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UK carbon capture scheme wins GBP300mln from EU

Posted on 17 April 2014 by VRS  |  Email |Print

Brussels is to grant €300m to a pioneering carbon capture and storage project in the UK. The move comes as the EU seeks to regain its lead in a technology seen as crucial in the fight against climate change.
Officials said the White Rose CCS development in North Yorkshire had qualified for a grant under a scheme run by the European Commission to support renewable energy, grid integration and CCS projects………………………………………..Full Article: Source

EU to host industry talks ahead of setting 2030 climate goals

Posted on 17 April 2014 by VRS  |  Email |Print

The European Commission will hold three meetings this summer on how to ensure the bloc’s industries can compete in global markets while meeting goals to cut greenhouse gas emissions, it said on Wednesday. The meetings aim to gather views on rules determining if companies can continue to receive free carbon permits under the EU Emissions Trading System (ETS) beyond 2020, when current measures expire.
They will also include how EU governments can fund the development of new technologies to help drive deep cuts in the heat-trapping emissions blamed for warming the planet………………………………………..Full Article: Source

Brazil looks to swap World Cup publicity for carbon credits

Posted on 16 April 2014 by VRS  |  Email |Print

Brazil, looking to offset the carbon emissions generated by construction, travel and other activities related to hosting the 2014 Soccer World Cup, said on Tuesday it wants holders of United Nations-backed carbon credits to swap them for publicity during the games.
The World Cup begins June 12 and Brazil’s Environment Ministry said it has launched a program to convince owners of credits to exchange them for publicity in official documents of the event………………………………………..Full Article: Source

U.S. greenhouse gas emissions fall 10 pct since 2005 -EPA

Posted on 16 April 2014 by VRS  |  Email |Print

U.S. greenhouse gas emissions fell nearly 10 percent from 2005 to 2012, more than halfway toward the United States’ 2020 target pledged at United Nations climate talks, according to the latest national emissions inventory.
The report showed that emissions dropped 3.4 percent from 2012 to 2011, mostly due to a decrease in energy consumption and fuel switching from coal to natural gas. The Environmental Protection Agency on Tuesday published the United States’ 19th annual emissions tally to the U.N. Framework Convention on Climate Change………………………………………..Full Article: Source

EU nations said to set next carbon-market overhaul talks in June

Posted on 15 April 2014 by VRS  |  Email |Print

European Union governments will hold further discussions in June about a proposal to make supply in the world’s biggest carbon market more flexible, according to two people with direct knowledge of the matter.
Climate officials from the 28 EU nations held an initial discussion about the proposal on April 11 in Brussels and agreed to compile a list of questions about the draft to send to the European Commission, said the people, who asked not to be identified because the talks are private. The commission, the EU’s regulator, is to answer the questions by the end of May, the people said………………………………………..Full Article: Source

NZ emissions accelerating

Posted on 15 April 2014 by VRS  |  Email |Print

New Zealand’s emissions of greenhouse gases grew 2.2 per cent in 2012, accelerating from 1.4 per cent in 2011. The increase, reported by the Ministry for the Environment in New Zealand’s greenhouse gas inventory, also exceeds the average since 1990, over which period the cumulative increase in emissions was 25 per cent.
Emissions in 2012 grew by 1.7 million tonnes of carbon dioxide equivalent, reflecting 900,000 tonnes or 2.9 per cent more from the energy sector, as a dry year reduced hydro-electricity production, and an 800,000 tonne or 2.4 per cent increase in agricultural emissions as the dairy herd grew………………………………………..Full Article: Source

UN urges world to intensify efforts to cut emissions

Posted on 14 April 2014 by VRS  |  Email |Print

The world’s leading climate science body has released its second report in two weeks, this time outlining how the planet can avoid dangerous climate change. It’s found greenhouse gas emissions are at unprecedented levels, despite a growing number of policies to reduce climate change.
And as for the cost of mitigation? Economists estimate it would be up to 6 per cent of GDP by 2050. The high speed mitigation train would need to leave the station soon and all of global society would have to get on board………………………………………..Full Article: Source

Australian carbon price scrapping seen as ‘backwards step’, says IPCC author

Posted on 14 April 2014 by VRS  |  Email |Print

IPCC report says carbon pricing is ‘cost-effective incentive for everyone to look for their best option to lower emissions’. The international community believes Australia is taking a “backwards step” by scrapping carbon pricing, which is seen as a key tool in cutting emissions, according to an Intergovernmental Panel on Climate Change lead author.
Prof David Stern, a lead author of the UN report which was released on Sunday, said although the IPCC was policy-neutral, the report makes clear the benefits of carbon pricing………………………………………..Full Article: Source

Carbon grab—the next natural resource dilemma?

