Sat, Apr 30, 2016
A A A
Welcome preal121
RSS

Commodities Briefing - Category | Environmental Trading more

EU High Court Rules Against Businesses on Carbon Credits

Posted on 29 April 2016 by VRS  |  Email |Print

European Court of Justice rules EU gave out too may allowances when it expanded the emissions program in 2013. The European Union’s highest court on Thursday ordered the European Commission to adjust its emissions-trading program in a way that could raise costs for some of the bloc’s biggest companies.
The European Court of Justice ruling reinforced the EU’s efforts to more aggressively cap carbon-dioxide emissions in the years to come, following a landmark agreement in Paris last year among world leaders to address climate change………………………………………..Full Article: Source

Cap-and-trade best way for Canada to reduce emissions

Posted on 29 April 2016 by VRS  |  Email |Print

Rather than a patchwork of provincial policies, a Canada-wide system would send a stronger signal that a low-carbon future is upon us. Over the last decade, in the absence of federal leadership, Canadian provinces have gone their own way on carbon pricing.
Alberta chose a unique carbon pricing system, British Columbia implemented a carbon tax, and Quebec launched a cap-and-trade system which Ontario will soon join. Others are waiting in the wings, either weighing their options or vehemently opposed. As a result, Canada’s environmental standing fell and full economic potential went untapped………………………………………..Full Article: Source

EUA rally crosses €7 mark, prices up 23% in past week

Posted on 28 April 2016 by VRS  |  Email |Print

European carbon prices continued to climb on Tuesday after the previous day’s stellar rise, notching a 3.3% gain on the back of a bullish energy complex and after EUAs hit their highest since mid-January.
The front-year futures trading on ICE settled up 22 cents at €6.84 having retreated from the intraday peak of €7.07 touched several times in morning trade. Prices are now up 23% in the last week and 43% over the past month………………………………………..Full Article: Source

Carbon copy: Are we in for another scare campaign over climate change?

Posted on 28 April 2016 by VRS  |  Email |Print

While groups such as The Climate Institute and the Greens will question whether targets for emissions cuts – close to double the Coalition’s by 2030 – go far enough, Shorten is sending a clear signal he’s willing to make climate a centrepiece of the 2016 election campaign.
Labor’s strategy, including an emissions trading scheme, has its risks. The success of Tony Abbott’s scare campaign against the carbon tax prompted then environment spokesman Greg Hunt to predict the 2013 election would be the last in a generation to feature climate change prominently………………………………………..Full Article: Source

UK’s ECCC backs fifth carbon budget proposal to cut emissions by 57% from 1990

Posted on 28 April 2016 by VRS  |  Email |Print

A House of Commons select committee backed the UK’s proposal to set the fifth carbon budget at 1,765 million metric tons of carbon dioxide equivalent (MtCO2e), which would cut emissions to an average 57% below 1990 baseline levels.
In a report on Wednesday, the Energy and Climate Change Committee (ECCC) said the Committee on Climate Change (CCC), an independent body established under the UK’s 2008 Climate Change Act, had produced robust advice in line with previous budgets and with the overall trajectory towards meeting the 2050 target………………………………………..Full Article: Source

Australia: Labor would introduce carbon market, pledge deeper carbon cuts if elected

Posted on 27 April 2016 by VRS  |  Email |Print

A Shorten Labor government would slash carbon emissions by significantly more than the Turnbull-led Coalition by 2030, introduce a broad-based emissions trading scheme, and block states like NSW and Queensland from expanding land clearing.
Signalling that the ALP is prepared to make climate change a central point of difference from the incumbents, leader Bill Shorten said “the consequences of refusing to take meaningful action on climate change will be devastating for Australia and our economy”. “While senior ministers in the Liberal government are still disputing whether the ’science is settled’ on climate change, Labor knows it is,” Mr Shorten said………………………………………..Full Article: Source

