House passes landmark climate change bill

President Barack Obama scored a major victory on Friday when the House of Representatives passed legislation to slash industrial pollution that is blamed for global warming.
The Democratic-controlled House passed the climate change bill, a top priority for Obama, by a vote of 219-212. As has become routine on major bills in Congress this year, the vote was partisan, with only eight Republicans joining Democrats for the bill. Forty-four Democrats voted against it.
Climate change legislation still must get through the Senate. Senators were expected to try to write their own version but prospects for this year were uncertain.
After the House vote, Senate Majority Leader Harry Reid said he hoped the Senate can pass a bill "this fall." (Source: Reuters)

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US House Strikes Deal on Climate Change

House Democrats struck a deal on climate change legislation Tuesday evening, clearing the path for final House passage on Friday. Energy and Commerce Chairman Henry Waxman (D-Calif.) and Agriculture Chairman Collin Peterson (D-Minn.) announced their agreement after emerging from a closed-door meeting with the fiscally conservative Blue Dogs (Source: EE Daily).

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UN climate talks advance, poor urge more CO2 cuts

Climate talks made progress on Friday toward a new U.N. treaty to curb global warming but ended far short of calls by developing nations for the rich to make deeper cuts in greenhouse gas emissions.
Four years of talks to widen the existing Kyoto Protocol have struggled to agree on how to share the cost of efforts to curb greenhouses gas mainly emitted by burning fossil fuels.
The United States and Europe warned in closing remarks on Friday that the private sector would finance the climate fight, not their governments.
"I look back on this as a significant session that has advanced our work in important ways," Yvo de Boer, head of the U.N. Climate Change Secretariat, told a news conference at the June 1-12 talks among 183 nations in Bonn. (Source: Reuters)

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Next debate: Climate 'treaty' or 'agreement'?

The larger debate at the climate change negotiations, currently on in Bonn, that no one is yet picking up
but could soon come up seriously, is whether the 181 countries want a new climate treaty or do they want an agreement out of the protracted half-year long negotiations.
The issues for negotiations are divided into two large sets. What is to be done in the long-term, roughly by 2050, is taken up in one section, and what should be done in the short run -- under the existing Kyoto Protocol -- in the other.
The protocol, in its first phase of implementation from 2008-12 set targets for the rich countries to achieve in cutting their climate changing emissions. The on-going negotiations are about what cuts the industrialized countries should take in the second phase and what should be the duration of the second phase. India and other developing countries want a high enough target to make a difference in the atmosphere, while the industrialized countries are pushing for low enough targets that don't hurt their economies at the time of a recession (Source: Economic Times June 5)

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Climex Workshops

For many companies under the European Trading Scheme trading carbon is a very new activity. In order to provide these industries with an opportunity to familiarise themselves with the ins and outs of emission trading, Climex organises workshops on a regular basis.

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Successful “Green” Electricity Auction TNO

On 6 April 2009, Climex Energy Auction successfully auctioned a green electricity contract of 17 connections for TNO (Dutch Organisation for Applied Physical Research).

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Climex offers Members extended trading functionalities by introducing the Intermediary Function

Last March, Climex introduced a new release of the Climex Spot Trading Platform. Amongst others, the intermediary functionality was implemented on the Spot Platform.

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Meet us at Carbon Expo Barcelona

Climex will be present with a stand at Carbon Expo in Barcelona from 27 – 29 May 2009.

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5th Climex Master Class 1 October 2009; Register now!

For the 5th time in a row Climex will be organising the Climex Master Class, noted for providing an extensive market update on a range of subjects by experienced speakers.

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First Austrian EUA Auction Large Overbid on 16 March 2009

The first Austrian Spot Auction of 300,000 EUAs was conducted by Climex on 16 March 2009. The auction was divided into two auction formats, a Non-Competitve and a Competitve Auction.

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Climex Auctions Primary CDM Waste Heat Recovery Project

Pursuant to the successful auction 26 March, Climex will organise a similar auction on 25 May, this time auctioning a primary CDM Waste Heat Recovery Project from China.

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VER Registries Overview Now Available!

A number of Registries have gone live in the past months, which is a huge step forward for the Voluntary Carbon Market in terms of transparency, transferability and reliability.

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Post 2012 developments

The “carbon world” is watching the political development for post 2012 very carefully. Will there be a post 2012 Trading Scheme beyond the EU ETS with USA, India, Brasil and/or China or will there only be the EU trading emission rights while the USA supports technical solutions?

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Buyer successfully purchased 24.000 VERs in 1st ever ‘Reversed VER Auction’ on Climex

On 7 May 2009 Climex executed its first auction initiated by a buyer of VERs. Wagenplan, a Dutch car lease company, announced that it was looking to buy 24,000 issued VCS2007 VERs from renewable energy projects, which have to be delivered in the TZ1 Registry account of Wagenplan. The VERs are bought to voluntarily offset all kilometres driven by the clients of Wagenplan.

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What Will Cap-and-Trade Do To Employment?

As the US House gets ready for another rumble between energy-policy heavyweights today—Al Gore and Newt Gingrich are on the ticket—one big issue is emerging as the flashpoint of the whole debate over climate legislation: Is it a job-killer or a job-creator? Both, it turns out. Which is what makes the debate so acrimonious—both sides can be right and wrong in equal measure.
Take organized labor, a perfect illustration of climate policy’s deer-in-the-headlights effect. Unions and environmentalists have joined forces to push for climate legislation (and, not coincidentally, the union free-choice act) as a way to create green jobs. The Blue Green Alliance is running ads of steel workers touting the potential of cap-and-trade to resuscitate steel mill jobs that have disappeared (Source: Wall Stret Journal)

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China considers setting targets for carbon emissions

Government's decision could help negotiations on a Kyoto successor treaty in Copenhagen
The Chinese government is for the first time considering setting targets for carbon emissions, a significant development that could help negotiations on a Kyoto successor treaty at Copenhagen later this year, the Guardian has learned.
Su Wei, a leading figure in China's climate change negotiating team, said that officials were considering introducing a national target that would limit emissions relative to economic growth in the country's next five-year plan from 2011.
"It is an option. We can very easily translate our [existing] energy reduction targets to carbon dioxide limitation" said Su. "China hasn't reached the stage where we can reduce overall emissions, but we can reduce energy intensity and carbon intensity." (Source: Guardian)

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U.S. Plays Down Hopes At Climate Talks

U.S. negotiators tried to dampen expectations on Wednesday of rapid progress on climate change after President Barack Obama vowed new U.S. leadership, on the closing day of U.N. talks in Bonn.
The 11-day meeting was the latest in a series meant to help prepare a deal to be sealed in Copenhagen in December to replace or extend the Kyoto Protocol after 2012.
Obama vowed U.S. leadership on climate change on a trip to Europe last week, raising hopes.
But in Bonn, Germany, the reality was complex negotiations with fewer than nine months left to sign a global deal to curb man-made climate change, and U.S. officials stressed how hard the job was.
"The negotiations are just starting, this is a complicated subject," said the new U.S. deputy special envoy for climate change, Jonathan Pershing (Source: Reuters)

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Mexico President Wants Global "Green Fund" To Fight Climate Change

The world needs a "green fund" to help tackle climate change, providing financial rewards to countries for efforts to reduce carbon emissions and other measures to support the environment, Mexican President Felipe Calderon said Wednesday. Discussions to date had been too focussed on horse trading over specific goals for carbon emissions, he said.
"We are losing a lot of time in that discussion," Calderon said, adding that Mexico is ready to commit to any goals that can create a consensus. "There is no sense we use another five years discussing what would be the right goals."Calderon said financial incentives are the best way to change attitudes.
"That is the reason why Mexico is proposing to create a green fund, a fund against climate change," he said. The fund would be financed through a system of quotas, similar to institutions like the International Monetary Fund, which would dictate how much each country paid into the pot, he said. (Source:DowJones)

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Obama calls major economies climate change meeting

President Barack Obama is launching a "Major Economies Forum on Energy and Climate" to help facilitate a U.N. agreement on global warming, the White House said on Saturday.
Leaders from 16 major economies have been invited to a preparatory session on April 27 and 28 in Washington to "help generate the political leadership necessary" to achieve an international pact to cut greenhouse gas emissions later this year, it said in a statement. It said the meeting would spur dialogue among developed and developing countries about the issue, "and advance the exploration of concrete initiatives and joint ventures that increase the supply of clean energy while cutting greenhouse gas emissions."
Obama wants to cut U.S. emissions by roughly 15 percent back to 1990 levels by 2020 -- tougher than Bush, who saw U.S. emissions peaking as late as 2025.

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Climate Meeting Bonn: world tough on 2050 CO2 cuts

OSLO - Governments broadly support tough 2050 goals for cuts in greenhouse gas emissions but are split on how to share out the reductions, according to a new guide to negotiators of a new UN climate pact. A document to be presented to UN climate talks in Bonn from March 29-April 8 narrows down a list of ideas for fighting global warming in a new treaty due to be agreed in December to about 30 pages from 120 in a text late last year.
"It shows that there's an awful lot still to be done. And it also shows what needs to be done," Yvo de Boer, head of the UN Climate Change Secretariat, told Reuters on Monday of the text by Michael Zammit Cutajar, chairman of a UN negotiating group. "It's a good leg-up to a much more precise agenda focusing on filling in the gaps," de Boer said.

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End of US climate denial: US EPA finds CO2 danger for health

WASHINGTON - The US Environmental Protection Agency found that climate-warming greenhouse gases, including carbon dioxide, pose a danger to human health and welfare, a White House website showed on Monday. EPA's proposed "endangerment finding," sent to the Obama administration on Friday, could pave the way for US limits on emissions that spur climate change.
The substance of the proposal was not immediately made public, but the White House Office of Management and Budget showed EPA sent a proposed rule for an "Endangerment Finding for Greenhouse Gases under the Clean Air Act." An endangerment finding is essential for the US government to regulate climate-warming emissions like carbon dioxide under the Clean Air Act. (Reuters News)

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Climex, the fastest growing Carbon Exchange

At the day of publication of this Newsletter Climex has 120 registered participants. We are very pleased to welcome our 120th member!

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Meet us at Carbon Markets Insights Copenhagen

Climex will be present with a stand at the Carbon Markets Insights conference in Copenhagen, Denmark on 17 and 18 March 2009.

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VER Auction of 35,541 VCS2007 VERs on 5 March

A total of 35,541 VERs with the VCS2007 Standard from an Energy Savings Project in New Zealand will be on offer in a VER Auction on the Climex Exchange. These VERs stem from 1 January until 30 June 2007.

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New, innovative financial mechanism needed to combat climate change

Read this one and other blogs on the Climate Thinkers Blog in preparation of the Climate Summit in Kopenhagen later this year.

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Instant Clearing & Settlement on Climex

Climex now offers fast clearing & settlement services to its participants; This means money and rights are always readily available for trading on Climex or to transfer into and from Climex.

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Climex Workshops

For many companies under the European Trading Scheme trading carbon is a very new activity. In order to provide these industries with an opportunity to familiarise themselves with the ins and outs of emission trading, Climex organises workshops on a regular basis.

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The Revenge of the Spot Market

In our October newsletter, we discussed the problems the Spot market faced due to delayed allocation. Now, since the CITL-ITL went live in Q3 of last year, there is a continuous
increase in volumes traded on the spot market and an increase of the market share on the exchanges of up to 40% of the total liquidity.

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Successful Energy Auction COA

On 4 November 2008, Climex Energy Auction successfully auctioned the gas- and electricity contract for 750 connections of the COA (Central Agency Relief Asylum Seekers).

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What is carbon capture and storage (CCS)?

See the interactive depiction of the technologies involved in CCS, by McKinsey & Company.

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Today's headlines

* Lieberman to introduce climate bill: source
* US carbon company buys Canadian verifier
* European ETS commentary: EUAs fall sharply in afternoon
* EPA should not regulate carbon: US Chamber
* New CDM projects to produce fewer credits
* Czech president urges EU to abandon "useless" climate policies
* Spanish water levels maintained
* South African feed-in tariff to allow carbon revenue
* Coming year ‘crucial’ for CDM, observers say
* UK utility free to maximise coal-fired power generation
* Midday market update: Carbon creeps higher
* EUAs extend gains amid firm energy commodities

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UN Climate Summit lays foundation for Copenhagen

See press release Climate Change secretariat

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EU hails climate deal as example for the world (Poznan/Brussels)

See article AP

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UN climate talks in Poland, praise for "ambitious" Obama

POZNAN, Poland (Reuters) - U.N. climate talks open in Poland on Monday overshadowed by a global economic slowdown but with U.N. praise for "ambitious" goals by U.S. President-elect Barack Obama for fighting global warming.
About 10,600 delegates from 186 governments, businesses and environmental groups meet in Poznan for the Dec 1-12 talks halfway through a two-year push to agree a new climate treaty in Copenhagen at the end of 2009 to succeed the Kyoto Protocol.
"It will be an incredible challenge" to reach such a complex accord within a year when the world is struggling with the worst financial crisis since the 1930s, said Yvo de Boer, head of the U.N. Climate Change Secretariat.

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UN Publishes Draft Proposal Ahead of Climate Meet

LONDON - The United Nations published a report on Thursday to help lawmakers meeting at an upcoming UN climate summit to move closer to sealing a new agreement to confront potentially devastating global warming.
The draft report assembled proposals presented by countries and observer organizations since last year's UN talks in Bali, Indonesia, on what a new treaty should feature. The next round of talks will be held in Poznan, Poland from December 1-12.
In the UN report, the European Union and other nations proposed limiting global average temperature increases to 2 degrees Celsius through measures such as emissions trading and technology transfer (Source Reuters)

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Early signals of US reengaging in climate action

Broad Schwarzenegger Emissions Pledge Caps Summit - Impatient with the pace of national governments in fighting global climate change, 13 US state governors joined counterparts from six other countries on Wednesday to pledge cooperation to curtail Earth-warming greenhouse gas emissions.
The declaration, issued by California Gov. Arnold Schwarzenegger, capped a two-day climate change summit he hosted in Beverly Hills attended by more than 800 environmental officials and politicians from regional, state and provincial governments from a total of 19 nations.
"By joining forces with our partners around the world, we will make the tough decisions to restore our planet's health," Schwarzenegger said in addressing the conference.
The meeting opened on Tuesday with a videotaped message from US President-elect Barack Obama vowing to "engage vigorously" in international climate change talks once he takes office and to take steps to slash US greenhouse emissions by more than 80 percent by mid-century. (Source: Reuters)

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Other News

After 7 years of fruitful dedication, Tames Rietdijk has decided to leave Climex and pursue his ambitions elsewhere.

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Dailly Settlement on Climex from 30 October 2008 on

Climex will settle all transactions carried out on working days before 11.00 hours (CET), on the very same day, before 15.00 hours (CET). Climex will make money available immediately and rights transferred into Climex as soon as the money or rights are credited to the Climex accounts and Climex received a telephone request by the member.

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EU Directive Insecurities Concerning Phase III of the EU ETS

The lack of clear decisions of the European Commission (EC) and the European Parliament (EP) on the legal framework for phase III of the Emissions Trading Scheme have significant influence on prices of phase II.

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Climex Welcomed 105th Member in October!

We are very pleased to announce we welcomed our 105th member last month! In the previous newsletter the counter was on 91 registered participants and we promised to reward a wake-up light to our 100th member.

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Dutch Government purchases Electricity and GoO’s through Climex Energy Auction

Electricity Auction
On 23 September 2008, Climex Energy Auction auctioned the 2010 and 2011 electricity contract for the Dutch Ministry for Housing, Regional Development and the Environment, with an option on the electricity supply for 2012 and 2013. During the one-hour auction, five interested suppliers competed on price. After the auction, the contract was awarded to the supplier who offered the best price.

