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Effective today, The ROBERT | CHARLES Group is discontinuing our postings and links to content and news for investing in worldwide cap and trade and sustainable energy markets. This blog will be phased out in the coming days and weeks.

Friday, June 15, 2012

Japan to Get New Atomic Regulatory Body within 3 Months

Japan to Get New Atomic Regulatory Body within 3 Months: Scientific American
Japan will set up a new nuclear regulator around September under a law approved by parliament's lower house on Friday after months of delay as part of a drive to improve safety and restore public trust after the worst atomic disaster since Chernobyl.  The 2011 Fukushima disaster cast a harsh spotlight on the cozy ties between regulators, politicians and utilities - known as Japan's "nuclear village" - that experts say were a major factor in the failure to avert the crisis triggered when a huge earthquake and tsunami devastated the plant, causing meltdowns.  The legislation, however, swiftly came under fire for appearing to weaken the government's commitment to decommissioning reactors after 40 years in operation, even as it drafts an energy program to reduce nuclear power's role.

Rio+20: At forum, business leaders discuss shifting to sustainable path

Rio+20: At forum, business leaders discuss shifting to sustainable path
More than 2,000 business leaders, investors and labour activists will today gather at a United Nations forum seeking to reach consensus on sustainable policies that will protect the environment, provide safe and fair conditions for workers, and stimulate economic growth, ahead of the UN Conference on Sustainable Development (Rio+20) taking place in Rio de Janeiro, Brazil, next week.  During the Rio+20 Corporate Sustainability Forum: Innovation & Collaboration for the Future We Want, also taking place in Rio de Janeiro, business leaders will have the opportunity to discuss with government and civil society representatives ways in which to implement sustainable policies and trigger innovations, through a series of workshops and thematic sessions linked to Rio+20, such as on energy, water, agriculture and urbanization.  “It is absolutely critical that business leaders be involved in the sustainable development dialogue,” the spokesperson for the Corporate Sustainability Forum, Timothy Wall, said in an interview. “The kind of movement that has been developing around the Rio Summit and the issues that are covered by sustainable development cannot be dealt with satisfactorily without the business community.”

Japan to Set Clean-Energy Subsidies Matching Panel’s Proposals

Japan to Set Clean-Energy Subsidies Matching Panel’s Proposals - Bloomberg
Japan is set to announce incentives for renewable-energy generation on June 18 and will endorse the rates proposed by a government panel, an official said today.  Trade Minister Yukio Edano will confirm the subsidized tariff of 42 yen (53 U.S. cents) a kilowatt-hour for 20 years for solar power, Masato Yasuda, an official in charge of the incentive program at the ministry, said by telephone today.  The decision is needed for Japan to start a so-called feed- in tariff program on July 1 to increase clean-energy use following the March 2011 nuclear accident.  The five-member panel proposed in late April tariffs for solar, wind, biomass, geothermal and small hydropower and the ministry sought public opinions until June 1. Edano will endorse the tariffs recommended by the panel for all five types of clean energy, Yasuda said.  The industry minister’s confirmation will mark the final step in setting the tariffs that will be good until March 2013. The minister will set the terms and rates paid each year.

Why are institutional investors ignoring climate change risk?

Why are institutional investors ignoring climate change risk? | GreenBiz.com
A recent analysis of 2011 proxy voting patterns indicates that mutual funds -- with almost $12 trillion in assets under management and 35 percent of which is invested domestically -- are failing to acknowledge the financial relevance of climate change.  The three largest mutual fund companies -- American Funds, Fidelity and Vanguard, which manage a total of $1.6 trillion in U.S. securities -- did not vote in favor of a single resolution addressing climate change in 2011. American Funds voted against every climate-related resolution, while Fidelity and Vanguard each abstained nearly 90 percent of the time.

Fighting Climate Change With Carbon Capture May Cause Quakes

Fighting Climate Change With Carbon Capture May Cause Quakes - Businessweek
Burying carbon dioxide in the ground, considered a promising way to combat climate change, may increase the risk of earthquakes, according to a report.  The process, in which liquefied carbon dioxide is stored in caverns, “may have the potential for causing significant induced seismicity,” the National Research Council said today. Injecting wastewater underground from natural-gas fracking may also trigger earthquakes, while using hydraulic fracturing to get trapped gas doesn’t pose a “high risk,” the report found.  Burying carbon may pose a higher risk of quakes than wastewater disposal because it involves the continuous injection of high volumes of liquefied gas at high pressure, said Murray Hitzman, professor of economic geology at the Colorado School of Mines (27653MF) and chairman of the committee that produced the report.

Japan to Set Clean-Energy Subsidies Matching Panel’s Proposals

Japan to Set Clean-Energy Subsidies Matching Panel’s Proposals - Bloomberg
Japan is set to announce incentives for renewable-energy generation on June 18 and will endorse the rates proposed by a government panel, an official said today.  Trade Minister Yukio Edano will confirm the subsidized tariff of 42 yen (53 U.S. cents) a kilowatt-hour for 20 years for solar power, Masato Yasuda, an official in charge of the incentive program at the ministry, said by telephone today.  The decision is needed for Japan to start a so-called feed- in tariff program on July 1 to increase clean-energy use following the March 2011 nuclear accident.  The five-member panel proposed in late April tariffs for solar, wind, biomass, geothermal and small hydropower and the ministry sought public opinions until June 1. Edano will endorse the tariffs recommended by the panel for all five types of clean energy, Yasuda said.

