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| Sourced From Risk.net |
News and market analysis provider Point Carbon has lowered its price forecast for European Union Emissions Allowances (EUAs) for 2013 by €2 to €28 per ton of carbon dioxide. It has also lowered its 2016 price forecast by €3 to €37/tn. The original forecasts of €30 and €40 were made in May.
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| Sourced From Finextra.com |
The Nasdaq OMX Group (NASDAQ:NDAQ) announces that Nasdaq OMX has expanded its cooperation with the Polish Power Exchange, Towarowa Giełda Energii (TGE).
TGE has signed agreements for joining the NASDAQ OMX carbon market and extended its trading technology agreement with NASDAQ OMX.
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| Sourced From Reuters |
LONDON (Reuters) – European carbon emissions futures climbed to a new four-month high on Friday, tracking crude oil gains and pushing through a key resistance level of 15 euros, traders said.
Continue Reading on Reuters
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| Sourced From CommodityOnline.com |
LONDON: Intensive energy consuming industries as steel, aluminium, cement and paper industries will have to invest in emission-reduction technologies to offset expected increase in power cost and the need to abide by mandate on emission reductions.
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LONDON (Reuters) – European carbon emissions will continue to be volatile to the end of the year, with prices expected to tighten to 13 euros or lower if industrial output figures and the economic newsflow do not improve.
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Auctioning is becoming more and more relevant as a national allocation method within the EU ETS. Germany has announced it will be auctioning 40 million EUAs at the latest from 2010 on. The UK will auction its first volume mid November and Austria is planning to auction the 2008 EUAs early December.
Continue
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OCTOBER HIGHLIGHTS:
* ECX October volumes reached a total of 412 Mt, exceeding the previous monthly record from July 2008 (346 Mt) and representing a 283% increase over the same month last year.
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Carbon has collapsed nearly six per cent as recession fears look to become a reality – at least in the minds of carbon traders, broker OMFinancial reports.
The first four secondary CER vintages are now trading under €17.00 – almost the lowest point since April this year - and the front EUA vintage is below €20.
Full Article Available to CarbonNews Subscribers
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OK. I am beginning today with some top stories which you won’t want to miss even if you are in a hurry. These will be followed with the usual stories for each region. I have tried to include news from the last 2 days so that you don’t miss anything. So let’s begin:
Top Stories
Japan CO2 trial to woo emitters with voluntary curbs
Reuters UK
Japan’s planned CO2 trading scheme should be based on voluntary targets for emission cuts instead of mandatory ones to …
New York scheduled to join December carbon auction
Reuters
New York state is expected to sell carbon credits in the United States’ second greenhouse gas auction, which is scheduled for …
USA: ULCOS,Not ArcelorMittal Considering EUR300M CO2 Proj
Trading Markets (press release), CA
Separately ULCOS is also considering building an …
Australia: Website to rank carbon offset providers
ABC Regional Online
New South Wales north coast residents can keep big businesses in check thanks to a new website which ranks companies on their carbon offsets. …
Canada: Freeze the carbon tax, board of trade says
Canada.com
Vancouver’s Board of Trade called on the BC government Monday to freeze its carbon tax until more is known about its effects on both the economy and the …
Steel, aluminium at risk under EU CO2 scheme -draft
Forbes, NY
Parts of Europe’s steel and aluminium industries are highly exposed to international competition and could qualify for free …
EU: Carbon markets to be left “more or less unscathed” by financial turmoil
Business Green, UK - 15 minutes ago
The price of carbon credits in Europe’s emissions trading scheme slipped today as the financial crisis gripping the world’s money markets and renewed fears …
UPDATE 1-UK to auction carbon emissions permits on Nov. 19
Forbes
Britain’s first auction of carbon emissions permits under the European Union’s emissions trading scheme (ETS) will be held on …