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Italian Backlash Threatens EU's Climate Fight

NAPLES/BRUSSELS - Italian Prime Minister Silvio Berlusconi warned on Tuesday that 10 other EU nations backed his efforts to block an EU climate plan, prompting further doubts over European action on global warming.
Berlusconi shocked other European Union leaders at a summit last week by threatening to veto an EU proposal to cut carbon dioxide emissions by a fifth by 2020 unless it was adapted to protect Italian industry. The move added Italy's weight to a group of former communist nations that believe the curbs will make their coal-powered industry uncompetitive, particularly with economists now predicting a sharp slow-down in the world economy.
"It cannot be us, who have the biggest manufacturing economy in Europe along with Germany, to take on the costs that would depress our economy, our automotive sector, compared with other economies, in a moment of crisis," Berlusconi said, winning applause from business people at a conference in Naples. (Source: Reuters)

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Stern sees climate positives in credit crisis

The financial crisis and a wider economic slowdown will be 'on balance' positive for efforts to tackle climate change, and for the prospects for an international agreement, according to Nicholas Stern.
'The pluses outweigh the minuses,' said Stern, the author of the influential Stern Review on Climate Change, speaking at the launch on Monday of an academic research initiative involving Munich Re and the London School of Economics (LSE).
He said that the current financial crisis was '10, 15, 20 years in the making, it was possible to understand how it was building up. Climate change is very similar. The current crisis is showing us the consequences of ignoring our long-term actions.' (Source: Environmental Finance)

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EnergieKeuze (Climex Energy Auction) starts GoO-auction for Dutch Government

martijn.ophuis@climex.com
Climex Energy Auction started the procedure to purchase Guarantees of Origin for the Dutch Government. The Ministry of Defence will buy, on behalf of the entire National Government, Guarantees of Origin (GoOs), in order to compensate 75% of the total energy consumption of this National Government. In 2009, this total will rise to up to more than 80%. This way the Government’s aim drawn up several years ago, with regard to sustainability, will be met in particular concerning energy consumption.

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Dutch Venue Makes Clubbing Environmentally Friendly

Picture: Geekologie

ROTTERDAM - A club where dancers generate power to light the floor, drinks come in recyclable cups and toilets flush with rain water opened in the Netherlands on Thursday, hoping to lure environmentally conscious clubbers. Rotterdam's WATT, which is designed to save about 30 percent on energy and carbon emissions and 50 percent on water and waste compared to other nightclubs, has included sustainable elements into everything from its architecture to its cafe menus. "We want to show that sustainability can be integrated into lifestyles, and integrating it into something fun shows that sustainability can be fun," said Michel Smit of Sustainable DanceClub (SDC) consultants, who helped develop the concept. Source: Reuters.

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US Feds Grapple with Forest Carbon Offsets

The United States looks set to implement a cap-and-trade regime for greenhouse gas emissions regardless of whether the next President is named Obama or McCain – and all signs point to a significant role for forestry offsets. The Ecosystem Marketplace has been asking project developers for their take on the debate.
Senate Republicans shot down the Boxer-Lieberman-Warner Climate Security Act in June, but remnants of that ambitious bill – which described an intricate system for coordinating the reduction of greenhouse gas emissions to a cap 70 percent below 2005 levels by the year 2050 – are still kicking around both chambers of Congress, along with scores of other proposals expected to show up in bills later this year.
Several proposals visible so far include forestry offsets – usually in a form compatible with Reduced Emissions from Deforestation and Degradation (REDD). Although the debate over foresty offsets isn't likely to heat up until after the November elections, several trends are already evident. ()bron Ecocsystem Market Place)

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EU Lawmakers Urge Caution on Bloc's CO2 Curbs

The European Union's main tool against global warming could be altered to lighten the impact on heavy industry and reduce the chances of the EU tightening its CO2 reduction goals, a document seen by Reuters shows.The moves aimed at protecting EU industry from overseas competitors have alarmed environmentalists, who already accuse lawmakers of weakening curbs on emissions from cars and aviation.
As part of its drive to lead the world in fighting climate change, the 27-country EU has committed to cutting carbon dioxide emissions by one fifth by 2020, compared to 1990 levels.
It is also considering increasing the cut to 30 percent if big countries such as China and the United States commit to their own reductions.
But members of the European Parliament's influential industry committee are mulling an amendment that would demand a full impact assessment before cutting beyond 20 percent (surce: Reuters)

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Ghana climate talks advance on saving forests

ACCRA, Aug 27 (Reuters) - The world has made progress on ways to save tropical forests and other elements of a planned U.N. pact to slow global warming, the U.N.'s top climate official said as 160-nation talks in Ghana ended on Wednesday.
"We are still on track, the process has speeded up," Yvo de Boer, head of the U.N. Climate Change Secretariat, said of the Aug. 21-27 negotiations, one of a series meant to end in Copenhagen in 2009 with a new U.N. pact."There is a growing sense of urgency," he told a news conference after the meeting of up to 1,500 delegates in Accra.
He said countries expressed widening commitment to plans to safeguard fast-disappearing tropical forests. Burning forests to clear land for farming emits about 20 percent of greenhouse gases from human activities (source: Reuters)

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"Avoiding Deforestation to Limit Climate Change 'Cheap and Practical'

COLUMBUS, Ohio, July 23, 2008 (ENS) - Wealthy nations could help reduce greenhouse gas emissions globally by paying landowners in developing nations not to clear forested land for agriculture, finds a new study by a research team from Austria, Brazil and the United States.
The research attaches estimated dollar amounts to each metric ton of carbon that could be saved through avoided deforestation in Africa, Central and South America, and Southeast Asia.
Governments willing to spend a total of about $1 billion annually could prevent the emission of roughly half a billion metric tons of the greenhouse gas carbon dioxide a year for the next 25 years. Source: Environment News Service

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Don't Offset CO2, Retire Them, via Climex

At the age of 25, Dan Lewer is going into retirement -- carbon emissions retirement that is. Lewer is co-founder of a new online carbon offset company called Carbon Retirement, which launched on July 15.
Carbon Retirement offers consumers and companies a novel approach to offsetting their carbon footprint by letting them dip into the European Union's Emissions Trading Scheme.
Now in its second phase running from 2008-2012, the EU scheme sets an emissions cap for its heavy industry and allocates a fixed number of permits, called EUAs, each allowing the bearer to pollute or trade the equivalent of one tonne of carbon dioxide (CO2). After an offset purchase is made on its website, Carbon Retirement buys the corresponding EUAs on the spot market, from CO2 exchanges like EXAA in Austria and Climex in the Netherlands. Spot EUAs currently trade around 24.50 euros (US$38.93) a tonne (Source: Reuters)

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Schwarzenegger slams Bush administration on global warming

California Governor Arnold Schwarzenegger said the Bush administration's decision to delay a decision on regulating greenhouse gases showed that it did not believe in global warming. Schwarzenegger, in an interview with ABC television broadcast Sunday, said it would have been insincere for the administration to take action on the harmful emissions with only six months left in George W. Bush's presidency.
"Well, to be honest with you, if they would have done something this year, I would have thought it was bogus anyway... because you don't change global warming and you don't really have an effect by doing something six months before you leave office," he told ABC on Friday.
Schwarzenegger spoke on the day the US Environmental Protection Agency (EPA) issued a report offering no new action against emissions and calling for 120 days of public comment, essentially leaving any decision to the next administration.

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German Power, Oil - what fuels CO2 prices?

During the last weeks we saw a steady increase in CO2- prices. EUA Dec.08 increased from about 25.20€/t in May by approx. 4.0€ to 29.20€/t until 1 July. During that phase we saw the Dec12 break the 33€/t and even the 34€/t. The bullish trend was also seen in the whole energy market, especially for Crude oil, NBP gas and electricity prices. During the last weeks it has been observed, that the EUA prices were correlating stronger with the oil prices, than with the German power prices.

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Climex standpoint towards HFC and large Hydro

Recently Climex has received quite a number of questions with a view to our standpoint towards HFC[1] and large scale Hydro projects. Therefore we would like to explain our policy and procedures with regard to CER Spot trading:

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Are you our 100th member??????

At the day of publication of this Newsletter Climex has 91 registered participants. If you have not joined us yet, we would encourage you to ‘wake up’ and do so now to be part of the fastest growing Carbon Exchange. We are on our way to welcome our 100th member. Of course, we will not let this go by unnoticed and the 100th member will receive a special welcome gift; a Philips WAKE UP LIGHT.

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Climex Energy Auction prepares REC auction for Dutch Government

Climex Energy Auction started to prepare for the procedure to purchase guaranties of Origin for the Dutch Government. The Ministry of Defence will buy, on behalf of the entire National Government, Guarantees of Origin (GoOs), in order to compensate 75% of the total energy consumption of this National Government. In 2009, this total will rise to up to more than 80%. This way the Government’s aim drawn up several years ago, with regard to sustainability, will be met in particular concerning energy consumption.

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US Climate Bill Dies; Hope for 2009

A US carbon-capping bill aimed at curbing climate change died on Friday in the Senate but its supporters looked to the next president to enact a global warming law as early as 2009. The bill aimed to cut total US global warming emissions by 66 percent by 2050. Opponents said it would cost jobs and raise fuel prices in an already pinched American economy.
Far from being discouraged, Sen. Joe Lieberman said international observers would be gratified that the measure got support from a majority in the Senate, including presumptive presidential nominees John McCain and Barack Obama. "I think people around the world are going to be greatly encouraged by the fact that 54 members of the US Senate are saying they want to support a real response to global warming," Lieberman, the independent senator from Connecticut who sponsored the bill, said after the measure ended with a procedural vote.

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McCain Pledges To Combat Climate Change

PORTLAND, Ore. - Republican John McCain, differing sharply with President George W. Bush, said on Monday he would pursue mandatory US curbs on greenhouse gas emissions if he wins the White House in November. The Arizona senator vowed to take the lead in combating global climate change, seek international accords to reduce greenhouse gas emissions and offer an incentive system to make businesses in the United States cleaner. (Reuters)

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U.N. sees world climate change deal in 2009

MADRID (Reuters) - The world can reach a significant new climate change pact by the end of 2009 if current talks keep up their momentum, the head of the United Nations climate panel said on Sunday.
more stories like this. The United Nations began negotiations on a sweeping new pact in March after governments agreed last year to work out a treaty to succeed the Kyoto Protocol by the end of next year.
"If this momentum continues you will get an agreement that is not too full of compromises," said Rajendra Pachauri, head of the U.N. Intergovernmental Panel for Climate Change, during a seminar at the Asian Development Bank annual meeting in Madrid. Without a deal to cap greenhouse gas emissions around 2015, then halve them by 2050, the world will face ever more droughts, heatwaves, floods and rising seas, according to the U.N. panel (Reuters)

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Bush gets mixed reviews at climate change summit

PARIS (AP) A new U.S. call for curbing greenhouse gas emissions shook up climate talks Thursday in Paris among the world's biggest polluters. While some welcomed President Bush's gesture, others called it too little, too late.
Bush said Wednesday that the United States must stop the growth in its emissions of greenhouse gases by 2025, acknowledging the need to head off serious climate change. It was the first time he had set a specific target date for U.S. climate pollution reductions. He said he was ready to commit to a binding international agreement on long-term reductions as long as other polluting countries, such as China, do the same.
In Paris, South African Environment Minister Marthinus van Schalkwyk said Bush's speech "is a big complicating factor," throwing off the agenda for talks on Thursday and Friday in the French capital.

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Bangkok: UN climate talks agree on 2 yr. agenda

[AP] Climate negotiators agreed Saturday on an ambitious agenda for talks they hope will lead to a global warming pact, overcoming a dispute between Japan and developing countries on how to cut greenhouse gas emissions. The schedule came after five days of marathon talks in Bangkok and requires negotiators to settle contentious issues, including how countries will cut emissions and how rich nations will help the poor adapt to climate change.
"Not only do we have the certainty that critical issues will be addressed this year, we now have the bite-sized chunks which will allow us to negotiate in an effective manner," U.N. climate chief Yvo de Boer said (see: http://www.unfccc.int )

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Talks get off to Bangkok climate change talkgood start

DPA; Bangkok - UN-sponsored climate change talks have gotten off to a good start in Bangkok, although beset by nervousness after the Bali breakthrough last December, the UN's top climate change official said Tuesday. "I am very encouraged by the way things are going," said Yvo de Boer, executive secretary of the United Nations Framework Convention on Climate Change, which is hosting a five-day meeting on climate change in Bangkok, which has drawn 1,180 delegates from 163 countries.

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'Kyoto II' Climate Talks Open In Bangkok

BANGKOK - The first formal talks in the long process of drawing up a replacement for the Kyoto climate change pact opened in Thailand on Monday with appeals to a common human purpose to defeat global warming.

"The world is waiting for a solution that is long term and economically viable," U.N. Secretary-General Ban Ki Moon said in a video address to the 1,100 delegates from 163 nations gathered in Bangkok.

The week-long meeting stems from a breakthrough agreement in Bali last year to start negotiations to replace Kyoto, which only binds 37 rich nations to cut emissions of greenhouse gases by an average of five percent from 1990 levels by 2012.

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18.03.08 McCain highlights climate change as key transatlantic priority

Ahead of his visit to London, Republican presidential candidate John McCain urged Europe and the US to work together on climate change in a Financial Times editorial Tuesday.
The Arizona Senator singled out climate change as one of the top priorities on which Americans and Europeans should focus, behind terrorism and the trend towards autocracy in Russia.
His op-ed, entitled “America must be a good role model,” affirms his intention to for the US to engage in the international process to agree on a successor treaty to the Kyoto protocol.
“I have introduced legislation that would require a reduction in greenhouse gas emissions, but that is just a start. We need a successor to Kyoto, a cap-and-trade system that delivers the necessary environmental impact in an economically responsible manner,” McCain wrote. (Source: Pointcarbon)

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Blair Says Global Climate Talks Need New Initiative

MAKUHARI, Japan - Former British prime minister Tony Blair urged the world's top greenhouse gas emitters on Saturday to launch a revolution to fight climate change and said he'll work to sell a new global framework to slash carbon emissions. Blair told a gathering of G20 nations, ranging from top carbon emitter the United States to Indonesia and South Africa, that the call to action was clear and urgent and believed part of the solution was a renaissance for nuclear power. "We have reached the critical moment of decision on climate change. There are few, if any, genuine doubters left," Blair told G20 energy and environment ministers in Chiba, near Tokyo.
"If the average person in the United States is say, to emit per capita, one tenth of what they do today and those in Britain or Japan one fifth, we're not talking of adjustment, we're talking about a revolution," he told delegates.The average American emits the equivalent of about 24 tonnes of carbon dioxide a year. In China the figure is about four tonnes. (REUTERS)

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Meet us at Point Carbon and/or Carbon Expo

Climex will be present at Point Carbon and Carbon Expo in the first half of 2008 to provide interested parties with the opportunity to meet us in person, see the Climex Platforms during demo sessions, ask questions and discuss the possibilities of the Climex. Please look up our stand.
Do feel free to schedule a meeting with us during one of these conferences to have all your questions answered.
11 – 13 March 2008: Point Carbon in Copenhagen, Denmark
7 – 9 May 2008: Carbon Expo in Cologne, Germany

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About Climex and New Values

New Values is the owner of Climex exchange. New Values, founded in 2003 and based in The Netherlands, is a flexible organisation backed by a network of partners all over Europe. New Values' shareholders are Rabobank and TenneT, who started New Values on request of a group of industries who wanted an efficient, low cost and transparent way to trade among each other without being dependent on intermediary parties and without having to incur extra costs.

