CP Daily: Monday September 28, 2015

Published 00:51 on September 29, 2015  /  Last updated at 15:19 on November 1, 2017  /  Newsletter  /  No Comments

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

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Brazil flags INDC of 2030 goal to cut GHGs 43% below 2005 levels

Brazil’s will cut its greenhouse gas emissions 43% on 2005 by 2030, President Dilma Rousseff said on Sunday, flagging the country’s INDC at the UN General Assembly in New York.

Canada’s opposition NDP vows to introduce nationwide carbon trading if elected

The leader of Canada’s opposition and head of the left-wing New Democratic Party (NDP) on Sunday set out his plans to introduce emissions trading across Canada should his party win the Oct. 19 federal election.

EU watchdog raises thresholds for exempting CO2 trading firms from MiFID regulations

EU finance authority ESMA on Monday raised the thresholds for exempting carbon trading firms from MiFID regulations due from 2017, potentially making it easier for non-financial companies to avoid costly compliance and reducing the possibility that market liquidity could be hampered.

France to boost climate cash for poor nations to €5 billion per year from 2020 -Hollande

France will increase the amount of climate finance it channels to developing countries to €5 billion per year from 2020, up from €3 billion currently, French President Francois Hollande said on Monday, as his government prepares to host this year’s UN climate summit in Paris.

UK pledges 50% increase in climate finance to poor nations

The UK will increase by 50% the amount of climate finance it provides to help poor nations over the next five years, the government announced on Sunday.

INDC Roundup: Raft of fresh pledges greet new week

An assortment of 15 new INDCs was published over the weekend and on Monday, ahead of an informal Oct. 1 deadline for the national pledges that will set the stage for December’s UN climate summit in Paris. The plans included a number from South America, Africa and a collection of small island nations at risk from rising sea levels. Here’s a run-down of what was pledged.

EU carbon hits 7-week low on German power, thin auction demand

EU carbon prices fell to their lowest since Aug. 10 after Monday’s government auction attracted the fewest bids for three weeks and as German power dropped to a fresh 12-year low.

Keep Alberta’s carbon levy programme but raise CO2 price to C$50, leaked report recommends

A leaked government-funded analysis recommends increasing Alberta’s carbon levy to C$50 per tonne as the best way to cut the Canadian province’s power sector emissions, The Canadian Press reported on Sunday.

Italy, New York City among latest governments to join ‘Under 2 MOU’

Another 14 national and sub-national governments, including Italy and New York City, on Sunday signed up to the ‘Under 2 MOU’, an international effort to keep global warming below 2 degrees.

UK disqualifies carbon scam firm director who claimed ties to Clinton Foundation

A UK court has disqualified a 34-year old man for running a carbon credit investment firm that purported to be in partnership talks with former US President Bill Clinton’s philanthropic foundation but was found to have scammed investors out of hundreds of thousands of pounds.

CTX delays RGGI spot market launch

Emissions bourse operator Carbon Trade Exchange has delayed the launch of its spot market for RGGI permits in order to give clients more time to set up their accounts and get approval from their compliance departments.

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Job listings this week:

Sales Trader, ACT – San Francisco
New Energy Finance Analyst, BNEF – London

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Bite-sized updates from around the world

A new report from green think tank Heinrich Boll shows that OECD countries grew their economies by 16% in last decade while cutting GHG emissions by 6.4% – providing yet more evidence that falling carbon and rising GDP are not mutually exclusive. (Guardian)

In an open letter published Monday, six major US banks urged world leaders to adopt a strong global climate agreement this year but stopped shy of explicitly calling for a price on carbon, instead telling lawmakers that “policy frameworks that recognize the costs of carbon” were needed for market certainty, and to accelerate investment, drive innovation in low-carbon energy and create jobs.

Maurice Newman will not continue as the Australian prime minister’s top business advisor after his term ended last week. Newman was appointed by former PM Tony Abbott, but the climate sceptic has been a controversial figure. In May he wrote an opinion piece, arguing climate change was a hoax invented by the UN to establish a new world order. (The Guardian)

Japan’s Ministry of Economy, Trade and Industry (METI) has published a list of 9 candidate projects under the Joint Crediting Mechanism it will fund this year. Among them is a study by the Mizuho Research Institute on the potential of promoting and implementing the JCM in Iran (in Japanese). A METI official told Carbon Pulse the project is in very early stages, and no negotiations between the two governments are imminent.

Washington officials said they are discussing whether the state’s largest emitters could be allowed to comply with a new carbon market using credits from existing trading schemes in other states. (ICIS)

And finally… How viral cat videos are warming the planet – Datacentre web servers, such as those used by Google and Facebook, are to blame for 2% of global GHG emissions – about the same as air travel. (Guardian)

Got a tip? Email us at news@carbon-pulse.com

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