Wednesday, January 20, 2021

British Steel gets £100m government loan to pay carbon bill

British Steel has secured a £100m loan from the government to pay its EU carbon bill, a source close to the company has said. The money means the private equity-owned firm will avoid a steep EU fine. The firm said earlier this month it needed the funds to settle its 2018 pollution bill due at the end of April.... An excerpt from...

New PostCO₂ price debate gathers speed within German grand coalition

More and more politicians from German Chancellor Angela Merkel’s grand coalition are showing openness to the idea of introducing a price on CO₂ and have entered a debate about its possible form and details, writes Konrad Schuller in Frankfurter Allgemeine Sonntagszeitung. While economy minister Peter Altmaier had long insisted the concept was not on the government’s agenda for this...

British Steel Seeks £100 Million Government Loan After Being Left Out Of EU Scheme

British Steel is seeking a £100 million Government loan after failure to pass a Brexit deal left it out of an EU-wide carbon trading scheme, according to reports.British Steel is understood to be seeking the loan because of the EU’s decision to suspend usual permits for UK-based companies, under its carbon emissions trading system....An excerpt from Huffpost

Members of the European Parliament urge California to exclude REDD from its cap and trade scheme: “Adopting the Tropical Forest Standard would water down climate ambition in California, the...

Last week, six Members of the European Parliament wrote to the California Air Resources Board urging the ARB to reject the proposed California Tropical Forest Standard. In November 2018, the ARB held a public meeting about the proposed Tropical Forest Standard. But the Board failed to reach a decision at that meeting. The EU has never allowed forest credits in...

German government examines CO₂ price – media reports

The country’s transport ministry also wants the new climate cabinet, recently set up by Chancellor Angela Merkel, to debate CO₂ pricing in multiple sectors, according to ministry documents seen by Clean Energy Wire — although a CO₂ price was not included in the ministry’s draft recommendations for reducing transport emissions. ... An excerpt from Clean Energy Wire

Finnish businesses set up ‘world’s first’ marketplace for carbon removal certificates

Puro is an internal start-up marketplace developed by Finnish electricity services firm Fortum. The company has been joined by 23 other organisations, mainly based in Finland, to create what it calls the “world’s first marketplace” for CO2 removal methods. The Puro marketplace is currently developing verification methodologies for atmospheric CO2 removal. Acting as a voluntary market mechanism, Puro will...

‘Unrelenting and unhedgeable’: the EU’s largest emitter on Brexit’s carbon trading risks

The risks presented by Brexit to the largest emitting company in the EU ETS are unrelenting and unhedgeable, according to RWE Supply and Trading’s head of regulatory affairs....An excerpt from Carbon Pulse

Nova Scotia ETS kicks off as first allowances distributed

"Nova Scotia allocated its first cap-and-trade permits on Monday following the start of its ETS on Jan. 1, though several design elements of the Canadian province’s programme are still to be determined over the coming year.... An excerpt from Carbon Pulse"

KEPCO to bear the brunt of soaring Korean CO2 prices

South Korean carbon prices rose to fresh record highs on Friday, leaving state-owned utility KEPCO to pick up the bill as the firm is obligated to compensate power companies for the CO2 allowances they have to buy.... An excerpt from Carbon Pulse

UK further postpones EU ETS compliance deadline

The UK government has again pushed back its deadline for firms to surrender EU emissions trading system (ETS) allowances to cover their emissions from the 2018 calendar year, following the EU's decision to delay the UK's EU exit.... An excerpt from Argusmedia

California defends decision to maintain post-2020 ETS caps as it confirms surplus volume

California regulator ARB defended its decision to maintain the current emissions cap trajectory of its WCI-linked ETS to 2030, despite confirming that there were more than 218 million surplus compliance units at the end of the market’s second compliance period, according to a letter sent to legislators Tuesday.... An excerpt from Carbon Pulse

Entrex launches Blockchain enabled Carbon Credit Market for private Biodiesel Producers

"The Entrex Capital Market, a Joint Venture between Long Blockchain Corporation (OTC: LBCC) and Entrex,.. launched a Blockchain enabled Carbon Credit Trading Market with approximately 2.5 million tokens; each representing one-ton Carbon Credits. “Private biodiesel producers have found that their production produces Carbon Credits in addition to the actual biodiesel and RINs or EPA Renewable Identification Numbers. “With appropriate Certification,...

World Bank commits $22.5 billion more to Africa for climate change

"World Bank Group announced Thursday it is providing USD$22.5 billion to Africa for climate mitigation and adaptation across five years beginning with 2021, adding to the $17 billion already committed through the Africa Climate Business Plan. World Bank also announced an Emission Reductions Purchase Agreement (ERPA) will be signed between the Carbon Initiative for Development (Ci-Dev)trust fund, with World Bank...

How Bird is working to make its scooters a truly sustainable transportation option

The scooter company Bird wants to make urban transportation more sustainable by replacing short car trips in cities. But this goal is made more difficult because the company has its own sustainability challenges: the pollution from trips taken to collect the electric scooters so that they can be charged, the power used for charging, and the short life of...

CN Markets: Guangdong ETS value soars 460% as signs of scarcity attract investors

China’s biggest cap-and-trade market saw a 460% year-on-year increase in value over Q1 as institutional investors entered amid signs of the scheme’s historical allowance surplus drying up, pushing prices up to four-year highs in the process.... An excerpt from Carbon Pulse

Virginia completes rule to allow trading with RGGI

Virginia air regulators have finalized a regulation that imposes a declining cap on carbon emissions from the state's utilities and is intended to allow trading with the Regional Greenhouse Gas Initiative (RGGI) cap-and-trade program in the Northeast and Mid-Atlantic. However, Gov. Ralph Northam (D) is facing pressure to issue a line-item veto of a GOP-authored provision in the state...

