Drax spends Ł223 million for carbon allowances purchase

Drax Group plc, the UK power generation company, has announced its preliminary results for the year ended 31 December 2008 and stated that fuel costs in respect of generation during the year were A858 million, compared to A471 million in 2007. The ... read more

Drax Group plc, the UK power generation company, has announced its preliminary results for the year ended 31 December 2008 and stated that fuel costs in respect of generation during the year were A858 million, compared to A471 million in 2007.

The increase was primarily due to higher generation, an increase in the price of coal and other fuels, and the impact of higher prices for and increased purchases of CO2 emissions allowances.

For Phase II of the EU ETS (2008-2012), Drax has an allocation of 9.5 million tonnes of CO2 emissions allowances per annum under the UK NAP, compared to 14.6 million tonnes per annum for Phase I (2005-2007). Their CO2 emissions allowances requirement for the year ended 31 December 2008, in excess of those allocated under the UK NAP, was approximately 12.8 million tonnes compared to approximately 7.6 million tonnes in 2007, as a result of the lower UK NAP allocation and higher generation, partially offset by plant efficiency improvements and increased biomass burn.

The price for Phase I CO2 emissions allowances began 2007 at approximately €6.6 per tonne, and as a result of oversupply, fell steadily over the first six months to €0.13 per tonne on 30 June 2007, subsequently falling away further to €0.04 per tonne by 31 December 2007. The price for Phase II CO2 emissions allowances began 2008 at approximately €22.4 per tonne, and in common with power and coal prices rose steadily over the first half of the year to €28.4 per tonne at 30 June 2008. However, carbon prices also fell significantly over the final quarter, down to €15.4 per tonne by 31 December 2008, as commodity prices fell back and industrial demand reduced in response to the economic climate.

As a result, the average price expensed for purchased CO2 emissions allowances during the year ended 31 December 2008 was A17.4 per tonne (equivalent to A223 million), compared to A1.5 per tonne in 2007 (equivalent to A11 million).

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Source: Carbonyatra - Tue, 03 Mar 2009
Category: business

Recycling a Greenhouse Gas for High-Energy Fuel

A team of researchers at Penn State has come up with an ingenious method of turning captured CO2 into methane using the energy of the sun. Fossil fuel use, ranging from electricity generating power plants to automobiles, pumps billions of tons of ... read more

A team of researchers at Penn State has come up with an ingenious method of turning captured CO2 into methane using the energy of the sun.

Fossil fuel use, ranging from electricity generating power plants to automobiles, pumps billions of tons of greenhouse gases into the atmosphere annually, changing the climate in ways that are likely to be detrimental to future generations.

The rising use of fossil fuels, driven by population growth and rising standards of living across the globe, adds to the urgency of finding a solution to the problem of rapidly increasing atmospheric carbon dioxide, the major greenhouse gas. At Penn State, a team of researchers led by Craig Grimes has come up with an ingenious method of turning captured CO2 into methane, a combustible fuel, using the energy of the sun.

Writing in Nano Letters (Volume 9, 2009, pp 731-737), Grimes and his team describe a highly efficient photocatalyst that can yield significant amounts of methane, other hydrocarbons, and hydrogen in a simple, inexpensive process. The team used arrays of nitrogen-doped titania nanotubes sputter-coated with an ultrathin layer of a platinum and/or copper co-catalyst(s). The titania captures high energy ultraviolet wavelengths, while the copper shifts the bandgap into the visible wavelengths to better utilize the part of the solar spectrum where most of the energy lies. In addition, the thin-walled nanotubes increase the transport ability of the charge carriers by reducing the chance for recombination of the electron with the hole.

The nanotube arrays were placed inside a stainless steel chamber filled with carbon dioxide infused with water vapor. The chamber was then set outdoors in sunlight; after a few hours the team measured the amount of CO2 converted into useful fuels. The results showed 160 µL of methane per hour per gram of nanotubes, a conversion rate approximately 20 times higher than previous efforts done under laboratory conditions using pure UV light.

“Copper oxide and titanium dioxide are common materials,” Grimes says. “We can tune the reaction using platinum nanoparticles or ideally other, less expensive catalysts.” Grimes believes that the conversion process can readily be improved by several orders of magnitude, which could make the process economically feasible.

“You could have a small scale solar condenser and a concentrated source of CO2 in a closed loop cycle to make a portable fuel. It’s a good way of storing energy for when the sun goes down,” he suggests. Inexpensive solar concentrators could improve the process, as the photocatalytic CO2 conversion appears to scale with the intensity of sunlight.

Capturing CO2 at source points, such as fossil fuel (coal, natural gas, etc.)-burning power plants, and turning it into a transportation fuel in a cheap, sunlight-driven process could dramatically improve the economics of CO2 capture. “Then maybe we could figure out how to capture and reuse the CO2 in our vehicles and none of it would go back into the atmosphere,” Grimes proposes.

Future research will look into increasing conversion rates by modifying the co-catalysts and changing the reactor design from a batch reactor to a flow-through photocatalytic design. “We are now reaching for low hanging fruit,” Grimes says. “There is plenty of opportunity for dramatic improvements.”

The article authors are Materials Research Institute scientists Oomman K. Varghese, Ph.D. and Maggie Paulose, Ph.D.; Thomas J. LaTempa, a graduate student in the Department of Electrical Engineering; and Craig A. Grimes, Ph.D., a professor of electrical engineering and materials science and engineering, as well as a faculty member in the Materials Research Institute at Penn State.

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Source: Penn State mri.psu.edu - Tue, 03 Mar 2009
Category: climateprotection

40MW biomass based thermal energy project by Aster Silicates seeks CDM registration

Aster Silicates Private Limited, a company involved in the manufacturing of food grade sodium silicate having applications in gel tooth paste, free flowing salt, glucose etc, has submitted a 40MW biomass based thermal energy generation project for ... read more

Aster Silicates Private Limited, a company involved in the manufacturing of food grade sodium silicate having applications in gel tooth paste, free flowing salt, glucose etc, has submitted a 40MW biomass based thermal energy generation project for CDM registration.

The process of manufacturing sodium silicate requires high temperature and the raw materials used for sodium silicate manufacture are soda ash and quartz silica.

Aster was earlier using conventional furnace for manufacturing sodium silicate at their Kheda unit. The existing Kheda unit has three triple pass regenerative furnaces and utilizes lignite as a fuel. The project proponents will now switch from lignite to biomass in the Kheda unit. They will buy biomass briquettes which will undergo controlled combustion in the gasification plant and producer gas/biogas generated will be utilized as a fuel in the furnace.

Aster will now go in for capacity addition which involves two new sites, in Jhagadia district Bharuch and Bhavnagar in Gujarat. Phases I consist of fuel switch from lignite to biomass in Kheda unit and new site Jhagadia which has two furnaces of capacity 100 MT each- will now utilize biomass as a fuel source. Phase I will starts from March 2009. Phase II consists of the Bhavnagar unit, having two furnaces of capacity 100 MT, each will be utilizing biomass. Bhavnagar unit will be functional from March 2010.

The total project cost is 19.5 million INR. The project hopes to generate 89907 CERs per year.

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Source: Carbonyatra - Mon, 02 Mar 2009
Category: business

EU Emissions Trading: News & Information of the calendar week 09/2009

CO2 allowances back trading at around EUR 10 — growing buying interest and slowly declining selling from Industry supports carbon — Spot CERs hold just under EUR 10 After the rapid price climb on Wednesday and Thursday last week, a ... read more

CO2 allowances back trading at around EUR 10 — growing buying interest and slowly declining selling from Industry supports carbon — Spot CERs hold just under EUR 10

After the rapid price climb on Wednesday and Thursday last week, a sudden leap in sales activity — one Financial Institution released a large quantity of EUAs onto the market — on Friday Feb 20�put the market under pressure and resulted in a price fall of about 8 per cent�and a close of day of EUR 9.75.

This week, generally low energy prices and lacklustre demand resulted in a weekly low of EUR 8.91 on Tuesday Feb 24.

Despite persistently weak oil, electricity and gas prices, significantly increased buying resulted in rising CO2�prices on Wednesday.

On Thursday the Energy sector rebounded with corresponding gains in the CO2�market resulting in an inta-week high of EUR 10.47 and a closing price of EUR 10.38 (EUA Spot / BlueNext).

Today, Friday Feb 27 the EUA Spot contract opened just above 10 Euros.

As seen in the last few weeks the CO2�market has moved counter to the energy fundamentals. Persistent sales pressure from industry appears only now to be slowly receding. In addition utilities are to be seen increasingly on the buying side which should give a positive stimulus on the market.

The allocation of 2008/09 permits to Polish companies is unlikely to take place in the next days because of unresolved NAP issues. Immediate sales, feared by some players, following a successful distribution of EUAs should only be expected in limited volumes.

We see the price level in the coming weeks remaining around EUR 9 to EUR 11 and only after the publication of the 2008 EU Emissions data in April this year, likely to move out of this range.

Prices EUA-Dec09 and fundamentals:

�	Friday	Monday	Tuesday	Wednesday	Thursday
EUA Open	10.75	10.25	9.24	9.76	10.25
EUA Close	9.97	9.64	9.36	9.74	10.60
Brent Crude ($)	41.80	40.75	42.37	44.17	46.11
Cal10 Base	45.00	44.00	42.96	42.65	44.40

EUA-Dec09:

Close last week	Intraweek-Low	Intraweek-High	Close Friday	Change
EUR 9.97	EUR 8.75	EUR 10.75	EUR 10.60	+�EUR 0.63

EUA-Spot:

Close last week	Intraweek-Low	Intraweek-High	Close Friday	Change
EUR 9.75	EUR 8.91	EUR 10.47	EUR 10.38	+�EUR 0.63

CER-Spot:

Close last week	Intraweek-Low	Intraweek-High	Close Friday	Change
EUR 9.30	EUR 8.75	EUR 9.95	EUR 9.91	+�EUR 0.61

Traded volume of the last�5 days:

OTC Brok. Market

ECX

NordPool

EEX

BlueNext

EXAA

Carbon Pool EU

46,2 Mt

Exch. 35.1 Mt

EFP 53.1 Mt

Exch. 386 kt

OTC 412 kt

CER 455 kt

Spot 106 kt

Dec09 1,3 Mt

EUA 64 Mt

CER 485 kt

10 kt

Spot 5.1 Mt

CER 25 kt

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Source: Climate Corporation - Sun, 01 Mar 2009
Category: emissiontrading

BVCA launches cleantech, renewable energy group

The British Private Equity and Venture Capital Association (BVCA) has announced the launch of its Energy, Environment and Technology Group, a body which will provide guidance and advice to government, investors and companies active in the renewable ... read more

The British Private Equity and Venture Capital Association (BVCA) has announced the launch of its Energy, Environment and Technology Group, a body which will provide guidance and advice to government, investors and companies active in the renewable energy and clean technology sectors.

The Group comprises leading practitioners recognised for their excellence, experience and insight into the renewable energy and clean technology space.
The group's experience covers the entire lifecycle of renewable energies and clean technologies, ranging from early stage seed capital and technology development, to later stage venture, private equity and infrastructure investments in renewable power generation.

Tom Murley, chairman of the Energy, Environment and Technology Group, said: "This Group will bring strategic direction and years of experience to the BVCA's efforts to educate investors and government on cleantech and renewable energy investment opportunities and fundamentals.

We will also seek to provide guidance and advice for companies and management teams to enable them to realise their growth potential. By securing the right regulatory and investment frameworks and removing barriers, investment into clean power will flow, creating tens of thousands of new jobs and laying the foundations of a new energy economy essential to combating climate change."

Simon Walker, chief executive of the BVCA, said: "Investment in renewable energy and clean technologies is a necessity now not a luxury for healthier economic times. Climate change is accelerating, and while the scale of the problem is considerable, so is the investment opportunity. Innovation-intensive businesses will also be central to our efforts in charting a path out of recession. Private equity and venture capital can help forge a new clean energy economy and assist economic recovery by providing the capital and expertise which will allow this nascent industry to flourish."

Group members:

Amadeus Capital Partners - Pat Burtis Blackstone
Cleantech Venture Partners - Jamie Kiggen
CT Investment Partners - Jonathan Bryers
ePlanet Ventures - Donald
Fitzmaurice ETF - Peter Horsburgh
Good Energies - Goergoe Coelho
HgCapital - Tom Murley, Chairman
Impax - Peter Rossbach
Riverstone Holdings - Ben Moxham
SEP - David Sneddon Virgin
Green Fund - Shai Weiss
Wheb - James McNaught Davis

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Source: Carbonyatra - Fri, 27 Feb 2009
Category: business

Obama: Send me legislation that places a market-based cap on carbon pollution

The following are excerpts from President Barack Obama's address to Joint Session of Congress: "We have known for decades that our survival depends on finding new sources of energy. Yet we import more oil today than ever before. Now is the time ... read more

The following are excerpts from President Barack Obama's address to Joint Session of Congress:
"We have known for decades that our survival depends on finding new sources of energy.

Yet we import more oil today than ever before. Now is the time to jumpstart job creation, re-start lending, and invest in areas like energy, health care, and education that will grow our economy, even as we make hard choices to bring our deficit down. That is what my economic agenda is designed to do," said President Obama.

"I am grateful that this Congress delivered, and pleased to say that the American Recovery and Reinvestment Act is now law. Over the next two years, this plan will save or create 3.5 million jobs. More than 90% of these jobs will be in the private sector- jobs rebuilding our roads and bridges; constructing wind turbines and solar panels; laying broadband and expanding mass transit," he added.

"That is why, even as it cuts back on the programs we don’t need, the budget I submit will invest in the three areas that are absolutely critical to our economic future: energy, health care, and education. It begins with energy. We know the country that harnesses the power of clean, renewable energy will lead the 21st century. And yet, it is China that has launched the largest effort in history to make their economy energy efficient.

We invented solar technology, but we’ve fallen behind countries like Germany and Japan in producing it. New plug-in hybrids roll off our assembly lines, but they will run on batteries made in Korea. Well I do not accept a future where the jobs and industries of tomorrow take root beyond our borders- and I know you don’t either. It is time for America to lead again," he said.

The US plans to double its supply of renewable energy in the next three years. "We have also made the largest investment in basic research funding in American history - an investment that will spur not only new discoveries in energy, but breakthroughs in medicine, science, and technology. We will soon lay down thousands of miles of power lines that can carry new energy to cities and towns across this country. And we will put Americans to work making our homes and buildings more efficient so that we can save billions of dollars on our energy bills," he added.
But, the President also added that to transform the US economy and the planet from the ravages of climate change, what was urgently needed was to make clean, renewable energy the profitable kind of energy. "So I ask this Congress to send me legislation that places a market-based cap on carbon pollution and drives the production of more renewable energy in America. And to support that innovation, we will invest fifteen billion dollars a year to develop technologies like wind power and solar power; advanced biofuels, clean coal, and more fuel-efficient cars and trucks built right here in America," he said.

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Source: Carbonyatra - Thu, 26 Feb 2009
Category: climatepolicy

Australian Industry Group wants carbon market to be delayed till 2012

The National Executive of the Australian Industry Group, the association’s national policy making body, has announced that the start of the proposed Carbon Pollution Reduction Scheme (CPRS), should be delayed to 2012. Addressing the Federal ... read more

The National Executive of the Australian Industry Group, the association’s national policy making body, has announced that the start of the proposed Carbon Pollution Reduction Scheme (CPRS), should be delayed to 2012.

Addressing the Federal Government’s proposed Carbon Pollution Reduction Scheme (CPRS), the Ai Group suggests the following:

• An emissions trading scheme is the preferred approach as the major policy to reduce greenhouse gas emissions;
• Legislation giving effect to the Scheme should be passed in 2009;
• Further improvements are needed to the detail of the CPRS, particularly in relation to measures for trade exposed businesses;
• Continued opposition to the Renewable Energy Target; and
• Strong support for the exploration and exploitation of the full range of low-cost abatement opportunities.

Following the National Executive meeting in Canberra, Ai Group Chief Executive Mrs Heather Ridout said, “Ai Group reaffirms its view that a market-based approach such as emissions trading should be adopted as the central policy to achieve Australia’s reduction of greenhouse gas emissions. However, the 2010 start date is neither necessary nor realistic.

Australia is already on track to meet its Kyoto commitments over the period to 2012. The sharp downturn in the economy and the associated reduction in emissions -for example from reduced metals production and slower growth in energy demand across the economy - will reduce our abatement task in the short-term.

Business supports the passage in 2009 of the relevant legislation. This would remove a major source of business uncertainty which is currently acting as an obstacle to long-term business planning. A delay in the start date would provide much-needed breathing space in what has always been an arduous timetable from an administrative point of view."

"The 2010 timetable has also now become unrealistic because of the impacts of the global financial crisis on business confidence, cash flows and the availability of credit. One of the impacts of the crisis is that it is undermining the capacity for businesses to invest in the new processes, plant, equipment and training necessary for them to reduce their emissions,” Mrs Ridout said.

The Ai Group supports the final design of the Carbon Pollution Reduction Scheme (CPRS) against the following principles:

• Reducing emissions at the lowest possible cost to the domestic economy;
• Providing investment certainty;
• Allowing a sensible start that gives business time to adjust;
• Protecting, in an effective way, Australia’s trade exposed businesses from the additional costs imposed relative to competitors abroad;
• Securing the supply of electricity; and,
• Keeping compliance costs to a minimum.
Ai Group believes there are further changes that can be made to the detail of the CPRS to reduce the potential impact on trade exposed businesses.
Areas that could be considered include:
• Broadening eligibility for emissions intensive trade exposed permits;
• Raising the quantity of permits allocated;
• Ensuring the Climate Change Action Fund has a particular focus on trade-exposed businesses; and
• Reducing the unilateral commitment as insurance against a break-down of international negotiations.

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Source: Carbonyatra - Thu, 26 Feb 2009
Category: climatepolicy

CCFE announces launch of Futures Contracts on California Climate Action Registry Chicago

Climate Futures Exchange (CCFE), a Commodity Futures Trading Commission (CFTC) Designated Contract Market, announces the successful launch of new futures contracts on California Climate Action Registry — Climate Reserve Tons (CCAR-CRT). Each ... read more

Climate Futures Exchange (CCFE), a Commodity Futures Trading Commission (CFTC) Designated Contract Market, announces the successful launch of new futures contracts on California Climate Action Registry — Climate Reserve Tons (CCAR-CRT).

Each CCAR-CRT contract calls for delivery of 1,000 Climate Reserve Tons (CRTs), which are project-based emission reductions issued by the Climate Action Reserve, the offset program of the California Climate Action Registry.

On Friday, February 20, 2009, CCFE traded 26 CCAR-CRT futures contracts, representing 26,000 Climate Reserve Tons. These trades mark the first exchange-traded transactions for delivery of emission offsets issued by the Climate Action Reserve. Prices ranged from $6.25 to $6.44 per CRT on CCFE in opening day trading. Digilog Global Environmental Master Fund and C-Quest Capital, LLC conducted the first CCAR-CRT futures block trade, which was brokered by ICAP United, LLC.

Shell Energy North America (US), L.P. and C-Quest Capital, LLC were parties to the first-ever electronic trade in the CCAR-CRT Futures contract. A diverse group of industrial and financial players were involved in the opening day of CCFE CCAR-CRT futures transactions. Other parties to opening day trades included RNK Capital and CE2 Capital Partners. “We’re excited to participate in the CCFE California Climate Action Registry futures not only because it is another first in the environmental products arena for Shell Energy, but also because it provides the markets an opportunity to develop effective and economically viable mechanisms to deal with climate change even amidst the current regulatory uncertainty.

