Emissions Trading News - March 1, 2013
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MEPs asked to give global talks to limit aviation emissions chance to take off
February 27, 2013
MEPs should facilitate talks on a global deal to limit aviation emissions by approving plans to exempt intercontinental flights from the EU's emission trading system for one year, according to the EP's environment committee.
TGO eyes carbon credits
February 26, 2013
The Thailand Greenhouse Gas Management Organization (TGO) is asking the government to come up with incentives to motivate companies to join carbon credit-related schemes.
TGO senior officer Sumon Sumetchoengprachya said it is studying ways to increase incentives for companies to participate in Thailand's voluntary emission trading scheme (V-ETS).
German CO2 output under EU trade scheme flat in 2012
February 25, 2013
Carbon emissions from power, industry unchanged last year
* Greenhouse gas emissions up 1.6 percent in EU's biggest economy
* But Germany easily meets its Kyoto protocol commitments
Change is in the air: Ontario closer to a cap-and-trade system
Daniel Kirby, Jack Coop, Jennifer Fairfax and Patrick Welsh
(Osler, Hoskin & Harcourt LLP)
February 21, 2013
On January 21, 2013, Ontario’s Ministry of the Environment (MOE) posted the Greenhouse Gas Emissions Reductions in Ontario: A Discussion Paper (the Discussion Paper) on the Environmental Registry, in conjunction with a consultation period open until April 21, 2013. This Discussion Paper is the latest indication that the Ontario Government intends to pursue a greenhouse gas (GHG) reduction strategy that involves a cap-and-trade system that may have far-reaching effects on industry in the province. The Discussion Paper also makes it clear that the interests of stakeholders, including Ontario businesses, will be considered.
Government drags feet over proposal to revive carbon trading market
February 21, 2013
Denmark has yet to support a proposal to withdraw CO2 quotas in order to boost their price
Energy company Dong was one of over 30 companies to sign a letter urging the EU parliament and members to support withdrawing CO2 quotas from the market Denmark has yet to throw its backing behind a proposal to revive the EU’s flagging carbon emissions trading scheme (ETS).
European Parliament Approves Plan to Bolster Carbon Trading
By STANLEY REED
New York Times
February 19, 2013
LONDON — Lawmakers in Brussels moved on Tuesday to shore up the sagging market for carbon emissions permits, a central component of the European Union’s efforts to reduce air pollution.
Prices of carbon allowances, which let companies emit greenhouse gases, fell last month to as low as 2.80 euros, or about $3.75, a metric ton, compared with 9 euros a ton a year ago and 30 euros a ton in 2008. To reduce the supply of permits and drive up the price, the environmental committee of the European Parliament voted to allow the European Commission to reduce the number of allowances to be auctioned over the next three years.
Second cap and trade auction needs big bucks
News10 (Sacramento, California)
6:43 PM, Feb 19, 2013
In a private and somewhat secret event on Tuesday, Gov. Jerry Brown's proposed state budget inched a little more towards balance... or further towards a multi-million dollar hole created by what's turned out to be relatively low demand for greenhouse gas pollution credits.
It was the second of three initial auctions of carbon dioxide credits, and the first since November's offering came up significantly short in revenues available to the state.
The Politics of Climate Change Legislation
February 15, 2013
Among Republicans and Democrats, citizen support for spending on environmental issues has not diverged nearly as much as it has among legislators.
Flawed strategy on the part of environmentalists doomed legislative attempts to pass economy-wide carbon controls during President Obama’s first term, argued Thomas professor of government and sociology Theda Skocpol at a February 14 symposium, “The Politics of America’s Fight Against Global Warming.” Her assertion, based on a paper written at the behest of the Rockefeller Family Fund, caused a stir among environmentalists after it first became public in mid January.