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Auctions

Climex exchange regularly conducts CER and VER auctions for validated CDM and voluntary projects. This initiative was set up to jumpstart the CER and VER trading market. The goal is to create a cross-continental CER and VER market linking buyers of CERs and VERs throughout the world with project developers.

For upcoming auction dates, please contact our Customer Service Desk.

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Why ÖEKV chose Climex for its members

The Österreichischer Energie Kkonsumenten -Verband (ÖOEKV) is an organisation representing the energy intensive industry in Austria with over four hundred members and more than 59 years of experience in energy consulting for trade, industry, service enterprises and supporting experts in federal organisations. We work as an independent consultant in the fields of energy efficiency and planning, procurement of electricity, gas, heating and CO2-EUAs for Austrian and international companies and institutions.

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Climex continuous spot prices available on Reuters Interactive

Climex is the fastest growing spot exchange, showing the best results during several months and in other months having the second largest liquidity. It is now possible to follow the prices and volumes on Climex, almost real-time on Reuters Interactive. Access to Reuters Interactive is freely available, after registration.

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Role and Status International Transaction Log

The function of the International Transaction Log (ITL) is to verify transactions proposed by registries to ensure they are consistent with the rules agreed under the Kyoto Protocol. Each registry sends transaction proposals to the ITL, which checks each proposal and returns to the registry its approval or rejection. Once approved, registries complete the transaction. In the event that a transaction is rejected, the ITL sends a code indicating which ITL check has failed and the registry terminates the transaction.

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Availability second phase EUAs

Although Climex is pleased with the achievement of having traded second phase EUAs the on the first day they became available, the second phase does not only have a positive outlook. Only Austria and Denmark have so far met the deadline on Thursday 28 February 2008 to allocate permits to emit carbon dioxide to their industry.

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European Commission: funding CCS a problem

On 21 February, EU Energy Commissioner Andris Piebalgs reportedly told a group of representatives for 14 major energy sector firms that, until 2013 and possibly beyond, "there is no money" in the EU budget for supporting carbon capture and storage (CCS) projects.
Discussions between EU policymakers and energy sector stakeholders reveal sharp differences about how, and by whom, expensive CO2 capture and other 'green' technologies should be financed. On 22 November 2007, the Commission presented its Strategic Energy Technology (SET) plan, along with a technology map, designed to invigorate the development of 'clean' technologies in the EU. A communication on how the SET Plan will be financed is expected before the end of 2008. Source: Euractive

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E.ON ; public "misinformed" on energy and climate

(Montel Powernews) - The public’s lack of understanding of energy matters is a key hindrance in the development of climate goals, according to chief executive of E.ON, Wulf Bernotat.Speaking at an industry event in Essen on Tuesday, he said that "the average citizen understands very little apart from the fact that climate change is important". Bernotat referred to public opinions polls which revealed that 96 per cent of those asked were in favour of solar power, 47 per cent for wind, 24 for nuclear and 7 per cent for coal. "This is the opposite of what we actually need," he said, lamenting the level of misinformation amongst the population in Germany.

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EU finance ministers urge caution on cost of climate plan

The European Union's move to a low-carbon economy to fight climate change must not harm its competitiveness, the bloc's finance ministers said on Tuesday. The executive European Commission last month proposed an ambitious package of measures to help the 27-nation bloc cut greenhouse gas emissions blamed for global warming, partly by using more green energy sources.
"The Council supports the leading role of the EU when it comes to energy and climate change. However we have to make sure this transfer to a low carbon economy will be carried out in a sustainable manner so economic growth is sustainable and public finances do not suffer too much," Andrej Bajuk, finance minister of EU president Slovenia, told a news conference.

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New Values Master Class 2008

New Values kindly invites you to the 4th edition of the Climex Master Class on 14 February 2008 in Pakhuis de Zwijger in Amsterdam, The Netherlands. New Values is the owner of Climex Exchange. The Climex Master Class is free of charge.

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Netherlands Has Another Record Warm Year in 2007

AMSTERDAM - The average temperature in the Netherlands in 2007 matched 2006, the warmest year in 300 years, and the Dutch meteorological institute said it was a sign of global warming. The average temperature in 2007 was 11.2 degrees Celsius (52.16F) which, along with 2006, is highest average since Dutch temperatures were first measured in 1706, the KNMI institute said on Friday. The normal annual average is 9.8 degrees. "The most important reason for the recent high temperatures is the slow global warming of the climate," KNMI said. Dutch temperature records are among the oldest in the world. Eight out of the ten warmest years in the Netherlands were after 1988. (Reuters)

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Italy cuts CO2 allocation to thermal power plants, drops auctioning

(Pointcarbon, Oslo)Italy has published a new draft national allocation plan for the second trading period of the EU emissions trading scheme, proposing to cut annual allocation to thermal power plants 9.5 million EUAs per year and cancelling plans to auction 12 million allowances per year, a government official said on Wednesday.

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All nations must join climate fight: Bali draft

All nations must do more to fight climate change, and rich countries must make deep cuts in greenhouse gas emissions to avoid the worst impacts, a draft proposal at United Nations talks said on Saturday.
The four-page draft (see here) written by delegates from Indonesia, Australia and South Africa as an unofficial guide for delegates from 190 nations at the December 3-14 talks, said developing nations should at least brake rising emissions as part of a new pact. It said there was "unequivocal scientific evidence" that "preventing the worst impacts of climate change will require (developed nations) to reduce emissions in a range of 25-40 percent below 1990 levels by 2020."

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Australia ratifies Kyoto protocol

(pointcarbon, Oslo)Australian Prime Minister Kevin Rudd has today signed an order to ratify the Kyoto protocol, meaning the country will be included in the 1997 treaty before the end of March next year.

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China Wary on International Climate Goals - Official

BEIJING - Beijing is reluctant to set itself international targets to fight climate change without financial assistance from industrialised countries, a senior climate change official, Gao Guangsheng, said on Thursday. Gao was speaking days ahead of talks in Bali, Indonesia, expected to launch two years of formal negotiations to extend or replace the Kyoto Protocol on global warming after 2012.
He was scathing about industrialised countries' limited efforts to help developing nations cut greenhouse gas emissions, despite commitments under the UN's convention on climate change to share clean energy technologies.
That had made it more difficult for China to curb emissions of carbon dioxide, the main greenhouse gas blamed for contributing to climate change, he said. "Only when I know what technology I have can I calculate how much I can reduce emissions; only when I have funding assurances," said Gao, director general of climate change at the National Development and Reform Commission.

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European commission denies double counting claims

(pointcarbon, Oslo)The European commission today denied reports that there could be double counting of more than 18 million EU allowances for the years 2005 and 2006.

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Kyoto, emissions trading key in Australia election

(pointcarbon, Oslo)Kyoto ratification or not is one of the issues at stake in the federal election Saturday, when Australians will choose between the Liberal-led coalition government and the opposition Labor party.

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Status International Transaction Log

According to recent UNFCCC plans the ITL was supposed to be ready to connect to the National Registries of Japan, New Zealand and Switzerland by Mid November. So far, only the link between Japan and the ITL is operational.

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Climex Exchange Improves External Distribution of Market Data

From the start of its operations the Climex Exchange has been actively trying to create a level playing field for all participants in the carbon market, both large and small.

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uN: Nations on course to meet Kyoto targets

Targets listed in the Kyoto protocol are likely to be met, according to new data disclosed Tuesday by the United Nations Framework Convention on Climate Change, see here. Greenhouse gas emissions by industrial nations that signed and ratified the protocol are likely to decease 11 per cent by 2012 compared to 1990, UNFCC executive secretary Yvo de Boer said. The Kyoto Protocol commits industrialized countries to a 5 per cent reduction target from 2008-2012 compared to 1990. But while the European Union as a whole is projected to achieve its objective making use of Kyoto mechanisms such as emissions trading, other Kyoto parties are expected to see an upward trend in emissions, the Bonn-based UNFCC said.

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EU plans inclusion of CO2 storage in cap-and-trade scheme: report

(pointcarbon, Oslo)European companies pumping carbon dioxide (CO2) underground instead of into the air will be able to count carbon stored as a legitimate reduction in the regional cap-and-trade market, according to EU commission plans to be put forward next year.

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Climate Experts Agree UN Blueprint for Action

VALENCIA, Spain - Climate experts (IPCC) agreed a UN blueprint on Friday for fighting global warming that warns that governments only have a few years left to avert the worst impacts. Governments have a wide range of tools -- higher taxes on emissions, regulations, tradeable permits and research. An effective carbon price could help cuts. See press release and the IPCC Policy Makers Summary.
Emissions of greenhouse gases would have to peak by 2015 to limit global temperature rises to 2.0 to 2.4 Celsius over pre-industrial times, the strictest goal assessed. The costs of fighting warming will range from less than 0.12 percent of global gross domestic product (GDP) per year for the most stringent scenarios until 2030 to less than 0.06 percent for a less tough goal. In the most costly case, that means a loss of GDP by 2030 of less than 3 percent.

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Senators to Bali Climate Summit for Post 2012 Agreement

Senators Boxer and Kerry will lead a bipartisan delegation of US Senators to the December Climate Summit on Bali. Kerry announced this at the event of the Council on Foreign Relations Oct 29. On his website Kerry announces an alternative Post Kyoto aproach, besides the restricted approach the current Bush admistration offers. He wants the U.S. to Lead, Engage Developing Nations in Solutions. "I don’t have to emphasize just how much we’ve been set back by 8 years outside the international system. It is crucial that our delegation to Bali send a clear message to the world that America is finally serious about fixing climate change. We’re ready to end the era of obstruction and start leading by example.".
The objective of the Senators delegation to the UN meeting is in my view twofold: 1. to control the US delegation that they do not obstruct the strong ambition of the whole US Congress to tackle climate change and to ensure that a future US cap and trade system goes hand-in-hand with international caps, includig developing countries' involvement. 2. to offer the world an alternative discussion partner. Under the UN system treaties can only be made by official governments, the Bush administation. But in Bali countries can learn that a future administration will accept international CO2 caps.

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27,150 VERs sold in Climex Auction

19 October 2007

Press Release, for immediate release

27,150 VERs sold in Climex Auction

The first European VER auction was held yesterday on the Climex Auction Platform, operated by New Values. 340,601 VERs generated in vintages ranging from 1999 to 2006 and from three projects, were on offer and 27,150 VERs from 2 projects were sold. The sellers chose not to disclose the price.

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27,150 VERs sold in Climex Auction

19 October 2007

Press Release, for immediate release

27,150 VERs sold in Climex Auction

The first European VER auction was held yesterday on the Climex Auction Platform, operated by New Values. 340,601 VERs generated in vintages ranging from 1999 to 2006 and from three projects, were on offer and 27,150 VERs from 2 projects were sold. The sellers chose not to disclose the price.

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CO2 Caps under America Climate Security Act 2007

Yesterday, Senators Joe Lieberman (I-CT) and John Warner (R-VA) introduced a comprehensive global warming bill (see here) that sets the stage for Senate action this fall. The America Climate Security Act (ACSA) would establish a mandatory cap to dramatically reduce global warming pollution from the electric utility, oil and manufacturing industries. Interestingly is that it creates a possible link to the global carbon market because it has provisions on international emissions trading and on international forests as offets for caps for companies. It is to reduce greenhouse gas emissions substantially enough between 2007 and 2050. The cap requires a 70% reduction from these covered sources. The sponsors estimate that the bill's energy- efficiency policies, when combined with the cap, would produce overall reductions of up to 63% compared to 2005 levels.

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US Senate leaders promote mandatory CO2 caps

Washington, D.C. - In advance of a global warming conference this week, Speaker Nancy Pelosi and Senate Majority Leader Harry Reid released the following letter to President Bush today, calling on him to announce his support for mandatory national and international limits on the pollution that causes global warming.
"Our legacy to the many generations that will follow us will depend upon how we handle the climate crisis and whether as a nation and as a world community we can take real action in time to avoid the worst effects of global warming," Pelosi and Reid wrote.

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Doubts in EU on CO2 storage

Respondents to a consultation on a proposed EU strategic energy technology (SET) plan have expressed doubts over the emissions-cutting potential of clean fossil fuel technologies such as carbon capture and storage. Consultation responses were released by the European commission on Wednesday.When asked to identify those technologies that could contribute most to meeting the EU's emission reduction target of 20-30 per cent by 2020, only 26 per cent of respondents pointed to sustainable fossil fuel technology. In contrast, nearly two-thirds underlined the potential of increased energy efficiency in buildings and transport towards meeting the 2020 goal [source; ends daily].

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All 552,000 EU Allowances sold in Lithuanian auction

Press Release, for immediate release

Vilnius, Budapest and Amsterdam, 10 September 2007

Today, Vertis Environmental Finance and New Values announce the successful execution of the Lithuanian auction of EU Allowances. A total of 552,000 EU Allowances (EUAs) were on offer in an electronic auction coordinated by Vertis Environmental Finance on the Climex Exchange. A total volume of 552,000 EUAs was transacted at a price of € 0.06 per tonne.

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Climate talks will test U.S. resolve

BERLIN (Reuters) - A climate meeting in Washington later this month will show whether the United States is really serious about curbing greenhouse gas emissions after years of playing down the problem, Germany's environment minister said. In an interview with Reuters, Sigmar Gabriel welcomed President George W. Bush's vow at a G8 summit in June to work with the United Nations to fight global warming, but said it was now time for Washington to take firmer steps. "The United States has a chance with this meeting to bring itself back into the international talks on climate change, talks from which it has long been absent," Gabriel said. "Now it will become clear whether the United States is really interested in binding agreements on reducing CO2 emissions. If they are, then this (meeting) can make a positive contribution."

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Vienna: U.S. praises developing nations' climate curbs!!

VIENNA, Aug 29 (Reuters) - The United States praised developing nations' efforts to curb greenhouse gases on Wednesday, a marked shift from its usual call for big emitters such as China and India to do more to fight
global warming.
Chief climate negotiator Harlan Watson also played down conflicts with the European Union over the U.N.'s Kyoto Protocol, saying there were more areas of agreement than disagreement between the two over global
warming policy (Reuters)

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Climate talks start on widening Kyoto to outsiders

VIENNA, Aug 27 (Reuters) - Climate negotiators from more than 150 nations sought a global deal beyond 2012 on Monday to widen the U.N.'s Kyoto Protocol to include outsiders such as the United States and China.
"Climate change is already a harsh reality, a massive obstacle to development," Austrian Environment Minister Josef Proell told the meeting in Vienna of more than 1,000 senior officials, activists and other experts. "Climate change is a huge challenge that can only be dealt with at a global level," he said. "We do not have much time."

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Point Carbon Connections, Thursday 13 September, 18:30 in Amsterdam

Point Carbon and the Climex Exchange, operated by New Values, invite you and a colleague to POINT CARBON CONNECTIONS, an informal drinks event for the carbon community.

For the first time in Amsterdam!
THURSDAY 13 SEPTEMBER, 18:30
Party Boat Odessa
Veemkade 259, 1019 CZ Amsterdam

Please let us know if you can attend by sending an email to carbonconnections@pointcarbon.com . Feel free to invite a colleague, however please advise us prior to the event as it is invitations only.