Shell supports innovative solutions, such as the CCAR-CRT, that help deliver energy while creating CO2 solutions,” said Mark Quartermain, President, Shell Energy North America. “We salute the years of hard work of the government and stakeholders of California to advance the state’s response to climate change, as evidenced by the California Climate Action Registry. Voluntary programs to advance emission reductions, such as CCAR and CCX, are important steps toward implementing comprehensive greenhouse gas management systems.

Maximum long-run success of these systems requires price transparency and efficient, federally regulated exchange-based markets” said Dr. Richard Sandor, CCX Chairman and CEO. “The launch of CCFE futures on CCAR CRT reflects our belief that the CCFE platform is uniquely positioned to provide vital transparency, as well as a wealth of experience and linkages with other global emissions trading systems where we are active. CCFE continues to contribute to the liquidity and price transparency of all major and emerging carbon reducing initiatives around the world”.

“We are pleased to continue supporting CCFE in the launching of new products, and believe that the CCAR product will prove to be another successful product moving us closer to a national program,” says Erik Hansen of C-Quest LLC. "The ability to financially trade the CCAR market represents another step in carbon market development. Additional tools and information will foster offset development and early action. This illustrates the role financial markets will play in achieving sound environmental goals," said Harold Buchanan, Managing Partner of CE2 Capital Partners

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Source: CCFE - Thu, 26 Feb 2009
Category: business

Building confidence in the low carbon economy

Two measures were announced today to help provide clarity and confidence for consumers concerned about climate change: New Carbon offsetting quality mark Consultation on clear definition of "carbon neutral" To help consumers easily ... read more

Two measures were announced today to help provide clarity and confidence for consumers concerned about climate change:

• New Carbon offsetting quality mark
• Consultation on clear definition of "carbon neutral"

To help consumers easily identify carbon offsetting projects that offer genuine carbon savings, the Government has developed the Carbon Offsetting Quality Assurance Scheme.

Minister for Energy and Climate Change Joan Ruddock welcomed the development of the offsetting quality mark saying:

"Information for consumers needs to be crystal clear and people need to have confidence that their money is put to good use. This new quality mark - developed with the industry - aims to improve transparency and give confidence to people wanting to offset their travel."

"Everyone should look for opportunities to reduce their emissions. Where we can't avoid emissions, offsetting offers a means of taking responsibility for them".

Carbon offsetting is a way of compensating for unavoidable carbon emissions by making an equivalent carbon dioxide saving elsewhere.

Offsetting companies using the quality mark on their products will need to have registered with the Carbon Offsetting Quality Assurance Scheme, and will have demonstrated that their projects are compliant with Kyoto standards to offer genuine, additional, measurable carbon savings, thus bringing consistency and transparency to the market place.

Today Joan Ruddock also launched a consultation proposing improved stringency and greater consistency in the use of the term "carbon neutral". The Minister added:

"The UK will need to live within set carbon budgets as we reduce our emissions by 80% by 2050. This will be nothing short of a revolution in the way we live and we need to ensure that terms like 'carbon neutral' are not used carelessly but are clear measures of what we can and will achieve."

The consultation recognises that the phrase "carbon neutral" is in common use, but claims about being carbon neutral can be unfounded. This clarification process, will ensure businesses and consumers can be confident about the positive decisions they make to take meaningful action in the fight against climate change.

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Source: Department of Energy and Climate Change - Thu, 26 Feb 2009
Category: climatepolicy

Research Indicates: Governments Stay Committed to Climate Change Despite Economic Environment

Governments around the world have stepped up the pace of new climate change regulation over the last eight months, underscoring their commitment to fight global warming despite the global economic downturn, according to research published today by ... read more

Governments around the world have stepped up the pace of new climate change regulation over the last eight months, underscoring their commitment to fight global warming despite the global economic downturn, according to research published today by DB Climate Change Advisors, Deutsche Asset Management's institutional climate change investment business. The report comprehensively refutes the notion that tough economic conditions are forcing governments to withdraw from action on climate change.

The report tracks 250 new regulations that support renewable energy and climate change mitigation across the world as well as "green" initiatives amounting to more than $200 billion in global stimulus packages. These provide climate change investors with a set of attractive opportunities across key sectors and themes.

Most recently, the $787 billion American Recovery and Reinvestment act of 2009 has committed about $106 billion - or 13.5% of the total - for "green", climate change-related initiatives(1). Of this amount, $85 billion is allocated to direct spending measures (including $18 billion for mass transit) and $21 billion is for renewable energy tax breaks(2). This reflects the determination of the Obama Administration and the 111th US Congress to address climate change.

According to Mark Fulton, Global Head of Climate Change Investment Research at DB Climate Change Advisors, "Globally, policy remains a key driver for investment returns in both public and private markets." He added, "We believe this trend towards greater regulation and stimulus spending will provide crucial support to climate change industries during the current global economic downturn, helping to offset the impact of weaker debt markets over time."

Key investment themes:

Scale-up of solar and wind:
• In the US, the extension of tax credits, the conversion of these credits into cash refunds, discussions about implementing feed-in tariffs, the expansion of Renewable Portfolio Standards, and the proposed federal Renewable Energy Standard appear to be pushing America towards generating 20-25% of its electricity from renewable resources by 2025(3).
• In Europe, France has implemented some of the most generous feed-in tariffs in the world for solar power, with the aim of increasing penetration of this renewable 400-fold, and the UK has announced its intent to roll-out feed-in tariffs in the recently-passed Climate Change Bill.
• Stress in debt markets remains a constraint in scaling up projects. The US stimulus plan provides $6 billion of loan guarantees for renewable projects(4) and we remain of the opinion that developing responsive and well-managed loan guarantee programs can be of great benefit.

Bright future for advanced lighting:
• Government mandates to phase-out incandescent and poor-performing light bulbs in the US and EU, as well as the state-sponsored distribution of energy-saving light bulbs in China, make the advanced lighting sector particularly attractive in the mid- to long-term;

Energy efficient buildings:
• Nearly $54 billion of allocations in the EU and US stimulus packages will prompt significant growth in energy efficient buildings and the products and services going into them(5)

'Smart grid revolution':
• With about $12 billion of investments targeted to the smart electric grid in the EU and US as well as a $70 billion grid upgrade in China, there is the potential to unleash a 'smart grid revolution'(6)
.
Clean autos, driven by batteries:
• Governments around the world are keen to encourage the development of hybrid and electrical cars, heavily dependent on even more efficient electric batteries. $26 billion of support is being provided in the global stimulus packages for battery development, fleet purchase and retooling of manufacturing(7)

A copy of the report can be found at: http://dbadvisors.com/climatechange

1Committee on Appropriations, "Summary: American Recovery and Reinvestment - Conference Agreement," February 13, 2009. http://appropriations.house.gov/; DeAM Analysis, 2009.
2 Committee on Appropriations, "Summary: American Recovery and Reinvestment - Conference Agreement," February 13, 2009. http://appropriations.house.gov/; Senate Finance, House Ways & Means Committees, "The American Recovery and Reinvestment Act of 2009, Full Summary of Provisions," February 12, 2009; DeAM Analysis, 2009.
3 Environmental and Energy Study Institute, February 2009; DeAM Analysis, 2009.
4 Committee on Appropriations, "Summary: American Recovery and Reinvestment - Conference Agreement," February 13, 2009. http://appropriations.house.gov/.
5 DeAM Analysis, 2009.
6 DeAM Analysis, 2009.
7 DeAM Analysis, 2009.

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Source: Deutsche Bank - Tue, 24 Feb 2009
Category: climatepolicy

Deutsche Bank Report: ETS price weakness raises hard questions

Deutsche Bank presents the following carbon market report: ETS price weakness raises hard questions The recent collapse in EUA prices raises unpleasant memories and hypothetical questions. While the fall undoubtedly reflects the recent deterioration ... read more

Deutsche Bank presents the following carbon market report:

ETS price weakness raises hard questions
The recent collapse in EUA prices raises unpleasant memories and hypothetical questions. While the fall undoubtedly reflects the recent deterioration in the EU economy, the volatility generated by the fixed supply of EUAs out to 2020 and the distortion created by free allocations in Phase 2 have in our view exacerbated the scale and the speed of the decline. If EUA price weakness were to intensify and persist ahead of COP-15 in Copenhagen to the extent where the ETS’ credibility were called into question, it could ultimately require action from EU policymakers.

The recent collapse in EUAs shows the market’s flexibility …
We expect ETS emissions to decline markedly in 2008 and 2009, reflecting the very sharp deterioration in the EU’s industrial output since Q3 2008 (we forecast 2009 ETS emissions 10% below the 2007 equivalent). In part, therefore, the sell-off in EUAs over the last seven months - a near 70% fall from €31/t last July to €9.7/t today- is simply a reflection of the short-term supply-and-demand picture, and shows the ETS’ flexibility and responsiveness. The large increase in volumes traded recently is also positive evidence of a maturing and more liquid market.

… but it also reflects problematic features of the ETS
With the supply of EUAs fixed out to 2020, and the vast majority of this fixed supply in Phase 2 allocated free of charge, the ETS as currently constituted is subject to the risk of periodic price spikes and price crashes. This is because the demand for EUAs is a function of highly unpredictable variables and can therefore vary substantially in the short run. In all other commodity markets supply can adapt to changing demand, but the ETS cap has now been fixed to 2020. Moreover, about 95% of Phase-2 EUAs will be allocated for free. This means that even if the ETS will ultimately be short EUAs out to 2020 (and we estimate it will be), the future shortage will take a long time to be reflected in today’s price, especially as borrowing from future years’ allocations is possible within Phase 2 and on our estimates Phase 2 in isolation is long EUAs in any case. Consequently, if the market comes to fear a worse recession than we are currently assuming, it could start to worry that the fixed supply of EUAs - together with the allowed CERs/ERUs - might actually come close to covering the emissions gap created by the falling ETS cap even over Phase 3. Further negative macro newsflow over H1 could therefore lead to severe and sustained EUA weakness throughout 2009.

The ETS Review: unfinished business
The ETS Review made a number of improvements to the ETS that will take effect from 2013. However, fixing the supply of EUAs to 2020, combined with the legacy of such a high level of free allocations in Phase 2, has created a situation where the recent sell-off in EUAs could intensify and persist should the macro-economic outlook deteriorate further. In turn, this could undermine the credibility of the ETS ahead of the crucial COP-15 meeting in Copenhagen in December. We think that should intervention prove necessary to preserve the credibility of the ETS, then the two options available to the EU authorities would be (i) to modify the linear-reduction factor of 1.74% currently foreseen for the period beyond 2020, and/or (ii) to set a reserve-price mechanism for the EUAs to be auctioned over 2013-20. In our view, the Commission should propose a change to the Directive to allow for the periodic and ad-hoc review of the post-2020 linear-reduction factor as a matter of principle, as this would give the authorities a very powerful policy lever and thereby remedy the volatility intrinsic to the ETS as currently constituted. We also think that if the EU authorities were to face severe and sustained EUA price weakness ahead of Copenhagen they should ultimately be prepared to set a reserve price on the EUAs to be auctioned from 2013.

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Source: Carbonyatra - Tue, 24 Feb 2009
Category: emissiontrading

CO2: EU-Parliament launches action plan to reduce its carbon footprint

Practical steps to help Parliament meet its goal of reducing its CO2 emissions by 30 per cent by 2020 were adopted in an action plan by the Bureau this week. The plan sets out a wide range of steps which could be taken to reduce the carbon footprint ... read more

Practical steps to help Parliament meet its goal of reducing its CO2 emissions by 30 per cent by 2020 were adopted in an action plan by the Bureau this week.

The plan sets out a wide range of steps which could be taken to reduce the carbon footprint of the European Parliament. Some are effectively already underway, others can be put into effect quite quickly while others require further study before deciding where and how they could be applied.

Among the measures that will now go ahead are:

-�individual studies on how to improve the energy performance of each of Parliament’s buildings, such as by making use of photovoltaic, solar thermal or geothermal energy, installing systems that reduce the use of electric lighting and air-conditioning or — for future constructions — using “passive buildings”;
-�making better use of IT systems, whether by finding ways to reduce the quantity of equipment needed for each staff member or by improving and promoting videoconferencing facilities;
-�integrating the issue of reducing carbon emissions into all decisions on transport, for example by promoting train, bicycle and foot travel as opposed to car or plane travel, by promoting low-emission car-use and by improved planning of events to minimise travel and transport needs;
-�creating a long term plan to improve awareness and communication in aiming to change the mindset and the behaviour of staff with regard to carbon efficiency;
- a variety of other steps which could cumulatively make a difference: such as encouraging suppliers to reduce their carbon emissions and introducing various water saving measures.

In addition — as this will not count towards the 2020 target for reducing emissions from 2006 levels — a scheme will be developed to allow MEPs and staff voluntarily to off-set the carbon emissions of their air travel, at least until aviation is incorporated into the EU’s Emissions Trading Scheme in 2012.

REF. : 20090220IPR50134

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Source: European Parliament - Mon, 23 Feb 2009
Category: climatepolicy

Landbank of the Philippines and KfW of Germany sign P 1.2 B loan for energy projects

The Land Bank of the Philippines recently signed a loan agreement with the Kreditanstalt fur Wiederaufbau (KfW) of Germany for the Japanese Yen equivalent of EUR 20.0 million (P 1.2 billion) for re-lending to eligible sub-borrowers under the Credit ... read more

The Land Bank of the Philippines recently signed a loan agreement with the Kreditanstalt fur Wiederaufbau (KfW) of Germany for the Japanese Yen equivalent of EUR 20.0 million (P 1.2 billion) for re-lending to eligible sub-borrowers under the Credit Line for Energy Efficiency and Climate Protection (CLEECP) project.

The CLEECP project may finance any of the following projects: reduction of primary energy (e.g. diesel, coal, gas) consumption and direct greenhouse gas emissions (replacement, retrofitting, or energy efficient modernization of CFC, HFC and HCFC chillers); installation or energy efficient modernization of biomass cogeneration facilities; and replacement or energy efficient modernization of machinery and equipment powered by primary energy resources. Borrowers can access long-term loans of up to 10 years at a concessional fixed interest rate for a period of up to 10 years.

The loan facility is available nationwide with at least 50 percent of the overall loan amount targetted for projects in the Visayas and Mindanao.

"We are pleased to partner with KfW on this project that will help address the effects of climate change. This is in line with LANDBANK's priority program for energy efficiency and environmental protection," LANDBANK president and CEO Gilda E. Pico said.

Eligible sub-borrowers under the program are private sector companies and entities which include sole proprietorship, partnership, corporations which are at least 70% Filipino-owned, cooperatives and associations. Local Government Units, and Government-Owned and Controlled Corporations are also qualified to avail of the CLEECP facility.

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Source: Land Bank of the Philippines - Mon, 23 Feb 2009
Category: business

JI mechanism passes milestone with accreditation of first project verifier

The Kyoto Protocol’s joint implementation (JI) mechanism has accredited its first third party verifier, T�V S�D Industrie Service GmbH, whose job is to determine the acceptability of emission reduction projects and verify emission reductions ... read more

The Kyoto Protocol’s joint implementation (JI) mechanism has accredited its first third party verifier, T�V S�D Industrie Service GmbH, whose job is to determine the acceptability of emission reduction projects and verify emission reductions achieved.

Under JI, greenhouse gas emission reduction projects in countries with an emission reduction or limitation commitment under the Kyoto Protocol can generate saleable emission reduction units (ERUs), each equivalent to one tonne of carbon dioxide. Countries can purchase and surrender ERUs to meet a part of their commitment under the Protocol.

To date, 170 projects in 12 countries have been submitted for public comment, the first step in the vetting process before projects undergo “determination” by an accredited entity under so-called JI Track 2. These 170 projects are expected to achieve around 300 million tonnes of emission reductions by the end of the first commitment period of the Kyoto Protocol in 2012.

The mechanism is supervised by the Joint Implementation Supervisory Committee (JISC), which just concluded its 14th meeting. Members of the JISC are nominated by their home region or constituency and serve in their private capacity. The work of the committee is supported by the UNFCCC secretariat.

Six projects have already been accepted by the JISC, and one project, in Ukraine, has already had its emission reductions verified. The vetting of those projects was done by independent verifiers acting provisionally as “accredited independent entities”. Official accreditation of T�V S�D Industrie Service, which verified the emission reductions of the Ukraine project, means that the ERUs can now be issued and traded. The project makes use of coal mine methane to produce electricity, instead of venting the gas into the atmosphere, it is expected to generate 1,177,905 ERUs annually.

At the meeting, the JISC's first of 2009, the committee elected Derrick Oderson as Chair and Vlad Trusca as Vice-Chair.

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Source: UNFCCC - Mon, 23 Feb 2009
Category: climatepolicy

Volume of carbon allowances for the second UK auction and timetable for future auctions

The UK government intends to auction Four million allowances in its second auction as part of the EU ETS on Tuesday 24 March 2009. In 2009 the UK plans to auction a total of 25 million allowances. The auction on 24 March will comprise a competitive ... read more

The UK government intends to auction Four million allowances in its second auction as part of the EU ETS on Tuesday 24 March 2009. In 2009 the UK plans to auction a total of 25 million allowances.

The auction on 24 March will comprise a competitive bidding facility only and the bidding window will be open between 8:00 and 10:00 GMT. The UK Government intends to charge VAT on all EU allowances auctioned in the UK.

The UK Government has also published a schedule of auction dates and volumes for subsequent auctions up to April 2010. The full schedule is available on the UK Debt Management Office's website at: http://www.dmo.gov.uk/index.aspx?page=ETS/AuctionInfo

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Source: Department of Energy and Climate Change - Mon, 23 Feb 2009
Category: emissiontrading

Barclays Capital Executes Forward Trade Agreement for US Carbon Markets

New York, NY — Barclays Capital, the investment banking division of Barclays Bank PLC,� executed its first trades on a forward trade agreement which includes provisions for US emissions allowances associated with the Regional Greenhouse Gas ... read more

New York, NY — Barclays Capital, the investment banking division of Barclays Bank PLC,� executed its first trades on a forward trade agreement which includes provisions for US emissions allowances associated with the Regional Greenhouse Gas Initiative (RGGI), the first mandatory carbon cap-and-trade program in the United States.

To facilitate further development of the US carbon market and to promote the standardization of contract terms used for carbon cap-and-trade transactions, Barclays Capital is making the forward trade agreement available to the entire marketplace.

The U.S. Emissions Allowance Transaction Annex, as published by the International Swaps and Derivatives Association, Inc. (ISDA), has previously been used to document forward transactions of SO2 and NOx emissions allowances. Barclays Capital, in consultation with Calpine Energy Services, L.P. and with Royal Bank of Canada, modified this existing documentation to include provisions which mitigate price and delivery risks associated with RGGI allowances. These risks, and a lack of standardized documentation, have thus far constrained the development of a robust secondary over-the-counter (OTC) market for RGGI allowances.

Unlike the emissions cap-and-trade programs which have been operating in the US since the mid-1990s under the administration of the federal Environmental Protection Agency (EPA), RGGI is an independent program established by 10 Northeastern states. The RGGI program therefore has different rules and delivery mechanisms which required modification of the previous US emissions documentation.