Senators propose long-shot carbon tax bill for big polluters
February 14, 2013
WASHINGTON - Two of the most liberal senators on Thursday proposed a bill to tax carbon emissions, raising up to $1.2 trillion in revenue over 10 years that would largely be returned consumers.
Independent Bernie Sanders of Vermont and Barbara Boxer, a Democrat from California, attempted to seize on the momentum from Tuesday's State of the Union speech when President Barack Obama expressed support for efforts to battle climate change.
Despite Pollution Worries, China Experiments with Carbon Trading
Chosun Ilbo (South Korea)
February 1, 2013
As China scrambles to respond to the choking smog that has blanketed Beijing in recent weeks,authorities in several major cities are experimenting with carbon trading platforms. The schemes are one effort to get control over greenhouse gases in an economy still hungry for cheap energy.
Carbon tax v cap-and-trade: which is better?
Grantham Research Institute
The Guardian (UK)
January 31, 2013
Economists argue that, if the market is left to operate freely, greenhouse gas emissions will be excessive, since there is insufficient incentive for firms and households to reduce emissions. As such, they recommend applying the polluter pays principle and placing a price on carbon dioxide and other greenhouse gases. This can be implemented either through a carbon tax (known as a price instrument) or a cap-and-trade scheme (a so-called quantity instrument). http://www.guardian.co.uk/environment/2013/jan/31/carbon-tax-cap-and-trade
(For Enerhope’s view of the debate between carbon tax and cap-and-trade, see Enerhope’s response to Paul Krugman’s , New York Times article of April 11th, 2010:
Obama Talks Climate Change. California Is Acting on It
By Bryan Walsh
January 29, 2013
2013 should be the year the U.S. finally gets serious about dealing with the man-made greenhouse-gas emissions that drive warming. And greens could take some hope in President Obama’s Inaugural Address on Jan. 21. “We will respond to the threat of climate change, knowing that the failure to do so would betray our children and future generations,” Obama told his audience. But whatever the President’s intentions, political realities — including a House led by Republicans who want nothing to do with climate-change legislation — will limit his scope of action. At most, the White House may be able to tweak the tax code or spend more on research for clean energy. Useful policies, but nothing as comprehensive as the climate legislation that was introduced, and ultimately defeated, during Obama’s first term.
But if environmentalists look west from Washington — about 2,728 miles west — they’ll see reason for hope. On Jan. 1, after years of preparation and legal battles, California launched a carbon cap-and-trade system, establishing a declining limit on the state’s greenhouse-gas emissions. That means that the most populous state in the U.S. and the ninth biggest economy in the world has legally committed itself to reducing its carbon emissions to 1990 levels by 2020.
California Defeats Lawsuit Against Cap-and-Trade Program
By Karen Gullo and Lynn Doan
January 28, 2013
California environmental regulators running the nation’s first economy-wide carbon cap-and-trade program defeated a lawsuit that claims the system contains a loophole so companies can avoid reducing carbon emissions.
State court Judge Ernest Goldsmith in San Francisco rejected claims by two environmental groups challenging the way the program allows polluters to buy greenhouse gas emission credits from entities that aren’t part of the program.
EU’s carbon trading hopes rest on Germany
By Joshua Chaffin in Brussels and Pilita Clark in London
January 28, 2013
In more than three years of a crisis that has threatened the very existence of Europe’s single currency, one thing has become evident: no meaningful action – be it a multibillion-euro bailout or new fiscal rules – can go forward without the consent of Angela Merkel, Germany’s chancellor.
As policy makers, traders and companies mull the fate of the EU’s carbon market, the world’s largest, they are discovering the same may hold true here.
Wake-Up Call: A Disastrous Week for Carbon Trading
By Joel Stonington
January 25, 2013
The European cap-and-trade system has slid into near meaninglessness as Germany bickers on the sidelines. Hopes that the election in Lower Saxony might resolve the high-level bickering were misguided. Now Europe's carbon market has hit a new low.
