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Carbon Price, Green Hydrogen -- Notable Quotes
Green Hydrogen, Carbon Tax
Date: 2021-08-09
"Even if European carbon prices (tax) more than tripled to €200 ($236), hydrogen from renewable energy would still struggle to compete with fossil fuels without further government support.

"To make the average renewable hydrogen project competitive with a fossil alternative will require annual subsidies of as much as €24 billion this decade."

Guidehouse www.guidehouse.com; Agora Energiewende, www.agora-energiewende.de/en, July, 2021

More Low-Carbon Energy News Green Hydrogen,  Carbon Tax,  Carbon Price,  


EC European Green Deal -- "Fit for 55" -- Proposes Massive Transformation to Meet Climate Change Ambitions (Int'l. Report)
European Green Deal
Date: 2021-07-16
On Wednesday the 14th, the European Commission (EC) announced the adoption of a package of proposals to make the EU's climate, energy, land use, transport and taxation policies fit for reducing net greenhouse gas emissions by at least 55 pct by 2030 (Fit for 55), compared to 1990 levels. Achieving these emission reductions in the next decade is crucial to Europe becoming the world's first climate-neutral continent by 2050 and making the European Green Deal a reality. With today's proposals, the Commission is presenting the legislative tools to deliver on the targets agreed in the European Climate Law and fundamentally transform our economy and society for a fair, green and prosperous future. The following proposals will enable the necessary acceleration of greenhouse gas emission reductions in the next decade:

  • The EU Emissions Trading System (EU ETS) puts a price on carbon and lowers the cap on emissions from certain economic sectors every year. It has successfully brought down emissions from power generation and energy-intensive industries by 42.8 pct in the past 16 years. The EC is proposing to lower the overall emission cap even further and increase its annual rate of reduction and to phase out free emission allowances for aviation and align with the global Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) and to include shipping emissions for the first time in the EU ETS.

    To complement the substantial spending on climate in the EU budget, Member States should spend the entirety of their emissions trading revenues on climate and energy-related projects. A dedicated part of the revenues from the new system for road transport and buildings should address the possible social impact on vulnerable households, micro-enterprises and transport users.

  • The Effort Sharing Regulation assigns strengthened emissions reduction targets to each Member State for buildings, road and domestic maritime transport, agriculture, waste and small industries. Recognizing the different starting points and capacities of each Member State, these targets are based on their GDP per capita, with adjustments made to take cost efficiency into account.

  • Member States also share responsibility for removing carbon from the atmosphere, so the Regulation on Land Use, Forestry and Agriculture sets an overall EU target for carbon removals by natural sinks, equivalent to 310 million tonnes of CO2 emissions by 2030. National targets will require Member States to care for and expand their carbon sinks to meet this target. By 2035, the EU should aim to reach climate neutrality in the land use, forestry and agriculture sectors, including also agricultural non-CO2 emissions, such as those from fertilizer use and livestock. The EU Forest Strategy aims to improve the quality, quantity and resilience of EU forests. It supports foresters and the forest-based bioeconomy while keeping harvesting and biomass use sustainable, preserving biodiversity, and setting out a plan to plant three billion trees across Europe by 2030.

  • Energy production and use accounts for 75 pct of EU emissions, so accelerating the transition to a greener energy system is crucial. The Renewable Energy Directive will set an increased target to produce 40 pct of our energy from renewable sources by 2030. All Member States will contribute to this goal, and specific targets are proposed for renewable energy use in transport, heating and cooling, buildings and industry. To meet both our climate and environmental goals, sustainability criteria for the use of bioenergy are strengthened and Member States must design any support schemes for bioenergy in a way that respects the cascading principle of uses for woody biomass.

  • To reduce overall energy use, cut emissions and tackle energy poverty, the Energy Efficiency Directive will set a more ambitious binding annual target for reducing energy use at EU level. It will guide how national contributions are established and almost double the annual energy saving obligation for Member States. The public sector will be required to renovate 3 pct of its buildings each year to drive the renovation wave, create jobs and bring down energy use and costs to the taxpayer.

  • A combination of measures is required to tackle rising emissions in road transport to complement emissions trading. Stronger CO2 emissions standards for cars and vans will accelerate the transition to zero-emission mobility by requiring average emissions of new cars to come down by 55 pct from 2030 and 100 pct from 2035 compared to 2021 levels. As a result, all new cars registered as of 2035 will be zero-emission. To ensure that drivers are able to charge or fuel their vehicles at a reliable network across Europe, the revised Alternative Fuels Infrastructure Regulation will require Member States to expand charging capacity in line with zero-emission car sales, and to install charging and fuelling points at regular intervals on major highways: every 60 kilometres for electric charging and every 150 kilometres for hydrogen refuelling.

  • Aviation and maritime fuels cause significant pollution and also require dedicated action to complement emissions trading. The Alternative Fuels Infrastructure Regulation requires that aircraft and ships have access to clean electricity supply in major ports and airports. The ReFuelEU Aviation Initiative will oblige fuel suppliers to blend increasing levels of sustainable aviation fuels in jet fuel taken on-board at EU airports, including synthetic low carbon fuels, known as e-fuels. Similarly, the FuelEU Maritime Initiative will stimulate the uptake of sustainable maritime fuels and zero-emission technologies by setting a maximum limit on the greenhouse gas content of energy used by ships calling at European ports.

  • The tax system for energy products must safeguard and improve the Single Market and support the green transition by setting the right incentives. A revision of the Energy Taxation Directive proposes to align the taxation of energy products with EU energy and climate policies, promoting clean technologies and removing outdated exemptions and reduced rates that currently encourage the use of fossil fuels. The new rules aim at reducing the harmful effects of energy tax competition, helping secure revenues for Member States from green taxes, which are less detrimental to growth than taxes on labour.

  • Finally, a new Carbon Border Adjustment Mechanism (Tax) will put a carbon price on imports of a targeted selection of products to ensure that ambitious climate action in Europe does not lead to 'carbon leakage.' This will ensure that European emission reductions contribute to a global emissions decline, instead of pushing carbon-intensive production outside Europe. It also aims to encourage industry outside the EU and our international partners to take steps in the same direction.

    European Green Deal, www.ec.europa.eu/info/strategy/priorities-2019-2024/european-green-deal_en. (Source: EC, PR, 14 July, 2021)

    More Low-Carbon Energy News European Green Deal,  


  • Shanghai Emissions Contracts to Start Trading This Month (Int'l.)
    China Carbon Market,Shanghai Environment and Energy Exchange
    Date: 2021-07-09
    Following up on our June 30th coverage, the South China Morning Post is reporting the Shanghai Environment and Energy Exchange -- a crucial market-based mechanism to put China on track to reach carbon-neutral status by 2060 -- will begin trading of roughly 4 billion tonnes of carbon emissions contracts before the end of this month, July, 2021.

    The Shanghai exchange is expected to surpass the European Union's Emissions Trading Scheme (EU ETS), currently the largest, which seeks to cap 1.61 billion tonnes of carbon emission this year. With an average traded price of $28.28 a tonne, the scheme raised $21.8 billion last year. Some $80.7 billion have been raised on the EU ETS since trading stared in 2005, according to International Carbon Action Partnership.