“We are pleased to execute the first carbon emission allowance trades in the US employing this new contract,” said Louis Redshaw, Head of Environmental Markets at Barclays Capital. “As a pioneer in developing standardized agreements for environmental markets in the European Union, and in the absence of documentation from relevant trade associations, we believe we have the experience required to construct a contract that will support all participants in the RGGI trading scheme.”

James Macintosh, US Emissions Trading for Barclays Capital, added, “Standardized documentation is a crucial step in the development of liquidity of not only RGGI but of any eventual federal carbon cap-and-trade program. The RGGI program is already off to a promising start, with trading volume increasing as the first emissions compliance period progresses. We believe this contract will provide further liquidity and transparency as a complement to the existing exchange-cleared market.”

Barclays Capital will make the agreement available to the marketplace through OTC brokers and direct distribution.

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Source: Barclays Capital - Thu, 19 Feb 2009
Category: business

Australia releases guidance paper on carbon market

The Department of Climate Change in Australia has released a guidance paper for the assessment of activities for the purposes of the emissions-intensive trade-exposed (EITE) assistance program under the Rudd Government's Carbon Pollution Reduction ... read more

The Department of Climate Change in Australia has released a guidance paper for the assessment of activities for the purposes of the emissions-intensive trade-exposed (EITE) assistance program under the Rudd Government's Carbon Pollution Reduction Scheme.

"The Carbon Pollution Reduction Scheme will start reducing Australia's emissions from next year while at the same time supporting business and industry through our comprehensive assistance measures," Minister for Climate Change and Water, Senator Penny Wong, said.

"We are very mindful of the potential impact the Scheme may have on industry, which is why we have already set aside over $9 billion to assist a range of businesses and industries under the Scheme out to 2012. Through the Carbon Pollution Reduction Scheme, the Government is supporting the jobs of today while building the low pollution economy of the future."

The guidance paper outlines the assessment process and provides guidance to industry on the requirements for this assessment. This is the next step in implementing the decisions made in the Government's White Paper. The government is intent on having an ETS in place by mid-2010

The assessment process will inform the Government's decision on which activities in the economy are eligible to receive EITE assistance, the rates of assistance that will apply to eligible activities and the basis for allocations to these eligible activities.

The Government will make final decisions taking into consideration the policy framework outlined in the White Paper and the information provided in this assessment process. The Government's final decisions will be reflected in the Scheme regulations.

"The assessment timeframe outlined in the paper will ensure that certainty is provided to as many eligible EITE activities as possible by mid-year in draft regulations," Senator Wong said.

"This will give businesses the certainty they need to invest for the long-term, supporting jobs in key industries as we move to a low pollution economy. "I would encourage all relevant stakeholders to engage fully with this process."

For further informations please click here

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Source: Australian Government / Department of Climate Change - Thu, 19 Feb 2009
Category: climatepolicy

Arizona utility announces upcoming request for energy from small renewable projects

APS, Arizona's longest-serving electricity utility, will be announcing a Request for Proposal (RFP) for energy generated from small renewable projects, in March. The upcoming RFP was created to attract small renewable developers who, in the past, ... read more

APS, Arizona's longest-serving electricity utility, will be announcing a Request for Proposal (RFP) for energy generated from small renewable projects, in March.

The upcoming RFP was created to attract small renewable developers who, in the past, have had difficulty competing in a traditional RFP process. The new RFP helps these developers by streamlining proposal and contract procedures.

APS hopes to add 45,000 megawatt-hours of generation per year as a result of this solicitation. The power is expected to come from projects that provide at least 1,500 megawatt hours per year. The actual megawatt hours procured will depend on several factors, including the cost to customers.

Developers are encouraged, as part of their project proposals, to include a partnership with municipal, governmental or educational institutions such as school systems or universities. By encouraging partnerships, APS hopes to create some of the same benefits large renewable energy projects bring to the communities they serve, including educational outreach, economic development and the opportunity to foster civic engagement in energy issues. The purpose of this release is to let interested parties know of the upcoming solicitation so that they can begin preliminary work on their proposals including finding partners.

The small generation RFP was included in APS' 2009 Renewable Energy Standard Implementation Plan that was approved by the Arizona Corporation Commission.

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Source: Carbonyatra - Wed, 18 Feb 2009
Category: climatepolicy

EU Emissions Trading: News & Information of the calendar week 07/2009

Carbon Market: Spot EUAs hit record low of EUR 7.88 — Persistent industrial selling shaves another 2 Euros off carbon — Spot CERs follow EUAs below 8 Euro — Primary CER more expensive than Spot CER? The EU Allowance market ... read more

Carbon Market: Spot EUAs hit record low of EUR 7.88 — Persistent industrial selling shaves another 2 Euros off carbon — Spot CERs follow EUAs below 8 Euro — Primary CER more expensive than Spot CER?

The EU Allowance market experienced another substantial drop in price with the EUA spot contract giving up some 2 Euro over the last five days of trading. Spot volumes have further increased with carbon exchange BlueNext taking the biggest chunk of the cake (66M tCO2e ) and Carbon Pool Europe seen as the second biggest spot trading platform with close to 5M tCO2e transacted over the week.

The EU Allowance market experienced another substantial drop in price with the EUA spot contract giving up some 2 Euro over the last five days of trading. Spot volumes have further increased with carbon exchange BlueNext taking the biggest chunk of the cake (66M tCO2e ) and Carbon Pool Europe seen as the second biggest spot trading platform with close to 5M tCO2e transacted over the week.

The EUA Spot contract eventually closed at EUR 7.96 on Thursday Feb 12.

Today carbon opened slightly above the 8 Euro level, but a flood of buying reversed the recent bearish trend and lifted carbon by some 80c with the spot contract trading at EUR 8.80 at the time of writing (Friday Feb 13, 11:30 CET).

With some European countries starting to allocate 2009 EU Allowances as soon as next week Monday and Poland striving to issue 2008 and 2009 volumes to its installations “as soon as possible” carbon might come under some more pressure soon.

The rapid price deterioration in European Union Allowances also forced exchange traded project based carbon certificates (spot and future CERs) below the 8 Euro level resulting in a somewhat unusual situation as at this point risk free, guaranteed CERs trade at a discount to primary CERs which in most cases can not be acquired below the 8 to 9 Euro level.

This situation can be explained firstly by liquidity on CER spot and futures markets still being extremely limited and basically not really being able to provide a sound basis for the calculation of a CER price index and secondly by the biggest supplier of primary CERs (China) still not reacting to the current market situation with holding on to its floor price of 8 to 9 Euros (depending on project type) which is basically freezing the Chinese market for project based emissions certificates.

It remains to be seen if a potential reduction of the Chinese floor price (to 6 Euros?) will bring back life into the Chinese CDM market or if it rather initiates another sell off in European carbon markets which again would render it uneconomical for European players to invest into primary CERs.

Prices EUA-Dec09 and fundamentals:

�	Friday	Monday	Tuesday	Wednesday	Thursday
EUA Open	10.30	9.90	9.80	9.25	8.26
EUA Close	10.07	9.80	9.33	8.49	8.20
Brent Crude ($)	46.32	46.41	46.09	45.58	46.02
Cal10 Base	49.84	51.30	51.00	49.50	48.10

EUA-Dec09:

Close last week	Intraweek-Low	Intraweek-High	Close Friday	Change
EUR 10.07	EUR 8.05	EUR 10.30	EUR 8.20	-�EUR 1.87

EUA-Spot:

Close last week	Intraweek-Low	Intraweek-High	Close Friday	Change
EUR 9.88	EUR 7.88	EUR 10.05	EUR 7.96	-�EUR 1.92

CER-Spot:

Close last week	Intraweek-Low	Intraweek-High	Close Friday	Change
EUR 9.60	EUR 7.70	EUR 9.85	EUR 7.75	-�EUR 1.85

Traded volume of the last�5 days:

OTC Brokered Market

ECX

NordPool

EEX

BlueNext

EXAA

Carbon Pool EU

36.1 Mt

Exch. 23.8 Mt

EFP 42.4 Mt

Exch. 383 kt

OTC 490 kt

CER 45 kt

Spot 79 kt

Dec09 782 kt

EUA 66.1 Mt

CER 709 kt

0 t

Spot 4.8 Mt

CER 28 kt

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Source: Climate Corporation - Wed, 18 Feb 2009
Category: emissiontrading

Stricter rules to keep illegal timber off the EU market

Stricter rules on timber sold in the EU are needed to combat illegal logging - the main cause of deforestation, said the Environment Committee on Tuesday. And illegal timber suppliers must pay penalties that reflect the degree of environmental and ... read more

Stricter rules on timber sold in the EU are needed to combat illegal logging - the main cause of deforestation, said the Environment Committee on Tuesday. And illegal timber suppliers must pay penalties that reflect the degree of environmental and economic damage, it added.
EU rules need to be more effective, as 20 to 40% of global industrial wood production is from illegal sources, said rapporteur Caroline Lucas (Greens, UK), whose co-decision report was adopted with 54 votes in favour, one against and one abstention. The Environment Committee called on the Commission to table tough legislation to ensure that illegally harvested timber and timber products are removed from the EU market.

Shared responsibility, tougher penalties
All operators in the supply chain should "share the responsibility for eliminating the risk of introducing illegally harvested timber and timber products" to the EU market, says the Committee. Obligations must therefore apply to operators throughout the timber supply chain, not just those placing timber on the market for the first time, as proposed by the Commission, says the committee.

Financial penalties, to be set by EU Member States, must reflect the degree of environmental and economic damage caused by the illegal activity, add MEPs. These penalties must represent "at least five times the value of the timber products obtained by committing a serious infringement" and they will increase in the event of repeat infringements.

Due diligence - better information, traceability and monitoring
The "due diligence system", approved by MEPs, requires operators to reduce the risk of placing illegally harvested timber and timber products on the EU market to a minimum, using a system of detailed measures and procedures. This system only applies to operators placing the timber in the market for the first time, since they are considered to have the biggest influence and responsibility.

But to improve timber traceability, MEPs ask that all operators provide basic information about the source of the products, their country and forest of origin. They will also have to identify the operator who has supplied the timber and to whom it has been supplied, through a traceability system.

Monitoring must also be improved, say MEPs, who call on the competent authorities to carry out checks on the supply chain and to apply "immediate corrective measures", such as "seizure of illegal logging" and enforcing the "cessation of commercial activity".

Timber from high-risk areas demands extra due diligence
MEPs ask the Commission to establish certain categories, such as "high-risk" timber or suppliers which will require extra due diligence from the operators. Timber could be classified as high risk if, for example, it were from "countries where there is consistent and reliable information regarding significant failures of forest law governance" or a "high level of corruption". In such cases, operators will be subject to extra due diligence obligations.

No exceptions for biomass timber
The rules should cover all products that could contain illegally-sourced timber, "without exception", said MEPs, who deleted a proposed exemption for timber used for biomass.

REF. : 20090216IPR49519
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Source: European Parliament - Tue, 17 Feb 2009
Category: climatepolicy

US financing agencies to assess carbon emissions in funding international projects

A 7-year old federal lawsuit involving the city of Arcata that sought to force two U.S. agencies to address the global warming implications of their overseas financing activities was settled last week. In the end, it established important legal ... read more

A 7-year old federal lawsuit involving the city of Arcata that sought to force two U.S. agencies to address the global warming implications of their overseas financing activities was settled last week.

In the end, it established important legal precedents related to global warming. The suit has established important legal precedents related to global warming.

The plaintiffs alleged that Export-Import Bank of the United States and the Overseas Private Investment Corporation illegally provided more than $32 billion in financing and insurance to fossil fuel projects over 10 years without assessing whether the projects contributed to global warming or impacted the U.S. environment, as they were required to do under the National Environmental Policy Act (NEPA). Fossil fuel projects financed by the two agencies from 1990 to 2003 produced cumulative emissions that were equivalent to nearly eight percent of the world’s annual carbon dioxide emissions, or nearly one third of annual U.S. emissions in 2003.

Under the settlement agreed to last week, the Export-Import Bank of the United States will begin taking carbon dioxide emissions into account in evaluating fossil fuel projects, and will create an organization-wide carbon policy. The Overseas Private Investment Corporation will establish a goal of reducing greenhouse gas emissions associated with projects by 20 percent over the next 10 years. Both agencies will commit to increasing financing for renewable energy.

Friends of the Earth, Greenpeace and the city of Boulder, Colo., filed the suit in August 2002 and were later joined by the California cities of Arcata, Santa Monica and Oakland. “This settlement is a substantial victory for our climate. It will force federal agencies to move away from fossil fuel projects and account for the climate impacts of their lending.

As President Obama said in his inaugural address, 'We can no longer consume the world’s resources without regard to effect.' The settlement is a first step toward making Obama's vision a reality for these institutions," said Michelle Chan, Senior Policy Analyst, Friends of the Earth.

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Source: Carbonyatra - Tue, 17 Feb 2009
Category: climatepolicy

CDM board reinstates DNVs accreditation

The Clean Development Mechanism (CDM) Executive Board has reinstated DNV’s accreditation for the validation and verification of CDM projects. The UN CDM Board has decided to terminate the suspension of the DOE with immediate effect. "We ... read more

The Clean Development Mechanism (CDM) Executive Board has reinstated DNV’s accreditation for the validation and verification of CDM projects. The UN CDM Board has decided to terminate the suspension of the DOE with immediate effect.

"We have been in close contact with our customers all the way and are grateful that our customers have shown patience with us during this time," says Henrik O. Madsen, DNV CEO.DNV was one of the first organisations to be accredited according to the CDM, and has so far validated close to 50% of the registered projects worldwide. Following the findings of the spot check in early November, the CDM Executive Board decided to temporarily suspend DNV's accreditation for the validation and verification of CDM projects.

The UN CDM Board has decided to monitor the activities of the DOE through a surveillance visit to be carried out within three (3) months to check the full implementation of all identified corrective actions and their effectiveness, in particular, review of all CDM project activities in response to the first non-conformity and evidences of internal audits at some sites and also monitor 5 projects at random for requests for registration/issuance to assess the competence for undertaking validation/verification activities.

During the suspension period, validation and verification work relating to ongoing projects continued as usual. No projects could, however, be submitted to UNFCCC for registration or requested for issuance of certified emissions reductions. Due to the fact that the on-going projects were progressing normally during the suspension period, only a limited number of projects experienced a delay in their validation and verification processes.

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Source: Carbonyatra - Tue, 17 Feb 2009
Category: business

Pre-sessional meetings and workshop on March 26./27. at Bonn

Pre-sessional meetings and workshop of the seventh session of the Ad Hoc Working Group on Further Commitments for Annex I Parties under the Kyoto Protocol (AWG-KP 7) and the fifth session of the Ad Hoc Working Group on Long-term Cooperative Action ... read more

Pre-sessional meetings and workshop of the seventh session of the
Ad Hoc Working Group on Further Commitments for Annex I Parties under the
Kyoto Protocol (AWG-KP 7) and the fifth session of the Ad Hoc Working Group on Long-term Cooperative Action under the Convention (AWG-LCA 5)

The secretariat wishes to inform Parties, observer States and observer organizations to the
United Nations Framework Convention on Climate Change and its Kyoto Protocol on the following
pre-sessional consultations, meetings and workshop to the seventh session of the Ad Hoc
Working Group on Further Commitments for Annex I Parties under the Kyoto Protocol (AWG-KP 7)
and the fifth session of the Ad Hoc Working Group on Long-term Cooperative Action under the
Convention (AWG-LCA 5).

The following pre-sessional consultations in preparation for the seventh session of the
AWG-KP will take place on Thursday, 26 March 2009 at the Wissenschaftszentrum,
Ahrstrasse 45, 53175 Bonn:

• In-depth consultation on emissions trading and project-based mechanisms.
Thursday, 26 March, from 9 a.m. to 1 p.m. and from 2 p.m. to 7 p.m.

• In-depth consultation on land use, land-use change and forestry.
Thursday, 26 March, from 2 p.m. to 7 p.m.

The following pre-sessional briefings and workshop will take place on Friday, 27 March 2009
at the Hotel Maritim, Godesberger Allee, 53175 Bonn:

• Presentation of document .Fulfilment of the Bali Action Plan and components of the
agreed outcome., by the Chair of the AWG-LCA.

Friday, 27 March, from 9 a.m. to 1.30 p.m.
• Presentation by the AWG-KP Chair of the notes that he was requested to prepare for the
seventh session.

Friday, 27 March, from 2.30 p.m. to 3.30 p.m.
• AWG-KP workshop on issues relating to the scale of emission reductions to be achieved by
Annex I Parties.

Friday, 27 March, from 3.30 p.m. to 6.30 p.m.
The in-depth consultations on Thursday, 26 March will be open to representatives of Parties and
observer States, while the briefings and workshop on Friday, 27 March will be open to representatives of Parties, observer States and observer organizations.

The outcome of these pre-sessional meetings and the workshop will be reported at AWG-KP 7
and AWG-LCA 5, as appropriate.

For more information on these events, visit the UNFCCC website: www.unfccc.int�

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Source: UNFCCC - Mon, 16 Feb 2009
Category: climatepolicy

EB 45 - Report of the meeting available

The report of the forty-fifth meeting of the CDM Executive Board (11 to 13 February 2009), including its annexes, is now available on the UNFCCC CDM website For further informations please click here http://cdm.unfccc.int/EB/index.html ... read more

The report of the forty-fifth meeting of the CDM Executive Board (11 to 13 February 2009), including its annexes, is now available on the UNFCCC CDM website
For further informations please click here

http://cdm.unfccc.int/EB/index.html

�

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Source: UNFCCC - Mon, 16 Feb 2009
Category: climatepolicy

Ban Ki-Moon Calls on US, China, India and Europe to Assume Leadership on Climate Change

In a press Conference at UN Headquarters, Tuesday, Secretary-General Ban Ki-moon called on the United States, China, India and the European Union to show "global leadership of the highest order" in tackling climate change. He told ... read more

In a press Conference at UN Headquarters, Tuesday, Secretary-General Ban Ki-moon called on the United States, China, India and the European Union to show "global leadership of the highest order" in tackling climate change.

He told reporters, "We have no time to lose . the United States, China, India and the European Union - all must show the way."

The same day, the EU announced the signing of an agreement, by Mayors of 350 cities across 23 European countries, to cut carbon emissions by more than 20 percent by 2020. The cuts can save around $10.4 billion in energy costs.

The agreement commits cities, including London, Paris, and Brussels, to "go beyond" a two-year pledge by national governments to cut emissions by 20 percent; increase energy efficiency by 20 percent; and to increase the use of renewable energy sources to 20 percent of all energy used by 2020.

Addressing EU counterparts by video link during the signing ceremony, New York Mayor Michael Bloomberg backed the EU plan and said his city would aim to reduce emissions by 30 percent by 2030.

Meanwhile, Secretary General, Ban Ki-moon welcomed US President Barack Obama's commitment to work with partners at the international level to tackle issues of global concern, saying, "I'm very optimistic about his engagement; he is very proactively engaging policies on major issues." He added, "Reaching a new climate agreement this year will require direct involvement of world leaders. We need direct involvement at the highest level of Government."

The Secretary General confirmed the UN is planning a high-level climate meeting with Heads of State on the margins of the General Assembly meeting, next September. The meeting will take place in the lead up to the UN Climate Summit in Copenhagen in December, which aims to reach a global conclusive agreement on climate change.