EU carbon soars 13% on short-covering, energy in biggest rise for 3 years

Posted on 27 April 2016 by VRS  |  Email |Print

EU carbon prices surged to a three-month high in volatile trade on Tuesday, with traders attributing the gains to speculative short-covering and utility buying amid large gains in the wider energy complex.
Front-year EU Allowance futures trading on ICE ended up 75 cents or nearly 13% at €6.65, just shy of the day’s €6.71 peak, which was touched earlier in the afternoon on what appeared to be a brief but sharp spike in buying caused by triggered stop-losses………………………………………..Full Article: Source

UK envoy: Carbon pricing ‘too sluggish’ to meet climate goals

Posted on 26 April 2016 by VRS  |  Email |Print

Carbon pricing is “too sluggish a weapon” against climate change, top UK envoy Sir David King said on Monday. Speaking at a sustainability event in London, Sir David argued innovation to bring down the cost of clean technology would bring swifter results.
“I don’t think it [carbon pricing] is a fast enough driver for change,” he told Climate Home on the sidelines. “It needs to go hand in hand with other regulatory systems.” His stance contrasts with the priorities of neighbouring France and indeed the UK government’s line within the EU………………………………………..Full Article: Source

US: Compliance entities calling for straight-line approach to 2030 cap

Posted on 26 April 2016 by VRS  |  Email |Print

Multiple California compliance entities are asking the Air Resources Board (ARB) to take a straight-line approach to determine caps post-2020 rather than reconfiguring the cap in 2021 to estimated emissions, according to comments submitted to the regulator.
The ARB, California’s cap-and-trade regulator, is working to make changes to its programme ahead of the third compliance period. Any amendments passed would not be effective until October 2017………………………………………..Full Article: Source

Govt’s action over carbon credits criticised

Posted on 25 April 2016 by VRS  |  Email |Print

The government has not done enough to show fake carbon credits will not be used by New Zealand again, an author into a report on the issue says. New Zealand buys carbon credits from other countries which have reducing carbon emissions to offset its own rising levels.
But a recent report accused New Zealand of cheating. The report, by the Morgan Foundation of philanthropist Gareth Morgan, said in some cases the credits bought were fraudulent. It said they were coming from countries that had not actually cut their emissions and did not represent true emissions reductions………………………………………..Full Article: Source

Carbon Pricing Becomes a Cause for the World Bank and I.M.F.

Posted on 25 April 2016 by VRS  |  Email |Print

The World Bank and International Monetary Fund are pressing governments to impose a price tag on planet-warming carbon dioxide emissions, using economic leverage and technical assistance that institutions like the United Nations cannot muster.
The campaign by two of the largest international lenders comes as world leaders have begun to sign the Paris agreement on climate change, the United Nations accord that is supposed to commit nearly every country to take action to reduce emissions of greenhouse gases. The document opened for signatures on Friday and will remain open for a year………………………………………..Full Article: Source

Pressure grows for price on carbon ahead of UN signing

Posted on 22 April 2016 by VRS  |  Email |Print

A group of world leaders and international finance chiefs has urged the world to rapidly expand the pricing of carbon pollution. They argue that more than half of emissions of CO2 should be covered by a carbon price within a decade.
India has also called on rich countries to put a tax on coal to help poorer nations adapt to climate change. These calls came ahead of a UN ceremony where some 155 countries are expected to sign the Paris Climate Agreement………………………………………..Full Article: Source

Carbon Pricing Panel – Setting a Transformational Vision for 2020 and beyond

Posted on 22 April 2016 by VRS  |  Email |Print

The Paris Agreement is a major global achievement, and lays the groundwork for collective action to limit warming well below 2 degrees. Now, the world’s attention is focused on the policies and actions that can deliver on the promise of COP21, achieve the goals of the Paris Agreement, and drive greater ambition.
Carbon pricing has a key role to play, as one of the most effective measures available to reduce climate pollution at the scale and pace the science demands………………………………………..Full Article: Source