    China's industrial sector reportedly accounted for 28.7 pct of carbon emissions in 2019, while the transport industry made up 8.6 pct and buildings contributed 7 pct, according to the Emission Database for Global Atmospheric Research. (Source: China Center for Energy Economics Research, Xiamen University, Xinhua, South China Morning Post, 8 July, 2021) Contact: China National Development and Reform Commission, www.en.ndrc.gov.cn; China Center for Energy Economics Research, Xiamen University, www.energyxmu.edu.cn

    More Low-Carbon Energy News Shanghai Environment and Energy Exchange,  EU ETS,  Carbon Price,  China Carbon Market,  Carbon Trading,  Carbon Emissions,  


    Carbon Price, Green Hydrogen -- Notable Quotes
    Carbon Tax
    Date: 2021-07-07
    "Even if European carbon prices more than tripled to €200 ($236), hydrogen from renewable energy would still struggle to compete with fossil fuels without further government support.

    "To make the average renewable hydrogen project competitive with a fossil alternative will require annual subsidies of as much as €24 billion this decade." -- Guidehouse www.guidehouse.com; Agora Energiewende www.agora-energiewende.de/en -- Bloomberg, July, 2021

    More Low-Carbon Energy News Green Hydrogen,  Carbon Emissions,  Carbon Price,  Carbon Tax,  


    IMF Proposes International Carbon Price Floor (Ind. Report)
    International Monetary Fund
    Date: 2021-06-28
    According to the Washington, DC-based International Monetary Fund (IMF), CO2 and other greenhouse gases must fall by a minimum 25 - 50 pct over the next decade to achieve the goal of restricting global warming to below 2 degree C. The fastest and most practical way to achieve this is by creating an international carbon price -- carbon tax -- floor arrangement, the IMF adds.

    The IMF notes carbon pricing has a wide environmental and social aim of encouraging producers and companies to reduce their carbon footprint in a bid to combat climate change, which is linked to greenhouse gas emissions.

    According to IMF, 80 pct of global emissions are currently un-priced and the average price for global emissions is only $3 a tonne. "As a knock-on effect, some countries and regions with high or rising carbon prices are considering placing charges on the carbon content of imports from places without similar schemes," the IMF said. But the IMF notes that the "charges on carbon content are insufficient instruments (to fight climate change) as carbon embodied in trade flows is typically less than 10 pct of a countries' total emissions."

    According to the IMF, a minimum carbon price "is an efficient, concrete, and easily understood policy instrument. Simultaneous action among large emitters to scale up carbon pricing would deliver collective action against climate change while decisively addressing competitiveness concerns. The focus on a minimum carbon price parallels the current discussion on a minimum for the tax rate in international corporate taxation." (Source: IMF, Daily Maverick 168, 24 June, 2021) Contact: IMF, Kristalina Georgieva, Dir., www.imf.org

    More Low-Carbon Energy News International Monetary Fund,  Climate Change Carbon Tax,  


    EU ETS Carbon Price Tops €50 per Tonne (Int'l. Report)
    EU ETS
    Date: 2021-05-05
    The EU carbon price has extended its record-breaking rally to jump above €50 ($60 US) a tonne for the first time, pushing up the cost of polluting in the bloc to more than double its pre-pandemic level.

    The EU Emissions Trading System (U ETS), which is designed to put a cost on carbon dioxide for some of the most highly polluting industries ranging from power generation, cement production to aviation, has rallied more than 50 pct since the start of the year. (Source: Various Media, 4 Apr., 2021)

    More Low-Carbon Energy News EU ETS,  Carbon Price,  


    European Parliament Approves Border Carbon Tax, (Int'l., Ind. Report)
    European Parliament
    Date: 2021-03-12
    The 27-member European Union Parliament (EP) reports it has approved a proposal Carbon Border Adjustment Mechanism -- a tax om imports from countries that do not impose a national carbon price. The tax is slated to come into force in 2023, with the precise details expected be announced in June, this year.

    The EU's tax is intended to prevent "carbon leakage" -- carbon emissions that go offshore in response to carbon pricing -- rather than actually being cut. The EU tax will be imposed on carbon intensive imports and will be equivalent to what EU-based industry must pay under the European Union Emissions Trading Scheme (EU ETS).(Source: EU, European Parliment, Mar. 2020) Contact: EU, www.europa.eu

    More Low-Carbon Energy News European Parliament,  Border Carbon Tax,  EU ETS,  


    Canada Outlines GHG Credit Trading System (Ind. Report)
    Environment and Climate Change Canada
    Date: 2021-03-10
    Reporting from Ottawa, Environment and Climate Change Canada has announced draft regulations to establish the market-based Federal Greenhouse Gas Offset System to reduce carbon emissions, spur innovation and private-sector investment in economic activities that lead to further emissions reductions and create jobs.

    The offset rules will be part of the 2018 Greenhouse Gas Pollution Pricing Act, which enabled a sweeping tax on emissions on everything from industrial pollution to home-heating fuel, and will support a domestic carbon trading market under Canada's carbon price for industry -- the Output-Based Pricing System (OBPS) -- under which regulated facilities that exceed their emission limits can provide compensation by purchasing federal offset credits -- an additional lower-cost option -- generated from activities not already incentivized by carbon pollution pricing.

    Once established, the Federal Greenhouse Gas Offset System will stimulate demand for projects across Canada that reduce greenhouse gases and generate federal offset credits. The ability to generate and sell federal offset credits creates opportunities for farmers, foresters, Indigenous communities, municipalities, and other project developers to earn revenues from greenhouse-gas reductions and removals.

    Protocols for high priority project types are currently under development in parallel to the regulation to give industries additional lower-cost compliance options. For example, under the Landfill Methane Management Protocol, which is currently under development, a municipality could install technology to collect methane that would otherwise be emitted into the atmosphere. The municipality could earn federal offset credits, which it could sell to industrial facilities regulated under the Output-Based Pricing System. Canada is aiming for net-zero emissions by 2050. (Source: Environment and Climate Change Canada, Website PR, Mar., 2021) Contact: Environment and Climate Change Canada, www.canada.ca/en/environment-climate-change.html

    More Low-Carbon Energy News Environment and Climate Change Canada ,  Carbon Credit,  Carbon Tax,  GHG,  Carbon Offset,  


    European Carbon Price Rises to Record High (Int'l. Report)
    EU ETS
    Date: 2021-02-05
    The price of carbon in Europe has risen to €38, a record high with prices adding more than 13 pct over the past two sessions as traders rushed to secure supplies of EU emissions allowances.

    A 6.8 pct rise on Wednesday, February 4th followed a 6.5 pct jump in the previous session. The price of carbon has risen by 66 pct since early November, 2020. (Source: Various Media, FT, 3 Feb., 2021)

    More Low-Carbon Energy News EU ETS,  Carbon Emissions,  arbon Price,  


    UK Confirms Post-BREXIT Emissions Trading Scheme (Int'l. Report)
    UK Carbon Emissions
    Date: 2020-12-16
    In London, the UK Conservative government of PM Boris Johnson has confirmed the introduction of a national emissions trading scheme (UK ETS) to replace the EU system (EU ETS) when BREXIT comes into force on 1 Jan., 2021.