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Source: UNEP - Fri, 13 Feb 2009
Category: climatepolicy

Changing ocean conditions turning penguins into long-distance commuters

Chicago - Imagine you live in the suburbs of Chicago and you must commute hundreds of miles to a job in Iowa just to put food on the table. Magellanic penguins living on the Atlantic coast of Argentina face a similar scenario, and it is taking a ... read more

Chicago - Imagine you live in the suburbs of Chicago and you must commute hundreds of miles to a job in Iowa just to put food on the table. Magellanic penguins living on the Atlantic coast of Argentina face a similar scenario, and it is taking a toll.

The penguins' survival is being challenged by wide variability in conditions and food availability, said Dee Boersma, a University of Washington biology professor and a leading authority on Magellanic penguins.

For example, while one parent incubates eggs on the nest the other must go off to find food. But these days, Boersma said, penguins often must swim 25 miles farther to find food than they did just a decade ago.

"That distance might not sound like much, but they also have to swim another 25 miles back, and they are swimming that extra 50 miles while their mates are back at the breeding grounds, sitting on a nest and starving," she said.

Boersma has recently published research documenting some of the serious challenges faced by Magellanic penguins in a colony at Punta Tombo, Argentina, that she has studied for more than 25 years. She discusses her research Thursday (Feb. 12) during a news briefing and Friday during a symposium at the American Association for the Advancement of Science meeting in Chicago.

The Punta Tombo colony has declined more than 20 percent in the last 22 years, leaving just 200,000 breeding pairs, Boersma said.
There are several reasons for the decline, including oil pollution and overharvesting of fish by humans. Climate variation also is a major problem, she found.

Longer trips for food during a given breeding season lessen the chances that a given penguin pair will successfully reproduce. Some younger penguins move to colonies that are closer to food one year but might be farther away from food the following year. Increased ocean variability means penguins often return to their breeding grounds later and are in poorer condition to breed.

They also are increasingly subject to having their desert nests flooded by rain. Five times in the last 25 years, Boersma said, the Punta Tombo reserve has recorded about 2.5 inches of rain between Oct. 15 and Dec. 16, which threatens the survival of eggs and small chicks.
"That turns their little nests into swimming pools," she said.

In addition, there have been increasing instances of El Niño-like events that alter ocean currents, forcing penguins to travel farther for the fish on which they feed. Increasingly, Boersma has found that penguins she tagged at Punta Tombo years ago are turning up in colonies as much as 250 miles farther north. Birds migrating in search of food are forming the new colonies, but often they end up on land that is not part of a government preserve like Punta Tombo is.

The problems don't just confront Magellanic penguins, said Boersma, director of the Wildlife Conservation Society's Penguin Project. Of 17 penguin species, 12 are experiencing rapid population declines. The least concern is for the emperor, king, Ad�lie, little blue and chinstrap penguins, she said. All the rest are nearly threatened, threatened or endangered.

She noted that the success of Argentine fishing fleets is a good signal for how the Magellanic penguins will fare in a given winter as they store nutrition to prepare for the breeding season. There is a small anchovy fishery in the winter, and penguins also favor anchovies. But when the boats don't do well catching anchovies in the winter, that is bad news for penguins in the following breeding season.

"They do well when the fishermen are catching anchovies. If the fishermen are not successful, the penguins start to falter," Boersma said. "If the fishery expands and then collapses, as most do, the penguins will be in trouble.

"Penguins are having trouble with food on their wintering grounds and if that happens they're not going to come back to their breeding grounds," she said. "If we continue to fish down the food chain and take smaller and smaller fish like anchovies, there won't be anything left for penguins and other wildlife that depend on these small fish for food."

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Source: University of Washington - Fri, 13 Feb 2009
Category: climateprotection

Major airlines call for a global approach to aviation emissions at Copenhagen

Four of the world's leading airlines today called for CO2 emissions from international aviation to be included in a new global climate deal. The agreement will be negotiated by world leaders at the United Nations climate summit in Copenhagen in ... read more

Four of the world's leading airlines today called for CO2 emissions from international aviation to be included in a new global climate deal.

The agreement will be negotiated by world leaders at the United Nations climate summit in Copenhagen in December. Emissions from international aviation, which currently contribute around 2 per cent of global CO2 emissions (source: IPCC), were not included in the Kyoto Protocol commitments and are not currently managed under an international climate change treaty.

The new industry coalition, the Aviation Global Deal (AGD) Group, brings together Air France/KLM, British Airways, Cathay Pacific, Virgin Atlantic and airport operator BAA. At its first Asia Pacific meeting in Hong Kong the Group published a communiqu� calling for a pragmatic, fair and effective global policy solution for the sector, as a contribution to the UN International Civil Aviation Organisation's (ICAO) preparations for climate change negotiations in Copenhagen.

Signatories to the communiqu� say that a new global climate deal for aviation must:

• offer genuine environmental benefits;
• be operationally and economically sound;
• maintain competitiveness between airlines and avoid market distortions;
• reflect the UN climate change principle of 'common but differentiated responsibilities' between countries with different levels of development;
• balance the social and economic benefits of flying with the industry's responsibility to cut global emissions and play its part in meeting tough climate change targets; and
• reflect the work of ICAO's Group on International Aviation and Climate Change (GIACC) and IATA's strategy for reducing emissions.

Speaking on behalf of the AGD Group, Tony Tyler, Chief Executive of Cathay Pacific Airways said: "Aviation has a key part to play in reducing global emissions and for too long has been seen as part of the climate problem rather than part of the solution. We hope the work of our group will offer a practical industry-led solution that creates a level-playing field and appeal to policy-makers, environmental groups and businesses alike."

The Group's work is supported by The Climate Group, an international NGO working with government and business to break political deadlock around a global climate deal. Steve Howard, CEO of The Climate Group, said: "Tackling climate change requires all sectors of the economy to contribute. The aviation industry has a major role in shaping a successful international climate policy.

The launch of the AGD Group is an important and welcome step towards helping countries to agree an environmentally robust approach to the sector's international emissions." The AGD Group aims to build support from other international carriers, industry and environmental stakeholders, and complement the work of ICAO.

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Source: British Airways - Fri, 13 Feb 2009
Category: climatepolicy

SC Edison, Brightsource sign contracts for 1,300 MW of solar power

Southern California Edison (SCE) and BrightSource Energy have reached agreement on a series of contracts for 1,300 megawatts of clean solar thermal power, enough to serve nearly 845,000 homes. “These contracts represent a significant addition ... read more

Southern California Edison (SCE) and BrightSource Energy have reached agreement on a series of contracts for 1,300 megawatts of clean solar thermal power, enough to serve nearly 845,000 homes.

“These contracts represent a significant addition to our renewable portfolio, which is already the nation’s largest,” said Stuart Hemphill, SCE vice president, Renewable and Alternative Power. “This innovative solar technology helps to further our position as the nation’s largest purchaser of solar energy, as well.”

“This landmark agreement illustrates the increasing demand for solar thermal energy as a reliable source of utility-scale renewable power,” said John Woolard, CEO of BrightSource Energy. “We look forward to working with Southern California Edison to provide clean, reliable and cost-competitive solar energy.”

The agreement, which now requires approval from the California Public Utilities Commission, calls for a series of seven projects totaling 1,300 megawatts. The first of these solar power plants, sized at 100 megawatts and located in Ivanpah, Calif., could be operating in early 2013 and is expected to produce 286,000 megawatt-hours of renewable electricity per year.

BrightSource will build and place in commercial operation each of its plants as quickly as permitting and infrastructure allow. The full 1,300 megawatts of projects will produce 3.7 billion kilowatt-hours of clean energy and avoid more than two million tons of carbon dioxide emissions annually — the equivalent of removing more than 335,000 cars from the road.

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Source: Edison International - Thu, 12 Feb 2009
Category: business

CDM Executive Board: International emissions offsetting under Kyoto Protocol has critical role

Combating climate change requires action on all fronts and in all countries, which underscores the need to scale up and enhance innovative initiatives like the clean development mechanism (CDM), said Lex de Jonge in assuming the Chair of the CDM ... read more

Combating climate change requires action on all fronts and in all countries, which underscores the need to scale up and enhance innovative initiatives like the clean development mechanism (CDM), said Lex de Jonge in assuming the Chair of the CDM Executive Board.

The CDM is stimulating investment in green growth in developing countries, engaging the private sector in climate change action, and giving countries some flexibility in how they meet their emission reduction targets. It.s time to scale up and enhance the mechanism to release its full potential, Mr. de Jonge said.

Under the CDM, projects that reduce greenhouse gas emissions in developing countries can earn saleable certified emissions reduction (CER) credits. These CERs can be used by countries with an emission reduction or limitation commitment under the Kyoto Protocol to meet a part of that commitment.

When they met in Poland this past December, Parties to the Kyoto Protocol took decisions aimed at streamlining and speeding up the CDM. As well, Parties asked the CDM Executive Board to explore procedures and methodologies that would enhance regional and sub-regional distribution of projects.

The CDM has suffered from its own success . the number of projects that have come forward for vetting and approval is well above what was envisaged by countries when they designed and launched the mechanism. The result is that the Board spends a great deal of its time focused on ensuring the environmental quality of individual projects, and too little time is left to consider enhancements that might scale up the mechanism, speed up the regulatory process, and extend the mechanism’s reach to more developing countries,. Mr. de Jonge said.

My focus during my one-year term will be to ensure that the Board devotes time to policy discussions aimed at improving procedures that will increase efficiency and broaden the reach of the mechanism. To do that we’ll need to look at improving the timely and efficient processing of the enormous workload before the Board, he said.

The Executive Board took an important step in 2007 to increase the number and regional distribution of CDM projects when it approved procedures and guidelines for a programme of activities (PoA). Under PoA, many projects, over a wide area, can be registered under a single programme umbrella, thus reducing regulatory drag without reducing environmental integrity. All emission reductions claimed under CDM must be real, measurable, verifiable and additional to what would have occurred without the project. Eight PoAs have begun the regulatory screening process, involving accredited third-party certifiers, but none has yet been put forward to the Board for registration.

The PoA approach is an example of untapped potential. With some focused attention by the Board, I think we can develop and provide to potential project developers any lacking procedural clarity that might be blocking progress, Mr. de Jonge said.

Mr. de Jonge, who has served on the Executive Board since 2006, is head of the CDM Division of the Directorate for International Affairs in the Ministry of Housing, Spatial Planning and the Environment, the Netherlands. He has taken over the Chair from Rajesh Kumar Sethi.

The Executive Board regulates the CDM, guided by the Parties that ratified the Kyoto Protocol and supported by the UNFCCC secretariat. The Board meets eight times each year, usually in Bonn. Its first meeting in 2009, which opened formally today, is scheduled to conclude on Friday (13.02.09).

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Source: UNFCCC - Thu, 12 Feb 2009
Category: climatepolicy

Australia: ASX proposes launch of REC, CER F&O contracts

The Australian Securities Exchange (ASX) has announced that it intends to list Thermal Coal (Newcastle) futures and options as well as New Zealand Electricity and Victorian Wholesale Gas futures contracts on 21 April, 28 April and 5 May 2009 ... read more

The Australian Securities Exchange (ASX) has announced that it intends to list Thermal Coal (Newcastle) futures and options as well as New Zealand Electricity and Victorian Wholesale Gas futures contracts on 21 April, 28 April and 5 May 2009 respectively.

These products are the first tranche in a suite of new Energy and Environmental products that ASX is proposing to launch. Others include Renewable Energy Certificate futures and options; Australian Emissions Unit futures and options (pending the passage of the Carbon Pollution Reduction Scheme legislation); and Certificate Emission Reduction futures and options (AUD denominated and Australian delivered).

The introduction of Thermal Coal (Newcastle) futures and options at ASX will provide the first exchange and clearing house mechanism for thermal coal in the Asia-Pacific that operates independent of editorial index providers and intermediaries in the over-the-counter (OTC) market.

Independence from editorial indices and prices derived from the OTC market will underpin the robustness and sustainability of ASX’s thermal coal product offering.

The expansion of the existing Australian electricity suite of futures and options to include New Zealand contracts will leverage the infrastructure of ASX and the liquidity provided by financial market participants to service new and existing entrants in the New Zealand electricity market.

The support for gas as a lower carbon emitting fuel source than thermal coal, together with the liquidity of the existing electricity futures and options market operated by ASX, is expected to bode well for the viability of gas and carbon-related futures markets within Australia.

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Source: ASX - Wed, 11 Feb 2009
Category: business

USAID, Ministry of Environment to build capacities for CDM, carbon trading in Jordan

USAID Jordan Economic Development Program (SABEQ) is working closely with the Ministry of Environment to create awareness in Jordan on the Clean Development Mechanism (CDM), and of the use of carbon credit financing on project. The two parties will ... read more

USAID Jordan Economic Development Program (SABEQ) is working closely with the Ministry of Environment to create awareness in Jordan on the Clean Development Mechanism (CDM), and of the use of carbon credit financing on project.

The two parties will focus on capacity building requirements to maximize Jordan's chances to benefit from CDM.

SABEQ's assistance to the Ministry of Environment falls within the program's strategic objectives to enhance the competitiveness of different economic sectors it supports.

The program provides assistance to qualify Jordan for Carbon Trading/CDM financing of carbon projects. An international expert will conduct an assessment of the current carbon trading situation in Jordan as a first step towards identifying CDM opportunities and taking measures to strengthen procedures to make effective use of CDM.

The launch of awareness campaigns on carbon emissions and how to produce a 'carbon credit' will form a national drive that will serve to rationalize and support green investments, enhance the economy and demonstrate Jordan's environmental leadership in the region.

The Kyoto Protocol's CDM provides a framework for financing 'carbon projects' to reduce net global greenhouse gas (GHGs) emissions. Phase I of the Kyoto Protocol set the stage for emissions trading for carbon projects. Projects can trade their resulting emission reductions - Certified Emissions Reductions (CERs) for monetary compensation.

'Understanding how to exploit carbon trading mechanisms can provide an opportunity and process for Jordanian green business ideas to improve their resulting return on investment,' said Laith Al Qasem, Chief of Party, USAID Jordan Economic Development program (SABEQ).

In 2007, USAID Jordan Economic Development Program (SABEQ) sponsored a carbon trading mission to the Carbon Finance Europe Conference and Workshop, held in London. Headed by the Secretary General of the Ministry of Environment and the membership of high level delegates from the ministries of planning, finance and energy, the mission learned about best international experiences in the field from a legal and technical perspective.

The USAID Jordan Economic Development Program (SABEQ) is a five year broad economic development initiative implemented by Bearing Point, Inc. and a sizeable team of international and Jordanian partner firms.

By both supporting improvements in the business environment and providing assistance to expand innovation and productivity in Jordanian businesses, it supports the main objective of building up the private sector as a powerful engine of economic growth.

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Source: Carbonyatra - Wed, 11 Feb 2009
Category: climatepolicy

IFC supports construction of Chile’s first project-financed wind farm

IFC, a member of the World Bank Group, announced it has signed an agreement to invest $61.5 million for the construction of the Totoral Wind Farm, advancing the development of renewable energy in Chile. The 46-megawatt wind project will support the ... read more

IFC, a member of the World Bank Group, announced it has signed an agreement to invest $61.5 million for the construction of the Totoral Wind Farm, advancing the development of renewable energy in Chile. The 46-megawatt wind project will support the country’s objectives of promoting clean energy and diversifying its energy mix with a variety of renewable energy technologies.

The Totoral Wind Farm, situated 300 kilometers north of Santiago, will consist of 23 two-megawatt Vestas wind turbines. The project is expected to generate an average of 110 gigawatt hours per year of electricity for the Chilean central grid, relieving the significant supply constraints the country is experiencing. By increasing renewable energy generation, the Totoral Wind Farm will help reduce environmental pollution, improving the quality of life in the country.

The project will be the country’s first-ever project-financed wind farm. IFC will invest $30.75 million for its own account and syndicate $30.75 million, to be funded by DnB NOR, the Norwegian financial services firm. The project developer is Norvind S.A., a special-purpose vehicle set up by the project sponsors, Statkraft Norfund Power Invest A.S, the Norwegian power developer, and its Chilean partner, Centinela. Centinela, controlled by the Pavez family, is an investment company with interests in a wide range of industries.

The Totoral Wind Farm is expected to be one of the largest operating wind farms in Chile when it is completed in 2009. It will also be the first renewable energy project to be financed under Chile's new "Non-Conventional Renewable Energy Law," which was passed in March 2008. IFC’s financing monetizes the expected carbon revenues under the Kyoto Protocol's Clean Development Mechanism.

Bernie Sheahan, IFC director for infrastructure, said, “IFC expects the investment in Norvind to catalyze more project finance in non-conventional, renewable energy projects in Chile. We look forward to continuing our support for such sustainable energy projects in the country, including wind power, geothermal and small hydropower.”

IFC is supporting the government of Chile’s objectives of rapidly increasing and diversifying its energy supply. In the past five years, IFC has invested over $290 million in five projects with a focus on supporting the expansion of the country’s traditional energy sources such as hydro, as well as less traditional energy sources such as wind.

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Source: IFC - Wed, 11 Feb 2009
Category: climateprotection

International Energy Agency (IEA) launches research programme 'Project Transitions'

The long useful life of energy infrastructure and its related greenhouse gas (GHG) emissions complicate efforts to mitigate climate change and increase energy security. The International Energy Agency (IEA) launched Project Transitions, a ... read more

The long useful life of energy infrastructure and its related greenhouse gas (GHG) emissions complicate efforts to mitigate climate change and increase energy security.

The International Energy Agency (IEA) launched Project Transitions, a multi-stakeholder, multi-output research programme, to determine effective policy responses to this issue through micro-scale analysis from an investor’s perspective. (For download PDF please�click on the photo)

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Source: IEA - Tue, 10 Feb 2009
Category: climateprotection

CCX Market Report

A protocol for quantifying offsets for waste management practices that avoid methane emissions from decaying organic wastes (e.g.,composting) was considered and approved for use on a pilot basis by the CCX. Experts from academia and the public and ... read more

A protocol for quantifying offsets for waste management practices that avoid methane emissions from decaying organic wastes (e.g.,composting) was considered and approved for use on a pilot basis by the CCX.

Experts from academia and the public and private sectors have participated in the Technical Advisory Committee that developed this protocol. As the protocol is currently in its pilot phase, all project submissions must be approved by the CCX Offsets Committee.

CCX experienced a strong start in 2009, with a total of 686,200 metric tons CO2e registered. CCX market prices per Mt of CO2e in January 2009 ranged from $1.65 to $2.15. The average price during the period was $1.90 per Mt. CCX prices through mid-January were on the rise and closed at $2.15 per Mt at end of month. Volume traded averaged 157,619 Mt per day and totaled 3.3 million Mt of CO2e for the entire month of January.

CCX registered 30.93 million Mt CO2e (309,272 CFI contracts) in 2008. This volume represents a 28% increase from the 22.39 million Mt CO2e registered in 2007 (223,931 CFI contracts). Offsets registered in 2008 represent approximately 56% of all CFI contracts registered with the CCX, thereby increasing the total volume registered to 55.27 million Mt CO2e (552,646 CFI contracts). As of February 2, total volume registered was 0.69 million Mt (6,862 CFI contracts).