NZ government embroiled in carbon credit scandal

Posted on 21 April 2016 by VRS  |  Email |Print

The New Zealand government may have participated in major climate fraud through the use of dodgy “hot air” carbon credits issued by the Ukraine and Russia, according to a new report from the Morgan Foundation.
The Emissions Reduction Units from the two countries did not represent true emissions reductions, Morgan Foundation economist Geoff Simmons said. His report, Climate Cheats, also said that proportional to national emissions, NZ had been the largest purchaser of the credits worldwide through its Emissions Trading Scheme to the tune of $200 million………………………………………..Full Article: Source

Carbon capture and storage to be tested by oil companies in Australia

Posted on 21 April 2016 by VRS  |  Email |Print

The idea that significant amounts of greenhouse gases can be buried underground will be tested soon at a remote island off northwest Australia, where oil companies led by Chevron Corp. are poised to inject pollutants two kilometres into the Earth’s crust.
The $2-billion carbon capture and storage (CCS) project at Barrow Island about 60 kilometres off the coast will be the biggest of its kind when it starts by next year. It’s part of the gigantic Gorgon liquefied natural gas development, which began production last month after $54-billion (U.S.) of investment and will run for four decades………………………………………..Full Article: Source

NZ government embroiled in carbon credit scandal

Posted on 20 April 2016 by VRS  |  Email |Print

The New Zealand government may have participated in major climate fraud through the use of dodgy “hot air” carbon credits issued by the Ukraine and Russia, according to a new report from the Morgan Foundation. The Emissions Reduction Units from the two countries did not represent true emissions reductions, Morgan Foundation economist Geoff Simmons said.
His report, Climate Cheats, also said that proportional to national emissions, NZ had been the largest purchaser of the credits worldwide through its Emissions Trading Scheme to the tune of $200 million………………………………………..Full Article: Source

Rise in emissions at Irish companies in trading scheme

Posted on 20 April 2016 by VRS  |  Email |Print

Greenhouse gas emissions from Irish companies in the EU Emission Trading Scheme rose by almost 6% last year, to the highest level in four years. According to the Environmental Protection Agency emissions from the cement and aviation industries grew by 11%.
Emissions from the power generation sector were also markedly up, around 5.3%, driven by an increase in use of the coal-fired plant at Moneypoint for electricity generation. The food and drink sector saw a 4.6% rise in its emissions………………………………………..Full Article: Source

EU ETS needs minimum price to counter traders’ “betting shop” -study

Posted on 19 April 2016 by VRS  |  Email |Print

The EU should impose a minimum EU ETS price to create more certainty for investors and counter a recent trend that has allowed it to become a “betting shop for policy decisions”, German researchers recommended.
Researchers from think-tanks Mercator Research Institute, the Potsdam Institute, and the Berlin Technical University, examined 29 political events over 2008-2014, and published their findings in the Journal of Environmental Economics and Management………………………………………..Full Article: Source

Call for ETS overhaul after dodgy carbon credits bought

Posted on 19 April 2016 by VRS  |  Email |Print

Forest And Bird have joined other environmental groups calling for the Government to overhaul the Emission Trading Scheme. A report released from the Morgan Foundation reveals New Zealand business have been buying fraudulent carbon credits form Russia, with the knowledge of the Government.
Forest and Bird’s Geoff Keey said the overhaul should start by getting rid of dodgy, possibly corrupt carbon credits. He said our government is undercutting our future by allowing the use of these credits to continue………………………………………..Full Article: Source

‘Hot air’ carbon credits not Govt’s fault - trader

Posted on 18 April 2016 by VRS  |  Email |Print

Although there were some dubious carbon credits traded in the past, it is an over-generalisation to say they were all fraudulent, a carbon trader says. A report from the Morgan Foundation says carbon credits bought from other countries to offset rising New Zealand emissions since 1990 were often fictitious.
It argued that one type of credit (the Emission Reduction Unit) was overcome by fraud and corruption in Ukraine and Russia - these were labelled ‘hot air’ credits………………………………………..Full Article: Source