    The UK ETS would immediately lower the current EU cap on greenhouse gases that businesses can emit by 5 pct and thus provide greater certainty about the decarbonisation trajectory over the long term and deliver a "robust carbon price signal" to spur business to invest in carbon abatement -- CCS.

    The UK ETS would initially apply to electric power generation, aviation and other energy-intensive industries, and carbon pricing could be expanded across the economy, the paper showed.

    Britain is aiming for net-zero carbon emissions by 2050 and recently increased its emissions reduction target from 57 to 68 pct for 2030. (Source: Various Media, ENDS Europe, Yahoo Finance UK, 14 Dec., 2020)

    More Low-Carbon Energy News EU ETS,  UK Carbon Emissions,  Carbon Emissions,  


    Strict UK Post-Brexit ETS Expected (Int'l. Report)
    UK Department for Business, Energy and Industrial Strategy
    Date: 2020-12-04
    According to Fitch Ratings, the UK is increasingly likely to adopt a post-Brexit national emissions trading system (ETS) similar to the EU ETS.

    The UK emissions trading scheme would be similar to the EU ETS but would apply a tighter emissions cap, higher fines than under the EU ETS and could lead to higher carbon prices -- £100 per tonne -- for the roughly 1,000 UK-based businesses currently covered by the EU ETS but will move to the new scheme, according to the UK Department for Business, Energy and Industrial Strategy (BEIS). (Source: UK Department for Business, Energy and Industrial Strategy, Fitch Ratings, Dec, 2020) Contact: BEIS, +44 0 20 7215 5000, enquiries@beis.gov.uk, www.gov.uk/government/organisations/department-for-business-energy-and-industrial-strategy

    More Low-Carbon Energy News UK BEIS,  EU ETS,  Emission Trading,  Carbon Emissions ,  


    UN Climate Change Fosters Regional Carbon Pricing (Int'l. Report)
    UNFCCC
    Date: 2020-10-12
    The Collaborative Instruments for Ambitious Climate Action (CiACA) workstream of the UNFCCC has concluded the first series of "virtual" regional dialogues on carbon pricing (REdiCAP) in Latin America, Caribbean, West Africa, East and Southern Africa and South East Asia.

    The dialogues aim was to create a platform to provide an opportunity for peer learning to countries that have an interest in carbon pricing instruments, which are crucial to help countries green their economies. The dialogues came at a crucial time with Parties committed to revising their national climate action plans -- Paris Climate Agreement Nationally Determined Contributions (NDCs) -- and willing to explore economic instruments to increase their ambition to tackle climate change.

    Several participating countries expressed interest in receiving the support provided through the CiACA initiative to explore the adoption of carbon pricing instruments. In response to a request for support, the CiACA team through the RCCs can assist the targeted institutions in facilitating consultations with key stakeholder and providing technical assistance to identify economic instruments that can be adopted by the country to contribute to achieving a low carbon future. (Source: UN Climate Change News, 9 October 2020) Contact: REdiCAP and CiACA , Monique Nardi, mnardi@unfccc.int, www.unfccc.int

    More Low-Carbon Energy News UNFCCC,  Carbon Emissions,  Carbon Price,  


    Private Sector Cooperates to Scale Carbon Offsetting Markets (Int'l.)
    Carbon Markets,Institute of International Finance
    Date: 2020-09-04
    The Institute of International Finance (IIF) is reporting Unilever, Nestle, BP and Shell are among the 40 top private sector members of a new Taskforce on Scaling Voluntary Carbon Markets spearheaded by former Bank of Canada and Bank of England Governor Mark Carney.

    The Taskforce will work to take stock of existing voluntary offsetting schemes and identify key challenges to scaling them up while helping businesses meet their own commitments and to align with legally binding climate targets in the markets where they operate. It is also hoped the Taskforce will play a role in boosting carbon prices which stood at a global average of $2 per ton in Oct., 2019.

    According to Carney , the current market for offsets will need to grow by at least 15-fold by 2030 if the private sector is to align with the Paris Agreement's 1.5C trajectory by 2050. Carney noted it may need to be up to 160 times bigger than in 2020, should corporates rely on offsetting rather than emissions reductions. (Source: IIF, Taskforce on Scaling Voluntary Carbon Markets, edie, PR, Sept., 2020) Contact: Institute of International Finance, Taskforce on Scaling Voluntary Carbon Markets, info@iif.org, www.iif.com/tsvcm/Main-Page/Publications/ID/4061/Private-Sector-Voluntary-Carbon-Markets-Taskforce-Established-to-Help-Meet-Climate-Goals

    More Low-Carbon Energy News Institute of International Finance ,  Carbon Emissions,  Carbon Markets,  


    CERI Touts EU ETS Over Carbon Tax to Cut Emissions (Ind. Report)
    Canadian Energy Research Institute
    Date: 2020-08-19
    A recent study from the Canadian Energy Research Institute (CERI) compared the province of British Columbia's $40 per tonne carbon tax and Alberta's Technology Innovation and Emissions Reduction (TIER) program taxing heavy emitters $30 a tonne, to the European emissions trading scheme (EU ETS) and Quebec's cap-and-trade agreement with California and noted that overall, the EU ETS policy was more effective at reducing greenhouse gas (GHG) emissions than the Carbon Tax policy or a Hybrid policy.

    In keeping with the study findings, the CERI study proposed the following to lower emissions:

  • Both carbon tax and emissions trade systems have a great capacity to reduce GHG emissions; however, a level at which they are utilized is not adequate for significant change towards low carbon economies;

  • Strengthening existing and adding new carbon policies and actions, especially those that can deal with carbon leakage, is needed;

  • Current carbon prices in many jurisdictions remain insufficient to achieve the objectives of the Paris Agreement, even with extended carbon pricing policies in place to align with the specific GHG reduction targets;

  • Stronger complementary policies and actions are needed to achieve the total reductions in GHG emissions in a case of the BC carbon tax;

  • Lessons from ETS systems, especially California's cap-and-trade system, has revealed that the economy-wide approach can be more efficient than managing specific sectors differently;

  • Linkage of a cap-and-trade system with those in other jurisdictions (such as California's cap-and trade system linked with Quebec) could potentially reduce abatement costs, price volatility, and market power.

    The Calgary-based Canadian Energy Research Institute is an independent, not-for-profit research establishment created through a partnership of industry, academia, and government in 1975. CERI aims to provide relevant, independent, objective economic research in energy and environmental issues to benefit business, government, academia and the public and to build bridges between scholarship and policy,combining the insights of scientific research, economic analysis, and practical experience. (Source: Canadian Energy Research Institute, PR, Western Standard, Aug., 2020) Contact: Canadian Energy Research Institute, (403) 282-1231, info@ceri.ca, www.ceri.ca

    More Low-Carbon Energy News Canadian Energy Research Institute,  ETS,  Carbon Tax,  Carbon Emissions ,  


  • Dow Targeting Carbon Neutrality by 2050 (Ind. Report)
    Dow
    Date: 2020-06-17
    Midland Michigan-headquartered Dow has announced aggressive new commitments and targets to address both climate change and plastic waste:
  • By 2030, Dow will reduce its net annual carbon emissions by 5 million metric tons, or 15 pct from its 2020 baseline. Additionally, Dow intends to be carbon neutral by 2050, in alignment with the Paris Agreement, and is committed to implementing and advancing technologies to manufacture products using fewer resources and that help customers reduce their carbon footprints.