Projects types with the most tons registered in 2008 were Coal Mine Methane with 9.37 million Mt CO2e, Forestry with 6.96 million Mt CO2e, Agricultural Soil with 4.63 million Mt CO2e and Landfill Methane with 2.29 million Mt CO2e. CCX traded 33,100 CFI contracts (3.3 million metric tons CO2 equivalent) in January, up 68 percent over last month’s volume. Daily volume peaked this month on January 12 when 5,155 contracts traded, with average January daily volume at 1,500 contracts traded per day.

Trading volumes on the European Climate Exchange® (ECX) during January were nearly 288 million metric tons, up 68% year over year, with an average daily volume for the month of 13.7 million metric tons. The month saw a marked increase in activity in the European Union emission Allowance (EUA) March 2009 contract, with over 1,500 contracts traded.

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Source: Carbonyatra - Tue, 10 Feb 2009
Category: emissiontrading

EUA-News KW 06/2009

EUA-Dec09: Close last week Intraweek-Low Intraweek-High Close Friday Change EUR 11.85 EUR 9.90 EUR 11.75 EUR 10.07 -�EUR 1.78 EUA-Spot: Close last week Intraweek-Low ... read more

EUA-Dec09:

Close last week	Intraweek-Low	Intraweek-High	Close Friday	Change
EUR 11.85	EUR 9.90	EUR 11.75	EUR 10.07	-�EUR 1.78

EUA-Spot:

Close last week	Intraweek-Low	Intraweek-High	Close Friday	Change
EUR 11.56	EUR 9.71	EUR 11.51	EUR 9.88	-�EUR 1.68

CER-Spot:

Close last week	Intraweek-Low	Intraweek-High	Close Friday	Change
EUR 10.60	EUR 9.70	EUR 10.35	EUR 9.60	-�EUR 1.00

Carbon Market: EUAs drop below 10 Euro support-level — Industrial selling continues to be main price driver — CERs prove more resistant — EUA/CER spread shrinks to 50c

The EU Allowance market experienced another crash with the EUA spot contract giving up EUR 1.68 on the week. Impressive volumes have been handled especially on spot exchange BlueNext, but with a closing price of EUR 9.88 on Friday Jan 6, market participants are questioning themselves if and when carbon will consolidate and eventually reverse the bearish trend.

Barclays Capital forecasted an average 2009-EUA price of approximately EUR 9.00 last week Friday (see article below), a figure that we expect to be quite realistic, but maybe a tad too low as the market should experience a certain recovery from early spring with utilities ramping up their carbon purchasing activities and potentially supportive news emerging from advances in shaping an US emissions trading scheme.

We therefore expect carbon to hit an intra-year low of approximately 8 Euros over the next 2-3 months and the EUA/CER spread shrinking to zero. We see good potential for a certain recovery in the second half of the year 2009 with EUA prices above the 12 Euro level at the end of the year 2009.

Prices EUA-Dec09 and fundamentals:

�	Monday	Tuesday	Wednesday	Thursday	Friday
EUA Open	11.66	11.29	10.50	10.25	10.30
EUA Close	11.29	10.61	10.43	10.20	10.07
Brent Crude ($)	44.36	44.30	44.14	46.34	46.32
Cal10 Base	50.29	49.55	49.55	49.40	49.84

The market for secondary CERs showed good resistance against the bearish signals coming from the European carbon market.

With the spot CER contract closing at EUR 9.60 the EUA/CER spread shrank to a record low of EUR 0.28 on February 6.

Traded volume of the last 5 days:

OTC Broker. Market

ECX

NordPool

EEX

BlueNext

EXAA

Carbon Pool EU

24.2 Mt

Exch. 18.7 Mt

EFP 29.3 Mt

Exch. 399 kt

OTC 640 kt

CER 690 t

Spot 190 kt

Dec09 1.2 Mt

EUA 39.4 Mt

CER 705 kt

0 t

Spot 2.8 Mt

CER 32 kt

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Source: Climate Corporation - Mon, 09 Feb 2009
Category: emissiontrading

Sea level rise could be worse than anticipated

If global warming some day causes the West Antarctic Ice Sheet to collapse, as many experts believe it could, the resulting sea level rise in much of the United States and other parts of the world would be significantly higher than is currently ... read more

If global warming some day causes the West Antarctic Ice Sheet to collapse, as many experts believe it could, the resulting sea level rise in much of the United States and other parts of the world would be significantly higher than is currently projected, a new study concludes.

The catastrophic increase in sea level, already projected to average between 16 and 17 feet around the world, would be almost 21 feet in such places as Washington, D.C., scientists say, putting it largely underwater. Many coastal areas would be devastated. Much of Southern Florida would disappear.

The report will be published Friday in the journal Science, by researchers from Oregon State University and the University of Toronto. The research was funded by the National Science Foundation and other agencies from the U.S. and Canada.

"We aren't suggesting that a collapse of the West Antarctic Ice Sheet is imminent," said Peter Clark, a professor of geosciences at Oregon State University. "But these findings do suggest that if you are planning for sea level rise, you had better plan a little higher."

The Intergovernmental Panel on Climate Change has estimated that a collapse of this ice sheet would raise sea levels around the world by about 16.5 feet, on average, and that figure is still widely used. However, that theoretical average does not consider several key forces, such as gravity, changes in the Earth's rotation or a rebound of the land on which the massive glacier now rests, scientists say in the new study.

Right now, this ice sheet has a huge mass, towering more than 6,000 feet above sea level over a large section of Antarctica. This mass is sufficient to exert a substantial gravitational attraction, researchers say, pulling water toward it — much as the gravitational forces of the sun and moon cause the constant movement of water on Earth commonly known as tides.

"A study was done more than 30 years ago pointing out this gravitational effect, but for some reason it became virtually ignored," Clark said. "People forgot about it when developing their sea level projections for the future."

And aside from incorporating the gravitational effect, the new study adds further wrinkles to the calculation — the weight of the ice forcing down the land mass on which it sits, and also affecting the orientation of the Earth's spin. When the ice is removed, it appears the underlying land would rebound, and the Earth's axis of rotation defined by the North and South Pole would actually shift about one-third of a mile, also affecting the sea level at various points.

When these forces are all taken into calculation, the sea level anywhere near Antarctica would actually fall, the report concludes, while many other areas, mostly in the Northern Hemisphere, would go up.

If the West Antarctic Ice Sheet completely melted, the East Coast of North America would experience sea levels more than four feet higher than had been previously predicted — almost 21 feet - and the West Coast, as well as Miami, Fla., would be about a foot higher than that. Most of Europe would have seas about 18 feet higher.

"If this did happen, there would also be many other impacts that go far beyond sea level increase, including much higher rates of coastal erosion, greater damage from major storm events, problems with ground water salinization, and other issues," Clark said. "And there could be correlated impacts on other glaciers and ice sheets in coastal areas that could tend to destabilize them as well."

It's still unclear, Clark said, when or if a breakup of the West Antarctic Ice Sheet might occur, or how fast it could happen. It may not happen for hundreds of years, he said, and even then it may not melt in its entirety. Research should continue to better understand the forces at work, he said.

"However, these same effects apply to any amount of melting that may occur from West Antarctica," Clark said. "So many coastal areas need to plan for greater sea level rise than they may have expected."

A significant part of the concern is that much of the base of this huge ice mass actually sits below sea level, forced down to the bedrock by the sheer weight of the ice above it. Its edges flow out into floating ice shelves, including the huge Ross Ice Shelf and Ronne Ice Shelf. This topography makes it "inherently unstable," Clark said.

"There is widespread concern that the West Antarctic Ice Sheet, which is characterized by extensive marine-based sectors, may be prone to collapse in a warming world," the researchers wrote in their report.

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Source: OSU Oregon State University - Mon, 09 Feb 2009
Category: climateprotection

DECC Published Final 2007 Estimates of UK GHG Emissions

UK climate change sustainable development indicator: 2007 greenhouse gas emissions, final figures Headline results - In 2007, UK emissions of the basket of six greenhouse gases(1) covered by the Kyoto Protocol were estimated to be 636.6 million ... read more

UK climate change sustainable development indicator: 2007 greenhouse gas emissions, final figures

Headline results

- In 2007, UK emissions of the basket of six greenhouse gases(1) covered by the Kyoto Protocol were estimated to be 636.6 million tonnes carbon dioxide equivalent(2). This was 1.7 per cent lower than the 2006 figure of 647.9 million tonnes.

- Carbon dioxide (CO2) is the main greenhouse gas, accounting for about 85 per cent of total UK greenhouse gas emissions in 2007. In 2007, UK net emissions of carbon dioxide(3) were estimated to be 542.6 million tonnes (Mt). This was around 1.5 per cent lower than the 2006 figure of 551.1 (Mt). There were decreases in emissions of 1.8 per cent (4.0 Mt) from the energy supply sector, 4.6 per cent (3.8 Mt) from the residential sector, and 2.6 per cent (2.4 Mt) from the business sector. There were, however, increases in emissions from some other sectors, including 1.0 per cent (1.3 Mt) from the transport sector and 9.5 per cent (1.2 Mt) from industrial processes. These sectors define the source of the emissions, as opposed to where the end-use occurred.

These results are shown in Table 1 and Figure 1 below. The complete time series since 1990 can be found in Annex A.

Emissions are in million tonnes carbon dioxide equivalent.

CO2 emissions figures are for the UK and Crown Dependencies; Greenhouse gas emissions figures also include some Overseas Territories.

Coverage of emissions reporting

Reporting of greenhouse gas emissions under the Kyoto Protocol is based on emissions in the UK, and those Crown Dependencies (Jersey, Guernsey, and the Isle of Man), and Overseas Territories (Bermuda, Cayman Islands, Falkland Islands, Gibraltar and Montserrat) that are party to the UK ratification of the Kyoto Protocol.

Reporting of CO2 emissions for the UK only incorporates Crown Dependencies, but excludes Overseas Territories.

Carbon dioxide is reported as total emissions minus total removals of CO2 from the atmosphere by carbon sinks(4). Carbon sinks are incorporated within the Land Use, Land Use Change and Forestry (LULUCF) sector, which covers afforestation, reforestation, deforestation and forest management. The Kyoto Protocol uses a narrower definition of carbon sinks than that applied for domestic UK CO2 reporting, which therefore results in a slightly different total.
These adjustments mean that the greenhouse gas basket reported for Kyoto differs slightly from the sum of the individual gases as shown.

A more detailed summary of the coverage and breakdown can be found in Annex B.

Revisions to the Inventory

The UK Greenhouse Gas Inventory is reviewed every year, and the whole historical data series is revised to incorporate methodological improvements and new data. This takes into account revisions to the datasets which have been used in its compilation, most notably the UK energy statistics published in the Digest of UK Energy Statistics (DUKES). It is therefore not appropriate to compare the Inventory from one year with that from another - the latest Inventory represents a single consistent data series going back to 1990.

In preparing the 2007 Inventory, the most notable changes to the historical series since the 2006 Inventory was published have been linked to changes in the emissions factors used to estimate emissions attributable to specific activities. For the carbon dioxide series, the most significant changes have resulted from new data being incorporated in the inventory series for 2005 and 2006 in respect of fossil fuels use by power stations, autogenerators and refineries.

Changes to the methodology used for calculating offshore oil and gas use have also resulted in changes to the series for "emissions from manufacture of solid fuels and other energy industries". For the methane series, the most significant changes have been in respect of livestock manure management, again related to the emissions factors, and landfill methane, for which new data has been incorporated from 1998 onwards. For the nitrous oxide series, the only significant changes have resulted from updates to the emissions factors for road transport.

All the revisions to the inventory have resulted in revisions to the 2006 figures. The total of all UK greenhouse gas emissions has been revised downwards from 652.3 to 647.9 million tonnes carbon dioxide equivalent. The figure for UK CO2 emissions has also been revised downwards, from 554.5 to 551.1 million tonnes. Comparing the 2007 figures with the 2006 figures published a year ago will therefore give a different year-on-year percentage change, but one which is incorrect and should not be used.

Revisions from previous estimates

Provisional estimates of 2007 UK greenhouse gas and carbon dioxide emissions were published in March 2008, based on early estimates of energy consumption for the year.

At that time, it was provisionally estimated that total UK greenhouse gas emissions in 2007 would be 639.4 million tonnes of carbon dioxide equivalent, which represented a decrease of 2 per cent from the 2006 figure. The final 2007 figure of 636.6 million tonnes is around 1/2 per cent lower than the provisional estimate, and actually represents a decrease from 2006 to 2007 of around 13/4 per cent.

It was also provisionally estimated that net UK carbon dioxide emissions would be 543.7 million tonnes, representing a decrease of 2 per cent from the 2006 figure. The final 2007 figure of 542.6 million tonnes is fairly close to the provisional estimate, and represents a decrease from 2006 to 2007 of around 11/2 per cent.

These differences arise from a combination of the range of uncertainty inherent in the provisional estimates (of the order of +/-1%), and revisions to energy statistics on which these estimates were based.

UK emissions reduction goals

The UK has a number of goals, both international and domestic, for reducing greenhouse gas emissions.

These can be summarised as follows:

Kyoto Protocol target

The Kyoto Protocol uses a base year which is comprised of 1990 for carbon dioxide, methane and nitrous oxide, and 1995 for fluorinated compounds. To meet its commitment under the Protocol, the UK has agreed a legally binding target to reduce its greenhouse gas emissions to 12.5 per cent below the base year level over the period 2008-2012.

In July 2007, on completion of the review of the UK Inventory, the UK's Kyoto base year figure was 779.9 million tonnes CO2 equivalent, based on the 2006 UK Inventory submission. This means that to meet the UK's Kyoto commitment, greenhouse gas emissions must be below 682.4 million tonnes CO2 equivalent on average per year over the first five year commitment period of the Protocol (2008-2012).

In accordance with this average yearly target, the Kyoto Protocol target for the UK was then set at 3,412 million tonnes carbon dioxide equivalent over the full five year period - this is now the UK's Assigned Amount.

For more details of the UK's Kyoto commitment, see the UK Initial Report under the Kyoto Protocol.

Domestic CO2 goal

The UK has a domestic goal of reducing emissions of carbon dioxide to 20 per cent below 1990 levels by 2010.

UK Climate Change Act

This Act has now set legally binding targets for the UK to reduce greenhouse gas emissions by at least 80 per cent by 2050, and carbon dioxide emissions by at least 26 per cent by 2020, both set against a 1990 baseline. It also requires the Government to set five year carbon budgets, in order to set out a trajectory for emissions reductions to 2050. The first three budgets will cover the periods 2008-12, 2013-17 and 2018-2022, and must be set by 1st June 2009.

Emissions Trading

European Union Emissions Trading Scheme (EU ETS) results are not published as National Statistics, and any results which incorporate EU ETS figures should therefore not be treated as National Statistics.

In reporting emissions reductions against all of these targets, the UK is able to take account of emissions trading through the European Union Emissions Trading Scheme (EU ETS). The Scheme has now entered Phase II, covering the five year period 2008-2012. Final results are now available for each year of Phase I, which covered the three year period 2005-2007.

The EU ETS operates as a cap and trade scheme, which means that any installation within the Scheme in the EU is given an allocation of emissions allowances each year. If the installation's actual emissions are above this initial allocation for the year in question, then the installation must either purchase allowances through the Scheme, or bring forward some allowances from the following year's allocation, so as to cover the deficit.

Conversely, installations with a surplus of emissions compared with their cap are allowed to either sell allowances or carry them over into the following year's allocation, thus providing a financial incentive to reduce emissions. As there is a finite limit of allowances in the Scheme (i.e. the cap), any allowances purchased should come from installations which have reduced emissions.

Overall, in each one of the three years in Phase I, the UK was a net acquirer of allowances. This effectively means that installations between them either purchased or brought forward more emissions allowances than they sold or carried over. Taking this into account within the context of the UK's reported emissions, this will affect the results by reducing the level of emissions by the amount of EU ETS allowances acquired in the year.

It should be noted that at the end of Phase I, the UK Government sold a small number of unallocated allowances from the new entrant reserve on the open market. Since it would not have been appropriate to incorporate these sales in the 2007 results alone, they were spread equally over each of the three years in Phase I. This has therefore resulted in a revision to the EU ETS results published previously for 2005 and 2006.

A report summarising the results from Phase I is due to be published in February 2009. Further details of the Scheme can also be found at the EU ETS section of the Defra website.
The Government will also include any units or credits generated through the Kyoto Protocol's flexible mechanisms in its future assessment of the UK's progress towards its emissions reduction goals.

UK performance against emissions reduction goals

Performance measured against targets, incorporating the net EU ETS trading position, can, where appropriate, be summarised as follows:

- UK emissions of the basket of six greenhouse gases covered by the Kyoto Protocol were 21.7 per cent lower in 2007 than in the base year, down from 779.9 to 611.0 million tonnes carbon dioxide equivalent.

- UK net emissions of carbon dioxide were 12.8 per cent lower in 2007 than in 1990, down from 592.9 to 516.9 million tonnes.

-Although not specifically covered by a separate target, since 1990, emissions of methane and nitrous oxide, the other two major greenhouse gases, have fallen by 53 per cent and 47 per cent respectively. Emissions of the fluorinated compounds have fallen by 23 per cent since 1990 and by 39 per cent since 1995.

These results are shown in the context of the headline results in Table 2 and Figure 2 below. A more detailed summary of the results can also be found in Annex C.

Emissions are in million tonnes carbon dioxide equivalent 

Carbon dioxide

Carbon dioxide is the main man-made contributor to global warming. The UK contributes about 2 per cent to global man-made emissions, which, according to the IPCC, were estimated to be 38 billion tonnes carbon dioxide in 2004. Carbon dioxide accounted for about 85 per cent of the UK's man-made greenhouse gas emissions in 2007.

In 2007, 40 per cent of carbon dioxide emissions were from the energy supply sector, 22 per cent from road transport, 16 per cent from business and 14 per cent from residential fossil fuel use. Since 1990, emissions from road transport have increased by 11 per cent, while emissions from the energy supply industry have reduced by 11 per cent and business emissions have reduced by 19 per cent.

Since 2006, emissions from road transport have risen by 1 per cent, whilst emissions from energy supply, business and residential fossil fuel use have fallen by 2, 3 and 5 per cent respectively.

Methane

Weighted by global warming potential, methane accounted for about 8 per cent of the UK's greenhouse gas emissions in 2007.

Methane emissions, excluding those from natural sources, were 53 per cent below 1990 levels. In 2007, the main sources of methane were landfill sites (41 per cent of the total) and agriculture (38 per cent).

Emissions from landfill have reduced by 59 per cent and emissions from agriculture by 17 per cent since 1990.

Nitrous oxide

Weighted by global warming potential, nitrous oxide emissions accounted for about 5 per cent of the UK's man-made greenhouse gas emissions in 2007.
Nitrous oxide emissions fell by 47 per cent between 1990 and 2007. The largest reductions were in emissions from adipic acid production between 1998 and 1999 which is seen reflected in the reduction of total industrial processes between 1998 and 1999. This leaves agriculture as the main source, accounting for over two thirds of emissions, mainly from agricultural soils.

Emissions from UK-based international aviation and shipping bunkers

*** This is a UK sustainable development strategy indicator ***

Emissions from international aviation and shipping can be estimated from refuelling from bunkers at UK airports and ports (whether by UK or non-UK operators).
Between 2006 and 2007, emissions from international aviation fuel use decreased by 1.9 per cent, although between 1990 and 2007 the level of these emissions has more than doubled. High altitude aviation also has a greenhouse effect over and above that of carbon dioxide alone, but this is not reflected in this indicator.

