South Korea approves carbon trading scheme

(Reuters) - South Korea's lawmakers approved a national emissions trading scheme on Wednesday to tackle its growing greenhouse gas emissions, overcoming strong industry opposition and joining a growing number of nations to put a price on carbon.

Read more...
 

Bilateral Carbon Trade Surged Last Year, World Bank Says

The value of bilateral carbon trading surged 15 percent last year after thefts of European Union emission allowances suspended prompt trading on exchanges, the World Bank said.

EU greenhouse-gas trades that didn’t involve exchanges or brokers surged to $17.3 billion, the bank said today in its yearly report on CO2 markets. ICE Futures Europe suspended prompt trading in January last year after thefts of allowances roiled buyers. BlueNext SA, the Paris spot exchange that also temporarily halted transactions, reopened for trading Feb. 4.

Read more...
 

Voluntary Carbon Offsetting Hits Three-Year High on US Action, Wind Farms, and Clean Development

COLOGNE, Germany, May 31, 2012 (BUSINESS WIRE) -- Carbon Expo | The market for voluntary carbon offsetting hit a three-year high in 2011, transacting more than $576 million of offsets, second only to 2008's record $776 million. This finding comes from the 6th "State of the Voluntary Carbon Markets" report, released today at Carbon Expo in Cologne, Germany by Forest Trends' Ecosystem Marketplace initiative in partnership with Bloomberg New Energy Finance. Among the report's most surprising findings are a significant increase in demand from buyers in the US and major changes in the mix of offsets capturing market share, such as record sales of offsets from Asian wind farms and the coming-of-age of clean development projects in Africa.

Read more...
 

Global carbon market value rises to record $176 bln

* Global carbon market value up 11 pct on year

* EU carbon market value rises to $148 bln

* Secondary emissions offset volumes rise 43 pct (Adds quote from BVRio executive in paragraph 12)

COLOGNE, Germany, May 30 (Reuters) - Carbon market trading rose 11 percent to a record value of $176 billion in 2011 as an increase in secondary trading volumes offset lower prices and slowing economies, the World Bank said on Wednesday.

Read more...
 

South Korean Parliament Approves Carbon Trading System

South Korea approved a cap-and-trade system to cut greenhouse gases as President Lee Myung Bak seeks support for new restrictions on factories and power plants in the fastest-growing emitter among industrialized democracies.

Read more...
 

Shanghai bank eyes carbon market

Shanghai-listed Pudong Development Bank has signed a strategic deal with a local carbon exchange, aiming to development financial products targeted at companies to be regulated by the city’s new emissions trading scheme next year.

Read more...
 

Mercuria strikes deal to buy 1.6 mln African CO2 credits

Swiss-based trading house Mercuria has signed a deal to buy 1.6 million post-2012 carbon credits from a 40-MW biomass plant in the Ivory Coast for an undisclosed price, according to a statement by brokers ecosur Afrique.

Read more...
 

JP Morgan China chief urges Beijing to scale up CO2 trade

The CEO of JP Morgan in China has proposed the country should speed up the introduction of a nationwide emissions trading scheme in order to have a say in the way global carbon market develop.

Read more...
 

Guangdong switches exchange for new CO2 market

China’s Guangdong province has made the Guangzhou Exchange Service Group (GZESG) its favoured trading platform for its pilot emissions trading scheme, replacing the Southern United Asset and Equity Exchange.

Read more...
 

CCAs soar 14 pct as new buyer pushes prices

California carbon allowances (CCAs) for delivery in 2013 hit their highest price this year, gaining $1.85/t from the previous week to close at $15.50/t on Thursday, on the back of new buying, market sources said.

Read more...
 

US Sets New Carbon Standard for Power Plants

The Obama administration has vowed to reduce US carbon emissions, but its efforts face strong opposition from industry.

