Carbon Market News 22.05.08 from Point Carbon
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HEADLINES
* Japan, Laos to cooperate on CDM
* New CDM guidelines likely to curtail supply: consultants
* CDM 'cheat's charter' should be scrapped, NGO urges
* India, Unido sign deal to green industry, boost CDM
* Revised Senate climate bill allows CERs – with restrictions
* Inaction on global warming could cost US $3.8 trillion by 2100: report
* Turkey could ratify Kyoto protocol by July: senior MP
* Global carbon market could be worth €2 trillion by 2020: report
* Australia should drop renewable target under ETS: government body
* Japan PM eyes ETS within five to 10 years: report
* Significant work remains for WCI: regulators
* Shareholders tell ExxonMobil to adopt climate targets
* EU lawmakers gear up to debate biofuels target
* Swedish companies in ETS see CO2 emissions fall in 2007
* San Francisco Bay area initiates nation's first GHG fee
* Market updates
* Conferences
CDM/JI/AAU
JAPAN, LAOS TO COOPERATE ON CDM
Japanese and Laotian leaders agreed on Thursday to enhance cooperation on
climate change issues, including boosting clean development mechanism
(CDM) and other projects aimed at helping Laos mitigate and adapt to
global warming.
pointcarbon.com
NEW CDM GUIDELINES LIKELY TO CURTAIL SUPPLY: CONSULTANTS
A major revision to UN guidance that offers advice to verifiers and
developers as to whether emission reduction projects are eligible for
international carbon trading is likely to restrict supply of credits,
developers of greenhouse gas reduction schemes told Point Carbon.
pointcarbon.com
CDM 'CHEAT'S CHARTER' SHOULD BE SCRAPPED, NGO URGES
The Kyoto protocol's clean development mechanism (CDM) is an expensive
flop and should be replaced, a report from a US environment group has
urged.
pointcarbon.com
INDIA, UNIDO SIGN DEAL TO GREEN INDUSTRY, BOOST CDM
The government of India and the UN Industrial Development Organisation
(Unido) have signed a $42-million deal that aims to promote clean
production and boost clean development mechanism (CDM) development among
small- and medium sized Indian firms.
pointcarbon.com
REVISED US SENATE CLIMATE BILL ALLOWS CERS – WITH RESTRICTIONS
The revised version of the Lieberman-Warner cap-and-trade bill would allow
US facilities to use international offset allowances to meet up to 5 per
cent of their future emissions caps under a mandatory emissions trading
programme, but only if they gain approval by US authorities.
pointcarbon.com
KYOTO/INTERNATIONAL
INACTION ON GLOBAL WARMING COULD COST US $3.8 TRILLION BY 2100: REPORT
Doing nothing about global warming could cost the US $3.8 trillion a year
by 2100, the equivalent to 3.6 per cent of the country’s GDP, according to
a report released Thursday by the Natural Resources Defense Council
(NRDC).
pointcarbon.com
TURKEY COULD RATIFY KYOTO PROTOCOL BY JULY: SENIOR MP
Turkey's parliament may ratify the Kyoto protocol by the start of July, a
move that could give the Mediterranean country a louder say in
international climate talks that will decide whether the country and other
advanced developing economies will have to take on targets post-2012.
pointcarbon.com
GLOBAL CARBON MARKET COULD BE WORTH €2 TRILLION BY 2020: REPORT
The introduction of a carbon emissions trading scheme in the US could push
the total global carbon market value up to €2 trillion ($3.12 trillion) by
2020, according to analysts at Point Carbon.
pointcarbon.com
AUSTRALIA SHOULD DROP RENEWABLE TARGET UNDER ETS: GOVERNMENT BODY
Australia’s mandatory renewable energy target (MRET) should be dropped as
it will drive up electricity prices but fail to impact greenhouse gas
emissions after the emissions trading scheme is introduced in 2010,
according to the government’s Productivity Commission.
pointcarbon.com
JAPAN PM EYES ETS WITHIN FIVE TO 10 YEARS: REPORT
Japanese Prime Minister Yasuo Fukuda has said that Japan will need to
introduce a mandatory greenhouse gas (GHG) emissions trading system
“within the next five to 10 years,” a Japanese news report said Thursday.
pointcarbon.com
SIGNIFICANT WORK REMAINS FOR WCI: REGULATORS
Officials governing the proposed US regional cap-and-trade programme the
Western Climate Initiative are still to decide whether to include
emissions from the transport sector in order to widen the scheme’s
coverage as well as how to allocate carbon credits.