Between 2006 and 2007, CO2 emissions from domestic aviation also decreased, by 6.6 per cent.
The Government has recently set a new target for carbon dioxide emissions from UK aviation, which requires them to be no higher than 2005 levels in 2050. This target incorporates emissions from both domestic and international aviation.

Between 1990 and 1998 emissions from UK shipping bunkers increased by around a third. Since 1998 there has been a decrease of 23 per cent in emissions from UK shipping bunkers, although there was a 1.5 per cent increase from 2006 to 2007. However, UK operators purchase most of their fuel outside the UK.

Under the guidelines agreed for UNFCCC, reporting emissions from international aviation and shipping are not included in the UK's emissions total, but these estimates are reported as memo items in national greenhouse gas inventories. Parties to the UNFCCC are required to act to limit or reduce emissions from international services working through the International Civil Aviation Organisation (ICAO) and International Maritime Organisation (IMO).

Future updates to emissions estimates

Provisional estimates of UK greenhouse gas emissions for 2008 will be published as National Statistics towards the end of March 2009. This will coincide with the publication of Energy Trends, which will include the first estimates of 2008 UK energy consumption.

Further Information

Further information are available at: http://www.defra.gov.uk/environment/statistics/globatmos/index.htm

Explanatory notes
(1) The basket of greenhouse gases consists of carbon dioxide, methane, nitrous oxide, hydrofluorocarbons, perfluorocarbons and sulphur hexafluoride, all of which are weighted by global warming potential (GWP). The GWP for each gas is defined as its warming influence relative to that of carbon dioxide.
(2) Emissions are presented as carbon dioxide equivalent, in line with international reporting and carbon trading protocols.
(3) Carbon dioxide emissions include both emissions and removals from Land Use, Land Use Change and Forestry.
(4) Carbon sinks are defined by the UNFCCC as "any process, activity or mechanism which removes a greenhouse gas, an aerosol or a precursor of a greenhouse gas from the atmosphere".
COI ref 170248P

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Source: DECC Department of Energy and Climate Change - Fri, 06 Feb 2009
Category: climatepolicy

Clear Skies Solar to build $11 million solar farm in California

Clear Skies Solar, Inc. a turnkey solar electricity installations and renewable energy solutions provider, has initiated project engineering on an $11 million, 3.2MW solar farm in Cantil, California, to be built on 34 acres of company- owned land. ... read more

Clear Skies Solar, Inc. a turnkey solar electricity installations and renewable energy solutions provider, has initiated project engineering on an $11 million, 3.2MW solar farm in Cantil, California, to be built on 34 acres of company- owned land.

Less than three months ago Ezra Green, chief executive officer and chairman of Clear Skies Solar, was quoted in the Wall Street Journal, stating that a California project was stalled due to a lack of funding. Since that time, module prices have fallen as much as 30 percent, reigniting stalled projects such as Clear Skies' Cantil solar farm. Decreasing upfront capital costs and a higher revenue stream now offer investors a higher return than ever before.

"Although this project will be smaller than initially anticipated, the use of thin film technology will offer our investors a substantially higher return, which investors are now demanding under current economic conditions," said Green.

I anticipate that competing technologies and increased manufacturing capacity brought on by massive investments at manufacturing factories will continue to reduce the cost of module prices. Plus, as the Renewable Energy Credit and Carbon Credit markets continue to develop under President Obama's administration, I expect to see the value proposition of these kinds of projects continue to grow in 2009."

The improvement of thin film technologies and subsequent decrease in thin film costs are major contributing factors to the economic feasibility of this project. With a larger footprint than traditional PV panels, the use of thin film typically consumes twice as much land as polysilicon on a per watt basis.

Clear Skies Solar will continue to operate and maintain this solar plant for the next 20 years and expects to see recurring revenue from this management arrangement. The completed Biological Resource Assessment has found no evidence of protected desert wildlife, which is the main environmental issue that has the potential to hinder a project such as this.

Although there are many undeveloped desert areas in California that initially look ideally suited for a solar farm, there are few locations close enough to a utility substation to make the economics of a solar farm project feasible.

"Since this area of the Mojave Desert offers extremely high solar radiation, is not prone to pollution, has minimal rain and has a steady wind factor to keep the panels cooler, we are expecting the output to be 10 percent higher than estimated on the industry irradiation tracking websites," added Green. "This, coupled with our proven low installation costs and declining module prices, makes the Cantil, CA project an attractive investment for the multiple financiers that have approached us to become involved with this project."

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Source: Carbonyatra - Thu, 05 Feb 2009
Category: business

Carbon Capture and Storage: Experts Convene at IEA

IEA hosted over 50 CO2 capture and storage (CCS) regulatory, finance, insurance and public awareness experts in Paris. The goal of the meeting is to develop an international CCS Roadmap which describes targets and timetables for rapid CCS ... read more

IEA hosted over 50 CO2 capture and storage (CCS) regulatory, finance, insurance and public awareness experts in Paris. The goal of the meeting is to develop an international CCS Roadmap which describes targets and timetables for rapid CCS demonstration and deployment, given the importance of CCS as a climate change mitigation technology.

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Source: IEA - Thu, 05 Feb 2009
Category: climatepolicy

Climate Change: 2050 - the future begins today: MEPs adopt key report

The European Parliament recommends detailed measures to be taken in key economic sectors to achieve a future EU integrated policy on climate change. MEPs take as basis the EU objective to keep the global average temperature increase below 2°C and ... read more

The European Parliament recommends detailed measures to be taken in key economic sectors to achieve a future EU integrated policy on climate change. MEPs take as basis the EU objective to keep the global average temperature increase below 2°C and call for a reduction in greenhouse gas emissions of 25 - 40 % to be achieved by 2020 and a reduction of at least 80 % to be achieved by 2050. The resolution was adopted with 570 votes in favour 78 against and 24 abstentions.

MEPs are concerned that "climate change is both more rapid and more serious in terms of its adverse effects than was previously thought". Therefore the Commission should monitor, "whether the EU 2°C target would still achieve the aim of avoiding dangerous climate change". Furthermore, the EU and the other industrialised countries should set as a group, a medium-term target of a 25-40% reduction in greenhouse gas emissions by 2020, as well as a long-term reduction target of at least 80% by 2050, compared to 1990.

A visionary desire to make a difference

According to MEPs we are at a turning point in energy and climate policy, reflected in a growing scarcity of raw materials but MEPs stress it is important "not to capitulate in face of the complexity of the problem but to show a visionary desire to make a difference". MEPs call for global warming and ensuing climate change issues be incorporated in all spheres and policies. Political and educational measures on the basis of a long term perspective are necessary and the citizens need to be engaged in the process of tackling climate change.

Detailed recommendations for tackling climate change

The report sets out in detail a broad range of measures, which, according to MEPs, should be taken in the following fields: energy, biofuels, energy efficiency, mobility, logistics, tourism, carbon capture and storage, agriculture, livestock rearing, forests, soil protection, water management, fisheries, waste and resource management, adaptation measures, health, promotion of technologies of the future, intelligent computer systems, education, training and awareness raising.

Measures proposed in the report include:

• a binding goal of 20% improvement in energy efficiency by 2020 should be proposed by the Commission as well as specific interim reduction targets;
• the creation, as building blocks of a European external energy policy, of solar energy partnerships with third countries in the Mediterranean region
• long term target in the building sector should be net zero-energy performance in new residential buildings by 2015 and in new commercial and public buildings by 2020
• EU should create a European renewable energy community
• Member States and EU institutions (the EU and the Member States) shall give support to research and development in respect of technologies as hydrogen, electric, fuel cells, hybrids or advanced biofuels.
• the Commission should consider setting reduction targets for GHG emissions from the agricultural sector;
• a European Climate Fund and/or corresponding funds in the Member States should be established;
• an EU-wide "supergrid" accessible to all forms of electricity providers should be developed;
• incentives should be made available for citizens to reduce emissions in an affordable way, e.g. by developing information on the carbon content of products and services.
• Member States should provide free energy audits to enable citizens to reduce their energy consumption and their emissions
• Commission and Member States shall support the UN's call for a "Green New Deal"

Highest priority in EU spending should be climate change

MEPs think that in the next EU financial framework, the highest priority must be given to climate change and measures to combat it. They also see the need to increase funding to combat climate change in developing countries and want to incorporate emission reduction requirements and adaptation to climate change in development aid programmes.

Nuclear power

MEPs acknowledge the different approaches of the Member States with regard to nuclear energy and therefore urge the Commission to pay special attention to radioactive waste and its full cycle, with a view of improving safety.

Work-program of the CLIM committee since April 07

Parliament set up its Temporary Committee on Climate Change on 25 April 2007. The report represents the findings of the committee after completing its work.

REF. : 20090204IPR48324

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Source: European Parliament - Wed, 04 Feb 2009
Category: climatepolicy

Climate change: Commission welcomes EP recommendations on future EU climate policy

The European Commission welcomes the report adopted by the European Parliament today setting out recommendations for future EU policy on climate change. The approval of the final report from the Temporary Committee on Climate Change shows the ... read more

The European Commission welcomes the report adopted by the European Parliament today setting out recommendations for future EU policy on climate change. The approval of the final report from the Temporary Committee on Climate Change shows the Parliament's strong support for ambitious EU action to address the climate challenge. Its recommendations are in line with the Commission's thinking set out in last week's Communication on a new global climate agreement.

"This very comprehensive report further demonstrates the European Parliament's clear commitment both to an ambitious EU climate policy and to contributing actively to its development," Environment Commissioner Stavros Dimas said. "This commonality of views between the institutions is essential to maintain Europe's leadership in the international negotiations on a new global climate deal. We need to work together and mobilise all our resources to ensure a strong and effective agreement is reached at the Copenhagen climate conference in December."

Commissioner Dimas added: "As this report brings the Temporary Committee to an end, I would like to take the opportunity to congratulate the committee on its work, particularly Mr Sacconi, its chairman, and Mr Florenz, rapporteur of the report."

The report highlights that tackling climate change will create new jobs and industries, reduce Europe's dependency on imports of fossil fuels and bring social benefits for citizens. This reflects the philosophy behind the integrated energy and climate change strategy proposed by the Commission and endorsed by EU leaders.

The Commission welcomes the report’s support for the proposal that developed countries as a group should commit to cutting greenhouse gas emissions by 25-40% from 1990 levels by 2020 and by at least 80% by 2050.

These objectives are fully in line with the Commission's thinking, as presented in last week's Communication on the Copenhagen agreement (IP/09/141), and with the conclusions of the October 2008 Environment Council. The EU has set an example by putting in place the measures to cut its emissions by 20% (IP/08/1998) and by committing to increase this reduction to 30% if other developed countries commit to comparable cuts in Copenhagen.

Commissioner Dimas said: "I am very pleased to see the explicit recognition throughout the report that the financial and economic crisis is no reason to postpone action against climate change. Delay will only make it harder and more costly to reduce emissions later. Instead, we must see the stimulus that our economies need now as an opportunity to accelerate investment in the low-carbon industries and 'green' jobs of tomorrow. The Commission has seized this opportunity in its European Economic Recovery Plan which focuses on smart investments to promote sustainable prosperity."

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Source: Europa.eu - Wed, 04 Feb 2009
Category: climatepolicy

UK-based company expands into US to promote, sell carbon offsets

The Carbon Advice Group has launched a multi-level affiliate carbon offset network available at CarbonAdviceGroup.com. London-based Carbon Advice Group PLC has created a unique web-based service that enables individuals and businesses to take an ... read more

The Carbon Advice Group has launched a multi-level affiliate carbon offset network available at CarbonAdviceGroup.com. London-based Carbon Advice Group PLC has created a unique web-based service that enables individuals and businesses to take an active role in combating climate change.

The site enables users to directly calculate their carbon footprint and immediately purchase offsets.

The Carbon Advice Group allows anyone to get involved and take an active role in the emerging green economy. The site also offers motivated social entrepreneurs a short process to set up their own merchant site to promote and sell carbon offsets as part of the Carbon Advice Group’s network.

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Source: Carbonyatra - Wed, 04 Feb 2009
Category: business

Dramatic expansion of dead zones in the oceans

Unchecked global warming would leave ocean dwellers gasping for breath. Dead zones are low-oxygen areas in the ocean where higher life forms such as fish, crabs and clams are not able to live. In shallow coastal regions, these zones can be caused by ... read more

Unchecked global warming would leave ocean dwellers gasping for breath. Dead zones are low-oxygen areas in the ocean where higher life forms such as fish, crabs and clams are not able to live.

In shallow coastal regions, these zones can be caused by runoff of excess fertilizers from farming. A team of Danish researchers have now shown that unchecked global warming would lead to a dramatic expansion of low-oxygen areas zones in the global ocean by a factor of 10 or more.

Whereas some coastal dead zones could be recovered by control of fertilizer usage, expanded low-oxygen areas caused by global warming will remain for thousands of years to come, adversely affecting fisheries and ocean ecosystems far into the future. The findings are reported in a paper 'Long-term ocean oxygen depletion in response to carbon dioxide emissions from fossil fuels' published on-line in the scientific journal Nature Geoscience.

Professor Gary Shaffer of the Niels Bohr Institute, University of Copenhagen, who is the leader of the research team at the Danish Center for Earth System Science (DCESS), explains that "such expansion would lead to increased frequency and severity of fish and shellfish mortality events, for example off the west coasts of the continents like off Oregon and Chile".

Large extinction events

Together with senior scientists Steffen Olsen oceanographer at Danish Meteorological Institute and Jens Olaf Pepke Pedersen, physicist at National Space Institute, Technical University of Denmark, Professor Shaffer has performed projections with the newly-developed DCESS Earth System Model, projections that extend 100,000 years into the future.

He adds that "if, as in many climate model simulations, the overturning circulation of the ocean would greatly weaken in response to global warming, these oxygen minimum zones would expand much more still and invade the deep ocean." Extreme events of ocean oxygen depletion leading to anoxia are thought to be prime candidates for explaining some of the large extinction events in Earth history including the largest such event at the end of the Permian 250 million years ago.

Series of changes

Furthermore, as suboxic zones expand, essential nutrients are stripped from the ocean by the process of denitrification. This in turn would shift biological production in the lighted surface layers of the ocean toward plankton species that are able to fix free dissolved nitrogen. This would then lead to large, unpredictable changes in ocean ecosystem structure and productivity, on top of other large unpredictable changes to be expected from ocean acidification, the other great oceanic consequence of high atmospheric carbon dioxide concentrations from fossil fuel burning.

Professor Shaffer warns that as a result, "the future of the ocean as a large food reserve would be more uncertain. Reduced fossil fuel emissions are needed over the next few generations to limit ongoing ocean oxygen depletion and acidification and their long-term adverse effects".

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Source: University of Copenhagen / Niels Bohr Institute - Tue, 03 Feb 2009
Category: climateprotection

Fewer days of extreme cold and more days of extreme heat in Europe

Scientists from the Complutense University of Madrid (UCM) have selected 262 European observatories which analysed the series of minimum and maximum daily temperatures from 1955 to 1998 to estimate trend variations in extreme temperature events. ... read more

Scientists from the Complutense University of Madrid (UCM) have selected 262 European observatories which analysed the series of minimum and maximum daily temperatures from 1955 to 1998 to estimate trend variations in extreme temperature events.

According to the study, in Europe days of extreme cold are decreasing and days of extreme heat increasing. From 0.5ºC to 1ºC in the average minimum temperature, and from 0.5ºC to 2ºC in the average maximum temperature.

Continuous rises in annual temperatures in certain areas lead to “changes in the environment and significant increases in the frequency of values considered extreme temperatures”, SINC was told by Emiliano Hernández, Professor of Atmospheric Physics at the UCM and one of the study's authors. To reach this conclusion, the scientists worked with 135 stations with a daily series of minimum temperatures and 127 stations with a daily series of maximum temperatures, located in 34 European countries.

The study, recently published in the journal Atmosfera, looked at temperatures from January 1, 1955 to December 31, 1998, and analysed the pattern of extreme temperature days in Europe. “All the series of temperatures have been homogenised to eliminate possible discontinuity points, and highlight any factor that is not meteorological or climatic”, the physicists pointed out.

Higher frequency of days of extreme heat

During the 44 years of analysis, the researchers recorded extreme cold events (between the months of November and March) and extreme heat events (from June to September) noting a slight decrease in days of extreme cold and increase in days of extreme heat”, commented Hernández.

65.2% of the stations that measured minimum temperatures showed that these temperatures have been increasing, while 40% of the stations that measured maximum temperatures showed that these temperatures have risen too. Observatories that detected these trends are located in Western Europe, including the British Isles and Iceland for both extreme cold days and extreme heat days.

“The reduction in days of extreme cold is due to an increase in the average minimum temperature from 0.5ºC to 1ºC during the analysis period, while for days of extreme heat, the increases in the average maximum temperature were from 0.5ºC to 2ºC”, the scientists explained.

The decrease in days of extreme cold and increase in days of extreme heat are due to both local and global factors, according to the scientists. Some of them include the heat island produced in cities or the change in the general circulation of the atmosphere which directly determines extreme temperature events.

The danger of heatwaves

Apart from their direct relationship with climate change, extreme temperatures (minimum and maximum) particularly affect human health. The scientific community has explained on numerous occasions that the impact of heatwaves is far greater than that of minimum temperatures.

Since 1860, the planet's average temperature has increased by 0.60ºC. “In particular, in the 2003 heatwave, which affected most of Europe, the average temperature was 3°C more than the normal value for the summers from 1961 to 1990 with the most significant increases being in central France, Switzerland, northern Italy and southern Germany”, stressed Marco Cony, co-author of the study and physicist at the UCM.

An example of the effects of days of extreme heat, which will increase in frequency, is the heatwave that hit Europe in 2003. That summer record maximum temperatures were recorded in monthly, weekly and daily scales. For example, in Switzerland a temperature of 41.50ºC was recorded while in Portugal, 47.30ºC.

Experts warn that excessive heat can cause stress, worsening of diseases and even death, such as in the summer of 2003, when over 30,000 people died throughout Europe from the high temperatures.

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Quelle: alphagalileo - Tue, 03 Feb 2009
Category: climateprotection

Greenpeace: New Zealand has one of the worst climate change records

“New Zealand’s reputation is already weakened by one of the worst climate change records in the developed world, water pollution from industrial dairying and unsustainable fisheries,” said Greenpeace Political Advisor Geoff Keey. ... read more

“New Zealand’s reputation is already weakened by one of the worst climate change records in the developed world, water pollution from industrial dairying and unsustainable fisheries,” said Greenpeace Political Advisor Geoff Keey.

”Today’s announcement just makes New Zealand look worse. “The reforms prioritise growth and development over the environment, which is nonsensical when the sustainability of that growth is entirely dependent on the environment. As Tourism Minister, John Key should know that gutting New Zealand’s environment protection law is not going to serve us well in the long term.”

Keey said the Prime Minister should look to UK Conservative Leader David Cameron and new US President Barack Obama, who were both making environmental action a priority. “New Zealand is looking increasingly isolated and behind the times on the world stage.

“The Government seems to have forgotten that many overseas consumers won’t visit New Zealand or buy New Zealand products if they discover our clean green reputation is a con.

“In these times of economic crisis, one of our key means of survival will be our clean green brand. Weakening New Zealand’s environmental laws is counterproductive because it will leave that brand in tatters.”