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Cows That Burp Less Seen Helping Climate Fight

LONDON - Manners aside, getting cows to burp less can help reduce global warming. Using modern plant-breeding methods to find new diets for cows that make them belch less is a way to reduce greenhouse gas emissions, scientists said on Monday. The key is developing new varieties of food that are easier for cattle to digest and also provide a proper balance of fibre, protein and sugar, said Michael Abberton, a scientist at the UK-based Institute of Grassland and Environmental Research. This could open up plant-based solutions as alternatives to reducing stock as farmers look for ways to cut methane emissions amid warming climates, he told a briefing on farming and climate change at London's Science Media Centre. He noted the average dairy cow belches out about 100 to 200 litres of methane each day, making diet changes a key potential factor in reducing this greenhouse gas. "There is a common misperception about how methane gets into the atmosphere," he said. "It is actually through belching rather than the other end."

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Exxon: concerns on cap-and-trade, but climate changes

Exxon Adjusts Its Views, But Retains Doubts; Environmental campaigners love to hate Exxon Mobil, depicting the world's largest publicly traded oil company as a dinosaur, stuck in denial about the impact of rising energy consumption on the air, land and climate. While its rivals have buffed their public images and engaged in debate over greenhouse gas emissions, Exxon has been seen as evasive, even dismissive. There was always an element of caricature in that depiction, but as long as doubts remained, Exxon was keen to air them. Chief Executive Rex Tillerson is now striking a very different tone, echoing the calls for action on climate change. The response must be pragmatic, but Exxon is no longer equivocating about the evidence or the need to act (Copyright © 2007 Energy Intelligence Group, Inc.), July 2, 2007

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Will Emission Trading survive the first period?

‘Will Emission Trading survive the first period?’ was the theme of the 2007 New Values Master Class in February of this year. Speakers from McKinsey, Barclays, the European Commission and KNMI (the Royal Dutch National Weather Service) presented their views on this topic.

Such an awkward question, you may think. Of course, it will survive. Just look at the trading volumes of 2006 and look at the second phase prices and volumes which are currently traded. The trading mechanism is working and for the first time in history pollution has been given a price. The only conclusion to be drawn is that there is a market and emission trading is here to stay.
A result Europe can be proud of indeed and the correct conclusion; this opinion was seconded by most of the speakers at the Master Class. We do have to ask ourselves however if emission trading is realising the reason it was set up for: reducing carbon emissions and combating climate change.

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Eneco wins tender from Governmental buyers’ combine in European Energy Auction

19 June 2007

Press Release, for immediate release

Eneco wins tender from Governmental buyers’ combine in European Energy Auction

Amsterdam – 19 June 2007 – Eneco turned out to be the winner at the auctioning of a major natural gas contract by the Central Government facilitated by European Energy Auction (EnergieKeuze).
Fifty Dutch Governmental Institutions, amongst others: the Ministry of Defence, the Department of Justice, the Ministry of Transport, the Ministry of Housing, Regional Development and the Environment and the Ministry of Housing and Construction, will buy 150 million cubic metres of gas per year from Eneco, for the next four years (including two optional years). The total value of this contract comes to approximately 150 million Euros.

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Did G-8 leaders agree on climate change?

HEILIGENDAMM, Germany - Group of Eight leaders including President Bush agreed Thursday to call for substantial global emissions reductions to fight global warming and cited a goal of a 50 percent cut by 2050.
European leaders hailed the deal as progress in the wrangling between Europe and the United States over global warming, with the Europeans pushing mandatory cuts and the U.S. resisting.
German Chancellor Angela Merkel, who shepherded the deal as chair of the G-8 summit in this seaside resort in northern Germany, called it "very great progress and an excellent result." With Bush resisting concrete cuts, it had appeared Merkel's summit would fall short of her goal of a substantial deal on climate change.
"We agree that we need reduction goals - and obligatory reduction goals," she said.
But the language of the declaration appeared to be well short of a full commitment. It called for the countries to "seriously consider" following the European Union, Japan and Canada in seeking to halve emissions by 2050 [Associated Press]

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Remarkable:"Carbon credits for saving apes"

One of the world's most prominent conservation experts issued a rallying cry to save the great apes, man's closest biological cousins, which are under serious threat of extinction. Richard Leakey, former head of the Kenya wildlife service and now chair of Wildlife Direct, said apes across the world faced unprecedented threats from the combined effects of hunting, disease and logging. And he said efforts to tackle global warming through the use of biofuels could cause more damage to ape populations because of pressure to chop down their tropical forest homes. Experts warn that increased uptake of alternative fuels could mean the disappearance of the remaining 50,000 animals there within a generation.
Dr Leakey said human activity was directly to blame for the deaths of millions of gorillas, chimpanzees and bonobos across the world. He urged politicians working on a new international treaty to regulate greenhouse gas emissions to focus more on incentives to conserve forests across south-east Asia, Africa and central and south America.
He said preventing deforestation would help curb global warming as well as preserving endangered apes. Carbon released by deforestation is reckoned to account for 25% of all human greenhouse gas emissions, second only to the energy generation sector. See here.

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Financials, fearing $1 trill./a climate cost, urge G8 to act

OSLO - More than 20 banks and insurers urged leading industrial nations meeting in Germany to back deep cuts in greenhouse gases, warning that unchecked global warming could cost the world up to US$1 trillion a year by 2040 [press release].
A statement signed by 23 chief executives and chairmen of banks, insurance and re-insurance companies participating in the UN Environment Programme's finance initiative called on the G8 to adopt emissions reduction targets no later than 2009. "There has been a seismic shift in how climate change is perceived and it is widely considered to be the greatest market failure ever," the companies, which included Munich Re Allianz and Daiwa Securities said in a statement distributed by the UNEP.

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NAP allocation unfair to power sector

(Montel Powernews) - Although most seemed to agree that the European Commission’s 5.2 per cent cut in the Finnish national allocation plan was lower than anticipated, Fortum expressed strong criticism of the way the electricity sector is discriminated under the current system.

First published 04.06.07 17:16

Commenting on the EC decision today, Fortum said the 5.2 per cent cut to 37.6 million allowances a year was “more or less as expected” since the EC has consistently cut member states’ proposals for allocations to industry included in the EU ETS.

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Review proposals for EU ETS EU ready End of 2007

The Commission will present its views for a revised emissions trading system post 2012 by the end of this year,” Piebalgs told the VDEW congress. Furthermore, the EC will set concrete goals for EU member states on how to reach the target of 20 per cent renewable power production in the total generation mix, he added. “It is an ambitious goal but it is certainly feasible,” he pointed out, saying that given oil prices of around USD 70.00/bbl and carbon prices above EUR 20.00/t, boosting renewable energy is not only an environmental necessity but also profitable.

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Secondary CERs

In the second phase of the EU ETS, CERs (Certified Emission Reductions) will become important compliance tools alongside EUAs.

Especially small and medium sized compliance companies have not yet looked into the possibilities and limitations of CERs.
New Values has developed a new service which makes it possible to buy and trade CERs easily, without all the risks normally related to CERs; so-called secondary CERs.

Hereby some explanations and background information!

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UN meeting moves world closer to comprehensive post-2012 negotiations

Parties to the United Nations Framework Convention on Climate Change (UNFCCC) and its Kyoto Protocol concluded two weeks of negotiations and talks in Bonn, Germany today.T he conference was also the first opportunity for delegates to react to the findings of the Intergovernmental Panel on Climate Change’s (IPCC) Fourth Assessment Report. According to the third installment of the report, released in Bangkok on the fourth of May, climate change can be mitigated at relatively low cost provided the appropriate policies and incentives are put in place.
Parties to Kyoto Protocol took note of IPCC conclusions that greenhouse gas emission reduction commitments between 25 and 40% below 1990 were needed on the part of industrialized countries for the period beyond 2012 to limit a mean global temperature increase, with greenhouse gas emissions peaking within the next 10 to 15 years before going down. [see Press release]

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S&P: Climate Policy to influence Power Market for long term

A new climate change report by Standard & Poor’s indicates that the European energy sector will continue to be under a substantial impact from EU climate policy initiatives. The report focuses on challenges for generators in taking long term decisions impacted by political uncertainty, security of supply, generation mix and technological developments. "It is clear that reducing greenhouse gas emissions will continue to be central to EU policy over the long term and that the operating and regulatory environment for electricity generators will remain influenced by this focus," said Peter Kernan, Standard & Poor´s credit analyst. The findings of the report indicate that a large number of utilities in the energy sector are postponing their decisions to invest in new generation plants due to the uncertainty of what will happen after the expiration of the Kyoto treaty beyond 2012.

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New Values and European Energy Auction

Recently, New Values acquired European Energy Auction BV, operational in the Netherlands and Belgium using the name “EnergieKeuze". EnergieKeuze is an auction platform for electricity, natural gas and Certificates of Origin, offering industries and (local) governments the opportunity to tender their needs in a structured way. This ensures transparency, time saving and the lowest prices on the market. As well as preparing and executing the auctions, clients are assisted in mapping out their energy consumption and conditions before the auction commences. The auction is anonymous; suppliers bidding in the auctions do see the lowest bid, however it remains nameless. So far, a total of more than 450 million euros have been contracted.

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CO2 compensation: Industry caught in carbon ‘smokescreen’

Companies and individuals rushing to go green have been spending millions on “carbon credit” projects that yield few if any environmental benefits. A Financial Times investigation has uncovered widespread failings in the new markets for greenhouse gases, suggesting some organisations are paying for emissions reductions that do not take place. Others are meanwhile making big profits from carbon trading for very small expenditure and in some cases for clean-ups that they would have made anyway. The growing political salience of environmental politics has sparked a “green gold rush”, which has seen a dramatic expansion in the number of businesses offering both companies and individuals the chance to go “carbon neutral”, offsetting their own energy use by buying carbon credits that cancel out their contribution to global warming. The burgeoning regulated market for carbon credits is expected to more than double in size to about $68.2bn by 2010, with the unregulated voluntary sector rising to $4bn in the same period [Financial Times, April 26]

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On our way to trading CERs and ERUs

The year 2007 is well on its way. The end of the year 2007 will not only bring us the start of the Kyoto Protocol agremeents going into force, but it will also mean the end of the first phase of the EU Emissions Trading Scheme. It may seem early to already discuss these subjects now; it will still last at least another 9 months. However, a lot of participants on the Carbon Market are already preparing themselves to be ready for the start of the Kyoto Protocol. And so are we at New Values!

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Re-Brand Global Warming as Economic Woe - UN Draft

A fight against global warming could work better if viewed as part of the world's economic problems and not a purely environmental headache, a draft United Nations report says. The IPCC report, due for release in Bangkok on May 4, says economic policies for everything from forestry to insurance can have big spinoffs in limiting greenhouse gas emissions. Story by Alister Doyle, REUTERS NEWS SERVICE

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Special workshop for Austrian industry on 12 April 2007

In February 2007 ÖEKV (Österreichischer Energiekonsumenten Verband) and New Values signed a cooperation agreement. In line with this the Climex Trading Platform has been prepared for this cooperation and ÖEKV and New Values have now started to approach Austrian industries together.

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Press release: New Values acquires European Energy Auction

Today, New Values takes over TenneT daughter 'EnergyKeuze' (European Energy Auction).

With EnergieKeuze New Values is expanding its products and services, adding electricity, gas and Certificates of Origin to the carbon products which are already being traded on the Climex Spot and Auction Platform.

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Environmentalists Clash Over Carbon Offsets

By Alice Kelly on Ecosystem Marketplace A spate of articles in the media recently focused on quality concerns in the voluntary carbon market. The Ecosystem Marketplace surveys the issues involved in the debate over voluntary carbon offsets. The ads sure sound enticing: By writing a $100 check each year, we can each offset our 10-ton carbon footprints without changing our lifestyles. No more worrying about how our air travel or SUVs spew carbon dioxide into the atmosphere and increase global warming.
More than three-dozen companies now offer to trade our cash to underwrite projects that reduce the amount of greenhouse gases circulating in the atmosphere. According to industry figures, this voluntary carbon market has already prevented or sequestered hundreds of millions of pounds of carbon dioxide emissions. And the field is exploding. Two of the world's largest power companies, General Electric and AES Corporation, just announced plans to create 10 million tons of greenhouse gas offsets by 2010 to sell to commercial and industrial customers. But with battling experts, evolving scientific knowledge and no Better Business Bureau to police this new green field, what guarantees that the carbon offsets being sold effectively protect the environment?
The bad news, says Derek Broekhoff, a senior associate at the World Resources Institute, is that "the vast majority of providers have a long way to go before they are up to speed and maintaining consistent levels of quality." "I would definitely say it's a buyer beware market," he concludes.

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Over-allocation in Germany – Prices dropped and what will happen to Ex-Post and the German Reserve?

According to data from the Community Independent Transaction Log (CITL), 1,827 German installations covered by the European Union emissions trading scheme reported 2006 carbon dioxide emissions totalling 477.38 million tonnes. In 2005, the same installations emitted 474.5 million tonnes of CO2. The 2005 cap for these installations was 496.23 million tonnes.

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Publication on Emission Trading in the German Environmental Magazin "UmweltBeautragte"

Emissionshandel im Jahr der Abrechnung

2007 geht der europäische Emissionshandel in sein drittes Jahr – und somit in die Schlussphase der ersten Handelsperiode. Bis Ende dieses Jahres können die betroffenen Unternehmen überschüssige Emissionszertifikate verkaufen oder ihre Unterdeckung ausgleichen. Mit der Hilfe externer Dienstleister oder über Online-Handelsplattformen ist dies kein Hexenwerk.

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US Supreme Court: EPA authorised to reduce CO2

In a groundbreaking decision, the Supreme Court ruled today that the federal government has the authority under the Clean Air Act to regulate America's global warming pollution. This ruling affirms that carbon dioxide is a pollutant and the Environmental Protection Agency should exercise its existing authority to reduce global warming emissions.
As historic as this ruling is, it does not require the EPA to take action. In a separate decision, the Supreme Court also ruled 9-0 against Duke Energy in a case that tested whether power plants are required to install pollution control equipment on aging coal-fired power plants.

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Press Release

26 March 2007

Press Release, for immediate release

Vertis Environmental Finance and New Values announce
1,177,500 EUAs from the Hungarian Government sold today for € 0.88 per tonne

Budapest and Amsterdam – 26 March 2007 – Today an auction of EUAs for the Hungarian Government took place on the Climex Auction Platform. A total of 1,177,500 emission allowances were on offer in this second electronic auction. Buyers have been bidding a volume of 2.4 million EUAs and the total volume offered for sale was sold, for a price of € 0.88 per tonne.

This was the second EUA auction coordinated by Vertis Environmental Finance on the Climex Platform. The previous one took place on 11 December 2006 and sold a total of 1.197 million EUAs for a price of € 7.42 per tonne.

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Al Gore seeks start Post Kyoto Pact in 2010

COPENHAGEN - Former US Vice-President Al Gore called on Tuesday for Kyoto countries to bring forward by two years the start date of a new global warming treaty, to 2010, given the urgency of the global warming problem. The Kyoto Protocol ties some 35 industrialised countries to 5 percent emissions cuts from 1990 levels by 2012, and the signatories to the pact are currently negotiating a successor. The United States pulled out of the pact on the basis of the possible costs and job losses, but climate change campaigner Al Gore said the next US president, to be installed in 2009, could push for the country's inclusion in a new treaty. "If we were to move to a 2010 start the energies of the American political system could (complete) this within the first two years of the president's term," he said.

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Hungary to auction its remaining 2005-2007 CO2 allowances

Hungary will offer for sale by auction 1,177,500 EU Allowances (EUAs). The auction will take place on 26 March 2007. If necessary, a second round will be held on 29 March 2007.