ADB pushes low carbon development plan for Asia

Posted on 18 April 2016 by VRS  |  Email |Print

The Asian Development Bank urged countries in the Asia-Pacific region to start the transition to a low carbon energy future to combat climate change and achieve sustainable green growth. The multilateral lending institution said without a proactive action to reduce carbon emissions, the region would easily account for more than 40 percent of global emissions in the next decade.
“With high rates of economic growth, the region must pursue a low carbon development path and make its contribution in cutting greenhouse gas (GHG) emissions to keep global warming well below two degrees Celsius compared to pre-industrial levels,” said Carmela Locsin, director general of ADB’s Sustainable Development and Climate Change department………………………………………..Full Article: Source

Carbon Pricing: An Inevitable Opportunity

Posted on 15 April 2016 by VRS  |  Email |Print

Regarding climate change, the global community has excelled in procrastination. But time is running out. The scientific evidence is mounting, and the impact of severe climate changes is more tangible than ever. It is time for the global community to take responsibility and lead the way forward to implement a price on carbon.
The COP21 Paris Agreement brought us closer to a future of low-fossil-carbon prosperity. A future, in which those who emitted the least greenhouse gasses won’t have to face droughts, floods, and other devastating effects, resulting in poverty, migration and conflicts………………………………………..Full Article: Source

EU Lawmaker Proposes Changes to Free Carbon Permits Allocation

Posted on 15 April 2016 by VRS  |  Email |Print

The European Union should change its rules on handing out permits to emit carbon dioxide after 2020 to better protect businesses at risk of relocating to regions without pollution curbs, according to a proposal by European Parliament member Fredrick Federley.
Federley, the lead lawmaker on EU carbon-market reform in the Parliament’s industry committee, seeks to modify a draft law by the European Commission through introducing varying levels of free permit allocation to companies………………………………………..Full Article: Source

EU Market: EUAs dip to take breather after fortnight of stellar gains

Posted on 14 April 2016 by VRS  |  Email |Print

European carbon took a breather on Wednesday following two weeks of gains that saw prices rise by as much as 18% to hit a 10-week high of €5.67 on Tuesday. Front-year EU Allowance futures trading on ICE settled down 5 cents at €5.54 on light volume of 8.7 million units.
The benchmark contract touched its intraday high of €5.63 in the opening minutes, but slid down to the session low of €5.46 just after 0700 GMT. The Dec-16s climbed back to then drift around the €5.50-5.55 level for most of the rest of the day………………………………………..Full Article: Source

Green bandwagon is back on the road

Posted on 14 April 2016 by VRS  |  Email |Print

The ancient Chinese philosopher Laozi once said a journey of a thousand miles begins with a single step. Which is true enough, but it helps if the step is in the right direction. Backers of a renewable energy boom were forced into a U-turn as recently as 2009, when state subsidies were slashed, the credit crisis ended access to easy finance, and cut-throat competition arrived from China.
Energy ventures fell in value by two thirds. Several went bust. Established energy companies reduced their involvement. Europe’s carbon trading market suffered. But a view is rapidly developing that clean energy is set to enjoy a renaissance, with the United Nations providing impetus from an agenda for sustainable development, approved by its general assembly in October, followed by a political deal on action to combat climate change in Paris………………………………………..Full Article: Source

We must close the loopholes in Britain’s carbon budget

Posted on 13 April 2016 by VRS  |  Email |Print

This is our opportunity to fix the accounting rules and keep national emissions within UK carbon budgets. Last month the government made a landmark decision to reduce the UK’s greenhouse gas emissions to zero sometime this century. This makes Britain the first country to commit to one of the key pledges in the Paris climate agreement reached last December.
This decision was prompted by a tireless, non-partisan campaign led by former Labour leader Ed Miliband, the UK’s first ever secretary of state for energy and climate change. Securing this commitment is an important new climate milestone for Miliband, who played a key role in establishing the UK Climate Change Act when he was in government………………………………………..Full Article: Source