Posted on 11 April 2014 by VRS  |  Email |Print

A Washington-based human rights organization warns of an unprecedented “carbon grab” by governments and investors that will infringe upon the rights of indigenous peoples in low- and middle-income countries in Latin America, Asia and Africa.
Research conducted by the Rights and Resources Initiative (RRI) reveals that there are no laws to guarantee that indigenous peoples and local communities will benefit from the global trade of carbon credits as nations cope with carbon emissions that impact global climate change. As deforestation threatens the livelihoods of remote forested regions, governments and investors may profit while rural communities suffer………………………………………..Full Article: Source

Why hasn’t the US tried cap and trade for emissions?

Posted on 11 April 2014 by VRS  |  Email |Print

“Cap-and-trade,” whereby big polluters must pay to emit greenhouse gases against a capped total amount that is reduced over time — has been in effect across the European Union (EU) since 2005. This so-called Emissions Trading System (ETS) requires 11,000 of the largest electric and industrial facilities in 28 European countries to participate.
Some 45 percent of Europe’s total greenhouse gas emissions are regulated under the system. Proponents say the ETS has succeeded in keeping greenhouse gas emissions in check and making Europe a global leader on climate. The EU reports that, by 2020, emissions from sectors covered by ETS will be 21 percent lower than they were in 2005 and 43 percent lower by 2030………………………………………..Full Article: Source

What Abbott will see in Asia’s clean energy triangle

Posted on 10 April 2014 by VRS  |  Email |Print

Prime Minister Tony Abbott’s visit to Japan, China and South Korea this week offers the opportunity for the government to witness the changing circumstances in regional climate leadership and the accelerating Asian action on carbon and clean energy.
These have seen Asia become the epicentre of clean energy investment and seen Asian nations the biggest movers in a range of indicators, such as last year’s TCI/GE G20 Low-Carbon Competitiveness Index………………………………………..Full Article: Source

Are CEOs ready for climate change?

Posted on 09 April 2014 by VRS  |  Email |Print

Fred Krupp goes about his business as head of the Environmental Defense Fund by applying leverage where the interests of business and the environment intersect. He sat down with The Wall Street Journal’s John Bussey to discuss climate change.
Pew took a poll not long ago and found 65% of the American public favor pollution limits on power plants, which included a majority of Republicans, 52%, and 67% of independents. And when you look at people under 30, another poll found 85% want carbon limits on power plants………………………………………..Full Article: Source

Trading system needed to reduce carbon levels

Posted on 09 April 2014 by VRS  |  Email |Print

A trading system for carbon is needed to reduce carbon levels, including incentives at a private level, according to Alan Matthews, Professor Emeritus of European Agricultural Policy in the Department of Economics at Trinity College, Dublin, Ireland.
Soil contains a huge amount of carbon, twice as much as in the atmosphere in the 0-30 cm layer alone, he said, however continuous cultivation over a long period has reduced stocks of soil organic carbon (SOC) often to dangerously low levels………………………………………..Full Article: Source

Climate change: In the balance

Posted on 08 April 2014 by VRS  |  Email |Print

In science, more information is supposed to lead to better conclusions and greater consensus. The Intergovernmental Panel on Climate Change (IPCC), which published its latest report on March 31st, certainly has more information. The new study synthesises 73,000 published works (a quarter of them in Chinese). This represents a 100-fold increase in about 30 years.
But consensus remains elusive. Richard Tol of Sussex University, in Britain, disparagingly appraised the report’s conclusions as “the four horsemen of the apocalypse”. The final version appears to have been fought over paragraph and comma between those (such as Dr Tol) who want to describe dispassionately what they think is happening and those who want to scare the world into taking action………………………………………..Full Article: Source

India: Can our agriculture tackle climate change?