Australia cuts number of firms to pay carbon tax

Australia cuts number of firms to pay carbon tax - chicagotribune.com
Australia will levy a controversial carbon tax on about half the number of companies originally expected, a government list released on Friday shows, which may limit the economic and political impact of the tax which starts on July 1.  Prime Minister Julia Gillard has pinned her government's survival on implementing the carbon price while hoping for a muted voter reaction to blunt a persistent opposition attack warning of higher prices, job losses and factory closures.  Australia's Clean Energy Regulator has named 294 firms will be liable for the A$23/tonne ($22.96/tonne) carbon tax, with electricity generators, steel makers and mining companies among the biggest emitters. The list was based on emissions output.  The list is well short of the government's initial estimate that around 500 companies would be forced to pay to pollute under its sweeping carbon price, designed to cut Australian carbon emissions by five percent of 2000 levels by 2020.

5 things we learned this week .... about green energy myths

5 things we learned this week .... about green energy myths - reneweconomy.com.au : Renew Economy
A couple of months ago when I was chatting about my plans for RenewEconomy with a senior journalist friend, he considered the name and turned to me and asked: “You’re pro-renewables, aren’t you?” It wasn’t the detail of the question that startled me so much as the tone, as though he was seeking my views on gay marriage, or euthanasia. And I wondered how it was that renewable energy had become a morally contestable issue.  The answer, of course, has much to do with the actions of vested interests, who have sought to delay the deployment of renewables – initially through challenging the climate change science, then on demonizing renewables as costly and useless, and then by fighting incentives, and finally through regulation.  They have been able to get away with this because there is a dearth of information. The public who don’t know whether to believe the advocates or the nay-sayers have been ill-served by the mainstream media, and supposedly independent statutory bodies such as the Productivity Commission and the state-based pricing regulators, who have either displayed ignorance, a lack of curiosity, or a blind hatred of green technologies. And given useless advice to the government, as was enshrined in the draft energy white paper.  We got a succinct update to this in this week’s IPART ruling on retail electricity prices, and the media response to it. IPART and the media chose to focus on the cost of green energy incentives, even though it was clear that the single greatest contribution was the costs associated with more poles and wires and keeping track of the surging demand for air conditioners. Both IPART and the PC have been stubbonly short term in their estimation of green energy costs and incentives, and their value, even when most of the literature, and current and past experience with other technologies and other sectors, suggests the long term view is more useful and more valid.  Even so, a series of reports in recent weeks from a range of authoritative sources have served to dispel some of the more egregious myths about green energy. You won’t get to read much of any of the reports in most of the mainstream media, so here’s a recap and summary...

Pacific Carbon Trust issues RFP for bio-coal offsets

Environmental Finance | News | Pacific Carbon Trust issues RFP for bio-coal offsets
Offset company Pacific Carbon Trust has issued a request for proposals (RFP) for emission reductions from bio-coal in British Columbia.  The company, owned by the government of British Columbia, announced on Thursday that it is offering to buy greenhouse gas (GHG) emission reductions from fuel-switching projects where coal and other GHG-intensive fuels are replaced by bio-coal.  The Pacific Carbon Trust is planning to buy offsets equivalent to up to 100,000 tonnes of carbon dioxide (CO2e) between 2013 and 2015 from British Columbian bio-coal fuel switch projects, and up to 150,000 tonnes of CO2e between 2016 and 2018, it said in a tender notice.  Bio-coal is a low-carbon replacement for fossil fuels. It is made by heating biomass to a minimum of 220°C in a low-oxygen environment. The resulting product has many of the physical characteristics of coal, with less global warming potential.

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EU ETS

EU energy law paves way for new CO2 market for buildings

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EUAs hit 6-wk high on utility buying, auction delay talk

LONDON, June 15 (Reuters Point Carbon) – European carbon prices rose for a seventh straight day on F…
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CER supply set to slow as new U.N. rules take effect

LONDON, June 15 (Reuters Point Carbon) - Complex U.N. rules could cut supply of carbon offsets this…
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Australian ETS set to be far smaller than expected

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Poland isolated in EU low-carbon debate

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Weekly CER issuance to hit 6-week low

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EU Said to Favor 1.2 Billion CO2 Permit Sale Delay in Report

EU Said to Favor 1.2 Billion CO2 Permit Sale Delay in Report - Bloomberg
The European Union may favor delaying sales of as many as 1.2 billion carbon allowances from 2013 in a planned report on the outlook for its emissions- trading program, two people with knowledge of the matter said.  The European Commission, the 27-nation EU’s regulatory arm, sketched out three scenarios to temporarily curb the oversupply in the cap-and-trade system in the draft report, the people said, declining to be identified because talks on the document are confidential. The two other options are withholding 400 million or 900 million permits in the three years through 2015, they said.

Poland isolated in EU low-carbon debate

Poland isolated in EU low-carbon debate | Reuters
Coal-reliant Poland prevented European Union governments from speaking with a single voice in the bloc's debate on a low-carbon energy future on Friday, saying proposed regulations may hamper the country's long-term economic growth.  At a meeting in Luxembourg, EU energy ministers debated an energy 2050 road map published by the bloc's executive in December, which sets out the route towards almost zero carbon power generation by the middle of the century.  Poland has repeatedly objected to any language in EU texts pointing towards deeper carbon cuts to guide decision-making for the years following 2020, when the EU is set to meet a binding target of a 20 percent emissions cut from 1990 levels.  Ministers from 26 EU member countries backed a resolution calling on the European Commission to propose a new policy framework for low-carbon energy up to 2030, but Poland was the only country to oppose the move.
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