UN seeking to buy 350,000 CERs

The UN has launched a tender to buy a total 350,000 CERs from multiple regions and projects with co-benefits, according to an ‘invitation to bid’ (ITB) document.

 

NZUs unchanged as ETS review uncertainty lingers

Spot NZUs closed at NZ$6.70 ($4.26) on Friday, unchanged from last week as traders remained largely passive amid a lack of signal from the government on what the upcoming ETS review might bring.

 

French, German energy experts have low expectations of Paris summit -surveys

The UN climate summit in Paris is unlikely to lead to a legally binding international agreement but failure to strike a deal would not water down national climate policies, two surveys found.

 

Chinese pilot market data for week ending September 18, 2015

Closing prices, ranges and volumes for China’s regional pilot carbon markets this week.

 

Voluntary market data from CTX for Sep. 18, 2015

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:

“It’s the West which has polluted the world for the last 150 years with cheap energy,” Indian Power Minister Piyush Goyal said in an interview with Bloomberg. “I can’t tell the people of India that we’ll burden you with high costs because the West has polluted the world, now India will pay for it. Not acceptable to us.”

UK’s Cameron gives top environment policy job to oil man ahead of major climate talks – Environmentalists slam appointment of ex-Schlumberger consultant as energy and environment adviser just months before global climate summit in Paris. (Guardian)

Greenpeace is the latest organisation to chime in over the potential illegality of Germany’s proposed lignite reserve.  The green group commissioned an analysis (in German) that found the country has a surplus of power capacity, and even when the last nuclear station is taken offline in 2023, there will still be an excess of 11 gigawatts – equivalent to four times the amount envisaged in the lignite reserve.  If this was indeed that case, Germany’s plan would break EU state aid rules. (H/T Clean Energy Wire)

The tiny Caribbean island nation of Grenada on Friday became the 63rd country to submit its INDC, pledging to cut its GHG emissions by 30% by 2025, with an “indicative reduction” of -40% by 2030 (on 2010 levels). The country added that it was open to exploring the use of market-based mechanisms. Click here for our INDC Tracker, which includes submitted pledges plus unofficial and draft ones, and unsubmitted ones reported by media.

And finally… Although the religious right in the US is often portrayed as anti-environment, Vice News suggests they may represent the best chance of convincing Republican lawmakers to embrace new environmental regulations through the idea of “protecting God’s creations”, or ‘creation care’ as its known in the vernacular of the faith-based green movement.

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