Asia
First Carbon Trading Firm Launches in South Korea
SustainableBusiness.com, NY
South Korea yesterday announced the launch of it first carbon trading firm, according to reports. South Korea’s Energy minister said Korea Carbon Finance …
PATA actions lessen carbon footprint at India mart
micebtn, Australia
The Pacific Asia Travel Association (PATA) led by example by taking actions towards the greening of PATA Travel Mart 2008 (PTM08), which opened today in …
Australasia
Tractor fumes used to put more carbon in soil
ABC Online, Australia
A grain-growing family in south west New South Wales is taking a different approach to try to improve the health of the soil. This season, the owners of …
Carbon offset industry to be independently tested
Donnybrook Bridgetown Mail, Australia
THE emerging carbon offset industry will be tested under an independent survey in the face of increasing demand for sustainable options. …
Climate Institute Says Carbon Plan Handouts to Hurt Economy
Bloomberg
By Gemma Daley Sept. 18 (Bloomberg) — Australia’s plan to give handouts to big polluting companies to compensate for the cost of a planned carbon-trading …
CO2 signs 30 year Eraring deal
The West Australian, Australia
Carbon credit company CO2 Group has signed a deal with New South Wales Government-owned electricity generating company Eraring Energy that will see the …
Traveston dam carbon imprint claims denied
Sunshine Coast Daily, Australia
Claims the Traveston Crossing Dam would have a carbon imprint higher than any comparable desalination plant have been disputed by the Queensland government. …
Greenair Receives Bids For NZ Forest Carbon Credits Following ETS
Scoop.co.nz (press release), New Zealand
Carbon credit leader GreenAir Ltd today congratulated the New Zealand Government on the introduction of the Emissions Trading Scheme (ETS), saying it has …
New Zealand test flight shows deep cuts in fuel, CO2
SmartBrief, DC
Friday was “a great day for aviation,” said FAA Acting Administrator Robert Sturgell, following the early arrival of a demonstration flight between New …
Canada
EnCana wants credits for carbon piped in from the US
Timmins Daily Press, Canada
A Canadian energy giant wants offset credits from the federal government for carbon dioxide it pipes in from the United States and stores underground in …
Carbon tax must go, James says
Surrey Leader, Canada
By Jeff Nagel – Surrey North Delta Leader Premier Gordon Campbell should scrap his carbon tax in light of broad public opposition that is now also playing …
PM refutes Dion’s proposed carbon tax
Tandem, Canada
By Angelo Perischilli If the Liberal Party approves the “carbon tax,” Ontario will enter a deep recession. These were the words of Prime Minister Harper in …
Greens promise tax cuts for poor and industries that cut carbon …
Canoe.ca, Canada
By Michael Macdonald, THE CANADIAN PRESS HALIFAX – Green Leader Elizabeth May rolled out her party’s election platform Wednesday, complete with a 10-page …
BC residents worried double carbon tax could drive up fuel prices …
The Canadian Press, VANCOUVER
VANCOUVER — Vancouver-area drivers are used to paying some of the highest gas prices in Canada, but a new provincial carbon tax and the threat of a similar …
Unusually hot temperatures slow plants’ carbon uptake, scientists find
CBC.ca, Canada
Tall grasses exposed to an unusually warm year of weather lose some of their ability to capture carbon dioxide from the atmosphere the following year, …
Carbon tax a big election issue
Chilliwack Times, Canada
Thanks to the Chuck Strahl Campaign. Even though I no longer trust Prime Minister Harper and the Conservative Party due to the out right lie and switch of …
Europe
EU lawmakers propose offsets to ease CO2 targets
Reuters
BRUSSELS (Reuters) – An influential committee of European Union lawmakers on Thursday proposed to ease carbon caps in the 27-nation bloc by allowing more …
Germany opposes EU plans on carbon auction
Life Style Extra, UK
BERLIN, Sept 18 (Reuters) – Germany wants to limit industry purchases of emissions permits to cover no more than 20 percent of their carbon emissions caps …
Only 62% of the FT 500 companies reporting emissions have carbon …
PR-Inside.com (Pressemitteilung), Austria
The new research report reveals that companies responding to the fifth annual Carbon Disclosure Project questionnaire are using a total of 34 different …
Finance houses back auctions of carbon permits
Environmental Expert (press release), Spain
Auctioning of emissions allowances is needed to provide a clear signal for investors and shareholders looking to secure future investments in an …