Posted on 08 April 2014 by VRS  |  Email |Print

India has long been regarded a ‘climate change hotspot’, and the subcontinent is at the forefront of the worst impacts in terms of human livelihood and food security. Given that 70 per cent of our arable land is estimated to be prone to drought, 12 per cent to floods and 8 per cent to cyclones, we need to pay attention.
According to the fifth assessment report of working group II, released by the inter-governmental panel on climate change (IPCC), by 2100, with the current pace of climate change and development trends, and in the absence of adaptation, millions of people in South Asia will be affected by droughts, glacier melts, cyclones and coastal flooding………………………………………..Full Article: Source

China’s pollution permit market must be revamped

Posted on 08 April 2014 by VRS  |  Email |Print

New government plans to strengthen China’s “pollution permit” market have been applauded as the meaningfulness of existing trials of the system has been called into question.
Since 2007, China has set up more than 20 local pilot trading platforms for the permits. Not to be confused with carbon trading, which targets greenhouse gases led by carbon dioxide, this scheme allow industrial firms to buy and sell rights to emit pollutants like sulphur dioxide and nitrogen oxide, major causes of smog and acid rain………………………………………..Full Article: Source

Window closing on world’s ability to meet global warming targets: UN study

Posted on 07 April 2014 by VRS  |  Email |Print

World powers are running out of time to slash their use of high-polluting fossil fuels and stay below agreed limits on global warming, a draft UN study to be approved this week shows.
Government officials and top climate scientists will meet in Berlin from April 7-12 to review the 29-page draft that also estimates the needed shift to low-carbon energies would cost between two and six per cent of world output by 2050………………………………………..Full Article: Source

EU slashes carbon permits, increasing cost of pollution

Posted on 07 April 2014 by VRS  |  Email |Print

The European Union’s move to prop up the price of carbon pollution in its greenhouse gas trading market could result in significant increases in carbon prices. The EU slashed in half the amount of carbon permits it will auction off this year, and the smaller supply could force prices up by 34% this year, according to a median survey of analysts put together by Bloomberg.
The EU will take the extra permits and “backload” them, or reintroduce them into the carbon market at the end of the decade. The EU carbon market, the world’s largest, is valued at about $47 billion. Around 13,000 factories and utilities are required to participate. They must obtain enough permits – each equivalent to the right to emit one metric ton of carbon pollution – to offset their annual emissions………………………………………..Full Article: Source

Oil industry can be ‘solution’ to climate change says Figueres

Posted on 04 April 2014 by VRS  |  Email |Print

The UN’s climate chief has appealed to the oil and gas industry to become the solution rather than the problem to addressing the causes of global warming. In a speech today at the London headquarters of IPIECA, the industry’s association for environmental and social issues, Christiana Figueres said she wanted fossil fuel companies to drive investments in renewables and technologies to capture and store carbon dioxide.
“We need, and are undoubtedly moving towards a new, sustainable energy mix. What is exciting is that the oil and gas industry can actually be part of the solution,” she said………………………………Full Article: Source

Pollution traders bullish as EU cuts permit glut: Energy

Posted on 04 April 2014 by VRS  |  Email |Print

The cost of polluting is poised to rebound after the European Union began reducing a record glut of permits to rescue the world’s biggest greenhouse-gas market. Carbon prices will climb 32 percent by the end of June, according to the median of 11 trader and analyst estimates compiled by Bloomberg. Options data show traders are the most bullish in three years.
Futures that tumbled as much as 92 percent from their peak in 2008 spurred EU lawmakers in March to curb supply in the $47 billion market by postponing sales of some permits. While carbon rallied as traders anticipated the changes, volatility has also increased. Prices fell 30 percent last week as data on emissions from U.K. power plants missed analysts’ estimates………………………………Full Article: Source

Xinhua Insight: Climate change: Risks and opportunities

Posted on 04 April 2014 by VRS  |  Email |Print

Every part of the world is feeling the impact of climate change, according to Kalee Kreider, a special adviser for climate science at the United Nations Foundation. “No country is immune,” said Kreider, who is also spokeswoman for former U.S. Vice President Al Gore, at a forum on Wednesday in Beijing.
The forum was part of a three-day promotional activity publicizing the Intergovernmental Panel on Climate Change (IPCC) Fifth Assessment Report………………………………Full Article: Source