  • By 2030, Dow will help stop plastic waste by enabling 1 million metric tons of plastic to be collected, reused or recycled through its direct actions and partnerships. The company is investing and collaborating in key technologies and infrastructure to significantly increase global recycling.

    To date, Dow has reduced its GHG emissions by 15 pct; Incorporated a carbon price into its business planning; and invested in renewable power capacity -- Dow is the number one user of clean energy in the chemicals industry and ranks among the top 25 global corporations in terms of renewable power use, according to the company's Sustainability Report.

    Dow will also collaborate with leading academics, NGOs, auditing experts, technology partners and others in industry to incentivize the development and commercialization of low-carbon products and technologies that ultimately lower global GHG emissions and to ensure that companies are able to account for those GHG reductions., according to its Sustainability Report.

    Download the Dow 2025 Sustainability Goals report HERE. (Source: Dow Chemical, PR, 17 June, 2020) Contact: Dow Chemical, Mary Draves, VP Sustainability, Kyle Bandlow, 989-638-2417 , kbandlow@dow.com, www.corporate.dow.com/en-us.html

    More Low-Carbon Energy News Carbon Neutral,  Carbon Emissions,  Dow Chemical,  


  • Aussie Climate Change Road Map Introduced (Int'l. Report)
    Australia
    Date: 2020-05-22
    Australia's conservative government on Thursday released a fresh technology roadmap to tackle climate change, targeting the use of natural gas, hydrogen, batteries and carbon capture, while avoiding the contentious issue of setting a carbon price.

    The latest proposal, which the government aims to turn into formal policy by September, is based on driving down energy storage costs to back up wind and solar power, electrifying industrial processes and scaling up hydrogen production. . Green groups, mining, energy and other big corporations oppose the plan for its continued reliance on fossil fuels, like gas and coal, and are calling for the imposition of a carbon tax to drive green investment.

    The technology roadmap is designed to help Australia meet its Paris Climate Accord commitment to cut carbon emissions by between 26 pct and 28 pct from 2005 levels by 2030.

    Although Australia is one of the world's biggest carbon emitters per capita Angus Taylor, the Minister of Energy and Emissions recently said it is not Australian government policy to achieve net zero emissions by 2050. (Source: Australia Ministry of Energy and Emissions Reduction, Hindustan Times, Reuters, 21 May, 2020) Contact: Australia Ministry of Energy and Emissions Reduction, Hon. Angus Taylor, Minister, www.minister.industry.gov.au/ministers/taylor

    More Low-Carbon Energy News Australia Climate Change news,  Carbon Emissions news,  


    French Position Paper Calls for Carbon Floor Price (Int'l.)
    Carbon Price,Low Carbon Energy
    Date: 2020-05-01
    According to a recently circulated paper, French authorities consider present COVID-19 and related market conditions make a clear case for "mechanisms ensuring that these energies remain consistently above a certain floor price" from the perspective of both consumers and investors.

    Such a mechanism could take the form of "a carbon price floor" that could be implemented either through the EU's emissions trading scheme (EUETS)or the energy taxation directive, which is up for review as part of the European Green Deal. The paper notes that structurally low electricity prices hinder investments in new low-carbon power generation capacity needed to meet the EU's decarbonisation goals.

    Download the French position paper HERE. (Source: euractive, 27 April, 2020)

    More Low-Carbon Energy News EUETS,  Carbon Price,  Carbon Tax,  EU ETS,  


    IMF Calls for Harmonized COVID-19, Climate Change Fight (Int'l.)
    IMF
    Date: 2020-05-01
    Earlier this week, the International Monetary Fund (IMF) called for fiscal measures implemented by governments against the COVID-19 pandemic to be harmonized to combat climate change and ensure an environmentally sustainable recovery from the pandemic.

    The IMF noted that if this recovery is to be sustainable the fight against the climate crisis must be part ov the effort. To that end, "when governments provide financial lifelines to carbon-intensive companies, they should mandate commitments to reduce carbon emissions" should be part of the agreement. Additionally, financial firms should be required to better disclose climate risks in their lending and investment portfolios, the IMF notes/

    The IMF also noted better ways of pricing in climate risk should be found and a substantially higher carbon price is needed to encourage climate-smart investment and to accelerate the shift to cleaner fuels and more energy efficiency. IMF also notes the current global carbon price is only $2 per ton, way below the levels needed to keep global warming under 2 degrees Celsius, which the IMF estimated to be $75 per ton. (Source: IMF, The Nation, 30 April, 2020) Contact: IMF, Kristalina Georgieva, Dir., www.imf.org

    More Low-Carbon Energy News IMF,  Carbon Emissions,  Carbon Tax,  


    Notable Quotes -- Carbon Markets and Carbon Emissions
    EU ETS
    Date: 2020-04-08
    "This (COVID-19 pandemic) is a perfect storm for Europe's carbon market, and it may well lead to some challenging questions about its role in Europe's decarbonisation strategy once the COVID-19 crisis has passed." -- Coralie Laurencin, IHS Markit Dir. (Note: Europe's carbon price has dropped 40 pct since early March when they were still trading at roughly €24 ($26) per metric ton to €16-18 per metric ton. In 2019 the high was €29 per metric ton.)

    "All of society, from consumers, to businesses, to governments, recognised the need to accelerate global efforts to reduce greenhouse gas emissions," -- Ben van Beurden, CEO,Shell Oil, April, 2020

    More Low-Carbon Energy News Carbon Market,  EU ETS,  


    Canadian Fed-Prov. Carbon Tax Case Postponed (Ind Report)
    Carbon Tax
    Date: 2020-03-18
    Following-up on our Aug. 30, 2019 report, the Canadian Supreme Court in Ottawa has postponed hearing challenges to the Canadian federal government's carbon tax and several other cases, until June at the earliest. The postponement was blamed squarely on the shoulders of the rampaging spreading COVID-19 crisis.

    The top courts in Ontario and Saskatchewan rejected arguments by those provinces that the federal government lacks constitutional authority to impose a carbon tax in provinces that don't impose a carbon price that meets federal standards. The same provinces have appealed the provincial court rulings to the Supreme Court. ((Source: Various Media, Cdn Press, 17 Mar., 2020)

    More Low-Carbon Energy News Canada Carbon Tax,  


    ACENY Promotes Case for Carbon Pricing at the NYISO Ind Report)
    Alliance for Clean Energy New York
    Date: 2019-12-09
    Reporting from Albany, the Alliance for Clean Energy New York (ACENY) has released The Case for Carbon Pricing at the NYISO, a new paper laying out the arguments for New York to integrate the cost of carbon pollution into the State's wholesale electricity market. ACENY is hoping the State will align the markets with New York's ambitious renewable energy goals.

