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