China launches carbon trading in Hubei

Posted on 03 April 2014 by VRS  |  Email |Print

Central China’s Hubei Province Wednesday launched a carbon trading scheme, the country’s sixth. The scheme covers 138 companies in 12 high pollution industries, including power generation and steel, which have been given a combined carbon emission quota of 324 million tonnes this year, the Hubei carbon trade exchange said in a statement.
Under the trading program, those which emit below their quotas can sell their excess to other enterprises or even to investors for profits. Hebei is the first place where the government has sold reserve quotas. About 2 million tonnes of carbon have been sold at a price of 20 yuan (3.20 U.S. dollars) per tonne…………………………………Full Article: Source

Carbon trading hits record on ICE as prices reach two-month low

Posted on 02 April 2014 by VRS  |  Email |Print

Carbon trading soared to a record on London’s ICE Futures Europe exchange as European Union emission prices headed for their biggest weekly decline in almost a year.
Traders bought and sold 124 million metric tons of EU carbon futures on ICE yesterday, taking this year’s total to 2.2 billion tons, a quarterly record. The benchmark December futures contract fell 17 percent this week, dropping to the lowest since Jan. 24………………………….Full Article: Source

EU carbon pares gains as analysts revise 2013 emissions estimate

Posted on 02 April 2014 by VRS  |  Email |Print

Carbon permits pared gains as analysts said European Union data showed emissions from factories and power stations probably fell more than their predictions.
The benchmark December carbon contract advanced 8.7 percent to 5.11 euros ($7.05) a metric ton on ICE Futures Europe in London. The futures had risen as much as 12 percent after the EU data was released………………………….Full Article: Source

China aims to launch pollution permit market within three years

Posted on 28 March 2014 by VRS  |  Email |Print

China plans to launch a nation-wide market to trade pollution permits within three years as part of efforts to tackle its environmental crisis, the Ministry of Finance (MOF) said on Monday. The ministries of finance and environmental protection have submitted draft guidelines for a market to the State Council, China’s Cabinet, which will make the final decision, MOF said.
“We will facilitate cross-regional trading, especially among regions covered by the same air and water pollution control regimes,” the statement said. The market would cap emissions of key pollutants from major facilities and force those that exceed their caps to buy permits in the market, hence providing economic incentives for polluters to invest in cleaner technologies………………………………Full Article: Source

World awash with raw Sugar, El Nino threat in Brazil keeps bulls in charge

Posted on 27 March 2014 by VRS  |  Email |Print

The world is awash with sugar as Brazil sugar is being offered at deep discounts for export and new harvest a few weeks away. However, positive trends continue in ICE Raw Sugar futures for May delivery which is up 1.18% at US$ 0.171 a pound on possible El Nino impacting sugar production in Brazil later this year.But markets have calmed down after rallying to a four-month high of $0.1846 a pound.
In the short run, however, raw sugar is being offered at 10 points below ICE futures which suggests abundant stocks worldwide, a Reuters report quoting trade sources said…………………………………Full Article: Source

Carbon trading seen as opportunity for firms

Posted on 26 March 2014 by VRS  |  Email |Print

Chinese enterprises should proactively participate in pilot carbon emission trading systems (ETS) and regard it as an opportunity to develop their businesses, a report by US accounting firm Ernst & Young (E&Y) said on Monday. With China planning to expand its pilot carbon ETS on a nationwide scale in its new five- year plan starting 2016, such involvements could prove to be beneficial, the report said.
Companies must learn about the details for monitoring and reporting mechanisms on their carbon emission and energy usage status, in order to sustain their competitiveness in the future, Chen Xiaoyan, director of Climate Change and Sustainability Services at E&Y, told a media briefing on Monday……………………………….Full Article: Source

Failing carbon trading markets provide key lessons for the future

Posted on 24 March 2014 by VRS  |  Email |Print

Although markets for trading carbon emission credits to reduce greenhouse gas emissions have stalled around the world, carbon markets are still emerging at the regional and national level, providing valuable clues about what does and doesn’t work.
In a new report, Duke University’s Richard Newell, William Pizer and Daniel Raimi discuss the key lessons from a decade of experience with carbon markets. They also discuss what it might take for these markets to develop and possibly link together in the coming years and decades………………………………………..Full Article: Source