New car CO2 rules are illegal says EU legal committee
Easier (press release), UK
A regulation forcing car makers to cut average CO2 emissions to 130g/km for their model ranges, or face hefty fines, has been declared illegal. …
Vertex Seeks To Help Companies Reduce Their Carbon Footprints With …
PresseBox (Pressemitteilung), Germany
(pressebox) Prescot, 17.09.2008 – Vertex, a leading international business process outsourcer and IT services company, has announced the appointment of …
UK
Carbon price to rise in face of economic slump
Business Green, UK
The price of both UN approved CER carbon credits and EU-backed EUA credits will rise, despite the likelihood that an economic recession and associated fall …
Norwich and Peterborough Building Society Back Low Carbon Builders
CarbonFree News, UK
With rising utility prices, today’s self-builders are in an ideal position to save themselves a fortune by installing energy-efficient systems in their …
GoAssociates Focuses on Reducing the Carbon Footprint of UK …
MarketWatch
BRACKNELL, UK, Sep 18, 2008 (BUSINESS WIRE) — HighJump Software, a global provider of supply chain execution solutions, announced that innovative terminal …
Low carbon car coming in February
Environmental Transport Association, UK
The Smart ForTwo CDI, a vehicle claimed to be the lowest carbon-emitting car in Britain, is set to hit the road at the beginning of next year, …
Carbon-Footprint Labels Appear in British Supermarkets
FOXNews
By Michael Schirber Now, supermarkets around the world are expanding the approach by adding labels that warn of the environmentally unhealthy bits in the …
Hemp Houses Could Help Combat Climate Change by Reducing the …
Azom.com
Houses made of hemp, timber or straw could help combat climate change by reducing the carbon footprint of building construction, according to researchers at …
SEI recommends storing carbon dioxide under sea
Belfast Telegraph, United Kingdom
Sustainable Energy Ireland says storing harmful carbon dioxide emissions under our seabed is the way forward in the future. …
Manchester leads way for a zero carbon future
Letting News, UK
Environmentally conscious landlords can now invest in the UK’s first ever carbon zero housing development in Manchester. Set on Mason Street in the Northern …
Agency calls for special treatment of CHP in carbon trading schemes
Future Energy Yorkshire, UK
A paper issued by the IEA aims to overcome the problems with incorporation of highly efficient CHP systems into emissions trading schemes (ETS). …
USA
New Carbon Material To Store Renewable Energy
CarbonFree News, UK
Engineers and scientists at The University of Texas at Austin have achieved a breakthrough in the use of a one-atom thick structure called “graphene” as a …
Orion Energy Systems VP Featured At Carbon Finance Forum
MarketWatch
MANITOWOC, Wis., Sep 18, 2008 (GlobeNewswire via COMTEX) — Steve Heins, vice president of communications and governmental affairs for Orion Energy Systems …
Lehman Brothers Close Ties to Gore, Hansen and Carbon Trading
The People’s Voice, TN
Al Gore’s carbon trading business GIM was banked with Lehman Bros. It will be interesting to see how this will play in the future but I suspect that this …
Scientists warn about climate change; links for carbon offsets
KRNV, NV
A recently released study by the Desert Research Institute in Reno indicates drastic climate changes. Further, it warns, if the correct precautions are not …
Speaker to explain carbon credits, ideas for woodland owners
Blue Mountain Eagle, OR
JOHN DAY – The Grant County OSU Extension forestry program is hosting a noon forum on Carbon Credit Markets by Mike Gaudern, executive director of the …
GE/AES Venture Partners With Google On Carbon Offset Projects
EasyBourse.com, France
By Mark Peters Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- A joint-venture between AES Corp. (AES) and General Electric Co. (GE) will develop projects …
Carbon footprints dwindle without power
Columbus Dispatch, OH
By Spencer Hunt As thousands of Ohioans go through another day without power, perhaps there’s a silver, or even green, lining. …
CU releases carbon inventory
Daily Camera, CO
By Laura Snider (Contact) As part of its commitment to become carbon neutral, the University of Colorado published an inventory of its greenhouse gas …
Tariff could supplement US carbon strategy
Cleantech Group, CA
Debate over cap-and-trade or tax on emissions is meaningless without participation by developing countries, industry leaders say. Imposing a carbon tariff …