THE GIST

  • Power plants will not be allowed to emit more than 1,000 pounds (454 kilograms) of carbon pollution per megawatt hour.
  • Standard coal plants currently emit nearly 1,800 pounds an hour.
  • The new rules will apply to future sites and give coal-fired plants decades to meet the new standards.
  • The United States on Tuesday set the first nationwide carbon standards on power plants, seeking to curb emissions from the burning of coal and revive the flagging fight against climate change.
  • After more than a year of deliberations on the politically charged proposal, President Barack Obama's administration said it would only apply the rules to future sites and gave coal-fired plants decades to meet the new standards.

Read more...
 

US proposes first carbon limits on power plants

  • Carbon rules only apply to new plants
  • Rules opposed by Republicans, some in industry
  • Could halt building of coal plants that don't bury CO2 (Adds that rules will not apply to plants built over next year in paragraph 2)

By Timothy Gardner

WASHINGTON, March 27 (Reuters) - The Obama administration proposed on Tuesday the first rules to cut carbon dioxide emissions from new U.S. power plants, a move hotly contested by Republicans and industry in an election year.

Read more...
 

US airlines drop lawsuit over EU carbon emissions charges

Private legal challenge by group of US airlines against EU charges is pulled in hope their government will take over issue.

A group of US airlines has dropped its private lawsuit challenging a European Union law charging airlines for carbon emissions on flights to and from Europe calling on the US government to take over the issue.

Read more...
 

SocGen ups year-end carbon price outlook by 10 pct

Tue, Mar 20 2012

  • Says short-term upside limited
  • Says EUAs unlikely to fall to 6 euros a tonne

LONDON, March 20 (Reuters) - Societe Generale has lifted its year-end price forecast for European Union carbon permits by 10 percent, citing an increased probability that the EU will agree to withhold some of the carbon market's excess supply, the French bank said.

Read more...
 

EU carbon price could double this year-Espirito

Fri, Mar 2 2012

  • EUAs seen at 15-20 eur/t by year-end if set-aside passed
  • Higher price would raise profitability of nuclear, hydro

LONDON, March 2 (Reuters) - The price of European Union emissions permits could rally to double their current value by the end of the year if a plan to withhold permits is passed, Portuguese Espirito Santo Investment Bank said on Friday.

Read more...
 

China says EU carbon rule to cost $2.8 bln by 2030

BEIJING (Reuters) - The European Union's plan to charge airlines for their greenhouse gas emissions would rise dramatically to cost Chinese airlines 18 billion yuan a year by 2030, China's civil aviation head said on Monday.

Read more...
 

EU Carbon Price Could Double This Year-Espirito

LONDON, March 2 (Reuters) - The price of European Union emissions permits could rally to double their current value by the end of the year if a plan to withhold permits is passed, Portuguese Espirito Santo Investment Bank said on Friday.

This could raise power prices and the profitability of nuclear and hydro plants, it said.

Read more...
 

First Middle East Carbon Market – Dubai!

Dubai will develop a strategy to reduce carbon dioxide and greenhouse gas emissions, as well as recommendations for ultimately monetising them through a groundbreaking carbon trading scheme, it was announced today.

Read more...
 

Virgin raises prices due to carbon

Virgin Australia says its domestic ticket prices will rise by as much as $6 per flight due to the federal government's carbon pricing scheme.

Virgin said on Tuesday that a $1.50 surcharge would be applied for flights of less than 900 kilometres from March 1, rising to $3 for flights between 901-2000 kilometres and $6 for sectors longer than 2000 kilometres.

Read more...
 

EU will respond to any airline carbon retaliation

BRUSSELS, Feb 28 (Reuters) - The EU will respond to any retaliation over its law imposing carbon charges on all flights but is working with the United States and the International Civil Aviation Organization (ICAO) to find a solution, a senior Commission official said.

Read more...
 

Carbon Trading to Double in North America This Year

Carbon trading in North America is poised to double this year with the inauguration of carbon markets in California and Quebec, and the total value of the Western Climate Initiative is set to surpass that of the eastern Regional Greenhouse Gas Initiative, according to Reuters.

Read more...
 