Tokyo firms to ‘overachieve’ on emission targets

Posted on 24 March 2014 by VRS  |  Email |Print

Japanese companies covered by the Tokyo emissions trading scheme are on track to overshoot their targets after cutting carbon dioxide emissions by more than a fifth since the scheme began, a government official said. The market was Asia’s first when it launched in July 2010, and requires close to 1400 small businesses and factories to reduce their carbon dioxide by 6 per cent to 8 per cent by 2014.
In the 2012 financial year they emitted 10.61 million tonnes, Yuko Nishida, an environment official of the Tokyo metropolitan government told Reuters, unchanged from the year before, but down more than 22 per cent from the base year period (2002 to 2007)………………………………………..Full Article: Source

Pricing carbon: Floored

Posted on 21 March 2014 by VRS  |  Email |Print

It takes a particular kind of environmental policy to irk industrialists and greens alike. In its short life the Carbon Price Floor (CPF), a tax on pollution that was frozen by the chancellor of the exchequer on March 19th, has done precisely that. Holding down the unloved levy—for four years from 2016—will cut energy costs for businesses and householders.
But it leaves Britain’s climate policy in a mess. Carbon taxes or trading schemes, which aim to encourage investment in low-carbon generation by steadily raising the cost of alternatives, are the cheapest way to clean up smoggy economies………………………………………..Full Article: Source

Carbon tax repeal voted down by Senate

Posted on 21 March 2014 by VRS  |  Email |Print

The government’s carbon tax repeal laws have been voted down by the Senate, leaving the fate of Australia’s carbon pricing scheme up to the new Senate that sits from July.
It appears very likely the carbon price will then be repealed – and the government says its repeal laws will make the end date of the tax retrospective to 1 July, 2014 – even if they have not passed the parliament by then………………………………………..Full Article: Source

China’s Shanghai aims for cleaner energy, lower CO2 growth

Posted on 20 March 2014 by VRS  |  Email |Print

The Chinese city of Shanghai will reduce the energy intensity of its economy by 3 percent this year through shifting from coal to natural gas and limit the growth of carbon dioxide emissions to 8.5 million tonnes, the city government said.
The city said in an energy-saving and climate-change plan for 2014 that it would curb growth in year-on-year energy consumption to 4 million tonnes of standard coal equivalent, keeping it on track to meet a total consumption cap in 2015 of 34.64 million tonnes………………………………………..Full Article: Source

Steel industry urges overhaul of EU carbon-trading system

Posted on 20 March 2014 by VRS  |  Email |Print

The European Union should consider granting more free carbon allowances to most efficient energy-intensive companies and exclude such permits from trading, according to the EU steel industry lobby Eurofer.
The 28-nation bloc must base the allocation of greenhouse-gas quotas to manufacturers on less stringent emissions benchmarks to keep its industry competitive amid widening energy price gaps with the U.S. and Japan, Eurofer Director General Gordon Moffat said………………………………………..Full Article: Source

China: Firms told to report greenhouse gas

Posted on 19 March 2014 by VRS  |  Email |Print

Thousands of companies across China must start reporting their greenhouse gas emissions under a government plan to build a nationwide emissions database ahead of launching a carbon market.
The National Development and Reform Commission, the top economic planning agency, said on its website that all companies that emitted more than 13,000 tonnes of carbon dioxide equivalent in 2010 must report their future annual emissions of all six major greenhouse gases………………………………………..Full Article: Source

Budget 2014: Why freezing the carbon price floor is a symbolic blow to UK’s climate commitment

Posted on 19 March 2014 by VRS  |  Email |Print

Sometimes, the Chancellor must feel like he just can’t win. When he introduced the UK’s top-up carbon tax - the carbon price floor - environmentalists called it costly and ineffective. Now that he’s announced it’s going to be frozen, the same groups are accusing him of abandoning the UK’s climate change agenda.
The carbon price floor is a top-up tax: it exists to bolster the existing EU price of carbon. Energy companies already pay to pollute under the EU emissions trading scheme (ETS), buying permits to emit greenhouse gases when they generate electricity. But the price of the permits crashed to a record low last year, meaning there’s much less of a financial incentive for companies to cut their emissions………………………………………..Full Article: Source

