EUAs hit 8-day high on short covering

EUAs hit 8-day high on short covering - News - Point Carbon
EU carbon prices hit an eight-day high of 6.67 euros on Friday to defy losses across other markets as speculators bought back positions after a week of selling pressure failed to trigger a price collapse...

Cities await climate finance from development banks

Environmental Finance | News | Cities await climate finance from development banks
Cities are still largely financing climate change initiatives from their own funds, according to a report from the Carbon Disclosure Project (CDP), with multilateral development banks providing less than 1% of funds.  The Measurement for Management: CDP Cities 2012 Global Report analyses data submitted to the CDP by 73 cities and shows that a significant majority (82%) have identified the potential for economic growth as a result of climate change mitigation and adaptation activities.  About two-thirds of cities’ climate projects are financed by their general municipal funds, but only 14% have outside or private financing, 7% have grants or subsidies and 14% have project-specific financing.  And although the World Bank and other development banks have expressed interest in providing climate finance to cities, less than 1% of emissions reduction activities reported by cities are financed by development banks.

First international standard on biodiversity offsets launched

Environmental Finance | News | First international standard on biodiversity offsets launched

The Business and Biodiversity Offsets Programme (BBOP) has published what it says is the first international standard on biodiversity offsets.  The standard – to be formally launched next week – is designed to help companies better manage biodiversity impacts of projects, by first taking steps to avoid and minimise any impacts, then undertaking restoration work, and finally offsetting any residual impacts.

GE Picks Wind-Industry Survivors as Tax Credit Expires

GE Picks Wind-Industry Survivors as Tax Credit Expires - Bloomberg
Vic Abate expects that many makers of gearboxes, towers and blades for wind turbines will go under next year. He should know -- as vice president of General Electric Co. (GE)’s renewable energy business, Abate is the executive who will seal their fates.  With a federal tax credit that subsidizes the U.S. wind industry set to expire at the end of 2012, GE is scrutinizing its supply chain...

Australia not alone on carbon pricing

Australia not alone on carbon pricing: Combet - National News - National - General - Great Lakes Advocate
Climate Change Minister Greg Combet will today counter claims that Australia is acting alone on carbon pricing with an analysis that finds more than 50 jurisdictions will have emissions trading schemes in 2013.  The schemes cover a combined population of about 850 million, according to the analysis by the Department of Climate Change and Energy Efficiency.  They include 30 countries linked under the European Union carbon scheme, regional systems covering 10 US states, including California, and seven pilot schemes in Chinese provinces and cities.  Mr Combet said the schemes would cover an estimated 30 per cent of the global economy, showing Australia was joining "the vast majority of the world's industrialised economies in adopting a policy that reduces emissions in the most economically responsible way".

When carbon credits work in the Amazon

REDD: When carbon credits work in the Amazon | GlobalPost
Sitting on the porch of his ramshackle wooden hut, shaded from the Amazonian sun by the thick rainforest canopy, Brazil nut collector Eleuterio Martin admits he has never heard of global warming.
Yet Martin, 73, is now set to play his part in a groundbreaking new project that could become one of the most effective ways to curb rising global greenhouse gas emissions.  He is one of hundreds of local people here in the Madre de Dios region of Peru, near the Bolivian border, who have teamed up with Bosques Amazonicos, a Lima-based company that plans to market carbon credits generated by protecting the rainforest on the land where they have government concessions to harvest Brazil nuts...

EPA Reaffirms Emissions Trading to Reduce Haze

Courthouse News Service- EPA Reaffirms Emissions Trading to Reduce Haze
The Environmental Protection Agency is reaffirming a program allowing electric power plants to trade emissions, based on its finding that this is more effective at reducing regional haze than requiring them to install technology to filter their emissions.  States whose emissions from power plants contribute to downwind states' failure to meet National Ambient Air Quality Standards for visibility are required to reduce their emissions.  This usually had been accomplished by requiring power plants built between 1962 and 1977 to install the best available retrofit technology to scrub emissions.