China's Duan to chair U.N. carbon executive board

(Reuters) - Maosheng Duan of China was on Monday named chairman of the executive board for the Clean Development Mechanism, becoming the first person from the world's top polluter to oversee the UN-backed carbon market for developing nations.

Read more...
 

EU carbon prices surge on hopes of phase III allowance 'set-aside'

The European Commission will wait for final decisions from the European Parliament and Council, not just from the Parliament committees, before it brings forward a proposal to reduce the number of permits in the EU Emissions Trading Systems (ETS), a spokesman said on Friday.

Read more...
 

Spain Needs $466 Million in Carbon Credits to Meet Kyoto Limit

Spain may need to buy at least 355 million euros ($466 million) of carbon emissions permits to meet its obligations under the Kyoto Protocol, Agriculture Minister Miguel Arias-Canete said.

Read more...
 

Parliament moves to boost carbon price

The European Parliament has today sent a strong signal that the price of carbon emissions must be raised by fixing the Emissions Trading System (ETS) – one of the EU’s key laws on climate change.

Read more...
 

Ryanair adds 25p green tax levy to fares

No-frills airline Ryanair is to add 25p to all bookings from next week to cover the cost of the European emissions trading system (ETS) green tax scheme.

Read more...
 

FSA Joins Global Call For Carbon Emission Reduction From Ships

MANILA, Philippines — The Filipino Shipowners Association (FSA) has joined the global call for the reduction of greenhouse emissions from international shipping.

Read more...
 

S.Korea CO2 scheme passes hurdle, awaits parliament vote

  • Special committee meeting approves bill on Wednesday
  • Legal committee to review before plenary session on Feb 16
  • If approved, it will be Asia's third CO2 pricing scheme

SEOUL, Feb 8 (Reuters) - Plans for an emissions trading scheme in South Korea passed a major hurdle on Wednesday after a multi-party committee approved laws governing the programme that could be passed by parliament as early as next week.

Read more...
 

Carbon Disclosure Raises Stock Prices, Study Finds

Companies that voluntarily issue press releases disclosing their carbon emission information see their stock prices rise significantly in the following days, according to a University of California study.

Read more...
 

New focus on opening up markets for carbon trade

AUSTRALIA'S top priority at the next United Nations climate change meeting will be clinching bilateral deals to connect the domestic emissions trading scheme with others around the world as the government seeks to ensure Australian businesses have access to carbon markets despite glacial progress towards an international climate deal.

Read more...
 

Kyoto Protocol Extended To 2017

Countries from around the world meeting in Durban have agreed on a program meant to force all the biggest polluters to limit greenhouse gas emissions for the first time.
A complex package of accords, agreed in the early hours of Sunday after marathon United Nations talks in Durban, South Africa, extended the 1997 Kyoto Protocol, Reuters reported.

Read more...
 

EU outlines steps to activate single carbon registry

The European Commission outlined steps on Wednesday to activate a single EU carbon registry.
As of January 30, 2012, it will partially activate its single carbon registry to allow airlines to open registry accounts and receive free carbon permits by the end of February.

Read more...
 

China issues White Paper on climate change

BEIJING, (Xinhuanet) -- The Chinese government has outlined major initiatives to combat climate change on Tuesday. The country's top economic planning body has issued a White Paper on the issue, summarizing past efforts, and laying out a clear road map for green development over the next five years.

Read more...
 

Australia, New Zealand could link carbon trade schemes in 2015

Australia and New Zealand said on Monday they could link their carbon trading schemes as soon as 2015, immediately after Australia's government moved from a fixed carbon tax to the world's second-largest market scheme to cut pollution.
After talks in Durban, South Africa, on the sidelines of global talks on a successor to the Kyoto climate pact, Australia's Minister for Climate Change Greg Combet and his New Zealand counterpart Tim Groser said both countries were aiming to link their two schemes as soon as possible.

Read more...
 
<< Start < Prev 1 2 Next > End >>

Page 2 of 2

News