The Hungarian Ministry of Finance is responsible for the sale of the EUAs, which can be used for compliance in the EU Greenhouse Gas Emissions Trading Scheme (EU ETS). The auction will be managed by Vertis Environmental Finance and executed on the Climex Auction Platform.

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What will allocation in Germany look like in 2008-2012?

So far, the German Government proposed a compliance factor for combustion installations of 85% and for CHP installations and all other industrial sectors, a compliance factor of 98,75%., during NAP II During the revision of NAP II, this approach was changed. Industries still have a compliance factor of 98,75% but for combustion installations the emission reduction will not be reached through a compliance factor but by applying of Best Available Technology (BAT).

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"Implementation of Emissions Trading Scheme still not fully aligned"

See the report by the European Environment Agency here:

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ÖEKV and New Values sign an agreement which gives ÖEKV members access to the Climex Trading Platform

VIENNA/AMSTERDAM – 27 February 2007

Österreichischer Energiekonsumenten-Verband (ÖEKV) and New Values, a Dutch based Carbon exchange, today announce the signing of a cooperation agreement to give ÖEKV members access to the Climex Trading Platform operated by New Values.

As soon as they become members of the Climex Trading Platform, ÖEKV members receive a discount on their trading fees and ÖEKV will support and advise them with the application procedure.

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Dutch Employers Fear Cost of New Govt's Green Drive

The new Dutch cabinet's green proposals, including higher taxes on fuel and air tickets, will hurt business and are best dealt with on a European level, the head of the country's main employers' group said on Wednesday.
"We are afraid of new green taxes, for example on cars, fuel and all kinds of environment taxes which are not yet specified in the programme, that will be costly for companies," Bernard Wientjes, president of the Confederation of Netherlands Industry and Employers [VNO-NCW] told Reuters in an interview. The new Dutch government, made up of a coalition of Christian Democrats, Labour and Christian Union parties, will be sworn into power on Thursday following November elections and weeks of negotiations. The new accord presented early this month underlines the incoming government's green credentials with more aggressive environmental policies and climate change targets than the previous cabinet. Proposals include levying a tax on air tickets, an environment distinction for cleaner and more economical cars and setting up a taskforce to look into higher taxes for environmentally damaging energy and fuels. But details have been sketchy, with the coalition saying it would only announce specifics after extensive talks with unions, employer groups and the wider public. Such taxes will unfairly burden Dutch companies compared with their European counterparts by creating an unlevel playing field, said Wientjes. "When there is a tax, it has to be equal in all countries in Europe, a level playing field. We suggest, don't do it alone. Do it on the European level," he said.

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Second Life CO2 Footprint

If you thought Second Life, the popular online 3D world, was entirely virtual, it turns out to leave a considerable real-life footprint. According to recent calculations, Second Life avatars consume about as much electricity (1,752 kWh per year) as the average Brazilian. In terms of CO2 production, this is 1.17 tonnes of CO2 per avatar.

At any given time there are 10.000 to 15.000 avatars 'living' in Second Life, while the total number of residents has already passed the one million mark. With new businesses, banks, schools and even embassies opening every day, it may be time for a carbon offset program...

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Final Programme Master Class 2007

The programme for the New Values Master Class 2007, which will be held on Thursday 22 February at the Lloyd Hotel in Amsterdam, is finalised.

On Wednesday evening, 21 February at 8.00 pm, you are invited to have dinner with the New Values Team at the Panama Restaurant, in Amsterdam, completely free of charge.

On Thursday, during the morning session, a wide variety of speakers on many different topics will be giving presentations and there will be ample opportunity for discussion and questions. In the afternoon, there is a choice of workshops by specialists on subjects related to Carbon Emission Trade, available to all attendants.

The Master Class is also completely free of charge.

Registration for the Master Class is still possible on our website:
www.NewValues.net

For the New Values The Master Class 2007 Programme please click the following link:
Download file

We look forward to seeing you.

Axel Posthumus

CEO

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Mapping World & US GHG Emissions

Interesting visualization by the World Resource Institute, mapping greenhouse gas emissions of various countries onto US states. See The State of U.S. Emissions, Part I and How U.S. State GHG Emissions Compare Internationally.

The maps show, for instance:

- Every US state is equivalent to an entire country in terms of GHG emissions.
- Six US states (Texas, California, Pennsylvania, Ohio, Illinois and Florida) rank among the top 30 emitters internationally.
- Texas emissions alone are equivalent to Canada (760 million tonnes).
- Michigan is equivalent to the Netherlands (219 million tonnes).

Apart from visualizing emissions data, the maps are also insightful for (future) US climate change policy:

For starters, each state has its own unique circumstances with respect to its GHG emissions and its capacity to reduce them. In that sense, federal and U.S. state policies are analogous to global efforts under the UN Framework Convention on Climate Change (UNFCCC) and the Kyoto Protocol, which refer to countries' common but differentiated responsibilities.

Second, regardless of federal action, states can make a significant global difference. Each state can reduce its emissions on a scale equivalent to at least one member of the Kyoto Protocol. Acting together, states could reduce emissions on a scale equal to a major developed or developing country. That said, there is no doubt that a comprehensive U.S. policy will be needed to reduce emissions on the scale required.

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IPCC report warns of chaos from human action

Financial Times, Fiona Harvey. Water shortages, heatwaves, storms and floods are likely to be the result of global warming, caused by human actions, the biggest report yet on climate change did predict. Global temperatures are likely to rise by about 3°C by 2100, according to the fourth report by the Intergovernmental Panel on Climate Change, convened by the United Nations and charged with assessing climate change science.
The rise – the "best estimate" of the scientists al­though some predict a rise of 2°C and some 4.5°C – would be enough to put a further 1bn to 4bn people at risk of serious water shortages and to cause much more intense storms. The difference in temperature between today's world and the planet's surface in the last ice age is only about 5°C or less.
The IPCC has produced its reports approximately every five years since 1988, but in the the six years since its last findings there has been a deluge of scientific studies on global warming. Today's report will set the tone of the debate for negotiations around the renewal of the Kyoto protocol in 2012.

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Burying CO2 needs more cash

LONDON (Reuters) - A much bigger financial carrot is needed to get companies to spend billions on catching carbon dioxide, a gas widely thought to cause climate change, and bury it under the seas around Britain.
The untested technology is likely to cost at least around 25 pounds per tonne of CO2 captured and stored, more than double the cost of emitting carbon, according to a new report by Poyry Energy Consulting for the Department of Trade and Industry. So, unless the cost of CO2 emissions on the European Union's emissions trading scheme more than doubles, or the cost of the technology halves, the taxpayer will have to pay the difference if carbon capture and storage (CCS) is to play a role in Britain's climate change fight. "It's a really expensive thing to do and unless there is some sort of incentive for them to do this then what reason have they got to install these facilities?" one of the report authors Barry Ladbrook told Reuters. "Something like a carbon price is one of the things that would make it more attractive." But permits to emit CO2 are trading at around 16 euros per tonne, even for the much costlier second phase of the EU's emissions trading scheme.

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Ex-Post and Emission Reporting Time in Germany

German companies are currently preparing their mandatory yearly reports on the 2006 emissions. Many companies even have to prepare a so-called „Ex-Post“ Report, which has to be verified and then lodged with the German authorities before 31 January. The question rising is, how will Ex-Post be dealt with and what will happen with the millions of EUAs that will fall free for the market, if the EU overrules Germany’s Ex-Post Regulation?

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3rd New Values Master Class Programme

3rd New Values Master Class

On 22 February 2006

At the Lloyd Hotel, Oostelijke Handelskade 34,
Amsterdam, Netherlands


Theme
This year’s Master Class Theme:

“Will Emission Trading survive the first trading period?”,

The central issues will be:
• What has happened so far?
• How did prices develop?
• What was driving the market?
• And of course what can be expected in 2007 and in the second period (2008 until 2012).

The Theme will be highlighted from 4 perspectives:
• The environmental perspective: Do we have an environmental problem and does the ETS system contribute to solve this problem?
• The political perspective: The Carbon Market is a market created by the European Community. What can be expected during the second period and how will politics contribute to ensure the working of the market?
• The traders perspective. How does a professional trader see the Carbon Market? Why is it worth while to put effort into it? What are the expectations for 2007 and the second period?
• The analytical perspective. What has happened on the Carbon Market from an analytical point of view. How did the market develop and which were the drivers? What can be expected for the future?
• The New Values perspective. How has New Values developed, how will New Values anticipate the future and what can everyone expect from New Values.

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New Values invites you to the 3rd Master Class on 22 February 2007

LOOKING BACK AND FORWARD WITH TRADERS FROM ACROSS EUROPE.

The second year of EUA trading has passed by rapidly. In 2006 more than 800 million tonnes of EUAs have been traded as part of the European Trading Scheme, which can be qualified as having been successful. However, contrary to the common developments in new financial markets forward trading has taken of much faster and broader than spot trading. Furthermore, trading has mostly been carried out by a relatively small group of professional, investment driven traders. A large majority of industries is not trading directly, but through financial institutions and brokers instead. Also not all the available volume has reached the market. As a result of these, transparency in the market is lagging behind and the amount companies spent on transaction costs is higher than needed.

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Many member states contest Allocation Plan decision of Commission

[Ends] The European commission is facing a mounting rebellion by member states over its demand that they rein in their proposed caps on industrial CO2 emissions in the 2008-12 second phase of the EU emission trading scheme (ETS). In November the commission demanded cuts from nine out of ten countries in its first rulings on submitted national allocation plans (Naps) for the phase. Half of them are contesting its verdict, it has emerged. Germany, which assumed the EU presidency on 1 January, is the earliest and biggest dissenter (EED 04/12/06). The government has reportedly written to the commission offering some compromises but refusing to budge on the cap. So far the commission has firmly rejected German pressure to rethink. Just before Christmas, commission president Jose Manuel Barroso added his political weight, telling newspaper Bild am Sonntag, that Germany must obey the commission’s decision.

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Harsh words for airlines

British Environment Minister Ian Pearson has severely criticized airlines for opposing EU plans to include aviation in the ETS and refusing to take climate change seriously. He called Ryanair the "irresponsible face of capitalism", and US airlines' attitude to cutting emissions "a disgrace".

In December, the EU proposed to include all European flights in the ETS in 2011, and international flights to and from Europe in 2012.

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2006 warmest in The Netherlands ever recorded

The Dutch Meteorological Institute (KNMI) reported that 2006 has been the warmest ever since temperature was recorded in The Netherlands in 1700. The average temperature was 11.2 Degrees Celsius. Not unexpectedly, more records have been slammed this year. During the winter, the North Pole ice cover was never so small. The Summer of 2006 was the hottest since temperatures were collected. It was also the wettest in 100 years. The Statistics Bureau reported 1000 deaths more in Summer than usual (0,01% of the population). There are cases of blue tongue desease with sheep we never had. And butterflies came later, as the mussels and famous Dutch herring did.
When I worked for the Dutch Environment ministry in the early ninetees, these were elements of climate change scenario's to come. Whether this is proof or early warning of climate change. We better take at least precautionary measures and cut overall emissions. Having the carbon market now keeps our cost to do so limited.

First Dutch Weather station (Buys Ballot) in Utrecht, 1850 (small tower left)

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CDM toothing problems

A critical look by the New York Times at the Clean Development Mechanism (CDM) reveals "some hidden problems." To be sure, from an American perspective CDM is still "an obscure United Nations-backed program" (sic) and not an integral part of the Kyoto Protocol. But the article's findings are interesting, especially concerning some of the unintended side-effects.

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Are the EU and Germany too strict with their emission reduction targets?

German energy suppliers criticise Germany’s politics regarding Climate Change. Recently 18 top managers from the energy sector signed a letter addressed to the German Chancellor Angela Merkel, stating that the emission reduction targets claimed by the EU in NAP II for the 2008-2012 phase cause essential problems to the German energy supplying industry. The planning reliability concerning the construction of new power plants is in danger. Some companies even threatened the German Government with a switch of investment to Latin America and Asia. The absence of further major investments would lead to an increase of electricity prices, was the message by top managers in their letter.

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2007 hottest on record & sea-level rise underestimated

Britain is on course for the warmest year since records began, according to figures from the Met Office and the University of East Anglia . Temperatures logged by weather stations across England reveal 2006 to have been unusually mild, with a mean temperature of 10.84C.
Current sea level rise projections could be under-estimating the impact of human-induced climate change on the world's oceans, scientists at the University of East Anglia suggest. By plotting global mean surface temperatures against sea level rise, the team found that levels could rise by 59% more than current forecasts. When applied to the possible scenarios outlined by the Intergovernmental Panel on Climate Change (IPCC), the researchers found that in 2100 sea levels would be 0.5-1.4m above 1990 levels. This projection is much greater than the 9-88cm forecast made by the IPCC itself in its Third Assessment Report, published in 2001.

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Press Release

11 December 2006

Vertis Environmental Finance, euets.com and New Values announce
1.197 million EUAs from the Hungarian Government sold today for € 7.42 per tonne

Budapest and Amsterdam – 11 December 2006 - Vertis Environmental Finance coordinated an auction of EUAs for the Hungarian Government on the euets.com CO2 exchange, using the Climex auction platform. Buyers have been bidding a total volume of 3.42 million EUAs. A total of 1.197 million EUAs have been sold to optimize revenues, for a price of € 7.42 per tonne.

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Global Carbon Project analysis

CO2 emissions have been rising with an annual 2.5% since 2000, a new analysis by the Global Carbon Project shows. The rise of emissions has accelerated sharply compared to the 1990's, when emissions rose by less than 1%. Last year alone, 7.9 gigatonnes of CO2 were emitted globally, compared to 6.8 Gt in 2000.

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Climate conference settles on next steps to negotiate future emissions cuts

NAIROBI, Kenya: A U.N. conference on climate change has set a rough timetable for reaching a new agreement to cut greenhouse-gas emissions, but some officials and activists warn that the world is still moving too slowly and selfishly in the fight against global warming.
China agreed Friday to a review of the Kyoto Protocol by 2008 — crucial toward setting new quotas on carbon dioxide and other emissions — but only after being assured it and other developing countries would remain exempt from mandatory cuts in the near future. China's position and the continued U.S. rejection of the Kyoto pact made the 180-nation Nairobi climate conference one of the least productive of the annual two-week meetings. Many participants said little could be accomplished until those two giant polluters, and others such as India, agree to cut emissions.
Britain's Environment Secretary David Miliband joined German Environment Minister Sigmar Gabriel in saying greater urgency was needed to prevent global warming.

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The Nairobi Framework

At the UN Climate Change Conference (COP 12) in Nairobi, Secretary General Kofi Annan announced the 'Nairobi Framework', a new UN initiative to help developing countries, especially in Africa, participate in the Kyoto Protocol’s Clean Development Mechanism.

A report by the UNFCCC last week stressed the particular vulnerability of Africa to climate change. Helping developing countries to adapt to the impacts of global warming is a key focus of the conference.

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Nairobi:UN Climate Fight More Flexible after 2012

(Reuters) A UN-led fight against global warming is likely to be more flexible after 2012 in hopes of enlisting outsiders such as the United States and China, delegates at UN climate talks say. Ideas floated at the Nov. 6-17 talks include technology and aid for poor nations in return for braking a rise in greenhouse gases, sectoral goals for industries such as steel or aluminium, or credits to slow deforestation in the Amazon or Congo basins.
"We have to make it attractive for countries to take part," Yvo de Boer, head of the UN Climate Change Secretariat, said of ideas for widening the UN's Kyoto Protocol beyond 2012 which sets strict caps on emissions. "I see people looking at a larger menu of options and I find that very constructive," he told Reuters.