The carbon price floor: disliked, divisive and about to be frozen

Posted on 18 March 2014 by VRS  |  Email |Print

A controversial government measure aimed at increasing the price of fossil fuels looks likely to be frozen in this week’s budget, in a move the Telegraph says will ” reignite the row over green taxes”. But unusually for low carbon legislation, the carbon price floor (CPF) is unpopular with green campaigners, while attracting support from some in the energy industry. What is it, and why is it earmarked to be chopped?
Designed to reduce greenhouse gas emissions from electricity generation, the CPF first appeared in George Osborne’s budget speech in March 2011. The chancellor announced the government’s intention to increase certainty for investors in low-carbon generation by putting a minimum price on the greenhouse gases emitted by the power sector………………………………………..Full Article: Source

China vows to clean up 60 pct of cities by 2020

Posted on 18 March 2014 by VRS  |  Email |Print

China pledged on Sunday that it will make sure that 60 percent of its cities meet national pollution standards by 2020, with pressure growing to make cities liveable as hundreds of millions of migrants are expected to relocate from the countryside.
China’s environmental problems such as pollution and water scarcity are expected to intensify as rapid migration pushes urban infrastructures to the limit. Almost all Chinese cities monitored for pollution last year failed to meet the standards………………………………………..Full Article: Source

17 nations authorised to swap UN offsets for EU carbon

Posted on 17 March 2014 by VRS  |  Email |Print

The European Commission on Friday gave approval for companies in 17 EU member states to exchange United Nations-backed offsets for EU Allowances under the bloc’s carbon market.
The move will allow participants in the EU’s Emissions Trading System (ETS) to use cheaper Certified Emissions Reductions (CERs) or Emissions Reduction Units (ERUs) to meet emissions targets ahead of an April 30 compliance deadline. Governments had been required to outline exactly how many offsets each power plant, factory and airline covered by the ETS is allowed to use between 2013 and 2020………………………………………..Full Article: Source

Tokyo cuts CO2 emissions but hoards credits

Posted on 17 March 2014 by VRS  |  Email |Print

About four years after Asia’s first mandatory greenhouse gas emissions-reduction scheme was launched by the Tokyo Metropolitan Government, businesses in the capital have succeeded in drastically cutting carbon dioxide emissions without depending on emissions credit trading.
Due mainly to the March 2011 Fukushima nuclear crisis, which reduced utilities’ electricity supplies and triggered legal curbs on power consumption by large-lot customers that year, Tokyo offices and factories covered by the cap-and-trade system have been able to easily meet their carbon dioxide reduction targets, a metropolitan government official said………………………………………..Full Article: Source

Economists back carbon pricing as effective tool against climate change

Posted on 14 March 2014 by VRS  |  Email |Print

Three of Australia’s senior economists have backed carbon pricing as the most effective way to reduce carbon emissions. One, former Reserve Bank governor Bernie Fraser, also said the Abbott government was working in the short-term interests of business and not the long-term interests of the public in its policies on climate change.
Mr Fraser, in an address to the National Press Club, expressed surprise at the ”brazenness and scale” of the campaign waged by the government and big business against the carbon and mining taxes………………………………………..Full Article: Source

Russia picks an odd time to put on climate halo

Posted on 14 March 2014 by VRS  |  Email |Print

How do you prevent a jump in your carbon pollution? Don’t invade anybody. Take Russia. At a meeting yesterday of 200 or so national climate negotiators in Bonn, Russia’s Oleg Shamanov said his country wanted to launch a market for trading carbon pollution credits.
The sooner the country can gain experience in a domestic cap-and-trade system, he said, the sooner it can link up to carbon markets in other countries or regions………………………………………..Full Article: Source

Value of world’s forest carbon could be undervalued by $800bln

Posted on 13 March 2014 by VRS  |  Email |Print

Edinburgh University’s Carbomap, an environmental survey company, has announced the completion of a three-dimensional carbon map of a forested region in Costa Rica and it reveals that the actual carbon content is 22% higher than published values using traditional satellite methods of measuring forest carbon.
Estimated using approved methodologies by the United Nations Framework Convention on Climate Change (UNFCCC), the global forest carbon stocks are understood to contain 638 billion tonnes of carbon, which may be valued at more than $3.8 trillion (using an average price of $6 per tonne of carbon)………………………………………..Full Article: Source

