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The UN has launched of an online platform to voluntarily cancel CERs, hoping to provide a new source of demand to help mop up the oversupply of credits overshadowing the beleaguered scheme and promote wider use of voluntary offsetting.
India’s Cabinet will on Wednesday approve a target to reduce the carbon intensity of the economy to 35% below 2005 levels by 2030, a plan that would include building 350 GW of solar and wind power capacity over the next 15 years, the Business Standard reported.
Washington State has begun writing rules that will require its largest emitting installations to curb their GHG output, the Department of Ecology announced on Monday, adding that compliance options will include a carbon market and offset scheme.
Taiwan has released regulations that require 272 of its biggest emitters to report their greenhouse gas output, the first step in implementing its June climate law that also includes setting up an emissions trading scheme.
Premier Jay Weatherill on Tuesday told the South Australia parliament that it would be near impossible to set up a state-based carbon market, AAP reported, countering claims from his environment minister last week that SA was exploring such a policy.
Japan is considering limiting coal-fired generation to 50% of each utility’s total fossil fuel output as part of its plan to cut GHG emissions 26% by 2030, the Kyodo news agency reported Tuesday.
European carbon prices firmed by 0.5% on Tuesday, climbing back above €8 as European coal prices dropped below $50, making it cheaper for some EU power plants to emit.
The board of the European Investment Bank (EIB) on Tuesday approved a new climate lending strategy, which held the climate-focused portion of the bank’s total lending at 25% but aims to take climate considerations into account in all disbursements and focus on projects with more impact.
Bite-sized updates from around the world:
US Senate Democratic leaders on Tuesday plan to unveil a more ambitious climate bill than President Obama’s targets, the New York Times reports. The measure, sponsored by Washington Sen. Maria Cantwell, calls for an annual 2% reduction in the country’s GHGs through 2025. The bill has no chance of surviving the Republican-controlled Congress, but Democrats say they believe that forcefully pushing for climate change policies could help them win control of the Senate in 2016 – and if they regain the majority, they will move to enact climate legislation along the lines of the Cantwell bill.
Luxembourg will only address its petrol pricing after Paris. The tiny nation, which will speak for the EU at the UN climate summit as holder of the bloc’s rotating presidency, will not be ready this year to reform its pricing of petrol, a major revenue earner that greens say increases emissions by promoting wasteful ‘fuel tourism’ among motorists in neighbouring Belgium, Germany and France. (Reuters)
Carbon offsets plan could clear the way for coal-fired power plants in Canada’s BC – According to policy discussion papers, the provincial government plans to retool offset programme to allow LNG and coal-fired power plants to be built in B.C., while staying within the province’s GHG cap. BC currently has no coal-fired power plants, although it has plenty of coal. (Business in Vancouver)
A slew of green policy reversals has sapped the UK’s hard-won international credibility on climate change just when it matters most globally, the head of the country’s biggest business lobby group has warned. (Financial Times, $)
The German steel industry is building an alliance with workers’ unions and politicians to fight the reform of the EU ETS, German paper FAZ reports. Cutting the amount of free EUAs handed to the industry would increase production costs to a degree that it endangers the sector’s existence in Germany, a steel industry representatives said. (H/T Clean Energy Wire)
And finally… Amal Clooney (wife of George) faces Cherie Blair (wife of Tony) as jailed former Maldives president Mohamed Nasheed (husband of Laila Ali) appeals his sentence. RTCC reports.
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