For those involved in European Union climate policy, the German regional election in Lower Saxony on Sunday was a nail-biter. The hope for many was that Germany's pro-business Free Democratic Party (FDP) would suffer defeat and leader Philipp Rösler, who has been under pressure within his party for weeks now, would be forced to step down as economics minister. But that didn't happen. Instead, Rösler ended up in a stronger position than before, and the flagship project of Europe's climate policy settled deeper into a lifeless coma.
Airlines accused of pocketing EU emission trading fees
By Keith Laing
January 23, 2013
U.S. airlines made as much as $83 million from European emission trading rules they vocally opposed, a group of environmental advocates claims.
The accusation is based on a study by European nongovernmental organization Transport and Environment. The report says airlines collected a $3 fee on ticket purchases that was intended to go to a trust fund established by the European Union's Emission Trading System (ETS) for a total of $1.7 billion.
China has the capacity to lead in carbon trading
Pilot schemes launched this year could be the start of a world-class system — if the country can solve its data-gathering problems
By Qiang Wang
January 15, 2013
The value of the world’s carbon market fell for the first time last year. More than one-third was wiped from the price of carbon credits in a plunge that reflects the continued global economic crisis and uncertainty over the future of emissions-trading schemes.
Is it a good time to buy carbon credits? Perhaps not yet, but some shoots of recovery are visible, not least in my own country of China. Largely unnoticed in the West, Chinese carbon trading is getting up and running. In just two years, officials have designed and started to implement seven trading trials that cover around one-third of China’s gross domestic product and one-fifth of its energy use. If successful, the schemes will show that emissions trading could be a powerful way for China to control its greenhouse-gas emissions.
Global carbon trading volumes shrink
Brisbane Times (AUSTRALIA)
January 4, 2013
The value of global carbon market transactions plunged 36 per cent last year as European Union permit prices fell and United Nations emission credits dropped to records, according to Bloomberg New Energy Finance.
UK carbon support for energy-intensives needs tightening: panel
January 4, 2013
UK government support to help energy-intensive companies meet the cost of carbon needs to be tightened to avoid further emissions-related windfall profits, the cross-party Environmental Audit Committee said Friday.
Environmental cap-and-trade regulations in force
Kevin Dougherty, Gazette Quebec bureau chief
January 1, 2013
On Tuesday, Jan. 1, Quebec and California became the first jurisdictions in North America to enforce compulsory cap-and-trade regulations to reduce greenhouse gas emissions.
The idea was pushed by former California governor Arnold Schwarzenegger and former Quebec premier Jean Charest, within the Western Climate Initiative, which includes seven states and four provinces — Quebec, Ontario, Manitoba and British Columbia.
Quebec and California will set allowable emissions limits in the first year, with the permitted amount reduced over time.
Quebec aims to reduce its greenhouse gas emissions to 25 per cent below 1990 levels by 2020. California aims to return to its 1990 level of greenhouse gas emissions by the same year. http://www.montrealgazette.com/technology/Environmental+trade+regulations+come+into+force/7762705/story.html
California's New Cap-and-Trade Law: A Model for the Country?
Although cap-and-trade programs to curb global warming are a nonstarter in Washington, an ambitious plan in California could renew interest.
By Coral Davenport
National Journal (USA)
Updated: December 30, 2012
If you thought cap-and-trade was dead and buried, think again.
Fixing the European Emissions Trading Scheme (ETS) [Video]
The Energy Collective
December 24, 2012
Sonja Van Renssen, leading environment journalist for viEUws - the EU Policy Broadcaster , met with the European Commission's Director General for Climate Action, Jos Delbeke, to discuss proposals for fixing the European Union's Emissions Trading Scheme(ETS).