EU ETS in need of ‘ambitious’ revamp, MEPs warn

Posted on 12 April 2016 by VRS  |  Email |Print

The European Union (EU) has been urged to revamp its Emission Trading System (ETS) to allow for free allowances to be given to the industries that need them most, even though it was revealed that struggling Tata Steel has received £700m from the ETS since 2008.
The EU’s Assembly of Regional and Local Representatives (CORs), has today (11 April) released a skeleton report outlining the recommended changes that should be made to the ETS in order to create “a more ambitious and forward-looking approach”………………………………………..Full Article: Source

Climate change plan: thinktank suggests policy both sides of politics can embrace

Posted on 12 April 2016 by VRS  |  Email |Print

The Grattan Institute has proposed adapting the Coalition’s Direct Action into a bipartisan policy that effectively cuts emissions. A climate change policy that could be both effective, and potentially supported by both major parties, has been proposed by the Grattan Institute in a new report that tries to find a pragmatic solution to the decade of toxic political debates on the issue.
Media reports have emerged suggesting Labor would adopt a policy of opening an inquiry into Australia’s energy industry, and shutting down the oldest and dirtiest power stations to lower emissions and create more demand for renewable energy………………………………………..Full Article: Source

Here’s a way to make carbon markets work better

Posted on 11 April 2016 by VRS  |  Email |Print

Carbon markets could play a crucial role in delivering promises made at the Paris climate conference. The idea behind carbon markets is simple. A government issues a limited number of permits, which companies can then trade in return for the right to emit a certain amount of the pollutant.
As companies scramble to obtain these permits in the carbon market, the price adjusts. High demand for permits will drive up price, and vice versa. Carbon is measured by the tonne emitted and, crucially, all companies within a particular country face the same price………………………………………..Full Article: Source

Israel to cut carbon emissions

Posted on 11 April 2016 by VRS  |  Email |Print

Israel’s cabinet has unanimously approved a plan for reducing greenhouse gases and increasing energy efficiency to benefit the economy. Government officials expect the cumulative benefit to Israel’s economy would reach more than 30 billion shekels ($A10.5 billion), the finance, energy, environment and economy ministries said in a statement.
“We intend to continue to invest in resources as needed to further reduce air pollution and greenhouse gas emissions,” Finance Minister Moshe Kahlon said………………………………………..Full Article: Source

European diplomats criticise UN plan to curb airline emissions

Posted on 08 April 2016 by VRS  |  Email |Print

ICAO blueprint criticised for having too many exemptions to be credible, too little detail to be trustworthy and for contradicting Paris climate deal. A draft UN plan to offset the air industry’s surging growth in emissions contains too many exemptions to be credible and too little detail to be trustworthy, European diplomats say.
Aviation is one of only two sectors not covered by the Paris climate agreement and many diplomats are optimistic that the UN International Civil Aviation Organisation (ICAO) blueprint can be whittled into shape before a Montreal conference this September………………………………………..Full Article: Source

EU referendum: UK risks losing energy and climate policy influence

Posted on 08 April 2016 by VRS  |  Email |Print

As controversial government leaflet warns Brexit could undermine UK efforts to tackle climate change, leading think tanks highlight damage a vote to leave may do to green businesses. As the row over the potential implications of for both the environment and the economy continues to rumble on, the government and two leading think tanks have this week warned Brexit could undermine UK energy and climate policy, hampering investment and green business prospects in the process.
The government today sparked the latest angry exchanges with the Leave campaign with the news it is to spend £9m sending a leaflet to all 27 million households in the UK setting out the case for remaining in the EU………………………………………..Full Article: Source

Carbon Recovers as Germany Open to Talks on Stronger EU Market

Posted on 07 April 2016 by VRS  |  Email |Print

European Union carbon-dioxide prices rebounded as the German environment ministry said it is willing to consider measures that would strengthen the European Union’s emissions trading system.
Prices in the world’s biggest cap-and-trade carbon program rose as much as 2.1 percent to 5.35 euros a metric ton, the highest level in six weeks. They are still 34 percent down this year amid a persistent oversupply of permits to pollute. The market failed to draw support from the global climate deal reached in Paris and and EU agreement to introduce in 2019 the Market Stability Reserve, a tool which will help limit the glut of allowances………………………………………..Full Article: Source

