CARBON IN THE NEWS
WEEK 9 2012
EU carbon price could double in 2012
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. "There is a chance
that the carbon price could rally significantly ... " the bank said in a research note. The benchmark EUA
contract was trading at around 9 euros ($12.00) a tonne on Friday. A price of at least 15 to 20 euros could
easily be reached by year-end if the set-aside plan is approved in the next few months, Lawson Steele,
utilities analyst at the bank, told Reuters. The EU's emissions trading scheme (ETS) caps the emissions of
factories and power plants in the 27-nation bloc, forcing them to buy carbon permits called EU
Allowances (EUAs) to cover their emissions output. Earlier this week, EU politicians backed a proposal to
withhold an unspecified number of carbon permits from the ETS from 2013, paving the way for the EU
Commission to intervene in the market to prop up low prices caused by over-supply and eurozone
economy concerns. To read this article in full
click hereGovernments embrace carbon voluntary market
A growing number of national and regional governments are likely to use voluntary carbon credits to meet
mandatory climate targets, a report by U.S. research company Ecosystem Marketplace said on Thursday.
The report said about 20 government programs had engaged with the voluntary carbon market, despite
doubts by some companies, green groups, policymakers and consumers that carbon credits are an
appropriate means of o
skepticism to acceptance of the voluntary carbon o
Ecosystem Marketplace's carbon program manager Molly Peters-Stanley. She added: "Some voluntary
programs are even writing the rules for regulated carbon markets as governments outsource a growing list
of market functions to independent bodies - leaning on their accumulated experience with carbon o
projects." To read this article in full
ffsetting emissions. "In a few short years, governments have shifted fromffset market as a valid complement to regulation," saidffsetclick hereChina says EU carbon rule to cost $2.8 bln by 2030
The European Union's plan to charge airlines for their greenhouse gas emissions would rise dramatically to
cost Chinese airlines 18 billion yuan ($2.8 billion) a year by 2030, China's civil aviation head said on
Monday. China would continue to push the EU to axe the scheme, which has angered countries including
the United States and India, but was not planning to take retaliatory measures, said Li Jiaxiang, chief of
China's Civil Aviation Administration. "We are not in a position where we have to retaliate," Li told
reporters on the sidelines of China's annual parliament meetings. The United States said last month it had
not yet decided whether to retaliate against the EU over the carbon plan. Li reiterated that the plan would
raise annual costs for China's airlines by 800 million yuan ($127 million) initially, and said this would rise
to 3 billion yuan by 2020 and 18 billion yuan by 2030. He did not elaborate.
To read this article in full 40‚000 biogas plants registered for carbon trading
Nepal’s 40,000 biogas plants have been registered with the Clean Development Mechanism of the United
Nations Climate Change Convention (UNFCC) for carbon trading. According to the Alternative Energy
Promotion Centre (AEPC) under the Ministry of Environment, the executive board of UNFCCC has
approved 40,602 biogas plants so far. “Now, biogas use helps us reduce carbon dioxide emissions and earn
foreign exchange,” said Sandip Joshi, o
$2.1million for about 20,000 biogas plants in 2006 where the World Bank bought carbon dioxide at $7 per
tonne reduced due to the use of biogas. The UNFCCC had established a mechanism to reduce the
emission of greenhouse gases like carbon dioxide under which developed countries can buy carbon from
the least developed and developing countries to reduce the global emission of carbon dioxide, a major
agent for global warming and climate change. To read this article in full
China to tighten control over water resources
BEIJING - China will impose the strictest control over water resources, according to a government work
report released to the media ahead of the parliament's annual session. The government will rationally set
and adjust water resource fees in di
for agricultural purposes, says the report to be delivered by Premier Wen Jiabao at the opening meeting of
the Fifth Session of the National People's Congress (NPC). The report came after the Ministry of Water
Resources (MWR) said earlier last month it would invest more than 140 billion yuan ($22.2 billion) in water
conservation projects this year, higher than 114.1 billion yuan last year. The report also vows to improve
pricing mechanisms for nuclear power, hydropower, and power generated from other renewable energy
sources. A draft plan for water conservation covering 2011-2015 targets involves a total investment of 1.8
trillion yuan ($285.7 billion), according to the MWR. To read this article in full
£250m Center Parcs village will be “exemplary sustainable tourism destination”
A new £250 million Center Parcs village will be built to the "highest energy e
standards", the British holiday parks group said. Center Parcs confirmed today it will start construction on
its fifth village at Woburn in Bedfordshire after its owner, Blackstone, committed to invest around £100
million of new cash equity into the business and lending was secured from RBS, Barclays, HSBC and
Lloyds Banking Group. The holiday company said the investment would create 1500 new jobs and an
"exemplary sustainable tourism destination". "The new village is going to be designed to the highest
energy e
GreenWise. "Woburn Forest will be an exemplary sustainable tourism destination. We are investing in
energy e
than the average existing village." Woburn Forest, which is scheduled to open in Spring 2014, will
comprise of 625 low carbon forest lodges and a 75-bed hotel and spa. Other facilities will include indoor
and outdoor sports facilities, restaurants, retail units, a lake and swimming pool.
To read this article in full t: +44 (0) 20 3384 8680
www.gmouk.comfficiency and sustainabilityfficiency and sustainability standards," Chris Brooks, Center Parcs sustainability manager toldfficiency and renewable technologies to achieve our aim of consuming 25 per cent less energyclick here