Investment continues for Carbon Trade Exchange

Posted on 13 March 2014 by VRS  |  Email |Print

Carbon Trade Exchange (CTX) continues to expand both its team and operations in Australia and International markets, on Wednesday, announcing the appointment of Dan Jackson as Chief Technology Officer and Nicole Favretto as Marketing Manager, both effective immediately.
Dan has over 10 years’ experience with systems architecture, analysis and design in the IT industry, including significant experience in the development of software solutions for large-scale defence projects in both the intelligence and communications sector………………………………………..Full Article: Source

Italian bourse GME to close carbon market after 3-year suspension

Posted on 13 March 2014 by VRS  |  Email |Print

Italian state-owned energy exchange Gestore Mercati Energetici (GME) will close its carbon emissions market on March 22, more than three years after it suspended trade due to what it called “presumed unlawful” activity.
The Rome-based bourse’s board of directors made the decision on March 5, GME said in a statement dated March 6 on its website. A GME official said the exchange was unable to comment further on the matter………………………………………..Full Article: Source

Value of world’s forest carbon underestimated by more than 20 percent

Posted on 12 March 2014 by VRS  |  Email |Print

Carbomap, an environmental survey company, has completed a three-dimensional carbon map of a forested region in Costa Rica. The map reveals that the actual carbon content is 22 percent higher than published values using traditional satellite methods of measuring forest carbon.
Estimated using approved methodologies by the United Nations Framework Convention on Climate Change (UNFCCC), the global forest carbon stocks are understood to contain 638 billion tonnes of carbon, which may be valued at more than $3.8 trillion (using an average price of $6 per tonne of carbon)………………………………………..Full Article: Source

SGX teaming up with Chinese commodities exchange to develop commodities market

Posted on 11 March 2014 by VRS  |  Email |Print

The Singapore Exchange (SGX) will work with a commodity exchange in China to develop the commodities markets in both countries. The two exchanges signed a memorandum of understanding (MOU) for the partnership on March 7, SGX said in a statement on Monday.
The bourse said it and the Dalian Commodity Exchange would jointly explore areas such as the development of new commodity derivatives and investor education in each other’s markets………………………………………..Full Article: Source

Switzerland seeks precision as nations shape carbon markets

Posted on 11 March 2014 by VRS  |  Email |Print

Nations setting up carbon markets must standardize their emission-reduction benchmarks to ensure international efforts to limit global warming stay on track, according to Switzerland’s climate envoy.
At least 30 of 200 countries meeting at talks this week in Bonn are developing carbon trading systems to help meet emissions targets under a worldwide treaty to start in 2020. Nations should measure greenhouse-gas cuts as tons of carbon dioxide even if they pursue hard-to-quantify policies such as emissions taxes and energy efficiency rules, said Franz Perrez, who represents the alpine nation in United Nations talks………………………………………..Full Article: Source

US senators to hold marathon debate on climate change

Posted on 11 March 2014 by VRS  |  Email |Print

Democrats in the US Senate will mount an overnight “talkathon” to draw attention to climate change, using tactics often deployed by Republicans to block laws regulating fossil fuels and curbing carbon emissions.
The marathon debate will hear from at least 28 Democrat senators in the latest front of an escalating battle ahead of and midterm elections in November and plans by President Obama to regulate coal-fired power stations………………………………………..Full Article: Source

Baden Wright appointed as new CEO for Carbon Trade Exchange

Posted on 07 March 2014 by VRS  |  Email |Print

Carbon Trade Exchange Australia (CTX) on Thursday announces the appointment of Baden Wright as Chief Executive Officer. Baden has a wealth of expertise in the Information Communications Technology (ICT) industry, with over 20 years’ experience across Banking & Finance, Telecommunications, Manufacturing, Airlines, Power Utilities and Government.
He is an experienced executive with a superior understanding of technology and business concepts from inception through to market implementation………………………………………..Full Article: Source

‘Carbon bubble’ poses serious threat to UK economy, MPs warn

Posted on 07 March 2014 by VRS  |  Email |Print

Committee says government and Bank of England must not be complacent about the risks of overvaluing fossil fuel companies. Stock markets are inflating a “carbon bubble” by overvaluing companies that produce fossil fuels and greenhouse gases, and this poses a serious threat to the economy, an influential committee of UK MPs has warned.
The idea of a carbon bubble – meaning that the true costs of carbon dioxide in intensifying climate change are not taken into account in a company’s stock market valuation – has been gaining currency in recent years, but this is the first time that MPs have addressed the question head-on………………………………………..Full Article: Source

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