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COP/MOP Nairobi Kenia

The twelfth session of the Conference of the Parties to the Climate Change Convention (COP 12), in Nairobi, started on 6 November during which the German Environmental Minster, Sigmar Gabriel, made clear, that climate change is a serious challenge progressing faster than expected by scientists so far. Mr Gabriel acknowledges that within the next 10 to 15 years, the greenhouse effect will have to be decreased in such way, that the temperature will not rise by more than 2 degrees and the climate will stabilise.

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COP/MOP Nairobi Kenia

The twelfth session of the Conference of the Parties to the Climate Change Convention (COP 12), in Nairobi, started on 6 November during which the German Environmental Minster, Sigmar Gabriel, made clear, that climate change is a serious challenge progressing faster than expected by scientists so far. Mr Gabriel acknowledges that within the next 10 to 15 years, the greenhouse effect will have to be decreased in such way, that the temperature will not rise by more than 2 degrees and the climate will stabilise.

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Climate Summit starts: forest can bring countries together

This years Climate Summit is held in Nairobi, in Africa that will suffer the most from climate change, when we think of the difficult situation many countries are in already. A former US Delegation Member under Clinton, Stuart Eizenstat, describes in an oped in the New York Times ('Seeing the Climate Policy for the Trees'', Nov 4) how the issue of avoiding deforestation (20% of the global emissions!), can help tackling the problem, involving developing countries and bringing in the US again.
"THERE is a little recognized but vital element to re-engaging the United States in solving the problem of global climate change: forests. Creating financial incentives to protect forests and promote tree planting would be attractive to poor nations but also to American companies and farmers, giving the United States government a potent political reason to get involved in international climate policy."

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UNFCCC: Rising Emission Trends

The annual UNFCCC report on greenhouse gas emissions from developed countries signals "an upward trend in emissions of industrialized countries in the period 2000-2004."

The report, Greenhouse Gas Data, 2006, shows overall emissions of industrialized countries decreased by 3.3% in the period 1990-2004. But this was mostly due to a 36.8% decrease in the transition economies of eastern and central Europe (EITs). Greenhouse gas emissions of the other industrialized countries grew by 11%.

"The worrying fact is that EITs, which were mostly responsible for the overall emissions reductions of industrialized countries so far, as a group have experienced an emission increase of 4.1% in the period 2000-2004," said UNFCCC Executive Secretary Yvo de Boer. "This means that industrialized countries will need to intensify their efforts to implement strong policies which reduce greenhouse gas emissions."

Joint emissions of industrialized countries under the Kyoto Protocol were 15.3% below the 1990 level in 2004, while the individual performance of countries varied. In order for all Kyoto countries to meet their emission reduction commitment - of 5% below 1990 levels between 2008 and 2012 - the report points to the promising option of clean development mechanism (CDM) projects.

See also:
- Graphs of 1990-2004 emission trends, here and here
- World's report on global warming:"Must try harder" (Reuters)

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October ’06 best trading month on Climex so far.

The Climex spot trading platform traded almost 500.000 tonnes of EUAs in October. The best result by the New Values owned Spot Trading Platform Climex. The figures below show the results in comparison to other exchanges.

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EU ETS Market expected to face more selling pressure in 2007

Carbon prices may change if the surplus is put on the market. A first time study in this matter shows possible increased activity, according to Guy Turner, Director of New Carbon Finance.

James Emanuel, Vice President of CO2e, finds the study shows the industry not using Emission Trading to its full potential and their advantage, and unwilling to learn about the opportunities on offer. Until the market will be used actively, liquidity and efficiency of the market, which will stabilise prices in the long run, will not improve.

Read more:

http://www.co2e.com/EU_ETS_Market_Analysis.pdf

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Stern Review on the Economics of Climate Change

The British Government published the Stern Review on the Economics of Climate Change (http://www.hm-treasury.gov.uk/newsroom_and_speeches/press/2006/press_stern_06.cfm). It contains severe warnings for the future, should we fail to limit the emission of CO2.

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UK aviation emissions & 'air dependency'

A new study by the Oxford University's Environmental Change Institute (ECI) has fueled the debate on aviation emissions in the UK. While the UK Government's Department for Transport prefers including aviation in the EU ETS, the report concludes the UK is becoming "air dependent" and will not be able to meet its goals on climate change without also curbing air travel demand.

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Carbon trade 'to save' rainforest

The Worldbank proposes to establish a fund that pays countries that protect their tropical rainforest from deforestation in return for CO2 credits that can be used on the carbon market (see below). Basically that is a good idea. A group of countries, the Rainforest Coalition, including Papua New Guinea and Costa Rica is proposing some compensation for stopping the high deforestation rates in their countries. But to make that possible it is needed that governments agree to a future Climate Treaty, in which that is indeed regarded. At the Climate Summit, Kenia in November this one of the issues for debate. The Worldbanklcomes in maybe a bit too fast, but it reflects that basically the idea could work

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Study: Climate change could cost economy trillions

American economists have warned that the repair bill if we fail to address climate change could run into trillions of dollars whilst the social and environmental costs will be incalculable. This is the verdict of a report from the Global Development and Environment Institute ("The Cost of Inaction") at Tufts University which surveyed hundreds of environmental and economic academic papers which looked at the effects of allowing the global temperature to rise to two degrees above pre-industrial levels. The findings are in stark contrast to those of a report released by energy giant Shell last week (related story) which claimed climate change could boost the British economy by £30 billion over the next decade as industry makes the most of new technologies and the opportunities presented by new regulations.

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UK, Netherlands urge tighter ETS beyond 2012

[Pointcarbon] A tighter and expanded EU emissions trading scheme after 2012 is among UK Prime Minister Tony Blair and his Dutch counterpart Jan Peter Balkenende’s proposals to deal with global warming after 2012.
The two prime ministers on Thursday issued a letter to the members of the European Council ahead of today’s informal energy talks between the EU and Russia in Lahti, Finland.
The European Council is designing its strategy for the upcoming UN climate meeting in Nairobi in November, which will in part focus on an international post-2012 regime to fight global warming.
In its list of actions the EU should take to avoid climate change, the first point is “strengthening the EU Emissions Trading Scheme (which is critical for driving the carbon market) with progressively tightening caps beyond 2012 and extending it into new areas and possibly by linking to non-EU countries.”

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THE INTERNATIONAL TRANSACTION LOG (ITL)

The ITL is an essential component of the trading market infrastructure. It links all the registries of member states for trading settlements and it has the power to draw a settlement to a standstill if Kyoto rules are broken.
On the one hand the ITL provides business certainty (you know what you are buying) and at the same time it ensures integrity of emissions targets under the Kyoto protocol.

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Make Markets Work for Climate

At the Make Markets Work for Climate conference in Amsterdam, the issue is not whether climate change and global warming are real, but how they can be fought in a cost-effective way. Or more precisely, how to achieve "a new international climate regime in which carbon finance can be an integral component of investment." The two-day conference is hosted by VROM (the Dutch Environment Ministry) with the World Bank and corporate sponsors ABN Amro and Shell.

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Post-Kyoto Climate Talks May Last to 2010

OSLO - Talks on extending a UN-led fight against global warming beyond 2012 may last until 2010 to allow a wider US role after President George W. Bush steps down, a UN expert said on Wednesday. Many environmentalists, and some governments, want a new pact on cutting greenhouse emissions agreed by 2008 to give businesses and investors time to adapt to new rules after the UN Kyoto Protocol's first period ends in 2012. "I sense in the rhetoric that people are talking more about 2009 (than 2008)", said Michael Zammit Cutajar, a climate expert from Malta who leads a UN group looking at how to extend Kyoto. "We need a deal that includes Kyoto and includes the United States," he told Reuters during a conference in Oslo on carbon dioxide emissions. "I wouldn't be surprised, given the US electoral calendar, if the overall deal would be 2010," he said.
Our Comment: : This is a realistic prognosis. For companies and the market an agreement in 2010 can be a good signal., provided, the agreement is clear, ambitious and doesn't leave a gap after Kyoto (2012)

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Environmental commodities, the asset class of the future.

Every investment made today by any financier can be assessed based on a triple bottom line:
• Financial (the profit factor); for this, existing financial markets are well developed and extremely efficient, they operate with huge volumes on a global scale. Integration of infrastructure is slowly starting to pick up and is mainly driven by legislation, not by the market.
• Environmental (the planet factor); the financial markets for environmental commodities are just about to evolve. The Kyoto Protocol is a catalyst, and the carbon market being the first, physical result, is growing fast. The lack of infrastructure currently limits the potential of this market. But since the development of this market is driven by energy markets, which are not bound by tradition and legacy, it is expected that this limitation can soon be overcome.
• Social (the people factor); some initiatives to structure the financial markets to quantify on social dividend have only just started. Market mechanisms for social dividend are aimed at making the investment (and its 'social' return) comparable and measurable. An example may be the reduction in the number of people that die as a consequence of malaria as a result of an investment in clean drinking water in Africa. The potential for this market as a financial market is huge as the amount of available money is enormous (made available by successful entrepreneurs such as Gates, Buffet, Branson…).

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An Inconvenient Truth

The Dutch premiere of Al Gore's climate change documentary An Inconvenient Truth yesterday also marked the opening of the VU Climate Center and the launch of the climate campaign Hier. At a climate conference at the Vrije Universiteit in Amsterdam, Gore spoke for an audience of politicians, CEOs and NGOs, including Dutch environmental secretary of state Van Geel and European commissioner Wallström. Fittingly, the conference itself was carbon-neutral.

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Integration of aviation into the Emissions Trading Scheme?

The integration of aviation emissions into the Emissions Trading Scheme has been an intensely discussed topic for some years now. In 2005 the EU Council considered the integration of air traffic as an additional industrial sector to the Emissions Trading Scheme, as a new technical and economically feasible opportunity. Legal requirements regarding the addition are expected to be finalised at the end of 2006.

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Integration of aviation into the Emissions Trading Scheme?

The integration of aviation emissions into the Emissions Trading Scheme has been an intensely discussed topic for some years now. In 2005 the EU Council considered the integration of air traffic as an additional industrial sector to the Emissions Trading Scheme, as a new technical and economically feasible opportunity. Legal requirements regarding the addition are expected to be finalised at the end of 2006.

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NEW IETA ERPA HAS BEEN LAUNCHED

On 13 September 2006 IETA launched a new version (v3) of their ERPA during the ‘Market functioning issues in the EU ETS 2006’ workshop. A team of highly experienced professionals has been working on the document for almost a year. They have not been able to avoid this ERPA contract still being somewhat of a compromise, but it is a big step forward.

The goal for this updated ERPA was to help reduce the cost of negotiations. The guidelines for creating the ERPA were standardisation and flexibility. It can be used pre- and post- registration, is balanced between buyers and sellers and can also be used for CDM ‘lite’ purchasers (just the off-take).

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Climate change visualizations

The United Nations Environment Programme (UNEP) has published an Atlas of Our Changing Environment, available online. Contains interactive maps (using Google Maps), with past and present satellite images and photographs, as well as lots of downloadable PDFs and PPTs.

As just one example, see this one: Night Lights (PDF), with satellite images of the USA by night, along with information on global energy and oil consumption.

Also, for a visualization of future climate change scenarios, see this interactive map by Le Monde (in French).

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PWC: Carbon Capture and Storage essential mitigation measure

Burying carbon dioxide (CO2) underground will be vital to keep greenhouse gases at safe levels, given projected rapid emissions growth in developing countries, accountants PriceWaterhouseCoopers (PwC) said in a report. China's economy has grown at more than 10% a year in the past three years, and according to PwC projections it could overtake the US in size of economy by 2016 and in carbon emissions by 2010.

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Curbing emissions the American way

While California made world headlines for becoming the first state to cap emissions, more US states are no longer waiting for federal regulations and introducing their own plans. In fact, twelve of them are bringing a case against the government to the Supreme Court, for failing to regulate emissions. Here's an overview of some of the recent developments.

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Calif. sues automakers, seeks cash for climate change damage

The California attorney general filed a lawsuit today against the nation's 6 largest automakers demanding payment for the effects on his state of their heat-trapping CO2. Democrat Bill Lockyer entered a 16-page complaint in federal district court in Northern California that seeks to hold the key players in the automobile industry financially accountable for changes to the Earth's climate. While Lockyer did not specify how much money he wants from the automakers, he did say Californians will suffer damages totalling billions of dollars from the effects of global warming, while also spending millions more to prepare for climate change.
Lockyer said he singled out the "Big Six" automobile companies -- General Motors Corp., Toyota Motor North America Inc., Ford Motor Co., Honda North America Inc, Chrysler Motors Corp., Nissan North America Inc. -- because their emissions are growing faster than any other industrial source.

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Airlines and ETS?

Climate change is the theme of European Mobility Week starting tomorrow. In a strategy paper on 'soft mobility' released today, the EU Parliament's Greens call for the introduction of a kerosene tax as well as an emissions trading scheme for airlines. The airline industry was excluded from the Kyoto agreements, though estimated to cause 4% of global warming from human activities. As bringing the airline industry into the ETS would involve a complex industry-wide agreement, it is perhaps unrealistic to expect this to happen any time soon.

Meanwhile Dutch company Greenseat.com offers an easy way for consumers to compensate CO2 emissions from flying. Based on the distance flown, pollution (either CO2 only or all greenhouse gasses) is calculated and converted into a number of trees needed to compensate. As an example, a single person return flight Amsterdam - Munich adds up to 0.48 tonnes of CO2 and other greenhouse gasses. To compensate, 24 trees need to be planted, at a cost of € 9.16.

A good next step would be for airlines to integrate this kind of CO2-compensation directly into their booking systems. Choose destination, choose date, and click here to fly CO2 neutral...

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Weather report: breaking records

The Dutch Meteorological Institute (KNMI) reported that the during the winter, the North Pole ice cover was never so small. The Summer of 2006 was the hottest since temparatures were collected in 1700. It was the wettest in 100 years. The Statistics Bureau reported 1000 deaths more in Summer than usual (0,01% of the population). There are cases of blue tongue desease with sheep we never had. And butterflies came later, as the mussels and famous Dutch herring did.
When I worked for the Dutch Environment ministry in the early ninetees, these were elements of climate change scenario's to come. Whether this is proof or early warning of climate change. We better take at least precautionary measures and cut overall emissions. Having the carbon market now keeps our cost to do so limited.

First Dutch Weather station (Buys Ballot) in Utrecht, 1850 (small tower left)

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NASA scientist James Hansen: "10-year window to act on climate"

(Reuters) Hansen, a leading U.S. climate researcher said on Wednesday the world has a 10-year window of opportunity to take decisive action on global warming and avert a weather catastrophe. He said governments must adopt an alternative scenario to keep carbon dioxide emission growth in check and limit the increase in global temperatures to 1 degree Celsius. "I think we have a very brief window of opportunity to deal with climate change ... no longer than a decade, at the most," Hansen said at the Climate Change Research Conference in California's state capital. If the world continues with a "business as usual" scenario, Hansen said temperatures will rise by 2 to 3 degrees Celsius and "we will be producing a different planet."

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Ending RE subsidy and the consequence for Dutch Allocation

The modified Draft Dutch Second Allocation Plan, discussed in Parliament earlier this week contains one white page. That page should include the indicative allocations at installation level. But the Plan mentioned that the list could not be given yet, because of changes in the renewable energy (RE) subsidy scheme. Companies, falling under the EU ETS, that were supposed to receive this subsidy, are now expected to claim additional allowances. Because exact numbers fail, the overall allocation could be give yet (a shortened version was published as Viewpoint in Carbon Market Europe)

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Global CO2 Emissions Continue to Rise

The world's industrialized nations continue to produce more CO2 emissions: a 1.6% increase in 2004, with the United States taking the lion's share with 7.1 billion tonnes. On the upside, California has passed a new law to become the US' first state imposing a cap on CO2 emissions.

