Carbon News

California Adopts Regulation to Link Carbon Markets With Quebec

Fri, 19 Apr 2013 00:00:00 -0700

California, the world’s ninth-largest economy, adopted rules to link carbon markets with the Canadian province of Quebec, a move that will allow companies to trade emissions allowances across the border.

The California Air Resources Board approved changes to the state’s cap-and-trade regulation that align its carbon system with that of Quebec and clears the way for links to other governments in the future. Governor Jerry Brown approved the connection with Quebec last week, saying the province’s program was aggressive enough with its emissions targets and designed similarly enough to work in tandem with California’s system.

Read the full article in Bloomberg.

Australian CO2 emissions hit 10-year low

Thu, 11 Apr 2013 00:00:00 -0700

Australia's greenhouse gas emissions from electricity generation have fallen to a 10-year low as coal-fired power slumped to its lowest level in a decade, a new report says.

At the same time, the share of renewable energy in the National Electricity Market (NEM) has soared beyond 12 per cent and looks set to continue rising.

Read the full article in The Australian.

California governor gives green light to Quebec CO2 market link

Thu, 11 Apr 2013 00:00:00 -0700

California Governor Jerry Brown on Monday threw his support behind the state’s effort to link its carbon market with Quebec next year, a move that will expand the world’s second largest carbon market.

The approval means the two regions will link their emission markets from next year as planned, after a delay at the Governor’s office recently had cast doubt as to whether the plan could be implemented in time.

Read full article in Advanced Global Trading.

China to launch carbon trading scheme by mid-June

Mon, 08 Apr 2013 00:00:00 -0700

China's Shenzhen city has become the first in the country to set a launch date for a new carbon emissions trading pilot scheme, as part of a package of measures designed to curb emissions from energy-intensive industries.

Read full article.

Shenzhen Is First in China With June Start for Emissions Trading

Thu, 04 Apr 2013 00:00:00 -0700

Shenzhen, a Special Economic Zone designed to promote market policies in China, will begin emissions trading on June 17, the first announced start date among the country’s regional carbon exchanges.

Mayor Qin Xu announced the schedule in an interview with the Shenzhen Daily newspaper. While Beijing and Shanghai may also start their carbon markets in June, Shenzhen is the first to set a specific date, according to analysts at Bloomberg New Energy Finance.

Read the full article in Bloomberg.

Economist warns of 'radical' climate change, millions at risk

Tue, 02 Apr 2013 23:04:00 -0700

The author of an influential 2006 study on climate change warned Tuesday that the world could be headed toward warming even more catastrophic than expected but he voiced hope for political action.

Nicholas Stern, the British former chief economist for the World Bank, said that both emissions of greenhouse gas and the effects of climate change were taking place faster than he forecast seven years ago.

Read the entire article in France 24.

Climate Maverick to Retire From NASA

Mon, 01 Apr 2013 00:00:00 -0700

James E. Hansen, the climate scientist who issued the clearest warning of the 20th century about the dangers of global warming, will retire from NASA this week, giving himself more freedom to pursue political and legal efforts to limit greenhouse gases.

His departure, after a 46-year career at the space agency’s Goddard Institute for Space Studies in Manhattan, will deprive federally sponsored climate research of its best-known public figure.

Read the full article in The New York Times.

What’s the best way to design a carbon tax? Lawmakers ask for suggestions.

Wed, 13 Mar 2013 00:00:00 -0700

On Tuesday, four Democrats in Congress unveiled a brand-new proposal for a carbon tax. The set-up is simple: The U.S. government would slap a fee on fossil-fuel emissions and refund the revenue back to the public.

But there’s a twist: The precise details of the carbon tax have yet to be thrashed out. The four lawmakers are soliciting public comments for how big the tax should be and how best to rebate the money.

Read the full story in The Washington Post.

Clean Fuel From Trash, Crop Waste to Match Corn-Ethanol by 2016

Tue, 12 Mar 2013 00:00:00 -0700

Ethanol made from inedible matter such as crop waste and household trash will match the price of corn-based ethanol by 2016, potentially spurring output of the motor fuel, according to data compiled by Bloomberg.

Cellulosic ethanol costs about 94 cents a liter to produce, about 40 percent more than ethanol from corn, Bloomberg New Energy Finance said today in a statement. That gap will probably close within three years, according to a BNEF survey of 11 of the industry’s biggest companies.

Read the full article in Bloomberg.

Canadians are ready for a carbon tax. Is anyone listening?

Mon, 11 Mar 2013 00:00:00 -0700

Climate change is once again emerging as a pressing global issue, and it is becoming increasingly clear that substantial actions will need to be taken. What to do?

An increasing number of experts and opinion leaders are concluding the solution lies in harnessing the market to put a proper price on carbon, which will provide concrete incentives for businesses and consumers to reduce greenhouse gas emissions that collectively will make a difference. This approach is now being adopted around the world, in such jurisdictions as California, Australia, Norway, Ireland and the European Union. China has recently announced plans to implement a new tax on greenhouse emissions.

Read the full article in The Globe and Mail.

Japan May Revive Carbon Trading Discussion After Election

Sun, 10 Mar 2013 00:00:00 -0800

The Japanese government may revive discussions about a carbon market that would reduce pollution levels after elections for the Upper House of parliament due in July, a government adviser said.

Takashi Hongo, a senior fellow at Mitsui Global Strategic Studies Institute and a delegate for Japan at United Nations climate talks, said ministers are likely to consider building a market for carbon dioxide emissions credits later this year.