Lee visitors bureau buys carbon offsets
The News-Press, FL
The Lee County Visitor Convention Bureau is offering to foot the bill for offsetting carbon dioxide emissions for conferences, conventions and other …
CO2 or bust: tools of the accounting trade
Sustainable Industries, CA
by Dominique A. Gómez – 9.18.08 Carbon accounting has become an essential step for any business attempting to reduce its overall carbon footprint. …
California Trees Not Keeping Up With CO2
American Institute of Physics
Forests aren’t absorbing as much carbon dioxide as in the past, and fire suppression might be to blame. Fire suppression in forest encourages the growth of …
One abnormally warm year can suppress CO2 uptake for two years
DailyIndia.com, FL
Washington, September 18: A new research has shown that one abnormally warm year can suppress the amount of carbon dioxide (CO2) taken up by some grassland …
Honda Reduces 700 kg of CO2 Emissions Per Vehicle Produced
Environmental Leader
American Honda Motor Co., Inc., released its fourth annual report on the company’s environmental performance in North America. …
Well. That was a pretty lengthy list. Anyway, we are trying to make some changes here and there. That’s why you are now getting news this way, which is just a snippet of whatever’s happening all around the world in the carbon industry. Feel free to send suggestions and your thoughts in comments.
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Reports indicate that the United Nations Environment Program (UNEP) has revised its estimates for the supply of Certified Emission Reductions (CERs). It had previously expected to issue 1.51 billion CERs till 2012, but now buyers will have to contend with a reduced supply of 1.48 billion CERs.
The lower supply estimates are a result of the slow approval process. Though UN has beefed up the approval- staff, the move will not be able to counter the delays caused by a more stringent process coupled with a rise in the number of projects seeking approval.
As per Henrik Hasselknippe of Point Carbon:
“UNEP has been reducing supply projections for some time… Fewer credits being issued means you will have more people fighting over the same projects and that will have an upward impact on prices”
Further, though the lower supply is unlikely to affect EUA prices directly, it will reinforce the expectations that CER and EUA prices are set to go up. EUAs are currently priced at €25/ton and the average estimate for the 2008-12 period is €38-45/ton.
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The British government confirmed today that only 7% of the European Union Allowances (EUAs) will be auctioned. A previous analysis hypothesized that the government may auction around 10% of the allowances, which is the maximum allowed by EU regulations. The analysis was based on reports that the additional auction might be used instead of a windfall tax to cut some profits from energy firms and use them on the fuel-poor people.
However, the Aug 15 Defra press release confirmed 7% allowances would be auctioned, amounting to about 85 million allowances during phase II (2008-2012). The exact number of allowances available in each auction would be officially announced by the Treasury at least one month prior to the auction date. Around 23 million tons of carbon permits are expected to be auctioned in 2008 although the date of the first auction has not been set yet.
Complete details of the emissions scheme can be viewed here (PDF) and eligibility criteria for participation in the auction can be read here.
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After three months of rising steadily in April, May and June, EU permit prices slumped in July and then recovered somewhat in the first week of August. Bloomberg reports that the prices of EU carbon allowances didn’t change too much this week after the economy contracted and RWE’s decision to purchase more EUAs for its UK operations. EUAs for December reached USD 35.37/metric ton, an increase by 8 cents and CER prices dropped to USD 29.05
The EU economy, which is a global leader in greenhouse gas trading slackened for the first time in its second quarter - the GDP fell by 0.2 per cent as compared to the first quarter as a result of slowing down of major EU countries.
Also, the UK unit of RWE, Germany’s second biggest power generator announced that it will need to purchase more EUAs than expected because it will be using a greater amount of coal than previously thought.
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