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South Korea to Increase Emissions Cap

South Korea is expected to introduce a carbon trading scheme that is about 3 percent larger than it had previously announced, according to Reuters. The South Korean government said last Thursday that it would distribute 1.687 billion metric tons of carbon-equivalent emission permits from 2015-17 as part of its trading … Read more »

Britain First to Backload Permits

Britain will be the first to cut the supply of European Union carbon permits on March 12, Reuters reports. Britain will cut the volume in its fortnightly auction of permits under the EU Emissions Trading System to 2.515 million units from March 12. Manufacturers have said they foresee a permit … Read more »

Policy & Enforcement Briefing: Obama-Utility Meeting, Efficiency Bill, EPA in Court

President Obama will meet with electric utility CEOs and power industry trade associations today to discuss lessons learned and actions taken since Hurricane Sandy, with an eye on the upcoming hurricane season, the Hill reports. The EPA yesterday defended its climate change regulations in two cases at the US Court of Appeals, GreenWire reports. … Read more »

Policy & Enforcement Briefing: Clean Energy Ministerial, NYC Zoning, EU ETS, Feed-in Tariffs

The 23-government Clean Energy Ministerial and the UN Sustainable Energy for All program have outlined a set of commitments for participating countries and the private sector to promote energy efficiency, renewable energy technologies, and increased global energy access. Developments include: •  The Super-Efficient Equipment and Appliance Deployment  initiative aims to … Read more »

Airlines Strike Global Deal on Emissions Cuts

The European Union can move ahead with plans to charge airlines for emissions permits starting in 2012, after airlines agreed to a global deal on emissions cuts, according to the European Commission, reports Reuters. In 2008, the EU agreed to include aviation in its emissions trading scheme (ETS), under which … Read more »

Report: EU ETS Could Increase Carbon Emissions

Report: EU ETS Could Increase Carbon Emissions

The five-year period of the European Union’s emissions trading scheme (ETS) that ends in 2012 will deliver carbon savings of less than a third of 1 percent of total emissions, according to a report from emissions trading campaign group Sandbag, reports The Guardian. The report, “Cap or trap? How the … Read more »

EPA Proposes New Rules for GHG Permits

EPA Proposes New Rules for GHG Permits

The U.S. Environmental Protection Agency (EPA) has proposed new rules to ensure that factories and power plants will be able to obtain permits to emit greenhouse gases starting next year. Earlier this year, the EPA finalized rules that require these plants and other large stationary greenhouse gas (GHG) sources to obtain GHG permits, … Read more »

Australia Drops Plans for Carbon Emissions Scheme until 2012

After months of debate, Australia is dropping its plans for an ambitious carbon emissions trade scheme for at least three years due to Senate opposition and slow progress on a global climate pact, waiting until the Kyoto pact expires in 2012, according to Prime Minister Kevin Rudd, reports Reuters. Global … Read more »

RGGI Auction Volume Up 42%

Trading of carbon permits under the Regional Greenhouse Gas Initiative rose 42 percent in the most recent trading session. More than 40.612 million allowances were auctioned March 10, up from 28.591 million allowances sold Dec. 2. This, the seventh such auction, brought a price of $2.07 for permits and $1.86 … Read more »

Electricity Prices to Rise Along With Carbon Pricing by 2013

European carbon prices along with electricity costs could rise over the next three years unless utilities have earlier access to future carbon permits, according to the EU electricity association Eurelectric, reports Reuters. The EU is working on auctioning carbon permit rules for the third phase of its Emissions Trading Scheme … Read more »

Senate Climate Bill May be Reshaped by Coal States

Senators from states heavily reliant on coal-fired electricity want the climate bill to apportion more free carbon permits to their states, reports Reuters. Without such changes, electricity consumers in certain states would have to pay unfairly higher rates, a group of 14 Democratic Senators stated, in a letter to other … Read more »

Carbon Trading Could Trigger a ‘Sub-prime Style’ Economic Crash

Plans to expand carbon markets at UN climate talks this December could trigger a second ‘sub-prime’ style financial collapse and fail to protect the world from a global warming catastrophe, according to a report from Friends of the Earth. The trade in carbon permits and credits, primarily based in Europe, … Read more »