Keey said the changes to the RMA would help electricity companies build fossil fuel power stations without worrying about local opposition, such as from John Key's constituents near the proposed Rodney power station. The lack of consultation over the reforms was insulting.

“They mark a major change to the rights and duties of New Zealanders and they should have put out to public consultation before being tabled in Parliament.

New Zealanders will struggle to understand an attack on their rights of this scale before it becomes law, which smacks of an ambush.” Keey said the only part of the reform that was good for the environment was the proposed increase in fines for non-compliance.

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Source: Greenpeace New Zealand - Tue, 03 Feb 2009
Category: climatepolicy

Climate change now presents a diplomatic opportunity: World Economic Forum

Shaping an Opportunity Out of Crisis The World Economic Forum Annual Meeting 2009 has issued the following statement from Members of the Global Agenda Council on Climate Change. A summary of the statement is presented below: 1. Few other challenges ... read more

Shaping an Opportunity Out of Crisis

The World Economic Forum Annual Meeting 2009 has issued the following statement from Members of the Global Agenda Council on Climate Change. A summary of the statement is presented below:

1. Few other challenges are as serious for the future of humanity as climate change. For richer countries - as per recent announcements by US and European leaders - the aspiration should be at least an 80% reduction by 2050 relative to 1990 levels, along with appropriate nearer-term targets such as in 2020 or 2025.

2. The need to begin the transition to a low-carbon global economy has become far more urgent. Economic recession is not an answer to climate change. We want the world economy to grow and this growth must be sustainable, which means transitioning to a low-carbon global economy. Developed countries must show leadership in driving forward the low-carbon transition and in leading Research Development & Demonstration (RD&D;) for low-carbon technologies. These challenges will be impossible to meet without the full engagement of major developing countries as well.

3. We must innovate as we rebuild our economies during 2009. The world is facing a lack of financial liquidity and confidence that require a synchronized global economic stimulus. It is essential that this stimulus also build our capacity to solve the longer term climate crisis.

4. There are real opportunities to stimulate jobs and growth today from investments in the low-carbon economy. Clean technology is developing fast. Large-scale activities in low-emitting technologies, renewables, energy efficiency, building insulation, information and telecommunications and some low-carbon public procurement programmes could be swiftly mobilized around the world.

5 At the same time, a foundation for the longer term can be built, if some of this money is also used to catalyse longer-term strategies, including:
· Restructuring, expanding or creating international markets and capital flows that can stimulate and finance the demand for both public and private sector activities in low-carbon goods and services - this requires a clear price on carbon to correct a serious market failure and harness the power of markets to reduce emissions. Such a price can come inter alia from international levies, taxes or quotas, trading schemes, and the reduction and removal of subsidies for carbon based energy sources without hurting the energy poor. Other incentive structures including procurement standards and regulation can give clear signals and allow the exploitation of economies of scale.

6. We believe that unprecedented multistakeholder collaboration is needed for 2009 to link the climate and economic agendas. The negotiation of international commitments and the development of multilateral institutional arrangements for the new climate framework are best addressed by governments within the UN process. If designed in synch, however, the long-term international climate change agreement to be established in 2009 and the various short-term plans for economic recovery could be mutually reinforcing.

7. We also believe that climate change now presents a diplomatic opportunity. An international narrative of economic growth and a low-carbon future collectively presented by the governments of the major economies during 2009, in a leadership collaboration with international business, civil society and climate experts, would offer a positive, unifying and long-term multilateral agenda for both the economy and the climate, as well as a positive message for consumers and voters. This affirmative and growth-based agenda would help the global public see how the long-term economic interests of major economies such as the USA, China, India, the EU and Japan are served by coming together around a shared set of objectives.

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Source: Carbonyatra - Mon, 02 Feb 2009
Category: climatepolicy

ADB approves $31.1 million CFL loan

The Asian Development Bank (ADB) will fund an energy-efficiency project in the Philippines that will give away 13 million energy-saving lights to homeowners and businesses as part of a government push to cut the nation's power bills. The project ... read more

The Asian Development Bank (ADB) will fund an energy-efficiency project in the Philippines that will give away 13 million energy-saving lights to homeowners and businesses as part of a government push to cut the nation's power bills. The project includes savings of about $100 million every year in fuel costs and a deferral of an investment of $450 million in power generation and associated network capacity.

ADB's board of directors has approved a $31.1 million loan to the Philippines government to establish the project. The Philippine Energy Efficiency Project will distribute the compact fluorescent lamps (CFL) to customers nationwide in exchange for their incandescent bulbs. Each CFL is expected to save customers 400 pesos, around $8.50, each year for the next 7 to 10 years.

The project will also retrofit government office buildings and public lighting systems with other efficient lighting options and establish an energy service company (ESCO) that will provide financial and technical support to companies planning to reduce energy consumption. ESCO will act as a one-stop-shop for energy efficiency for the public (hospitals, schools and government buildings) and private (industries, hotels, malls) enterprises.

Only 20% of the electricity used by an incandescent bulb produces light, with the remaining 80% wasted as heat. In contrast, a CFL uses all of its electricity input to produce light. While an average incandescent bulb's life is only about 800 hours, the CFLs used in the project will have a life of 10,000 hours with 2-year warranty.

"CFL distribution program is like building 'virtual' power stations," says Sohail Hasnie, senior energy specialist in ADB's Southeast Asia Department. "Put simply, if one million incandescent bulbs are replaced with CFLs at a cost of about $1.5 million, the electricity demand will be reduced by about 50 MW. The impact on the power system will be the same as building a new 50 MW power station, which costs at least $50 million, another $2 million—$3 million each year to operate, and 3—4 years for construction."

As a result of lower greenhouse gas emissions, the project will create carbon credits for the Philippines under the Clean Development Mechanism. The success of the project will encourage private sector participation in energy-efficiency investment.

ADB is extending the loan from its ordinary capital resources to the Philippine government. The loan will have a 25-year repayment period and an interest rate determined in accordance with ADB's LIBOR-based lending facility. The Asian Clean Energy Fund, established by the Government of Japan, will provide a grant of $1.5 million under the Clean Energy Financing Partnership Facility. The government will provide $13.9 million to the project.

The state-owned Philippine National Oil Co. will establish the energy service company (ESCO) using a $7.5 million loan provided by the Government, and under a subsidiary loan agreement approved by ADB.

In the past 30 years, ADB has provided about $2.9 billion in loans and around $15 million in technical assistance to the Philippines power sector.

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Source: ADB Asian Development Bank - Mon, 02 Feb 2009
Category: business

Wind now leads EU power sector

In 2008, more wind power was installed in the EU than any other electricity generating technology. Statistics released by the European Wind Energy Association (EWEA) today show that 43% of all new electricity generating capacity built in the ... read more

In 2008, more wind power was installed in the EU than any other electricity generating technology. Statistics released by the European Wind Energy Association (EWEA) today show that 43% of all new electricity generating capacity built in the European Union last year was wind energy, exceeding all other technologies including gas, coal and nuclear power.

For the first time, wind energy is the leading technology in Europe. A total of 64,949 MW of installed wind energy capacity was operating in the EU by end 2008, 15% higher than in 2007.

“The figures show that wind energy is the undisputed number one choice in Europe’s efforts to move towards clean, indigenous renewable power”, said Christian Kjaer, EWEA Chief Executive.

On average, 20 wind turbines were installed for every working day of 2008. By the end of the year, a total of 160,000 workers were employed directly and indirectly in the sector, which saw investments of about €11 billion in the EU. The wind power capacity installed by end 2008 will, in a normal wind year, produce 142 TWh of electricity, equal to about 4.2% of the EU’s electricity demand, and avoid the emission of 108 million tonnes of C0 2 per year, the equivalent of taking more than 50 million cars off Europe’s roads.

“Wind energy is an example of an intelligent investment that puts EU citizens’ money to work in their own economies rather than transferring it to a handful of fuel-exporting nations”, commented Kjaer. “Investing in wind energy means supporting technology leadership, climate protection, energy independence, commercial opportunities and jobs.”

Germany and Spain are still battling over the top spot. In 2008, Germany is back in a narrow lead with 1,665 MW against Spain’s 1,609 MW. But overall, 2008 saw a much more balanced expansion led by France, the UK and Italy, part of a ‘second wave’ of countries that are providing real momentum to the surge in wind energy. In 2008 Italy added 1,010 MW to reach a total of 3,736 MW of capacity; France 950 MW to reach 3,404 MW and the UK, 836 MW to reach 3,241 MW. Ten EU Member States — over one-third — now each have more than 1,000 MW of installed wind energy capacity[1]. Austria (995 MW) and Greece (985) are just below the 1,000 MW mark.

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A distinct ‘third wave’ became visible for the first time in 2008 as the new Member States had their strongest year ever. Hungary doubled its capacity to 127 MW and Bulgaria tripled its capacity from 57 MW to 158 MW. Poland, one of the fastest growing younger markets, now has 472 MW up from 276 MW. Outside the EU Member States, Turkey tripled its wind energy capacity from 147 MW to 433 MW.

In terms of offshore wind energy, 357 MW of capacity was added in 2008, to reach a total of 1,471 MW. Nearly 2.3% of total installed EU capacity is now offshore.

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[1]These are: Germany, Spain, Denmark, France, Italy, the Netherlands, Portugal, the UK, Sweden and Ireland.

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Source: EWEA European Wind Energy Association - Mon, 02 Feb 2009
Category: business

EU Emissions Trading: News & Information of the calendar week 05/2009

Carbon Market: Spot EUAs move sideways between EUR 11.30 and EUR 11.80 — Low volatility not only in carbon but also in crude, gas and power markets — Why CERs might trade above EUAs in a couple of months from now The EU Allowance market ... read more

Carbon Market: Spot EUAs move sideways between EUR 11.30 and EUR 11.80 — Low volatility not only in carbon but also in crude, gas and power markets — Why CERs might trade above EUAs in a couple of months from now

The EU Allowance market continued to move sideways for most of the week with EUA spot prices trading between EUR 11.30 and EUR 11.80.

The EU Allowance market continued to move sideways for most of the week with EUA spot prices trading between EUR 11.30 and EUR 11.80.

Carbon was supported by a combination of rising crude prices and comparatively positive market sentiment early in the week, leading the EUA spot contract up to hit an intra-week high of EUR 11.95, but a drop in energy commodity — and especially crude — prices on Tuesday Jan 27 took most of the wind out of the sails of carbon.

The EUA spot contract closed some 38c below the high of the day at EUR 11.57.

With little news coming from connected markets carbon continued to move sideways for the rest of the week eventually closing at EUR 11.58 on Thursday Jan 29.

Carbon might remain at current levels for the next couple of days, but some more bad news on the global economic situation and/or the news of Poland potentially allocating EU Allowances within soon might lead to another crash in carbon prices.

With the US sending out positive signals on establishing a nation wide carbon trading scheme and emitters from countries like Australia (and potentially Canada) most likely becoming more active over the next couple of months, the potential for CERs experiencing rising demand increases substantially.

With EU Allowances being valid only within Europe and CERs having the potential to establish themselves as the first globally accepted carbon currency a reversal of current EUA / CER price levels is not impossible anymore.

We are slightly bearish for near-term EUA prices and neutral to slightly bullish for CER prices until mid 2009.

Prices EUA-Dec09 and fundamentals:

�	Friday	Monday	Tuesday	Wednesday	Thursday
EUA Open	11.90	12.20	11.60	11.65	11.89
EUA Close	11.67	12.11	11.91	11.74	11.88
Brent Crude ($)	47.57	46.85	44.17	44.92	45.36
Cal09 Base	49.99	51.28	50.75	50.71	50.79

EUA-Dec09:

Close last week	Intraweek-Low	Intraweek-High	Close Friday	Change
EUR 11.67	EUR 11.52	EUR 12.32	EUR 11.88	+�EUR 0.21

EUA-Spot:

Close last week	Intraweek-Low	Intraweek-High	Close Friday	Change
EUR 11.29	EUR 11.23	EUR 11.95	EUR 11.58	+�EUR 0.19

The market for secondary CERs followed the European carbon market on very low liquidity. The Spot-CER contract traded in a narrow range of only 20c and eventually closed at EUR 10.54 on Thursday Jan 29 resulting in a EUA/CER spot spread just above 1 Euro.

CER-Spot:

Close last week	Intraweek-Low	Intraweek-High	Close Friday	Change
EUR 10.43	EUR 10.50	EUR 10.70	EUR 10.54	+�EUR 0.06

Traded volume of the last�5 days:

OTC Brokered Market

ECX

NordPool

EEX

BlueNext

EXAA

Carbon Pool EU

19.1 Mt

Exch. 17.5 Mt

EFP 35.2 Mt

Exch. 253 kt

OTC 510 kt

CER 0 t

Spot 190 kt

Dec09 1.2 Mt

EUA 21.9 Mt

CER 314 kt

0 t

Spot 2.2 Mt

CER 30 kt

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Carbon Market: EU Allowances trade sideways after hitting all-time-low of EUR 10.52 early in the week - Industrial selling as main price driver

A combination of persistent industrial selling and the resolution of the gas row between Russia and the Ukraine put some more pressure not only on the energy complex but also forced carbon down further over the first days of calendar week 4.

With the EUA spot contract giving up 1 Euro on Monday January 19 and dropping to a new phase II all-time-low of EUR 10.52 in early morning trade on Tuesday Jan 20, carbon looked set to repeat its historic decline of the year 2007.

A rebound of the energy complex and technical indicators pointing into the direction of a heavily oversold market provided support for carbon to claw back some lost gains to close the day on par to Monday’s close of EUR 11.10 (EUA Spot, Tue Jan 20).

Carbon moved sideways between EUR 11.00 and EUR 11.50 for the rest of the week and eventually closed at EUR 11.29 on Friday January 23.

Today, the EUA spot market opened at EUR 11.85 on French exchange BlueNext.

Prices EUA-Dec09 and fundamentals:

�	Monday	Tuesday	Wednesday	Thursday	Friday
EUA Open	12.05	11.55	11.20	11.66	11.90
EUA Close	11.34	11.51	11.50	11.70	11.67
Brent Crude ($)	44.73	43.77	45.24	44.36	47.57
Cal09 Base	50.45	50.10	49.99	50.35	49.99

EUA-Dec09:

Close last week	Intraweek-Low	Intraweek-High	Close Friday	Change
EUR 12.32	EUR 10.81	EUR 12.05	EUR 11.67	-�EUR 0.65

EUA-Spot:

Close last week	Intraweek-Low	Intraweek-High	Close Friday	Change
EUR 12.12	EUR 10.52	EUR 12.00	EUR 11.29	-�EUR 0.83

The market for secondary CERs followed bearish signals from the European carbon market. With the Spot-CER contract trading below the 10 Euro level at times it is becoming more and more difficult for CDM project developers to make money from the primary CER market potentially leading to a substantial reduction in CERs being generated from new projects that would start producing CERs from 2010 (to 2012).

The CER spot contract eventually closed at EUR 10.43 on Friday Jan 23 resulting in a EUA/CER spread of EUR 0.86.

CER-Spot:

Close last week	Intraweek-Low	Intraweek-High	Close Friday	Change
EUR 11.30	EUR 9.95	EUR 11.00	EUR 10.43	-�EUR 0.87

Traded volume of the last�5 days:

OTC Brokered Market

ECX

NordPool

EEX

BlueNext

EXAA

Carbon Pool EU

19.3 Mt

Exch. 23.3 Mt

EFP 32.5 Mt

Exch. 349 kt

OTC 512 kt

CER 22 kt

Spot 0 t

Dec09 719 kt

EUA 31.7 Mt

CER 1.2 Mt

0 t

Spot 1.85 Mt

CER 0 kt

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Carbon Market: EU Allowances give up 1 Euro on the week — EUA Spot drops to EUR 12.40 — Firm crude and gas overpowered by industrial spot selling

The EUA Spot contract lost another EUR 1.07 since last week’s close on the back of aggressive industrial selling which already shaved some 75c off the value of carbon the week before, forcing spot EUAs down below the 13 Euro level, closing at EUR 12.84 on Thursday Jan 15.

The EUA Spot contract lost another EUR 1.07 since last week’s close on the back of aggressive industrial selling which already shaved some 75c off the value of carbon the week before, forcing spot EUAs down below the 13 Euro level, closing at EUR 12.84 on Thursday Jan 15.

Neither the unresolved gas row between Russia and the Ukraine, leading to a jump in front month UK gas prices, nor relatively firm crude markets were able to compete against the overwhelmingly bearish sentiment stemming from reduced industrial production.

With industrials striving to polish up their financial situation by dumping excess emissions certificates on the spot market, a short term recovery of EUA prices seems to be more distant then ever.

Factors that might force prices down further in the short term:

• Recession
• Poland being close to allocating 2008 EU Allowances
• Publication of carbon emissions data of the year 2008 (due in April09)
• As soon as the gas crisis will be resolved carbon might loose another supporting fundamental
• As a result also crude might again drop below $40/bbl accelerating carbon’s decline

Factors that should support prices in the long term:

• Reduced supply of CERs
• Formation of new emissions trading schemes in the US and Australia, possibly boosting demand for CERs and resulting in a further reduction of CERs that are available for installations under the EU ETS
• EU companies overshooting in selling EUAs to generate short term cash and having to buy back allowances at the end of the 2008-12 trading period
• Banking of excess EUAs into phase III of the EU ETS

Today, the EUA spot market opened at EUR 12.75 and lost another 35c in just one hour to hit EUR 12.40 in Friday morning trade.

Prices EUA-Dec09 and fundamentals:

�	Montag	Dienstag	Mittwoch	Donnerstag	Freitag
EUA Open	14.60	14.36	13.30	13.90	13.17
EUA Close	14.44	13.94	13.78	13.28	13.25
Brent Crude ($)	44.68	43.20	47.83	47.73	47.11
Cal09 Base	55.05	53.22	53.05	53.04	53.42

EUA-Dec09:

Close last week	Intraweek-Low	Intraweek-High	Close Friday	Change
EUR 14.44	EUR 13.07	EUR 14.49	EUR 13.25	-�EUR 1.19

EUA-Spot:

Close last week	Intraweek-Low	Intraweek-High	Close Friday	Change
EUR 13.91	EUR 12.80	EUR 13.89	EUR 12.84	-�EUR 1.07

The market for secondary CERs once again showed good resistance against the bearish signals coming from the European carbon market. The Spot-CER contract closed at EUR 12.21 resulting in a further reduction of the EUA/CER spread by some 60c, closing at EUR 0.63 on Thursday Jan 15.

CER-Spot:

Close last week	Intraweek-Low	Intraweek-High	Close Friday	Change
EUR 12.68	EUR 12.00	EUR 12.50	EUR 12.21	-�EUR 0.47

Traded volume of the last 5 days:

OTC Brokered Market

ECX

NordPool

EEX

BlueNext

EXAA

Carbon Pool EU

21.6 Mt

Exch. 25.1 Mt

EFP 33.3 Mt

Exch. 266 kt

OTC 351 kt

CER 0 kt

Spot 0 t

Dec09 1.4 Mt

EUA 36.5 Mt

CER 1.1Mt

51 t

Spot 512 kt

CER 0 kt

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Source: Climate Corporation - Sun, 18 Jan 2009
Category: emissiontrading

Solar spot market pvXchange rounds off 2008 with new record

Trading platform for solar modules profits from the global success of renewable energies Berlin, Germany, 9th January 2009: pvXchange, the global market leader in the procurement of photovoltaic products, continues to enjoy sustained growth. ... read more

Trading platform for solar modules profits from the global success of renewable energies
Berlin, Germany, 9th January 2009: pvXchange, the global market leader in the procurement of photovoltaic products, continues to enjoy sustained growth.