Thomas Mulcair on cap-and-trade
by Aaron Wherry
December 17, 2012
As part of last week’s conversation with the NDP leader (Leader of the Opposition in Canada’s House of Commons), I asked a few questions about cap-and-trade and putting a price on carbon. http://www2.macleans.ca/2012/12/17/thomas-mulcair-on-cap-and-trade/
Interactive Emissions Trading Scheme map launched
Latest ETS developments around the world tracked with new web tool
December 13, 2012
Berlin, London,– An interactive map compiling up-to-date information on the status and design of Emissions Trading Schemes around the world has been launched by the International Carbon Action Partnership (ICAP) and Ecofys.
Deutsche Bank probed in carbon trading tax scam
Executives investigated for signing off on tax documents related to emissions business
CBC News (CANADA)
December 12, 2012
Two senior executives from Deutsche Bank are among 25 employees under investigation as part of a tax evasion probe into the bank's carbon trading business.
Deutsche Bank says its co-chief executive Juergen Fitschen and chief finance officer Stefan Krause are included because they signed the company's 2009 tax declaration.
Under the continent's widening emissions scam, fraudulent traders are alleged to have bought millions of carbon credits outside of Europe (thereby evading strictly monitored EU taxes on them) and then reselling them under the radar, while skimming the tax money off the top.
Doha decision spiteful, says consultant
By Brian Fallow
New Zealand Herald
December 11, 2012
The annual United Nations climate conference opted to restrict access to the buyer's side of the international carbon market set up under the Kyoto Protocol to those countries (mainly European but also Australia) which undertake legally binding commitments under the treaty's second commitment period, which begins in the new year.
When Climate Change Minister Tim Groser announced last month that the Government would not be doing that, he acknowledged the risk it could shut New Zealand out of those markets.
Marché du carbone: Québec démarre sans la Californie
La Presse (Montréal)
le 10 décembre 2012
Continuer d'avancer, même si c'est pour l'instant sur des chemins séparés: c'est le message que lancent la Californie et le Québec au sujet du marché du marché du carbone qui doit démarrer le 1er janvier dans les deux territoires.
À deux semaines du lancement, le Québec et la Californie n'ont toujours pas lié les marchés qu'ils veulent implanter sur leur territoire respectif. Malgré ce retard, ils démarreront quand même leurs activités de façon indépendante... en espérant les lier au printemps.
Doha showed that only domestic policy can drive international co-operation
A group of leading UK climate legislators responds to the 'modest achievement' made at the Doha conference
December 10, 2012
Sleepless nights over climate change
By Pilita Clark
The Doha conference, just part of complex negotiations, tested delegates’ limits http://www.ft.com/cms/s/0/382fbeaa-41ff-11e2-979e-00144feabdc0.html#axzz2Efu9VMFL
After climate talks achieve little, countries watch US ahead of next round
By Karl Ritter
The Associated Press
December 9, 2012
Commission launches public consultation on structural options for the EU Emissions Trading System
December 7, 2012
Following the report on the state of the European carbon market, the Commission is today opening its online public consultation on structural options to strengthen the EU Emissions Trading System (EU ETS). http://ec.europa.eu/clima/news/articles/news_2012120701_en.htm
Deutsche Bank joins carbon fray
Sydney Morning Herald (AUSTRALIA)
December 3, 2012
DEUTSCHE Bank has become the latest bank to apply to trade in carbon credits, joining 123 other companies seeking to deal in regulated emissions.
The German banking giant last week lodged its application with the Australian Securities and Investments Commission to have its Australian Financial Services Licence amended, with Deutsche Bank expecting approval early next year.
ASIC has so far issued 43 carbon trading licences, with companies ranging in size from COzero (see related story) and Greenfleet to ANZ, Commonwealth Bank and UBS.
Removing the haze on carbon credits
Hindu Business Line
December 2, 2012
Carbon copy: Relying on a Supreme Court decision on surplus loom hours, the Hyderabad tribunal held transfer of carbon credits as capital receipt.
Hyderabad Tribunal ruling on carbon credit transfers makes it clear that it is non-taxable.