pointcarbon.com
CORPORATE
SHAREHOLDERS TELL EXXONMOBIL TO ADOPT CLIMATE TARGETS
Institutional investors, with combined assets totalling $740 billion, will
call on oil major Exxon Mobil to disclose the risks and opportunities
associated with climate change.
pointcarbon.com
ENERGY & EMISSIONS
EU LAWMAKERS GEAR UP TO DEBATE BIOFUELS TARGET
The European parliament’s industry committee next week will debate a draft
report on renewable energy policy, including a proposal to delete the EU
commission’s proposed biofuels target in transport.
pointcarbon.com
SWEDISH COMPANIES IN ETS SEE CO2 EMISSIONS FALL IN 2007
Carbon dioxide (CO2) emissions from Swedish companies participating in the
EU emissions trading scheme in 2007 fell by around 870,000 tonnes in
comparison with the previous year – an indication the cap-and-trade market
is contributing to the reduction of climate-changing gases, government
agencies said today.
pointcarbon.com
SAN FRANCISCO BAY AREA INITIATES NATION'S FIRST GHG FEE
Oil refineries, power plants and manufacturers in some parts of the US
state of California will have to pay for greenhouse gases that they emit
after a local government agency in the state ruled Wednesday to tack a fee
of 4.4 cent per tonne to their permit bills.
pointcarbon.com
MARKET UPDATES
EUROPEAN ETS COMMENTARY: CARBON EXTENDS 2-YEAR-HIGH
Prices for allowances in Europe’s carbon cap-and-trade scheme extended a
two-year high on Thursday, prompted by a bullish energy sector, but carbon
eased back in the afternoon as traders took profits.
pointcarbon.com
MIDDAY MARKET UPDATE: EUA CARBON PRICES SOAR TO TWO-YEAR HIGH
Allowances in Europe's cap-and-trade market soared to a two year high
Thursday morning in response to record highs in energy commodities.
pointcarbon.com
CONFERENCES
FORECASTING CARBON PRICES WORKSHOP, 29 MAY, AMSTERDAM
This workshop is designed for traders, analysts and modelers who require
in-depth understanding of price drivers and price forecasting for the EU
emissions trading scheme. It will provide you with an insight into the
fundamental drivers determining the price of carbon and detailed
explanations of how the price of carbon develops in relation to the
underlying fundamentals. You will also get a presentation of Point
Carbon’s analytical framework for price forecasting, together with
presentations and discussions of different price scenarios. For more
information and to register, go to:
pointcarbon.com
RUSSIA AND THE KYOTO PROTOCOL, 4-5 JUNE, MOSCOW
For the third consecutive year, Point Carbon and our Moscow-based partner
the National Carbon Sequestration Foundation are hosting the largest
international conference in the Russian carbon market. Russia and the
Kyoto Protocol 2008 will provide an overview of the developments and
trends in the Eastern Europe carbon markets. Last year’s event gathered
over 350 participants from 25 countries. €100 early-bird discount is
available now - expires 22 April! For more information and to register, go
to:
pointcarbon.com
CO2 INTRODUCTORY TRAINING COURSE, 11 JUNE, HOUSTON
This training course is an introduction into all aspects of global and
emerging North American Carbon markets. The training is designed for
traders, analysts and risk managers in energy and financial services who
want a thorough understanding of the structure and dynamics of the carbon
markets. This course assumes the attendee has some basic knowledge of
commodities markets. For more information and to register, go to:
pointcarbon.com
CO2 INTRODUCTORY TRAINING COURSE, 12 JUNE, AMSTERDAM
The training course is designed for traders, analysts, risk managers or
executives who need a thorough understanding of how carbon markets work.
Through this course, you will gain insights into policy, legislation and
market dynamics as well as price analysis, and supply and demand drivers.
For more information and to register, go to:
pointcarbon.com
CO2 INTRODUCTORY and ADVANCED TRAINING COURSE, 17-18 JUNE, NEW YORK CITY
The training is designed for companies and other organizations with a
stake in carbon markets who want a thorough understanding of the structure
and dynamics of carbon markets. Through this course, you will gain
insights into policy, legislation and market dynamics as well as detailed
market volume and price analysis, and supply and demand drivers. The
course will also provide an integrated framework for participating and
trading in the compliance and voluntary markets. For more information and
to register, go to:
pointcarbon.com |