Carbon Market Signals Utilities Slower to Lock Down Profit

Posted on 07 April 2016 by VRS  |  Email |Print

For the latest sign of how solar and wind is crowding out fossil-fuel generation at Europe’s utilities, take a look at the region’s carbon market. Aggregate open interest, a measure of open trading positions, dropped a record 36 percent as of March 31 from when the annual benchmark contract expired on Dec. 14, according to data from the ICE Futures Europe exchange.
Since utilities typically sell power in advance and buy carbon allowances at the same time, the decline may indicate slowing sales as renewable electricity typically has priority access to grids………………………………………..Full Article: Source

Thailand aiming to lead the region in reduction of greenhouse gases

Posted on 06 April 2016 by VRS  |  Email |Print

Thai officials have hailed the World Bank for a US$3-million (Bt105-million) grant to help the country join the bank’s Partnership for Market Readiness (PMR), and said Thailand wants to lead the region in reducing greenhouse gases.
Prasertsuk Chamornman, executive director of the Thailand Greenhouse Gas Management Organisation (TGO), said yesterday that it took years to complete the proposals with input from all stakeholders. “Thailand’s proposals are among the best from developing countries. By value, the grant is nothing. But it confirms international recognition that we can take a leading role in the region in several aspects to reduce greenhouse gases and combat climate change,” she said………………………………………..Full Article: Source

Lead EU carbon policymaker calls for end to UK price floor to help steel

Posted on 06 April 2016 by VRS  |  Email |Print

Britain should abolish its carbon floor price to help the hard-hit steel industry, the lawmaker shepherding a reform of the EU Emissions Trading System (ETS) through parliament said on Tuesday.
With the British government looking for ways to save jobs threatened by the sale of Indian firm Tata Steel’s British plants, Scottish Conservative Ian Duncan said repealing the carbon floor was one of the few tools available to it. “The carbon floor price must go,” Duncan said, adding he would write to British Business Secretary Sajid Javid calling for an end to the policy in place since 2013………………………………………..Full Article: Source

What you don’t know about carbon pricing

Posted on 05 April 2016 by VRS  |  Email |Print

We’ve been looking through the Ontario government’s promotion of its looming cap-and-trade carbon pricing scheme starting next year and here are some of the things Premier Kathleen Wynne’s Liberals aren’t telling you.
While the government says it will reward innovative companies that reduce greenhouse gas emissions linked to climate change, what it doesn’t say is that it will do so with your money, due to higher prices for virtually all goods and services, plus the rewarding of free money to industry in the form of free carbon credits………………………………………..Full Article: Source

China’s Plan to Launch Greenhouse Gas Cap and Trade System in 2017 Can Open Up Billion Dollar Market for Cemtrex (CETX)

Posted on 05 April 2016 by VRS  |  Email |Print

Cemtrex Inc., a world leading industrial and manufacturing solutions company, announced today that it sees the Chinese government’s recent efforts to implement a cap and trade program to reduce greenhouse gases as having the potential to open a huge new market based on the Company’s existing VAMOX methane reduction technology. China’s plan is to launch a national emission trading system in 2017, covering key industries including power generation, iron and steel, chemicals, building materials, paper-making, and nonferrous metals.
Recently, China made commitments to fund over $3 billion for climate change initiatives which is an important departure from their previous “unproductive” position where they demanded that funds should flow from developed to developing nations for world climate control. This move has implications for U.S. domestic climate legislation as Beijing’s cap and trade announcement directly undermines U.S. policymakers who have historically argued that China’s participation in climate mitigation policy is a prerequisite for U.S. action in this arena. (Press Release)

