CP Daily: Thursday October 1, 2015

Published 18:33 on October 1, 2015  /  Last updated at 18:38 on October 1, 2015  /  Newsletters

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

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Narrowing gas-to-coal spread seen weighing on 2016-17 EU carbon prices -analysts

Cheaper European gas relative to coal will exert bearish pressure on EU carbon prices in 2016 and 2017, London-based Energy Aspects said on Wednesday, trimming their EUA price estimates for those two years by between 7% and 14%.

Second ERF auction could exceed A$1 billion as big emitters join, analysts say

Australia could contract up to A$1 billion ($700m) worth of emission cuts in the next Emissions Reduction Fund (ERF) auction as big emitters like BHP Billiton and Qantas join, market analysts Reputex said Thursday.

INDC Roundup: Steady stream of climate pledges on UN INDC deadline day

A steady stream of INDCs flowed in on Thursday, the soft deadline for nations to submit their post-2020 climate pledges to the UN.

EUAs jump on bullish auction for second straight day

EU carbon prices jumped after a government auction cleared well above market for the second consecutive session but slipped back in afternoon trade.

Almost all EU ETS compliance firms won’t need MiFID licences -analysts

Almost all EU companies with ETS obligations won’t need a MiFID II licence to trade EUAs because they will fall under the thresholds set by regulators this week, according to analysts at ICIS Tschach Solutions.

Six out of 10 most competitive nations price their carbon emissions

Six out of the top 10 most competitive nations, according to the World Economic Forum’s latest rankings, have introduced carbon pricing to cover some of their largest sources of carbon emissions, undermining claims that greenhouse gas abatement and rising productivity are mutually exclusive.

Officials propose to keep JI on life support, take steps to align with CDM

Joint Implementation (JI) is a ready-made carbon market mechanism that countries can use to cut emissions under an emission cap, the JI Supervisory Committee (JISC) agreed on Wednesday.


Bite-sized updates from around the world

World’s energy systems at risk from global warming, says industry group – Energy grids, power stations and distribution networks are vulnerable to storms, flooding and heatwaves caused by climate change, says World Energy Council. (Guardian)

The European Bank for Reconstruction and Development (EBRD) plans to raise financing for green projects to €18 billion ($20.17 billion) in the next five years to help fight climate change, doubling rates in the past decade, it said on Wednesday. (Reuters)

European coal had its worst quarterly performance since 2008 as nations favor less-polluting fuel for electricity generation, Bloomberg reports.

New criteria for coal-fired power plant financing by French bank Crédit Agricole suggests that the bank will not be able to finance the controversial €800 million Plomin C coal power plant in Croatia, potentially leaving it stranded, campaign groups said. The policy now rules out finance for coal power plants in high-income countries, which includes Croatia.

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