    The Case for Carbon Pricing at the NYISO, puts forth clear arguments in favor of Carbon Pricing:

  • Carbon Pricing will set an example for the Nation of how carbon policy can align with markets;
  • It will complement NY's new climate law and make it more likely that NY's ambitious goals will be met;
  • Lower the costs that would otherwise be paid by state agencies in achieving the Empire State's goals, lower the costs the State needs to invest in transmission, and lower the overall costs of achieving the climate law's mandates; and
  • Be able to be implemented quickly and cost-effectively, with little to no consumer impact, if it has NYS support.

    ACENY is a broad coalition dedicated to promoting clean energy, energy efficiency, a healthy environment, and a strong economy for the Empire State, and is New York's premier advocate for the rapid adoption of renewable energy and energy efficiency technologies. (Source: ACENY, Dec., 2019) Contact: ACENY, Anne Reynolds, Executive Director, 518.432.1405 x222 (o), 518.248.4556 (m), areynolds@aceny.org, www.aceny.org; NYISO, www.nyiso.com

    More Low-Carbon Energy News Alliance for Clean Energ,  NYISOy New York,  Carbon Price,  Carbon Tax,  


  • Why including buildings in the EU ETS is not the right tool to deliver energy-efficient homes
    EURIMA
    Date: 2019-11-29
    The European Commission is assessing whether to extend the EU Emissions Trading System (EU ETS) to cover the emissions associated with the heating and cooling of buildings. This paper points out several reasons why this would not be the best approach to deliver a highly energy-efficient and decarbonised building stock by 2050.

    Buildings are the EU’s biggest CO2 emitter. Our homes, offices and buildings are the EU’s biggest CO2emitters, as well as its single largest energy user. Decreasing and decarbonising the energy consumption to heat, cool and use buildings is crucial for the transition to a climate-neutral Europe by 2050 at the latest. Since most of the buildings that we will occupy in 2050 are already built, the main challenge is to renovate these 210 million existing buildings to make them less energy-hungry. At the current rate of renovation, it would take another century to achieve a decarbonised building stock, instead of the targeted30 years. Further inaction risks the EU missing its climate objectives by up to 400 million tonnes of CO21.Around 50 million people still live in energy poverty. Deep renovation of their homes would lower their energy bills and make their houses more comfortable and healthy. Well-insulated buildings moreover offer the flexibility to receive energy when it is available, thereby allowing the effective integration of renewables in the energy system during the entire year

    .Integrating buildings in the EU ETS is complex and time-consuming. Urgent action on buildings is vital to overcome the climate and social crises facing Europe today. Integrating the building sector in the EU ETS is complex and likely to take at least several years. That is time we do not have, and which diverts attention from more effective short-term measures. The EU should instead prioritize a Green Deal for housing to unlock vast investments for building renovations, while creating local jobs and more energy-efficient and affordable housing.

    What is the EU ETS? The EUETS sets a cap on the total amount of greenhouse gases that can be emitted by installations from the power, industry and aviation sectors. The cap is reduced over time so that emissions go down. Within the cap, companies receive or buy emission allowances which they can trade with each other, thereby creating a carbon price. The building sector is already covered by a cap on how much greenhouse gases can be emitted as part of the Effort Sharing Regulation; the EU’s other climate legislation targeting sectors not included in the EU ETS.

    Carbon pricing does not deliver more affordable, energy-efficient homes. According to the International Energy Agency2, most of the energy efficiency potential is available at a negative cost. This means that these efficiency measures already pay for themselves, even in the absence of a carbon price. The reasons why these measures, such as energy renovation, are not taken are usually not economic in nature, but rather the result of market-barriers and -imperfections. In the case of the building sector, these barriers include split incentives between those making investments (i.e. home-owners) and those paying energy bills (i.e. tenants), the inability to come up with high upfront costs and a lack of information on renovation opportunities and financing options. Including the building sector in the EU ETS would do nothing to overcome these barriers to make buildings more energy-efficient. Even worse, the introduction of a carbon price for the heating and cooling of buildings could lead to higher energy bills for tenants or homeowners who are not able to, or cannot afford to, renovate their homes.

    Governments should remain responsible for the built environment. Extending the EU ETS to buildings would mean that governments are no longer accountable for introducing measures to decarbonise the building stock under the Effort Sharing legislation. Under the Effort Sharing Regulation, each Member State has annual climate targets that it needs to meet. By integrating buildings in the EU ETS, the sector would be taken out of the Effort Sharing Regulation, putting the responsibility of climate action instead on heating fuel suppliers. The integration of the building sector in the EU ETS could lead to the dismantling or shying away from more effective EU and national energy efficiency legislation, under the pretext that this would undermine the functioning of the carbon market. This would be dangerous as the decarbonisation of the building stock requires dedicated policies beyond a carbon price. It is up to governments to put in place programmes to accelerate renovation, to introduce minimum energy performance standards for buildings and to prioritize measures to alleviate energy poverty. These actions will not happen through the EU ETS, but by policymakers taking ownership of the transition to a climate-neutral built environment.

    Green Deal for housing should be a key priority for Europe. Without urgent and accelerated action to renovate up to 97% of the European building stock by 2050, it will be impossible to meet the EU’s climate objectives. Fortunately, buildings’ operational emissions can be cut by 100%, mostly by using already commercially available solutions such as insulation. Including the building sector in the EU ETS distracts from taking effective measures to overcome the main barriers hampering the renovation of the EU building stock and the alleviation of energy poverty. The EU instead needs to put in place an enabling framework to ensure that the worst energy performing buildings are phased out over time, to guarantee quality homes for people and clear a pathway to climate-neutrality. The European Green Deal presents a perfect opportunity to deliver on comfortable, affordable and energy-efficient housing. This Green Deal can help unlock 130 billion euro per year to fill the investment gap for energy-efficient buildings3. Over 2 million jobs in Europe could be created throughsuch investments in energy efficiency –in particular in the deep renovation of buildings4. (Source:EURIMA - European Insulation Manufacturers Association, Nov., 2019) Contact: EURIMA, Femke de Jong, femke.dejong@eurima.org

    More Low-Carbon Energy News Energy Efficiency news,  Insulation news,  

    More Low-Carbon Energy News Energy Efficiency,  Insulation,  


    ISO Recommends Carbon Tax to Meet Renewables Goals (Ind Report)
    IOS New England
    Date: 2019-11-27
    IOS New England, the operator of the New England electricity grid is telling the region's political leaders that if they want to quickly add more renewable energy into the system, they should put a price-tax on carbon emissions or institute other market mechanisms.

    The ISO's comments were in response to a letter from a group of New England senators upbraiding ISO for failing to support the region's renewable energy goals, and preserving the fossil fuel status-quo.