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New Values facilitates liquidity, transparency and standardisation also in the CDM, JI and Voluntary market

You will have probably noticed there is a whole world alongside the EUA market in the shape of CDM (Cleaner Development Mechanism), JI (Joint Implementation) and Voluntary projects. These projects from non-Annex 1 countries generate emission reductions and can sell these rights (CER, ERU and VER) to Annex 1 countries.

If it took you a while to familiarise yourself with the ins and outs of the EUA market, beware the world of emission reduction rights which is even more complex. This however, does not mean you should not get involved and avoid emission reduction rights altogether

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A concept for how the voluntary carbon market can work

The EU ETS and the Kyoto Protocol have defined strict emission reduction targets, enforced by legislation. The result is that governments and large emitters have to comply with these targets. In addition to this, a lot of voluntary initiatives have started the past few years to also reduce carbon emissions. To stimulate these voluntary initiatives, New Values believes that market mechanisms can function as catalysts here also.

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Brazil Proposes Fund to Stem Rainforest Cutting

September 01, 2006 — By Andrea Welsh, Reuters SAO PAULO, Brazil — Brazil proposed Thursday a fund to compensate developing countries that slow the destruction of their rainforests, a move that could help lower emissions of gases blamed for rising world temperatures. The Brazilian initiative, presented at a planning meeting for upcoming global climate talks in Rome, calls for creating a fund that countries could tap into if they could prove they had brought deforestation below rates of the 1990s. "Once again Brazil is acting as a protagonist ... in presenting an innovative proposal," Environment Minister Marina Silva told Reuters at a conference in Sao Paulo. Disagreements over how to address deforestation have hurt global efforts to cap emissions of greenhouse gases like carbon dioxide and create markets for trading in carbon and credits.

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One year after: Katrina in Numbers

Environmental Defense provided a list of Katrina facts and is asking for more action to prevent future tragedies. Untill now, very little was done according to the new report One Year after Katrina: Louisiana Still a Sitting Duck, from Environmental Defense and a coalition of other groups.

Katrina in numbers:. 1,836: Estimated death toll from Katrina, making it the deadliest storm to hit the U.S. since 1928;
. 1 Million: Number of people displaced by the storm;
. 80% of New Orleans that was flooded, some places under 20 feet of water;
. 48 Football Fields: Amount of coastal marshes and wetlands that disappear every day to open water in coastal Louisiana.
. 118: Square miles of coastal wetlands in the Mississippi Delta converted to open water after Hurricanes Katrina and Rita.
. 2.7: Miles of coastal marshes and wetlands between New Orleans and the open ocean needed to reduce storm surges by 1 foot.

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Data collection for NAP II in Germany

The data collection (25 August until 6 October 2006) is used for gathering missing company data, checking the quantity structure of Germany’s NAP II and determine a new reduction factor for the allocation for the 2nd trading period.

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Emissions Trading in Germany

End of June 2006, the German Federal Cabinet decided upon the national allocation plan for the second trading period and the “Datenerhebungsverordnung 2012” (DEV 2012). Due to that decision all relevant installations will have to report their CO2 emissions data for the years 2003 and 2004, in the period from 25 August until the 6 October 2006. Companies that do not comply may be punished. These emission reports should complete the data base for the German allocation plan, that comprises the years 2000-2005 for allocation based on historic emissions.

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Oil refinery gives greenhouses a boost with CO2 pipeline

[The Guardian: Saturday August 12, 2006]
A project to reduce the carbon dioxide emissions from oil refineries by using the gas as "fertiliser" in commercial greenhouses has been so successful it is being extended. The project, which adds new meaning to the term "greenhouse gas", is the first in the world. It distributes CO2 from Shell's Pernis refinery outside Rotterdam to 400 greenhouses, saving a large amount of natural gas each year, which is equivalent to 170,000 tonnes of CO2.
"Of course, there is a reduction in the use of natural gas at the greenhouse," Mr Limbeek said of Organic CO2 for Assimilation of Plants (OCAP).. "But under European emissions trading rules it is Shell who benefits because CO2 that would have been emitted by them now goes somewhere else." Shell will share some of the profit from selling carbon credits with the greenhouses after 2008, but Mr Limbeek was not prepared to reveal details of the deal.

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Exxon paid PR firm drops anti-Gore video in amateur blog

Wall Street Journal brought the news that a video dropped by an amateur on a blog (You Tube, broadcast yourself) was in fact plotted there by DCI, a public relations and lobbying firm whose clients include oil company Exxon Mobill. See below for the complete story. See here for the video, the global warming documentary "An Inconvenient Truth."

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C U at the CO2 Market

Whether you are the owner or a CEO of a large industry, sooner or later the Kyoto Protocol will come knocking at your door………..yes, you are allocated and welcome to the club. Basically the Government told you how much air you are allowed to pollute in a set period of time and you just have to comply. All of a sudden you have to occupy yourself also with other things rather than your core business, and that is trading CO2. Before you establish what to do with the fact that you can trade, I will give you an example of trading and complying at the same time.

click on entire posting to read more>>

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Only six NAP2's submitted; worse performance than for NAP1

The European commission has still received only six national allocation plans (Naps) for the second phase of the European emission trading scheme (EU ETS) more than two weeks after the deadline for submission. Germany, Estonia, Ireland, Lithuania, Poland and Luxembourg are the countries that have submitted final plans. Only Estonia actually met the 30 June deadline. The commissioner said latecomers would be sent letters at the end of the month to be followed by "more formal" action afterwards to ensure compliance. The commission expects more Naps to be submitted "in the near future". Greece and Slovakia, for example, have finished public consultations and could submit soon, it is believed (source: ENDS)

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New NAPs lack ambition; just comply seems the credo

The current 19 Drafts of Second NAPs show in total a reduction of 4,8% compared to NAP-1. That seems lower than the 8% cut, the European Commission is looking for. Of course, most NAPs are consultation drafts and not complete or approved. And we have to admit that it is even difficult to compare NAP-2 with NAP-1, because of the fact that the second NAPs contain more installations. The Fraunhofer Institute together with NSW and myself assessed for Greenpeace International the first draft NAPs of Germany, UK and NL and concluded that these draft NAPs place a disproportionate burden for emissions reductions on the non-ETS sectors in terms of meeting the countries' respective commitments (see press). This effectively lets the industries covered ‘off the hook’, and places an extra burden on the transport, commercial, household, and other sectors not covered by the ETS. The report propose more ambitious NAPs to be sure that longer term reductions can be made and to speed up green investments. It suggests that in particular new entrants (e.g. new power plants)should not just get all allowances needed and not for free.

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European GHG emissions increase

The latest official EU greenhouse gas data has revealed that emissions of the six Kyoto protocol gases increased for the second year running in 2004. EU emissions rose by 0.4%, and 0.3% in the old EU-15, the European commission and European environment agency (EEA) reported on Thursday. They had increased by 1.5% the previous year (EED 21/06/05).
EU environment commissioner Stavros Dimas called for greater decoupling between economic growth and greenhouse gas emissions. He added that member states had a "major opportunity" to reverse unsustainable emission trends in their national allocation plans for the second phase of the EU emission trading scheme, due by the end of this month.The rising trend in greenhouse gas emissions calls into question official optimism that the EU can still meet its Kyoto emission commitment with little or no recourse to overseas emission credits. Only last December the European commission projected that the EU-15 could achieve -6.8% or even better by 2010

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US House Committee calls for US and international mandatory emissions caps

The influential House Appropriations Committee, oversseeing the federal budgets, supports adressing global warming through a mandatory cap on U.S. emissions. The Republican-led panel accepted a nonbinding climate change amendment that endorses capping greenhouse gas emissions as long as the program does not harm the U.S. economy. Rep. Norm Dicks (D-Wash.) had prepared a climate change amendment for consideration as part of U.S. EPA and Interior Department's fiscal year 2007 budget. The amendment also requires participation from international trading partners.
Yesterday, a scientific study commissioned by the Bush administration concluded that the lower atmosphere was indeed growing warmer and that there was "clear evidence of human influences on the climate system."

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Dutch buy up to 10 Mton Rumanian surplus AAUs

Dutch Minister Brinkhorst of Economic Affairs and the Rumanian Minister of Environment and Waters Management Sulfina Barbu signed today sign a Letter of Intent concerning the co-operation between the Romanian Ministry of Environment and Water Management and the Ministry of Economic Affairs of the Netherlands for the implementation of the Article 17 of the Kyoto Protocol of the United Nations Framework Convention on Climate Change. Under that Protocol provision governments can trade CO2 allowances from their national budgets (see press story in the Telegraaf in Dutch).
It is said that the Letter of Intent provided for the transfer of 5 up to 10 Mton AAUs of the surplus of AAUs Rumania has been allocated with by the Kyoto Protocol. The Price will depend on the market price, but will be around tens of millions Euro.
Dutch Consulting attorney Jos Cozijnsen: “This is really a novelty; EU governments have always resisted to purchase emissions allowances directly from governments with surplus; they said they preferred to purchase ERUs from new emissions reduction projects under JI� . The Dutch may have promoted now a new way of dealing with Kyoto, that benefit both sides. The Dutch have more certainty to meet Kyoto; and Rumania is assured of upfront capital for the sustainable economic growth they need.

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Dutch look for Kyoto purchase safeguards

The Dutch government announced it will reserve additional tens of € millions to safeguard the Emission Reduction Purchase Agreements (ERPAs) they entered into. They expect that 10-20% may not be realised, and also the current CER price increase made the extra budget necessary. The government further considers to purchase greened AAUs from Russia/Ukraine via a Worldbank Programme. And finally, the government is looking into entering into option contracts. With the ERPA Programme the Netherlands wants to ensure half of the 200 Mt reductions needed for its Kyoto target (-6% compared tot 1990). Through JI 34Mt will be bought and 67Mt. via CDM.
To ensure the 100 Mt reductions needed domestically the government decided to increase the biofuels for cars share to 5,75% in 2010.

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Quiz: What do YOU know about global warming?

See quiz (Environmental Defense)

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Windfall profits: Europese Commissie richt Commissie op

Op de Pointcarbon Conferentie in Copenhagen, 28 feb-2 maart ging de meeste discussie over de windfall profits. In het panel van de conferentie zei Joachim Ehrenberg, DG Enterprise, official binnen de Europese Commissie dat de Commissie het voorkomen van windfall profits erkende. Maar hij zei ook dat de EU nu eenmaal voor twee niet automatisch gelijklopende wegen had gekozen. Het Kyoto-pad, dat om het meenemen van CO2-kosten bij de prijzen van producten vraagt. En het Lissabon-pad, dat vraagt om beperking van kosten om de concurrentiepositie van de Europese industrie te verbeteren.
Ehrenberg verwees daarom naar de High Level Energy Commission die recentelijk is opgericht. Die bestaat uit de meest betrokken Commissarissen. Zij zullen een aantal problemen die met elkaar samenhangen bespreken: voortgang emissiehandel, energieprijs, energie-afhankelijkheid, concurrentie.  

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Join our poll on the windfall profits

What do YOU see as a solution to this issue?
see our poll left on this page

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Windfall profits: European Commission installs a Commission

Copenhagen.Joachim Ehrenberg, DG Enterprise official within the European Commission said he acknowledged the issue of windfall profits. But he also said that the EU had chosen for 2 paths: the Kyoto path, asking for internalising carbon cost and the Lisbon path, asking to reduce cost to improve competition of European industries. He than referred to the High Level Energy Commission, recently installed, consisting of related Commissioners, to discuss the linkage between emissions trading, the oil and gas dependancy, competition, electricity prices. EON's Stefan Utreich said there is no scope to remove windfall profits from the EU ETS, only redistribute them, so efforts should be focused on bringing the electricity price down.
UK Environment Ministry announced the day before that profits of the power sector are just taxable profits. This makes sense, but I believe that power traders can improve their CO2 market strategy and not just settle and pay the daily carbon price but wait for better times and decrease cost they pass through. Hence, more companies and CDM credits will enter the market: spot prices are already lower. General analysis shows that meeting Kyoto with global emissions trading is still less costlier than with national measures only.

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Prijsstijging op on-line CER auction Climex

Op de beurs van ACX-Change en het Nederlandse New Values zijn vorige week 180.000 ton aan CO2-creditsverkocht (zie persbericht). Er waren 500.000 rechten aangeboden, die afkomstig zijn uit vijf CDM-projecten in de landen Brazilië, India en Vietnam. De prijzen die op de veiling werden geboden, liepen uiteen van EUR 5,05 tot EUR 11,75 per ton, afhankelijk van de projectspecificaties. De volgende veiling vindt plaats op 17 maart. Informatie: Sascha Bloemhoff, CER auctions manager New Values: +31 (0)30 2919940; Fax: +31 (0)30 2919833; Email: sascha.bloemhoff@newvalues.net .

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Netherlands puts figure on long term emissions plan

A report by the energy research centre (ECN) and the advisory planning bureau (MNP) in the Netherlands has estimated that the cost of reducing its greenhouse gas emissions from an estimated 251 MtCO2e in 2020 to 180 MtCO2e would cost between €1.4 billion and €2.9 billion per year. The report, which was published today, examined the viability of achieving three separate targets – to reduce emissions to 220 MtCO2e, to reduce emissions to 200 MtCO2e and to reduce emissions to 180 MtCO2e by 2020. Current projections see emissions for 2020 at 251 MtCO2e.
“I think the figure is too high. First it is a flaw not to assess CDM, and then, you are only calculating the negative cost of the CO2, without extra benefits of measures," Jos Cozijnsen, an, a freelance emissions trading consultant told Point Carbon.

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Discussion on best way to reduce air emissions going on

All across Europe, the discussion on how to tackle ghg emissions from air travel is going on in waves. This week, it was the UK's turn again: Some called for an air travel tax instead of emissions trading, and Tony Blair hurried up to declare he was against any such policy and in favor of new technological developments for cleaner aircrafts (The Times online).

Meanwhile, BA declares that they are in favor of an emissions trading solution for air travel, but that it will of course have some impact on ticket prices (Planet Ark). Actually, this is a fair statement, because in the power sector, although everyone thought about it, noone admitted before the start of the EU ETS that power prices would rise.

BA also declared they offered an individual emissions offsetting solution on their website to all their passengers.

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Kyoto protocol "one year old"

Environmental NGOs today celebrated the first anniversary of the entry into force of the Kyoto protocol, and urged for stronger commitment and emission cuts.

Friends of the Earth's International Climate Campaigner Catherine Pearce:
"Countries are not even on track to meet even their modest Kyoto targets, despite growing recognition that we are already facing dramatic consequences as a result of climate change. If we have any hope of keeping temperature increases under control while we still have time, governments around the world must do more to improve energy efficiency, clean up our use of fossil fuels and invest more in sustainable, safe renewables."

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US: Global warming on the rise?

Slowly, a change is taking place in the US. After years of what many felt as repression and censorship by the White House, global warming is creeping up the agenda again in the media. One examples coming up soon:

On May 26th, Paramount will release a documentary titled "An Inconvenient Truth" in US cinemas. The film is based on former Vice President Al Gore's lecture circuit of the same name, treating about the link between carbon emissions and global warming (long denied by George W Bush and the US oil lobby). A book version will be published the same day and should raise considerable public awareness for climate change in the US (see Reuters.)