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Thomson Reuters Point Carbon's OTC price assessments

		Close	+/-
EUA	Dec 2012	6.65	0.14
sCER	Dec 2012	3.39	0.05

 

 

Latest Carbon Market News

Markets

08 Jun 2012 21:11

When spot is not: New EU registry rules mean long delays

LONDON, June 8 (Reuters Point Carbon) – The EU’s long-awaited common CO2 registry will go live on Ju…

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08 Jun 2012 17:39

EUAs hit 8-day high on short covering

LONDON, June 8 (Reuters Point Carbon) - EU carbon prices hit an eight-day high of 6.67 euros on Frid…

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08 Jun 2012 16:55

CER supply hits 1-month low, fails to support prices

LONDON, June 8 (Reuters Point Carbon) - The number of U.N. carbon credits issued to companies that c…

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08 Jun 2012 17:05

Chubu emissions rise 8 pct as nuclear shutdown bites

TOKYO/LONDON, June 8 (Reuters Point Carbon) - The emissions of Japan’s third-largest power company r…

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08 Jun 2012 19:16

Russia turns down extra overflights-airlines

LONDON, June 8 (Reuters) - Russia has turned down requests from Lufthansa Cargo and Finnair for addi…

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07 Jun 2012 17:57

U.N. CO2 offsets equal historic low, EUAs find support

LONDON, June 7 (Reuters Point Carbon) - U.N. carbon credits eased to equal their all-time low on Thu…

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08 Jun 2012 00:54

CCAs volumes freeze amid offset market standoff

SAN FRANCISCO, June 7 (Reuters Point Carbon) – California carbon allowances (CCAs) for delivery in 2…

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US government slams EU policy on aviation emissions

Environmental Finance | News | US government slams EU policy on aviation emissions
The Obama administration harshly criticised the EU for forcing US airlines to participate in its emissions trading system (ETS), but stopped short of asking Congress to pass a bill to exempt the domestic industry.  Transportation Secretary Ray LaHood told members of the Senate Commerce, Science and Transportation Committee on Wednesday that the administration was strongly opposed, both on legal and policy grounds, to the imposition of the EU ETS on US airlines, even though it shares the EU’s objective of reducing aviation’s impact on the environment.

Exelon Intent on Changing with Power Market

Exelon Intent on Changing with Power Market - WSJ.com
The U.S. natural gas boom has fundamentally changed the power market, and Exelon Corp., EXC -4.20% the nation's largest nuclear power plant operator, intends to change with it.  Since the Chicago-based electricity company purchased Baltimore-based Constellation Energy Group in March, it appears to have adopted the smaller company's entrepreneurial spirit, along with its customers, power plants and retail power business.  For years, Exelon pursued a traditional hybrid business model of operating utilities in Illinois and Pennsylvania and running a merchant power business in which it sold power from its plants to other utilities at wholesale prices. Now, Exelon plans to sell more power directly to end-use customers, who pay higher prices than those on the wholesale market, where prices have plunged to historic lows.  "We want the opportunity to compete for business every place that we can," Exelon Chief Executive Chris Crane said in an interview. "We are after all levels of sales activity and all levels of channels to market."

Chesapeake Energy to sell pipelines to GIP for $4.08 billion

Chesapeake Energy to sell pipelines to GIP for $4.08 billion
Chesapeake Energy Corp., the U.S. energy explorer facing a $22 billion cash shortfall because of falling natural-gas prices, agreed to sell its pipeline interests to Global Infrastructure Partners for $4.08 billion.
Chesapeake will sell its interests in Chesapeake Midstream Partners LP to Global Infrastructure for $2 billion, the Oklahoma City-based company said in a statement today. Chesapeake also will raise more than $2 billion by divesting its pipeline development unit and some central U.S. conduits to Chesapeake Midstream.

Alpha Closes Mines as Coal Industry Faces ‘New Normal’

Alpha Closes Mines as Coal Industry Faces ‘New Normal’ - Bloomberg
Alpha Natural Resources Inc. (ANR), the second-biggest U.S. coal producer, is shutting mines in Kentucky and closing U.S. regional offices as cheap natural gas and clean-air rules slash demand from electricity generators.  Operations will end at eight mines in the state, including four owned by affiliates and four contract facilities, and production will be cut at others, Bristol, Virginia-based Alpha said today in a statement. The moves will reduce thermal-coal shipments by 2 million tons this year and 4 million tons in 2013, Alpha said. About 150 jobs will be eliminated.  U.S. demand for coal in electricity generation will drop 9.7 percent this year to the lowest level since 1984, according to the U.S. Energy Department. Some power plants have switched to using gas after surging output from shale rock sent prices in April to the lowest in a decade. Alpha said a U.S. Environmental Protection Agency proposal to limit greenhouse-gas emissions from power plants will further erode demand.