    ISO countered that the integration of renewable resources has always been one of the organization's goals when existing fossil fuel generators are retired. Setting a system-wide price on carbon-emissions would be the most effective way to move that ahead, the ISO said. (Source: IOS New England, Maine Public Radio, 26 Nov., 2019) Contact: ISO New England, Gordon Van Welie, CEO, www.iso-ne.com

    More Low-Carbon Energy News IOS New England,  Carbon Price,  Carbon Tax,  Renewable Energy,  


    Carbon Tracker Recommends Complete Coal Phase-Out by 2030 (Int'l.)
    Carbon Tracker
    Date: 2019-10-28
    According to Apocoalypse Now, a new report from the European think-tank Carbon Tracker, 80 pct of Europe's often inefficient and polluting coal-fired power plants can't compete with renewable energy and are operating at a loss -- €6.6 billion ($7.3bn) this year alone even with substantial subsidies.

    The report finds the combination of strict air pollution regulations, falling renewable prices and rising carbon prices is making coal energy more and more unpalatable. In 2017, 46 pct of EU coal capacity was running at a loss. But now, the fraction has increased to 79 pct.

    Carbon Tracker -- which is funded by various European and US foundations -- argues that governments should loan money to fund the closure of coal-fired power plants, on the condition that utilities use those funds to build renewables and in turn repay the debt from future power sales. Based on its findings, the report recommends coal should be fully phased out by 2030. (Source: Carbon Tracker, Al Jazeera News, 23 Oct., 2019) Contact: Carbon Tracker, Matt Gray, Report Co-Author, Head of Power & Utilities at Carbon Tracker, www.carbontracker.org

    More Low-Carbon Energy News Carbon Tracker,  Coal,  Carbon Emissions,  


    Germany Plans Multi-Billion Euro Climate Deal (Int'l. Report)
    Carbon Tax, German Carbon Tax
    Date: 2019-09-23
    In Berlin, German chancellor Angela Merkel's coalition government has reportedly agreed on a carbon price -- tax to meet its targeted 55 pct cut in carbon emissions by 2030. The price -- tax -- for CO2 emissions in transport and buildings is expected to come into force in 2021 at an estimated cost of €54 billion ($60 billion) by 2023.

    The German system will be based on a trade in emissions certificates under the EU's emissions trading scheme (EU ETS). Germany is on course to miss its 2020 target of reducing 1990 greenhouse gas emissions by 40 pct, according to the Times of Aman report. (Source: Times of Oman, 22 Sept., 2019)

    More Low-Carbon Energy News EU ETS,  Carbon Tax,  Climate Change,  German Carbon Tax,  


    WPA Takes Canadian Clean Fuel Standard to Task (Ind Report)
    Wood Pellet Association of Canada
    Date: 2019-09-09
    Since 2017, the government of Canada has been developing the Clean Fuel Standard (CFS), a low carbon fuel standard-type policy, to reduce the life-cycle carbon intensity of fuels and energy used in Canada. The CFS aims to achieve 30 million tonnes CO2e (carbon dioxide equivalent) of annual reductions in greenhouse gas emissions (GHG) by 2030.

    The Wood Pellet Association of Canada (WPAC) has been providing input to Environment and Climate Change Canada (ECCC) as it works to design and shape the CFS. And, upon review of ECCC's proposed regulatory approach, WPAC is seriously concerned that the government will not allow end-use fuel switching in the buildings/stationary fuel use sector.

    WPAC believes it is unfair for ECCC to recognize fuel switching from gasoline to electricity or hydrogen in transportation, but not to recognize switching from heating oil to solid biofuels -- wood pellets or chips -- for Canada's second largest renewable energy product -- solid biomass heating. To that end, WPAC made the following representations to ECCC:

  • One of the three primary objectives of the CFS is low-cost compliance. By prohibiting recognition of fuel switching for stationary applications, ECCC will actually significantly increase the cost of CFS compliance, exclude the forest sector from participation in the short-term, and inhibit investment in the most proven commercial technology for displacement of heating oil -- wood pellet and chip boilers.

  • Canada consumes approximately three billion lpy of heating oil, the majority of which is consumed by Canadians in rural and Atlantic Canada. The latter accounts for 44 pct of heating oil consumption in the residential sector and 50 pct of heating oil consumption in the commercial/institutional sectors. Rural and Atlantic Canada also have among the lowest per capita income. ECCC's proposed regulatory approach will make CFS compliance for these low-income areas significantly more expensive than for those living in cities.

  • Under ECCC's proposed regulatory approach, the principal mechanism for ensuring compliance from heating oil primary suppliers will be to blend renewable diesel with heating oil. Since heating oil has low carbon intensity (CI) relative to other liquid fuels and much of the crude used to produce heating oil is sourced from outside of Canada, there is less opportunity for upstream reductions than with other liquid fuels. The 2030 target of 74 g CO2e/MJ is less than heating oil combustion emissions, meaning upstream efficiency improvements will be insufficient to meet the requirements. The only heating oil-miscible fuel that can also be stored outside in winter, as is often the case with heating oil, is renewable diesel.

  • Renewable diesel has a useful heat fuel cost of $65-82 per gigajoule (GJ) ($234-295 per MWh. In contrast, wood pellets, at $300-350 per tonne for residential sales, have a useful heat fuel cost of $20-24 per GJ. Wood pellets also have half the of default renewable diesel (29 g CO2e/MJ). Wood chips are half the carbon intensity of wood pellets which means, on an implied carbon price basis and assuming wholesale $0.75 per litre for heating oil, blending renewable diesel with heating oil has a fuel cost of $630/ per tonne CO2e to 884 per tonne CO2e. Switching from heating oil to wood pellets saves money on a fuel basis, in addition to avoiding taxes on heating oil. In this case, there is little reason to implement a complex policy such as the CFS.

  • Despite the billions of dollars invested in lignocellulosic liquid transportation biofuels, all technologies are still pre-commercial -- especially forest feedstock-based liquid transportation biofuels due to the recalcitrant structure of wood fibre. Co-processing of pyrolysis oil or biocrude in existing oil refineries at a meaningful volume will not occur before 2030. The forest sector represents over 75 pct of annually-available biomass resources in Canada and its exclusion from participation in the liquids class will dramatically increase the cost of fuel, especially in rural communities where wood chips and bioheat are a cost efficient and convenient source of energy. (Source: WPAC, Canadian Biomass, Environment and Climate Change Canada, 26 Aug., 2019) Contact: Wood Pellet Association of Canada, Gordon Murra, Exec. Dir., ; Environment and Climate Change Canada, www.canada.ca › environment-climate-change

    More Low-Carbon Energy News Environment and Climate Change Canada,  Wood Pellet Association of Canada,  Woody Biomass,  Wood Pellet ,  


  • Ontario Files Top Court Challenge to Fed. Carbon Tax (Ind Report)
    Ontario Carbon Tax
    Date: 2019-08-30
    Reporting from Queens Park, Ontario Premier Doug Ford's (C) government reports it has filed a challenge with the country's top court against the Canadian Federal government's carbon tax.

    The province, Canada's most populous, argues that Ontario's Court of Appeal was wrong to find the carbon price was "constitutional and within the federal government's right to impose." Federal lawyers had argued that the Greenhouse Gas Pollution Pricing Act -- under which the carbon tax is imposed -- was a legitimate response to potentially catastrophic climate change. (Source: Various Media, Canadian Press, 28 Aug., 2019) Contact: Office of Ontario Premier Doug Ford, www.ontario.ca/page/premier

    More Low-Carbon Energy News Ontario Carbon Tax,  Canada Carbon Tax,  Doug Ford,  


    New Credit Card Limits Climate Impact (Ind. Report)
    UNFCCC
    Date: 2019-06-03
    Swedish financial company Doconnomy is touting a new credit card that allows consumers to track and offset the emissions related their purchases.