Carbon stamp is not the only answer

Posted on 04 April 2016 by VRS  |  Email |Print

Over the last 10 years, “climate change” has become almost synonymous with “carbon emissions”. The reduction of greenhouse gases in the atmosphere, measured in tonnes of “carbon equivalents” (CO2e) has emerged as the paramount objective in the quest to preserve the planet. But such a simplistic approach cannot possibly resolve the highly complex and interconnected ecological crises that we currently face.
Global environmental policy’s single-minded focus on “carbon metrics” reflects a broader obsession with measurement and accounting. The world runs on abstractions — calories, miles, pounds, and now tonnes of CO2e — that are seemingly objective and reliable, especially when embedded in “expert” (often economic) language……………………………………….Full Article: Source

CO2 Emission Growth slowed in recent years

Posted on 04 April 2016 by VRS  |  Email |Print

The growth of global CO2 Emission has been slowed in recent years of rising rapidly, a new study points out just days before Paris climate summits. After a decade of rapid growth in global CO2 emissions, which increased at an average annual rate of 4 percent, much smaller increases were registered in 2012 (0.8 percent), 2013 (1.5 percent) and 2014 (0.5 percent).
In 2014, when the emissions growth was almost at a standstill, the world’s economy continued to grow by 3 percent. The trend over the last three years thus sends an encouraging signal on the decoupling of CO2 emissions from global economic growth………………………………………..Full Article: Source

EU Carbon Plan Emissions Fall as Mild Winter Cuts Power Use

Posted on 04 April 2016 by VRS  |  Email |Print

Pollution by companies in the European Union’s emissions cap-and-trade program, the world’s largest, fell by 0.8 percent last year as warmer-than-average weather reduced demand for electricity.
Preliminary EU data implies pollution in the bloc’s emissions trading system fell to 1.796 billion metric tons, the lowest since the market started in 2005, according to Bloomberg New Energy Finance. The estimate excludes airlines, which together with more than 11,000 installations owned by utilities and manufacturers are also a part of the EU ETS, Europe’s flagship policy tool to reduce greenhouse gases blamed for climate change………………………………………..Full Article: Source

The Brave New World of Carbon Pricing

Posted on 01 April 2016 by VRS  |  Email |Print

Worldwide, carbon pricing has become a cornerstone policy tool for tackling climate change. Regions pricing carbon have grown exponentially since 2009—with the majority of this “bottom-up” growth taking the form of greenhouse gas cap-and-trade programs.
According to the International Carbon Action Partnership’s Status Report 2016, 40 percent of global GDP is covered by an emissions trading system (ETS)—a figure projected to increase to 49 percent in 2017. By this time next year, some 16 percent of global emissions will be covered by ETS, up from only 4 percent in 2004………………………………………..Full Article: Source

EU-regulated 2015 CO2 emissions expected to show little change on year Apr 1

Posted on 01 April 2016 by VRS  |  Email |Print

Analysts’ forecasts for regulated carbon dioxide emissions under the EU Emissions Trading System in 2015 show a mixed picture ahead of data due for release Friday, with a rough consensus pointing to a modest increase or decrease from 2014 levels.
That compares with a significant 4.6% drop in regulated CO2 emissions in 2014 from the previous year. The EC’s annual data due Friday represent the most authoritative figures showing CO2 emissions across the 31-nation system, revealing underlying demand for carbon allowances from more than 11,000 installations across Europe………………………………………..Full Article: Source

New climate campaign moves full steam ahead

Posted on 31 March 2016 by VRS  |  Email |Print

Home to the second largest coal facility in the country, Montana makes for an interesting case study in dealing with Obama’s climate rules. It’s one of 27 states challenging the Clean Power Plan and one of 20 that has halted compliance work following the Supreme Court’s stay of the rule.
Today we’ll hear what’s next for the state and its coal industry, as Attorney General Tim Fox, Cloud Peak CEO Colin Marshall, and Montana Public Service Commission Vice Chairman Travis Kavulla gather in Billings for an energy conference hosted by Senate coal champion Steve Daines………………………………………..Full Article: Source