French low-carbon label plants seeds of agricultural and forestry transition

Created by a decree adopted on 28 November 2018, the low-carbon label was officially presented to the Ecological Transition Ministry on 23 April. Its aim is to encourage the development of projects that reduce and sequester greenhouse gas emissions. The label intends to promote these projects throughout the country, regardless of whether companies, local authorities, associations or even individuals are...

Ontario emissions declined during first year of now-defunct ETS, data shows

All three of Ontario’s largest emitting sectors saw their GHG output drop during the first year of the Canadian province’s now-cancelled cap-and-trade programme, according to government data....An excerpt from Carbon Pulse

CDFA and Air Resources Board launch public-private partnership to advance carbon farming

SACRAMENTO – The California Department of Food and Agriculture and the California Air Resources Board are announcing the launch of a public-private initiative to advance climate smart agriculture and reduce greenhouse gas emissions on agricultural lands. This partnership will create a mechanism for leading businesses in the food and fiber supply chain to directly fund climate projects on California...

Emissions Trading announcement is incentive for farmers

Forest owners believe the just announced reform of the Emissions Trading Scheme will encourage farm foresters and hill country pastoral farmers to plant more trees. Farm Forestry Association Chair, Neil Cullen, says carbon average accounting, where a forester is not penalised for harvesting so long as they replant, will encourage farmers to plant out land in forests, without a concern...

South Carolina forestland owners’ willingness to accept compensations for carbon sequestration

This study investigated South Carolina forestland owners’ willingness to generate and sell carbon credits to California’s cap-and-trade program. We used a sample of 784 private forestland owners’ responses to a contingent valuation survey in SC. As part of the main objectives of this study, our estimated average willingness to accept (WTA) in order to supply carbon credits to California’s...

[Australia] Labor edges away from using Kyoto credits to reach Paris target

Bill Shorten has signalled Labor is highly unlikely to use carryover credits from the Kyoto protocol as part of its climate change policy, which will be unveiled over the coming weeks. Labor has already released its policy for reducing emissions in the electricity sector. Shortly the opposition will unveil the rest of its policy measures, expected to include a trading...

[Korea] Parliament passes bill on designating fine dust as social disaster

"The National Assembly passed a bill on the designation of fine dust as a social disaster Wednesday as South Korea struggles with its worst-ever particle pollution. The proposal on fine dust as a social disaster will pave the way for the government to inject state money when an urgent need for expenditure arises." An excerpt from Yonhap News

Nations seek to shift gears on UN Article 6 carbon market talks

Governments are looking to change their approach on agreeing to a global rulebook for carbon markets in an effort to avoid a repeat failure that almost crashed the UN climate talks last year....An excerpt from Carbon Pulse

World first soil carbon project a giant leap for humankind

The Grounds Keeping Project sequestered 11t CO2-e/ha on farm land between baseline and second round soil sampling over a period of 1 year. This level of sequestration is equivalent to what might be expected from an environmental plantings project in the same region. Furthermore, it is not taking land out of food production, meaning it is agriculture plus carbon...

EUが水素社会へのシフトを宣言。2030年までに1000万トンの再生可能水素生産を目指す (20.08.10~20.08.16)

…2020年7月8日、EU(欧州連合)が『A Hydrogen Strategy for a climate neutral Europe 』という宣言を発表しました。意訳すると「欧州が気候変動に対応するための戦略として水素を重視する」といったところでしょうか。...まず2020~2024年までに6ギガワットの電力を使い100万トンのリニューアブル水素を生み出す計画としています。続いて、2025~2030年には40ギガワットで1000万トンの水素を生産することを目指します。そうして2030年以降は、主たるエネルギーを水素としてCO2フリーの社会を築くというのが目標です。… An excerpt fromhttps://clicccar.com/2020/08/16/1003574/ - 20.08.10 (Mon.). Arctic wildfires emit more CO2 in two months than whole of 2019 | Dhaka Tribunehttps://www.dhakatribune.com/world/2020/08/09/arctic-wildfires-emit-more-co2-in-two-months-than-whole-of-2019 - 20.08.11 (Tue.). Australia sets out plans to store CO2 in oil and gas reservoirs - Energy Live Newshttps://www.energylivenews.com/2020/08/10/australia-sets-out-plans-to-store-co2-in-oil-and-gas-reservoirs/. BASF calculates CO2 footprint of all products - Packaging Europehttps://packagingeurope.com/basf-calculates-co2-footprint-of-all-products/ - 20.08.12 (Wen.). CO2 GRO Inc. Discusses Their...

Climate Change Minister James Shaw snubs two-tier Emissions Trading Schemes

Climate Change Minister Minister James Shaw has snubbed recommendations from the environment watchdog for two separate Emissions Trading Schemes — one for fossil fuels and one for farming and forestry. Shaw and Forestry Minister Shane Jones later announced a change to the ETS that will change how forest owners are paid for the carbon their trees absorb from 2021. The...

[UK] Carbon trading after Brexit: UK scheme proposed

"With 28 days until Brexit absent an extension to Article 50, the minister has told the House of Lords that the UK intends to remain a part of the EU’s emissions trading system (ETS) until the end of 2020, by which time the country hopes to have established its own carbon trading scheme ready to come into effect in...

Smaller Impact From Carbon Tax In NS Due To ‘Cap And Trade’

On Monday, the federal government began levying its carbon tax on greenhouse gas-emitting fuels in four provinces that refused to take part in the national climate framework and create their own carbon pricing system.... An excerpt from CJLS