    The card uses the Aland Index to quantify consumers' carbon footprint and compute offset costs using the World Bank's carbon price. Consumers can use the data supplied to either reduce their carbon footprint through behavior change, or to buy offset credits from UN-certified projects that reduce, avoid or remove GHG emissions.

    Users can also directly compensate for their GHG emissions, through projects meeting the criteria of UN-certified green projects. To identify the carbon dioxide (CO2) impact of each transaction, the Do card uses the Aland Index, developed in 2017 by Bank of Aland in Finland.

    Partnering with the Framework Convention on Climate Change (UNFCCC), the initiative encourages users to compensate their carbon footprints in UN-certified projects that reduce, avoid or remove GHG emissions. The projects are implemented in developing countries and are rewarded with Certified Emission Reductions (CERs) as well as Gold Standard. Ranging from cleaner-burning cook stoves to wind-generated electricity and clean waste disposal, all projects contribute to global emissions reductionsA savings product by the company offers an interest rate that includes investment in climate-friendly projects. (Source: UNFCCC Press Release, 30 April, 2019) Contact: UNFCCC, www.unfccc.int

    More Low-Carbon Energy News Carbon Emissions,  Climate Change,  UFCCC,  


    CDN Carbon Tax Funds Energy Efficiency Rebates (Ind. Report)
    Energy Efficiency
    Date: 2019-06-03
    In Ottawa, Canadian Environment Minister, Hon. Catherine McKenna is reporting the launch of launching a direct rebate program for small and medium-sized businesses to get back up to half the cost of buying more energy-efficient equipment and appliances.

    It's expected the rebates will be worth $44 million this year and the maximum rebate for any individual business will be $20,000.

    A separate program will allow businesses to apply to get rebates for energy efficiency retrofits. That program, which will be about $106 million this year, will be for projects that cost up to $1 million. The funds come from the revenues Canada is collecting from the $20-a-tonne carbon price imposed April 1, 2019. (Source:Canadian Environment Minister, Hon. Catherine McKenna, Canada Press, 30 May, 2019) Contact: Canada Ministry of the Environment, Hon. Catherine McKenna, Minister, www.canada.ca/en/environment-climate-change.html

    More Low-Carbon Energy News Catherine McKenna,  Energy Efficiency,  Energy Efficiency Rebates,  


    Cdn. Energy Efficiency Rebates Funded by Carbon Tax (Ind. Report)
    Energy Efficiency, Carbon Tax
    Date: 2019-05-31
    Following up on our 6 March coverage, Canadian Environment Minister, Hon. Catherine McKenna is reporting the launch of a direct rebate program for small and medium-sized businesses. The rebates would cover approximately 50 pct of the purchase price energy-efficient equipment and appliances.

    A separate program will allow businesses to apply for rebates for energy efficiency retrofits. That program, which will be about $106 million this year, will be for projects that cost up to $1 million. It's expected the rebates will be worth $44 million this year and the maximum rebate for any individual business will be $20,000.

    The funds come from the revenues Canada is collecting from the $20 per-tonne carbon price imposed April 1, 2019. (Source: Canadian Environment Minister, Hon. Catherine McKenna, Canada Press, 30 May, 2019) Contact: The Hon. Catherine McKenna, Canada Minister of Environment and Climate Change, www.facebook.com/McKenna.Ottawa

    More Low-Carbon Energy News Energy Efficiency Rebate,  Energy Efficiency,  Catherine McKenna,  


    Spark Change, BJSS Partner on Global Carbon Price (Ind Report)
    Carbon Emissions, Spark Change
    Date: 2019-05-08
    In London, Spark Change, a Seattle-London based FinTech company for the creation of green financial products, and UK-based business consultancy BJSS are reporting completion of the first phase of their partnership to deliver a unique combination of Commodity and Trading Risk Management (CTRM) and Distributed Ledger Technology (DLT) solutions to create the world's first global carbon price.

    Climate Change has been widely recognized as one of the greatest challenges for and threats to society. However, placing a cost on emitting CO2 has been limited to regional markets that are not interconnected, with the price paid by emitters being insufficient to incentivize investment in cleaner technologies.

    Spark Change has created a transformational financial instrument, Spark, that integrates regional carbon markets into a single product, simultaneously allowing investors to gain exposure to a global carbon price and forcing emitters to invest in cleaner technologies and accelerate the reduction in emissions.

    Spark Change's Cloud-based CTRM platform gathers live pricing information via regional integrations with exchanges across Europe, North America and soon China. Smart contracts are used to calculate a global carbon price using the weighted emissions per GDP of each of these regions, and the proceeds from every investment in Spark used to automatically execute the purchase of emission allowances from across the regional markets. The distributed ledger allows reconciliation of the number of Spark held by investors with the number of emissions allowances being held in reserve, creating a one-to-one asset backed financial instrument. (Source: Spark Change; PR, May, 2019) Contact: Spark Change, Joff Hamilton-Dick, CEO, www.sparkchange.io; BJSS, www.bjss.com

    More Low-Carbon Energy News Climate Change,  Carbon Emissions,  


    Energy Efficiency Rebates, Incentives Offered for Canadian Small Businesses (Ind. Report)
    Canadian Environment Minister, Hon. Catherine McKenna
    Date: 2019-03-06
    In Ottawa, Canadian Environment Minister Catherine McKenna is reporting the Liberal federal government of Prime Minster Justin Trudeau plans to ease the recently mandated carbon price burden on small business with incentives and rebate payments to cover some of the cost of making energy efficient upgrades.

    The Minister noted that the government expects to provide at least $1.46 billion over five years to small and medium-sized businesses, including $155 million in the fiscal year starting April 1. Hospitals, municipalities and other community organizations will share at least $727 million over five years, starting with $73 million in 2019-2020 fiscal years.(Source: City News, Various Media, Canadian Press, Mar., 2019) Contact: Office of Canadian Environment Minister, Hon. Catherine McKenna, www.canada.ca/en/government/ministers/catherine-mckenna.htm

    More Low-Carbon Energy News Energy Efficiency,  Energy Efficiency Rebate,  Canada Carbon Tax,  


    Canadian PM Imposing Carbon Tax Plan, Despite Four-Province Opposition (Reg. & Leg. Report)
    Canada Carbon Tax
    Date: 2018-10-31
    In Ottawa, the Canadian Liberal Government of Prime Minister Justin Trudeau has announced that it will impose a carbon price in Ontario, New Brunswick, Manitoba, and Saskatchewan in 2019. Alberta, British Columbia, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Prince Edward Island, Quebec, and the Yukon have either developed their own compliant pricing systems or chosen to adopt the federal option and thus avoided Trudeau's tax plan.