Representing a trading volume of around EUR 300 million, over 100% more goods were traded last year than in 2007 on the spot market for solar technology. Approximately half of all solar modules are being used in projects in Spain, France and Italy.

"We can explain the increase in transactions via our online portal essentially from what our market participants have experienced," said CEO Martin Schachinger. "It seems that, in times of rapid change, the short-term trading of modules is more economical and less risky than committing oneself to long-term supply contracts." This trend is also reflected in pvXchange's customer base, which has increased significantly and now numbers almost 3,000. Over the year, pvXchange further expanded its sales department in Europe and overseas to match the rising importance of markets such as Italy, France, the USA and India.

The company's prospects for the coming year are also favourable. "Many module vendors will soon no longer be able to afford their own costly sales and distribution structure. With our streamlined structures and customer advisors in all important regions, we offer clear advantages in this respect," Schachinger explains. Competition is tougher because module prices are falling. This fall in price has been caused by a change to the German and Spanish feed-in tariffs which has coincided with the rapid increase in global photovoltaic production capacity.

About pvXchange

Founded in Berlin in 2004, pvXchange GmbH has established itself as the global market leader in the procurement of photovoltaic products for business customers. In 2008, the company procured solar modules with an output of around 100 megawatts. This represents a trading volume of approximately EUR 300 million. With its international network and complementary services, pvXchange is constantly developing its position in the renewable energy market, a market which continues to grow on a global scale. As well as in Europe, pvXchange also has a presence in Asia and the USA.

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Source: pvXchange - Fri, 16 Jan 2009
Category: business

Swepco, Majestic Wind Power sign long-term PPA

American Electric Power's subsidiary Southwestern Electric Power Company has signed a long-term power purchase agreement for renewable wind energy with Majestic Wind Power, a subsidiary of Babcock & Brown Renewable Holdings. Through the 20-year ... read more

American Electric Power's subsidiary Southwestern Electric Power Company has signed a long-term power purchase agreement for renewable wind energy with Majestic Wind Power, a subsidiary of Babcock & Brown Renewable Holdings.

Through the 20-year agreement, Southwestern Electric Power Company (Swepco) will purchase all of the output, including renewable energy credits, of the 79.5MW Majestic wind farm located northeast of Amarillo in Carson County, Texas.

The project, consisting of 53 GE 1.5MW SLE wind turbines and associated equipment, is more than 95% complete and expected to be on line by the end of January 2009. Pricing terms are confidential.

The agreement with Majestic Wind Power brings American Electric Power's (AEP's) long-term renewable-energy purchase commitments up to 455MW since the 1,000MW goal was established. AEP companies have additional requests for proposals out for up to 500MW of renewable energy.

Michael Morris, AEP's chairman, president and CEO said, "We continue to diversify AEP's power generation mix with wind and other renewables, along with new baseload generation using advanced coal technologies, in order to meet our customers' future electricity needs. This latest agreement is part of AEP's voluntary plans, announced in 2007, to add 1,000MW of new wind energy by 2011 as a component of our comprehensive strategy to address greenhouse gas emissions."

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Source: Carbonyatra - Fri, 16 Jan 2009
Category: business

USCAP seeks Carbon Market Board to regulate US carbon market

Washington, D.C.— The U.S. Climate Action Partnership (USCAP) today (15.01.09) unveiled a comprehensive and detailed set of integrated policy recommendations for developing legislation that would create an environmentally effective and ... read more

Washington, D.C.— The U.S. Climate Action Partnership (USCAP) today (15.01.09)
unveiled a comprehensive and detailed set of integrated policy recommendations for developing
legislation that would create an environmentally effective and economically sustainable national
climate protection program.

The landmark document — titled A Blueprint for Legislative Action — echoes the sense of
urgency that President-elect Obama has articulated regarding the need for a cap on
greenhouse gas emissions.

Developed through two years of intensive analysis and consensus-building among 26
corporations and five environmental organizations, the Blueprint offers policymakers a clear
path forward endorsed by a coalition representing a broad swath of the economy and diverse
environmental interests.

"In the past, the U.S. has proven that we have the will, the capabilities and the courage to invest in innovation — even in difficult times," said Jeff Immelt, Chairman and CEO of GE. "Today, capand- trade legislation is a crucial component in fueling the bold clean energy investments
necessary to catapult the US again to preeminence in global energy and environmental policy,
strengthen the country's international competitiveness, and create millions of rewarding new
American jobs."

USCAP believes that strong climate legislation is a critical element of any effort to stimulate
investment and innovation in low-carbon technologies. The Blueprint provides specific
guidelines for the Administration and Congress to enact legislation that both protects the
environment and facilitates the necessary transition to a vibrant, low-carbon economy. That
includes reducing greenhouse gas emissions by 80 percent of 2005 levels by 2050 through an
economy-wide cap-and-trade program.

“The health of our economy and the safety of our climate are inextricably linked, except nature
doesn’t do bail-outs,” noted Jonathan Lash, President of the World Resources Institute.
“USCAP has redefined what is possible. If the diverse membership of USCAP can find common
ground, Congress can agree on effective legislation.”

USCAP noted that every year of delay in controlling emissions increases the risk of unavoidable
consequences that could necessitate even steeper greenhouse gas reductions in the future, at
substantially greater economic cost and social disruption.

The Blueprint details steps for creating a mandatory, economy-wide cap-and-trade program,
coupled with cost containment measures and complementary policies addressing a federal
technology research development and deployment program, coal technology, transportation,
and building and energy efficiency.

Expanding significantly on USCAP’s 2007 groundbreaking Call for Action, the Blueprint includes
an aggressive emission reduction schedule, further details on the scope of coverage for the
cap-and-trade program, and recommendations for how to include as much of the U.S. economy
under the cap as administratively and politically feasible.

Highlights from the Blueprint include:

Requiring an 80 percent emissions reduction below 2005 levels by 2050: National
climate legislation should include aggressive emission reduction targets that can be
achieved at manageable costs to the economy. The targets and timetables in the
Blueprint are consistent with the schedule proposed by President-elect Obama.

Allowing the ample use of offsets to manage program costs: Offsets should be used
to help meet compliance obligations and should be environmentally additional, verifiable,
permanent, measurable, and enforceable. Other cost containment measures to limit
price spikes and volatility are detailed in the Blueprint.

Using the value of emissions allowances to protect consumers and businesses
while advancing climate program goals: USCAP believes the distribution of
allowance value should facilitate the transition to a low-carbon economy for consumers
and businesses, provide capital to support new low- and zero-GHG-emitting
technologies, and address the need for humans and the environment to adapt to climate
change. A significant portion of allowances should be initially distributed to capped
entities and particularly disadvantaged economic sectors. The Blueprint identifies
principles to guide the fair and equitable allocation of allowance value to mitigate costs
to consumers and impacted sectors of the economy.

Creating incentives for technology development and deployment: In addition to
outlining the design and function of a cap-and-trade system, the Blueprint details
complementary measures for coal, technology transformation, transportation, and
buildings and energy efficiency that are needed to facilitate rapid technology
transformation and to ensure that actual reductions in emissions occur across the
economy. These measures are presented as necessary components of the cap-andtrade
recommendations.

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Source: USCAP - Fri, 16 Jan 2009
Category: climatepolicy

TASMA issued 603349 CERs

Tamilnadu Spinning Mills Association (TASMA) has been issued 603349 CERs for a 8 month crediting period. This project involves bundling of 704 wind mill sub projects. The small wind mill sub project owners, who own spinning mills, and have invested ... read more

Tamilnadu Spinning Mills Association (TASMA) has been issued 603349 CERs for a 8 month crediting period. This project involves bundling of 704 wind mill sub projects.

The small wind mill sub project owners, who own spinning mills, and have invested into wind energy generation and are either meeting their captive needs or to export to the grid.
All the wind mills are connected to the grid of the Tamil Nadu Electricity Board (TNEB) / Southern Grid, situated within the State of Tamilnadu, micro-sited in many locations based on wind availability.

This wind based electricity generation aggregates to a total Installed capacity of 468 MW and the generation is expected to be approximately 860 GWh, annually.

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Source: Carbonyatra - Fri, 16 Jan 2009
Category: business

World Bank, ROXAS sign carbon credit deal

The World Bank and the ROXOL Bioenergy Corporation, the bioethanol unit of Philippine-listed sugar group ROXAS Holdings, Inc., signed Wednesday (January 14) an Emission Reductions Purchase Agreement (ERPA) for the latter's ethanol plant's wastewater ... read more

The World Bank and the ROXOL Bioenergy Corporation, the bioethanol unit of Philippine-listed sugar group ROXAS Holdings, Inc., signed Wednesday (January 14) an Emission Reductions Purchase Agreement (ERPA) for the latter's ethanol plant's wastewater and methane gas recovery project, that will avoid air and water pollution, mitigate the impact of climate change and help address poverty in Negros Occidental. The bank signed as a trustee of the Community Development Carbon Fund (CDCF).

* The ERPA has a crediting period of 10 years starting 2010. Capitalized by developed countries and private companies, while the CDCF is one of the carbon funds being managed by the World Bank to purchase carbon emission reduction credits under the Clean Development Mechanism (CDM) of the Kyoto Protocol.

*CDM encourages investments in clean-and-green and climate-friendly business processes and technologies in developing countries, including the Philippines.

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Source: Carbonyatra - Thu, 15 Jan 2009
Category: business

Chicago Climate Futures Exchange Announces New Record for Daily Volume

Chicago Climate Futures Exchange (CCFE), a CFTC Designated Contract Market and wholly-owned subsidiary of Chicago Climate Exchange (CCX), has announced that CCFE established a new record for total daily volume with 9,538 contracts traded on January ... read more

Chicago Climate Futures Exchange (CCFE), a CFTC Designated Contract Market and wholly-owned subsidiary of Chicago Climate Exchange (CCX), has announced that CCFE established a new record for total daily volume with 9,538 contracts traded on January 9, 2009.

CCFE has experienced the following growth in volume since inception:
2005 Volume — 171 contracts traded
2006 Volume — 28,924 contracts traded
2007 Volume — 283,758 contracts traded
2008 Volume — 484,320 contracts traded

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Source: Carbonyatra - Tue, 13 Jan 2009
Category: emissiontrading

RGGI: Third Auction on March 18th

The Regional Greenhouse Gas Initiative (RGGI) initiated the bidding process for the first compliance period auction of carbon dioxide (CO2) emission allowances, to be held on March 18, 2009. The first RGGI auction for CO2 allowances of 2009 will ... read more

The Regional Greenhouse Gas Initiative (RGGI) initiated the bidding process for the first compliance period auction of carbon dioxide (CO2) emission allowances, to be held on March 18, 2009.

The first RGGI auction for CO2 allowances of 2009 will offer allowances from all ten states participating in RGGI, including Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Vermont. States will offer for sale approximately 31.5 million CO2 allowances from 2009 and 2.2 million CO2 allowances from 2012.

Given the very early stage of the market for RGGI CO2 emission allowances, the Participating States have determined that it is appropriate to continue to use a reserve price of $1.86 for all the allowances being offered for sale in Auction 3. Before CO2 Allowance Auction 4, the Participating States will once again consider whether there are enough data available to justify the calculation of a current market reserve price.

Today’s release of the Auction Notice, Qualification Application, and Intent to Bid opens the process that potential bidders must follow to qualify for and participate in the March CO2 allowance auction. The ten RGGI states urge prospective bidders to bid for CO2 allowances by downloading auction documents from the RGGI website at: http://www.rggi.org/co2-auctions/information

All potential bidders must have successfully completed the qualification process to participate in the auction.

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Source: RGGI - Tue, 13 Jan 2009
Category: emissiontrading

New Zealand Minister announces $10 million in climate change research funding

Agriculture and Forestry Minister David Carter announced today (January 12) over $10 million in funding for research projects designed to help the agriculture and forestry sectors adapt and respond to climate change. Carter said research into new ... read more

Agriculture and Forestry Minister David Carter announced today (January 12) over $10 million in funding for research projects designed to help the agriculture and forestry sectors adapt and respond to climate change.

Carter said research into new technologies that improve efficiency of production while reducing greenhouse gas emissions was vital to maintaining and building upon New Zealand's world class primary sector.

"This research is focussed in areas that will generate innovation and technological breakthroughs. Creating conditions for continual innovation in agricultural and forestry techniques will see New Zealand farmers and foresters meeting expectations at home and from overseas markets.

"The Government is committed to substantial investment in finding solutions to combat climate change, especially by way of research in the agriculture sector.

"Research such as this will be at the very heart of New Zealand being able to effectively respond to the challenges posed by climate change.

"The projects are truly world-class and stand to be highly advantageous to New Zealand."

The work will be funded under the Ministry of Agriculture and Forestry's (MAF) Sustainable Land Management and Climate Change initiative.

Research projects that have been awarded grants in this round include technologies for reducing methane emissions from dairy animals, assessing the impacts of climate change on international trade, and examination of the effects of climate change on wind, fire and drought conditions for agriculture and forestry production.

"MAF and the Foundation for Research Science and Technology, who administer the funding, set tough standards for the research which ensures that it is targeted and designed to return a benefit to New Zealand in the short or medium term," he added.

The funding announced today will be distributed over the next three years.

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Source: Carbonyatra - Tue, 13 Jan 2009
Category: climatepolicy

UNFCCC: New Methodologies submitted

------------------------------------------------------------ Methodologies ------------------------------------------------------------ (a) The following proposals on new baseline and monitoring methodologies have been submitted to the CDM ... read more

------------------------------------------------------------
Methodologies
------------------------------------------------------------

(a) The following proposals on new baseline and monitoring methodologies have been submitted to the CDM Executive Board for its review and are available for public input from 13 January - 02 February 2009:

NM0296: Partial conversion of feedstock from coal to natural gas feedstock conversion for the large-scale manufacture of synthesis gas at Sasol Synfuels at the Secunda facility in South Africa
NM0297: Carbon dioxide and methane emissions avoidance from Block-C, Central Kalimantan
NM0298: Solar water heating in South Africa
NM0299: Reducing losses of SF6 in electricity transmission and distribution equipment manufacturing by Hyosung Inc

The above submitted documentation is available here

(b) New requests for revision and new requests for clarification of approved methodologies have been received. Further information on these submissions is available on the UNFCCC CDM web site (for revisions) and� (for clarifications).

------------------------------------------------------------
SSC Methodologies
------------------------------------------------------------

(a) The following proposals on new SSC methodologies have been submitted to the CDM Executive Board for its review and are available for public input from 12 January - 23 January 2009:

SSC-NM020: Electricity and/or heat generation using fuel cell
SSC-NM021: Reduction of energy consumption during hydraulic lime production for construction purposes by adding non-calcined mineral components and additives
SSC-NM022: Emissions reductions from electricity generation resulting from energy efficiency measures
SSC-NM023: Energy efficiency and renewable energy measures in new housing
SSC-NM024: Methodology for using recycling material instead of raw material

The above submitted documentation is available under the following link:

http://cdm.unfccc.int/methodologies/SSCmethodologies/NewSSCMethodologies/index.html

(b) New requests for clarification/revision of approved SSC methodologies have been received. Further information on these submissions is available on the UNFCCC CDM web site
-----------------------------------------------------------
CDM Website Survey
-----------------------------------------------------------

The aim of our survey is to improve the content and functionality of the CDM website.
The survey will take you a few minutes to complete.
Direct link to the survey >>> klick here

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Source: UNFCCC - Tue, 13 Jan 2009
Category: climatepolicy

EU Emissions Trading: News & Information of the calendar week 02/2009

Carbon Market: EUA-Dec09 drops below 15 Euros - Industrial spot selling as main price driver — Gas Crisis provides only short term support The EUA-Dec08 contract ended the year 2008 at EUR 15.90, some EUR 6.80 below the annual average price of ... read more

Carbon Market: EUA-Dec09 drops below 15 Euros - Industrial spot selling as main price driver — Gas Crisis provides only short term support

The EUA-Dec08 contract ended the year 2008 at EUR 15.90, some EUR 6.80 below the annual average price of EUR 22.70.

The EUA-Dec08 contract ended the year 2008 at EUR 15.90, some EUR 6.80 below the annual average price of EUR 22.70.

The first days of the year 2009 were dominated by industrial spot-selling leading to impressive volumes being processed on Europe’s biggest spot exchange BlueNext. With spot trading dominating the carbon market for the first time since the start of the EU ETS back in 2005 and comparatively little activity in over the counter and futures markets, neither the Russian/Ukrainian gas row nor the cold weather were able to overcome the bearish spot market which is dominated by European industry striving to turn emissions certificates into cash rather sooner than later.

Bearish US crude statistics shaved some $5/bbl off the value of Brent crude in Wednesday afternoon trade which was immediately translated into carbon dropping some 50c to EUR 15.00.

With EUA spot selling intensifying on Thursday afternoon carbon also crashed through the 15 Euro level to hit an intra week low of EUR 14.49.

With EUA spot selling intensifying on Thursday afternoon carbon also crashed through the 15 Euro level to hit an intra week low of EUR 14.49.

The EUA-Dec09 contract eventually closed at EUR 14.76.

The carbon price of 2009 will not only be decided by its fundamentals, with the energy complex continuing to lead the way, but to an even greater extent by the scale of the economic crisis and the way how the EU as well as nations like the US and China plan to fight recession.

We are especially bearish for the development of carbon prices over the next couple of months as incidents like the imminent allocation of 2008 EUAs to Polish installations under the EU ETS or the release of 2008 emissions data due in April 2009 combined with industrial spot-selling, which is set to last for some time, might provide some more potential for further price reductions.

Prices EUA-Dec09 and fundamentals:

�

�	Friday	Monday	Tuesday	Wednesday	Thursday
EUA Open	15.90	15.94	15.60	15.75	15.40
EUA Close	15.55	15.38	15.69	15.45	14.76
Brent Crude ($)	47.00	49.26	50.49	45.78	45.60
Cal09 Base	56.75	57.51	59.25	57.75	56.25

EUA-Dec09:

Close last week	Intraweek-Low	Intraweek-High	Close Friday	Change
EUR 15.55	EUR 14.49	EUR 16.04	EUR 14.76	-�EUR 0.79

EUA-Spot:

Close last week	Intraweek-Low	Intraweek-High	Close Friday	Change
EUR 14.64	EUR 13.95	EUR 15.55	EUR 14.01	-�EUR 0.63

The market for secondary CERs showed good resistance against the bearish signals coming from the European carbon market. The EUA/CER spot-spread, after closing at EUR 1.83 on December 31, 2008, shrank to EUR 1.21 at the time of writing

CER-Spot:

Close last week	Intraweek-Low	Intraweek-High	Close Friday	Change
EUR 13.25	EUR 12.70	EUR 13.70	EUR 12.80	-�EUR 0.45

Traded volume of the last�5 days:

OTC Brokered Market

ECX

NordPool

EEX

BlueNext

EXAA

Carbon Pool EU

8.2 Mt

Exch. 13.7 Mt

EFP 16.5 Mt

Exch. 77 kt

OTC 97 kt

CER 0 kt

Spot 0 t

Dec09 1.1 Mt

EUA 23.5 Mt

CER 184 kt

0 t

Spot 102 kt

CER 0 kt

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