Beyond Carbon Metrics

Posted on 30 March 2016 by VRS  |  Email |Print

Over the last ten years, “climate change” has become almost synonymous with “carbon emissions.” The reduction of greenhouse gases in the atmosphere, measured in tons of “carbon equivalents” (CO2e) has emerged as the paramount objective in the quest to preserve the planet.
But such a simplistic approach cannot possibly resolve the highly complex and interconnected ecological crises that we currently face. Global environmental policy’s single-minded focus on “carbon metrics” reflects a broader obsession with measurement and accounting………………………………………..Full Article: Source

Is a global aviation emissions deal quietly being prepped for takeoff?

Posted on 30 March 2016 by VRS  |  Email |Print

Could September see the delivery of the second historic international climate change deal in less than 12 months? That is the hope shared by a growing band of businesses and NGOs who are increasingly optimistic the Paris Agreement could be followed later this year by a long-awaited deal to tackle aviation emissions.
The U.N.-backed International Civil Aviation Organization (ICAO) is to meet in September to discuss a series of proposals for tackling emissions from the global industry, including a recently published Draft Resolution for a Market-Based Measure which could usher in a global carbon market for aviation………………………………………..Full Article: Source

China takes up challenge to improve environment

Posted on 29 March 2016 by VRS  |  Email |Print

Recently, as a friend and I were discussing our passion for travelling, I invited her to visit me in Shanghai. To my surprise, her answer wasn’t an immediate yes, but a hesitant nod accompanied by questions: Isn’t air pollution really severe there, though? Do I have to wear a face mask every day?
While there seems to be a general consensus about the environmental crisis in China, highlighted by media attention on periodic “airpocalypses” in Beijing, little is known about the efforts that China has put into saving its environment from rampant degradation. When government policies and private sector efforts add up, the result is an amazing combination of economic growth, better environment and improved standards of living………………………………………..Full Article: Source

The Strange Case of Australia’s Flip-Flopping on Climate Change

Posted on 24 March 2016 by VRS  |  Email |Print

In another zig-zag on Australia’s climate and energy policy, Australian Prime Minister Malcolm Turnbull said he will establish a $760 million clean-energy innovation fund to invest in emerging technologies. Known as the Clean Energy Innovation Fund, the new program is a 180-degree pivot from the policies of Turnbull’s predecessor, Tony Abbott, who strongly supported Australia’s coal industry and derided efforts to set up a carbon-trading system.
Among developed economies, Australia is one of the most vulnerable to climate change, with the Great Barrier Reef suffering serious degradation, and wildfires that decimate the countryside………………………………………..Full Article: Source

China likely to allow banking of pilot CO2 permits, reduce free allocation

Posted on 24 March 2016 by VRS  |  Email |Print

China is likely to let allowances from the pilot carbon markets be banked to the national emissions trading system, but at the expense of reduced allocation levels, the market’s lead architect said Wednesday.
Chinese carbon traders are awaiting clarity on the fate of millions of surplus allowances from the seven regional pilots when the national ETS launches next year. Ruling the units ineligible would likely see pilot prices drop to near zero for the next 15 months………………………………………..Full Article: Source

How close are we to a global market for aircraft emissions?

Posted on 23 March 2016 by VRS  |  Email |Print

More than 50,000 new large aircraft are expected to take to the skies by 2040 as demand for international aviation skyrockets in emerging markets and beyond. As a result, emissions from the industry are forecasted to triple or quadruple over the next couple of decades – and none of this pollution is covered by the Paris climate agreement.
While important efforts are underway to boost the efficiency of airplanes and to find more environmentally friendly fuels, they won’t be nearly enough to meet our climate goals. We need a policy proven to drive down emissions: A cap on total emissions from aviation, coupled with a market-based trading system that offers airlines incentives for flying cleaner………………………………………..Full Article: Source

banner
April 2016
S M T W T F S
« Mar    
 12
3456789
10111213141516
17181920212223
24252627282930