    The provinces of Ontario, New Brunswick, Manitoba, and Saskatchewan have however resisted the federal Government's proposals and challenged their constitutionality

    . The federal carbon price will apply at a rate of $20 ($15.28 US) per tonne of CO2 equivalent in 2019, rising by $10 per year to a high of $50 per tonne in 2022. The federal carbon pricing system will come into force on January 1, 2019. To ease to imagined pain, the Government has committed to return direct proceeds from the federal pricing system to the province or territory of origin and to help SMEs deal with the additional costs associated with carbon pricing in early 2019. (Source: Gov. of Canada, Various Media, Tax News, 29 Oct., 2018)

    More Low-Carbon Energy News Canada Carbon Tax,  Justin Trudeau,  


    Incinerators Spewed 11Mn tonnes of CO2 in 2017, says UKWIN (Int'l)
    UK Without Incineration Network
    Date: 2018-10-29
    Evaluation of the Climate Change Impacts of Waste Incineration in the United Kingdom, a new report by the UK Without Incineration Network (UKWIN) claims approximately 11,000,000 tonnes of CO2 was emitted from the burning of fossil-based materials such plastics in the UK's 42 waste incinerators in 2017.

    The report estimates the incineration's "unpaid cost to society" was approximately £325 million in non-traded carbon price.

    The report notes that the incineration of plastics could contribute as much as £25 billion of harm to the UK in terms of CO2 emissions. Each tonne of plastic incinerated reportedly releases around 1.43 tonnes of CO2. A typical waste incinerator built in 2020 would release 2.8 million tonnes of fossil CO2 over its 30-year lifetime, the report finds.

    With electric power generation taken into account, the report states that incinerators are responsible for releasing around 1.6 million tonnes more CO2 than sending the same waste to landfill. In terms of energy generation, the report finds that the carbon intensity of energy produced through waste incineration is more than 23 times greater than that for renewable energy. (Source: UKWIN, Resource, 26 Oct., 2018) Contact: UKWIN, Josh Dowen, +44 0 1623 640134, shlomo.dowen@gmail.com, www.ukwin.org.uk

    More Low-Carbon Energy News Carbon Emissions,  


    UK Carbon Tax Cut Could Boost Coal-Fired Power Emissions, says Report (Int'l. Report)
    Aurora Energy Research
    Date: 2018-10-24
    In the UK, Oxford-headquartered Aurora Energy Research reports a cut in the UK's Carbon Price Support tax could trigger a resurgence in coal-fired power generation and higher CO2 emissions into the 2020s. The Aurora findings are ahead of the UK Autumn Budget October 29 and energy industry speculation that the government might respond to rising CO2 prices in the EU Emissions Trading System by reducing the UK's top-up tax paid by domestic power generators.

    According to the Aurora report, the difference between maintaining and cutting the tax could equate to 12 TWh of production a year for four years after coal plants would otherwise have closed. If the government were to reduce the CPS to £7/tonne CO2 from the current £18/tonne CO2, coal plants would stay on the system until 2025, generating an average 12 TWh/year in the period 2021-25.

    The report notes that if the tax was maintained at £18/tonne CO2, this would result in coal coming off the system as early as 2021/2022. Cutting the CPS to £7/tonne CO2 would increase CO2 emissions by 29 million tonnes during the fourth carbon budget period (2023-2027) compared to maintaining the status quo.

    In 2017 the UK Treasury recouped £1 billion in tax receipts from the mechanism which was capped at £18/tonne CO2 from 2016 to 2020. The freeze was extended to 2021 in the 2016 budget. (Source: Aurora Energy Research, S&P, Global, Oct., 2018) Contact: Aurora Energy Research, +44 0 1865 952 700, contact@auroraer.com, www.auroraer.com


    BHP Billiton Calls for a Price on Carbon (Int'l)
    BHP
    Date: 2018-10-22
    In the Land Down Under, mining juggernaut BHP Billiton Head of Sustainability & Climate Change, Dr. Fiona Wild, says Australia lacks "long term and effective climate policy" and wants a price on carbon to be part of the mix.

    "We've always been really clear that we support a carbon price -- obviously there's different ways a carbon price can be designed but from our perspective a carbon price is a really important part of a long term and effective response to climate change. I think in the Australian context what we'd really like to see is a really well integrated climate and energy policy which looks at affordability, reliability and emissions reductions, and that's what we're aiming for. At the moment we don't have a long term and effective climate and energy policy," Dr Wild says.

    Dr. Wilds added, "We accept the IPCC's assessment of climate change science that warming of the climate is unequivocal, the human influence is clear and physical impacts are unavoidable. We believe that the world must pursue the twin objectives of limiting climate change in line with current international agreements while providing access to affordable energy."

    Dr Wild also noted that "under all current plausible scenarios, fossil fuels will continue to be a significant part of the energy mix for decades." (Source: BHP, AFR, Financial Review, 22 Oct., 2018) Contact: BHP Billiton, Dr. Fiona Wild, VP Sustainability and Climate Change, +61 3 9609 3333, www.bhpbilliton.com, www.bhp.com

    More Low-Carbon Energy News Fiona Wild,  BHP,  Carbon Tax,  CO2 Emissions,  Climate Change,  


    Neste, Air BP Seal Green Jet Fuel Cooperation Deal (Int'l)
    Neste,Air BP
    Date: 2018-10-12
    Biofuels specialist Neste and aviation fuel supplier Air BP report they are partnering to scale up the fledgling supply chain for sustainable jet fuels made from waste-based feedstocks and will work together to introduce a co-branded sustainable aviation fuel to market at airports through Air BP's global network.

    Neste's MY Renewable Jet Fuel has been used in thousands of commercial flights. Similarly, Air BP has supplied its BP Biojet product at 10 airports across the Nordic countries since 2014.

    The aviation industry is facing mounting pressure to curb emissions ahead of the introduction of the UN-backed CORSIA offsetting scheme, which is set to impose a carbon price on a growing number of airlines with a view to ensuring the sector delivers on its goals of securing 'carbon neutral growth' from 2020 and cutting net aviation emissions in half by 2050. (Source: Neste, BusinessGreen, Others, 11 Oct., 2018) Contact: Neste, Kaisa Hietala, Executive VP, Renewable Products, +358 10 458 4128, www.neste.com; BP Air, www.bp.com/en/global/bp-air.html

    More Low-Carbon Energy News Neste,  Air BP,  Aviation Biofuel,  Jet Biofuel,  


    OECD says Carbon Prices Too Low to Combat Climate Change (Int'l)
    Organization for Economic Co-operation and Development
    Date: 2018-09-19
    According to the London, UK-headquartered Organization for Economic Co-operation and Development (OECD), carbon prices in major advanced economies are too low to cut greenhouse gas emissions and counter the worst effects of climate change.

    The pricing gap had narrowed, from 79.5 pct in 2015, but "Carbon prices need to increase considerably more quickly than in recent years in order to ensure a cost-effective low-carbon transition," the OECD says according to Reuters coverage. (Source: OECD, Reuters, 13 Sept., 2018) Contact: Organization for Economic Co-operation and Development, www.oecd.org

    More Low-Carbon Energy News Organization for Economic Co-operation and Development ,  

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