Read the full article in Bloomberg.

California Considering 25 Projects for Carbon Offset Credits

Fri, 08 Mar 2013 00:00:00 -0800

California, the second-largest carbon-polluting state in the U.S. behind Texas, will decide whether to award its first carbon offset credits for 25 projects designed to cut greenhouse-gas emissions.

The candidates for offset credits include a project to improve forest management practices to avoid emissions related to timber harvesting and several to destroy biogas at farms, according to a list posted on the state Air Resources Board’s website. All of the projects must be reviewed by a certified “offset verifier” and then by the air board itself before being deemed eligible.

Read the full article in Bloomberg.

Australia Needs Global Carbon Trading Now, Industry Lobby Says

Wed, 06 Mar 2013 00:00:00 -0800

Australia should scrap its fixed price on carbon because it puts domestic companies at a disadvantage and immediately start emissions trading linked to global markets, the nation’s top industry lobby group said.

“Australian businesses could be taking advantage of these low international prices through emissions trading,” the Australian Industry Group said in an e-mailed statement today. “Instead we are stuck with the government’s high fixed prices.” The group also expressed reservations about the climate strategy proposed by the opposition party favored to win an election scheduled for Sept. 14.

Read the full article in Bloomberg.

OECD: Oil Prices Could Reach $150-$270 By 2020

Wed, 06 Mar 2013 00:00:00 -0800

Oil prices could rise to anywhere between $150 and $270 a barrel by 2020 as demand growth in emerging markets like India and China out paces expected supply, the OECD said Wednesday.

"I think people have been calmer about oil prices given the new supply, but if you really look at the implications of rising demand, you see this isn't true," said Isabelle Koske, economist at the Organization for Economic Co-Operation and Development and one author of a report on oil prices published Wednesday.

Read the full article in The Wall Street Journal.

Why we need innovative finance models to tackle climate change

Mon, 04 Mar 2013 00:00:00 -0800

Finance is at the heart of the response to climate change. For the world to stay below the internationally agreed 2C temperature rise, we need a further dramatic capital shift towards a low-carbon economy. This will only be possible if financial resources flow into low carbon technologies, renewable energy and energy efficiency faster and at a significantly larger scale.

The good news is that the global attitude towards clean energy investment and the need to adapt to climate change has already shifted. Many businesses, including some of the largest institutional investors, increasingly recognise the risks of climate change and the opportunities of low-carbon investments. This was most recently highlighted in a 2013 report by the World Economic Forum.

Read the full article in The Guardian.

Energy firms plan for higher carbon costs

Sun, 03 Mar 2013 00:00:00 -0800

Canada’s energy companies are factoring a carbon price into their business planning, even in the absence of federal climate regulations.

In a survey to be released Monday, 10 of the country’s top oil and gas and power companies say they currently use a “shadow carbon price” to quantify and manage the risk of higher costs that would arise from future carbon constraints.

Read the full article in the Globe and Mail.

Study of Ice Age Bolsters Carbon and Warming Link

Thu, 28 Feb 2013 00:00:00 -0800

A meticulous new analysis of Antarctic ice suggests that the sharp warming that ended the last ice age occurred in lock step with increases of carbon dioxide in the atmosphere, the latest of many indications that the gas is a powerful influence on the earth’s climate.

Previous research suggested that as the world began to emerge from the depths of the ice age about 20,000 years ago, warming in Antarctica preceded changes in the global carbon dioxide level by something like 800 years.

Read the full article in The New York Times.

The climate change abolitionists

Wed, 27 Feb 2013 00:00:00 -0800

Lincoln is a beautiful movie, and Daniel Day-Lewis deserves the Oscar he won for bringing such an important president to life. But the character that grabbed my attention was the curmudgeonly Thaddeus Stevens, played by the somewhat curmudgeonly Tommy Lee Jones.

As portrayed in the movie, Stevens was the leading congressional abolitionist, a man with moral clarity who demanded equality for all human beings. In the abolitionists' fight for what they knew to be true, I saw deep parallels with the work of modern leaders fighting for action on climate change. I'm thinking of brave activists such as Bill McKibben, who gathered 50,000 people last week to march on Washington, scientists such as Jim Hansen and Michael Mann, and many other leaders in politics, business, and civil society. The metaphor of slavery to climate change is not perfect. But there's a strong sense of déjà vu about the people working for change, their uphill battles, the arguments they face and, unfortunately, how long it takes them to win.

Read the full story in The Guardian.

South Africa to tax carbon emissions from 2015

Wed, 27 Feb 2013 00:00:00 -0800

South Africa, the continent's top greenhouse gas producer, plans to tax carbon emissions from January 2015, but will introduce some exemptions to protect industry and jobs, South Africa’s finance minister said on Wednesday.

The tax, set at 120 rand ($14) per tonne of carbon dioxide equivalent, has been criticised by carbon-intensive companies such as petrochemicals giant Sasol and ArcelorMittal South Africa who argue the state’s attempt to curb emissions blamed for global warming would hit profits.

Read the full story in Reuters.

Feeding Ourselves on a Warming Planet

Tue, 26 Feb 2013 11:40:36 -0800

As has often been noted here on the Green blog, one of the biggest uncertainties humanity faces regarding climate change is the potential effect on the world’s food supply.

If there is a risk that global warming and related changes could hit much sooner and much harder than scientists are expecting, agriculture could be the crucial realm where that occurs. In fact, we have already entered an era of sharply higher global food prices, with climate change as one of the likely causal factors.

Read the full article in the New York Times Green blog.