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Energiegipfel im Kanzleramt Anfang April

Anfang April lädt Kanzlerin Angela Merkel zum Gespräch der Energiebosse ins Kanzleramt. Zu besprechen gibt es genug, Themen mit Sprengstoff für die Koalition und für die Wirtschaft:

• An erster Stelle steht wohl der Atomausstieg, aus dem CDU und einige energieintensive Unternehmen wieder aussteigen wollen, währen die SPD daran festhält und die Energiekonzerne sich damit leidlich eingerichtet haben.
• Der Emissionshandel wird für reichlich Zunder sorgen, zumal die Politik sich nun über Effekte der Kostenüberwälzung wundert, die nach ökonomischer Theorie schon lange vorhergesagt und sogar zum Zwecke des Klimaschutzes gewünscht waren. Nicht bedacht hatten die Ökonomen aber wohl die Frage der Gerechtigkeit der Lastenverteilung zwischen Energieerzeugern und Energieverbrauchern, und darum sollte es in dem Gespräch vorrangig gehen.
• Dazu passt als weiterer Diskussionspunkt die mangelnde Kostentransparenz der Energiekonzerne, neben dem Emissionshandel im Erzeugungsbereich vor allem durch hohe Netznutzungsgebühren. Hier hat die Politik mit der Novelle des Energiewirtschaftsgesetzes schon Vorarbeit geleistet und hofft nun auf den Erfolg der Arbeit der Bundesnetzagentur.
• Schließlich werden die erneuerbaren Energien Thema sein; sie sollen bis 2020 auf 20 Prozent Anteil an der Stromerzeugung verdoppelt werden. Ob die CDU bei dieser Gelegenheit zu neuem Angriff gegen die Windkraft bläst, bleibt abzuwarten.

Siehe der Hintergrundartikel in der Frankfurter Rundschau.

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NAP-Streit k�nnte sich von der Wirtschaft in die Politik verlagern

FAZ.net titelt, dass sich in der Koalition ein Streit über den kommenden NAP anbahne. Während die SPD einer Versteigerung von 10% der Zertifikate aufgeschlossen gegenüberstehe, sei man in der CDU reserviert. Katherina Reiche, stellvertretende Vorsitzende der CDU/CSU-Bundestagsfraktion, hält eine Auktion nur für sinnvoll, wenn die Auktionserlöse in einen dezidierten Entlastungsfonds für energieintensive Unternehmen fließen würden. Ansonsten bestehe die Gefahr, dass "die Energieversorger die Mehrkosten wieder auf die Strompreise packen". VDEW-Hauptgeschäftsführer Eberhard Meller hat dieselbe Sorge.
Diese Befürchtung freilich ist ökonomisch unbegründet: Die Kostenüberwälzung ist unabhängig davon, ob es sich um Opportunitätskosten oder tatsächliche Kosten handelt. Allerdings: Sosehr der Energiekostenanstieg schmerzt, er ist tatsächlich "systembedingt und zwingend notwendig", (Meller in der FAZ), wenn der Emissionshandel langfristig zu einer Senkung des Energieverbrauchs und damit zur Emissionsminderung führen soll.

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Increased EU allowance shortage in 2007: pressure on CDM to get linked faster

A new report based on a new CO2 forecasting model by Markedskraft warns power companies and EU governments for an increased CO2 allowance shortage in 2007. The background for this warning is the extended draught in the Alpes, Spain and Scandinavia. This leads to less available hydropower than anticipated. If replaced by coal, this shortfall would add 36 Mton CO2. The total allowance shortage can be as large as 174 to 220 Mton CO2, depending on acceleration of investments, availability of CERs and corrections to Allocations. The Climate Summit in Montreal, December 2005 decided to teststart the linkage of the International Transaction Log (ITL) to the National Emissions Registries. This is necessary for the transferral of CERs from Bonn, in May 2007. It should than be possible to have the ITL up and running in April 2008, just in time for companies to use CERs for compliance in the first allocation period 2005-2007. The report will put pressure on the UN to ensure this, and even to get ready earlier.

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UN: Kyoto countries can reach emission goals

Countries that have signed on to the Kyoto Treaty can still reach the United Nations' 2012 targets for reducing emissions said to cause global warming, but they have to boost their efforts, the UN climate change agency said Tuesday. The Kyoto countries are "on their way to lower their emission levels by at least 3.5% below 1990 levels" and with more effort they can reach the overall goal of 5% below 1990 levels, said Richard Kinley, acting head of the UN Framework Convention on Climate Change. See press release.

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Van Geel: eerst investeren in energiebesparing, duurzaam en CO2-opslag

Staatssecretaris Van Geel sluit niet uit dat Nederland een extra kerncentrale gaat bouwen. In het tv-programma Buitenhof noemde de bewindsman kernenergie in ons land 'een heel serieuze optie'. (persbericht VROM 13/2)
Zie ook 'Van Geel nuanceert uitspraken (FD 15/2)
Om aan de klimaatdoelstellingen voor 2020 te voldoen, is het in de eerste plaats nodig dat Nederland kiest voor energiebesparing en het gebruik van meer duurzame energie. Daarnaast echter moet een keuze worden gemaakt tussen kerncentrales of kolencentrales. Van Geel wil daarbij geen voorkeur uitspreken. 'Beide opties hebben grote nadelen, maar je kunt geen van beide opzij schuiven.' Wel verbindt de staatssecretaris aan beide opties voorwaarden. Mocht de keuze vallen op kolencentrales, dan moet het broeikasgas kooldioxide in de grond worden opgeslagen of moet er sprake zijn van kolenvergassing. Anders namelijk zouden problemen ontstaan met de luchtkwaliteit.

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Australia: Discussions on possible links between coal lobby and government

After allegations by ABC's television program, a debate is going on in Australia on whether coal lobbyists have inappropriately close access to government information and whether they may influence government policy too much.

The Australian Coal Association (ACA) resolutely denied this and accused the TV program of "shoddy and biased journalism."

After conducting interviews with coal industry lobbyists, Dr Guy Pearse, a former Liberal staffer and industry lobbyist, reported that several of them had admitted writing cabinet briefings, which are usually sourced in government departments.

Opposition parties kept attacking the government on this. Green senator Christine Milne: ""Every time I ask scientists, particularly people involved in CSIRO, or in the research centres around the country ... it's clear they're afraid to speak out publicly because of the ramifications of government policy in terms of whether their research will continue to be funded or whether their work will be published".

(Source: The Sydney Morning Herald.)

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Global warming by numbers

See the chilling statistics by Environmental Defense

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Der Klimawandel in Zahlen

Bei dieser Statistik von Environmental Defense kann einen das Frösteln packen...

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Poll: a next US President is expected to join the Kyoto club again; new poll on windfall profits

We have hold an on-line poll to see what the public felt on the chance of the US to implement CO2 policy. We had it on-line the months before and after the Climate Summit in Montreal, December 2005. Surprisingly, people expect the US - with a new President and Congress that is - to not only implement CO2 caps but even to rejoin the Kyoto Protocol. Though the official stance is still a clear rejection, we see also much support in the public, amongst States and cities to implement Kyoto-like mandatory systems. And in the EU US companies operate succesfull under the EU ETS. And now and than a Senator calls for international climate negiotiations (here).

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Senator Lugar tells UN Security Council that US should return to climate negiations

In a major address today before the U.N. Security Council, Senator Richard G. Lugar, Chairman of the U.S. Senate Foreign Relations Committee, called for US to return to negotiations under the Framework Convention on Climate Change to achieve a comprehensive international approach to global warming.

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German coalition favours emissions trading for airlines

The new German government coalition is in favour of the EU Commission's plans to include air travel into the European ETS. "We need to achieve more efficiency and economies in air travel, too", the German newspaper taz cited the environmental speaker of the Social Democrat Party in the German Parliament, Ulrich Kelber. Katherina Reiche of the Christian Democrats agrees, stressing at the same time that extraeuropean airlines need to be included in the trading syste, too, to avoid competitive distortions and avoidance strategies by shifting flights to destinations outside the EU (see the press release by the CDU/CSU-Bundestag group).

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Gro�e Koalition unterst�tzt Emissionshandel f�r die Luftfahrt

Die große Koalition unterstützt die Pläne der EU-Kommission, den Flugverkehr in den Emissionshandel einzubeziehen. "Auch beim Flugverkehr müssen wir mehr Effizienz und Sparsamkeit erreichen", zitiert die taz unter Berufung auf das Handelsblatt den umweltpolitischen Sprecher der SPD, Ulrich Kelber. Katherina Reiche von der CDU-Bundestagsfraktion pflichtet bei, erklärt aber gleichzeitig, dass auch außereuropäische Fluglinien in den Handel einbezogen werden müssten, um Wettbewerbsverzerrungen und Vermeidungsstrategien durch Verlagerung des Luftverkehrs zu vermeiden (siehe die Pressemitteilung der CDU/CSU-Bundestagsfraktion).

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Ex KNMI-directeur:"Kyoto is onzin en KNMI is slechte adviseur"

"Regering en media varen ten onrechte blind op het Koninklijk Nederlands Meteorologisch Instituut (KNMI)", zegt ex-KNMI-directeur Henk Tennekes deze week in een interview met het weekblad Elsevier. Hij vindt het wetenschappelijk niveau van het KNMI onvoldoende om er het kabinetsbeleid op het gebied van klimaatverandering op te baseren. ,,Het zijn ambtenaren en geen wetenschappers'', aldus Tennekes, die 13 jaar onderzoeksdirecteur van het instituut was. ,,Kyoto is onzin'', zegt hij over de wereldwijde afspraken die zijn gemaakt om de uitstoot van broeikasgassen te beperken. Commentaar:

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State of the Union: reduce oil import in 2025 with 75%

In this years' State of the Union President Bush calls for an increase of the use of hydrogen, renewables, biofuels, zero emissions coal power plants etc. with the aim to reduce the import of oil from the Middle East in 2025 with 75%! Maybe the OPEC, that wanted compensation from oil export reductions because of Kyoto Policy, now prefer to bring the US back in the Kyoto Protocol again. Hence it seems that OPEC will feel more threats from a US staying outside, when the US will indeed reduce the import with 75%.

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Global CO2 trade would generate $3.64trn.

UNDP launched an idea in Davos (World Economic Forum) to manage all worlds problems in one stroke, the New Public Finance, that would bring total revenues of global $7 trillion - $7,000,000,000,000 - of previously untapped wealth. As part of the plan, Global CO2 trade would bring $ 3,64 trillion, following the example of the EU CO2 trade system. The only thing we need is to bring the US on board of such a system, which seem currently not the case. But it shows the potential of CO2 trade.

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Climate change debate switches from whether it is humancaused to fear of "tipping point"

The big scientific debate on climate change is no longer about whether human-caused global warming is occurring but whether it is happening so quickly that it will reach a point in a few decades where any action to reverse the change will be futile, The Washington Post reports. Many scientists believe it is crucial to cut greenhouse gas emissions in half within 50 years to prevent reaching this feared "tipping point.
In the mean time former US President Clinton told the gathering at the World Economic Forum that climate change was the world's No. 1 problem. Clinton also noted the importance of making progress on global inequality and the clash between the cultural and religious differences behind terrorism.

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Is Great Britain on track or not?

On Monday, DEFRA has released the final 2004 GHG emissions figures for the UK. The Government's view on the statistics is clear: "The UK remains well on course to meet its Kyoto greenhouse gas emissions reduction targets, figures published by Defra today show.", stressing that "emissions of the basket of six greenhouse gases fell by 14.6 per cent between the base year and 2004."

Based on the short term trend (increasing emissions since 2002), Friends of the Earth draws the opposite conclusion: "The UK Government is still failing to reduce greenhouse gas emissions."

Reuters puts the argument right: "Britain is on track to meet its Kyoto Protocol goals but likely to miss its own more ambitious targets on curbing emissions of carbon dioxide (CO2) by the end of the decade."

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GHG emissions cuts could be positive for California's economy

Two independent studies come to the conclusion that GHG reductions could be beneficial for California's economy, reports the LA Times. The studies were led by economists at UC Berkeley, and Washington based Centre for Clean Air Policy, respectively. In their reports, they "agree with a draft version of a state plan released earlier this month and reject concerns that curbing the gases that contribute to global warming would hurt the economy."
California is one of the 10 largest economies in the world and the 12th-largest producer of greenhouse gases.

A newly formed group called "Sustainable Environment and Economy in California", which includes representatives from the California Chamber of Commerce, farmers' federations, cement, petrol, rubber and automobile industry, wants to object, but is still searching its arguments. In the meantime, Alex Farrell from UC Berkeley, insists: "by acting now, California can gain a competitive advantage by becoming a leader in new technologies that will be used worldwide."
Sounds familiar to European ears, doesn't it?

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Bomen niet oorzaak klimaatprobleem; nog steeds deel van de oplossing

Schreven we eerder dat het belangrijk is waar bomen worden aangeplant, om bij te dragen aan de aanpak van het Klimaatprobleem (zie hier). Nu blijken bomen iets minder gunstig te zijn, maar nog duidelijk bij te dragen aan de oplossing. In de media werd een recente publicatie in Nature geinterpreterd als het einde van bosaanplant; ontbossing zou zelfs voordeling zijn. Nu geeft het Natuur en Mileu Planbureau een heldere analyse: bomen en planten stoten ook wat methaan aan, maar dat kan de bijdrage aan klimaatbeleid slechts met 1 tot 3% temperen. Bomen blijven, OK.
Zie site NMP

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Ex-EPA chiefs bash Bush on global warming

Six former heads of the Environmental Protection Agency — five Republicans and one Democrat — accused the Bush administration Wednesday of neglecting global warming and other environmental problems. “I don’t think there’s a commitment in this administration,” said Bill Ruckelshaus, who was the EPA’s first administrator when the agency opened its doors in 1970 under President Nixon and headed it again under President Reagan in the 1980s.
Russell Train, who succeeded Ruckelshaus in the Nixon and Ford administrations, said slowing the growth of “greenhouse” gases isn’t enough.
“We need leadership, and I don’t think we’re getting it,” he said at an EPA-sponsored symposium centered around the agency’s 35th anniversary. “To sit back and just push it away and say we’ll deal with it sometime down the road is dishonest to the people and self-destructive.”

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Controversial views on Asia Pacific Partnership meeting results

The inaugural meeting of the Asian Pacific Partnership on climate change ended last week with a declaration stressing the importance of fossil fuels -- oil, gas and coal -- and their continued use through the 21st century.

At the same time, the US energy secretary Samuel Bodman declared to be fully relying on the private sector devising more efficient technologies to reduce greenhouse gas emissions (CNN, SciDevNet , Planet Ark and Nature.

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Preise f�r Erdgas, Strom und CO2 - wohin geht die Reise?

Russland zwingt die Ukraine in die Knie und erreicht eine Verdoppelung des Gaspreises. Problem der Ukraine: Fehlende Verhandlungsmacht aufgrund ihrer energetischen Abhängigkeit von Russland.

Gleichzeitig baut ein deutsch-russisches Konsortium eine direkte Gaspipeline durch die Ostsee, da Deutschland sein Klimaschutzziel nur mit viel (russischem) Erdgas erreichen kann. Fuel-Switch von Kohle zu Gas lautet die Zauberformel.
Dabei gilt: Gaspreis hoch = wenig Fuel-Switch => CO2-Preis hoch.

Weiterhin ist der Gaspreis ist an den Ölpreis gekoppelt, und der wird nach Ansicht der meisten Experten neue Rekordhöhen erreichen (siehe mein Beitrag vom 29.12.2005).

Dank der Energiepolitik der letzten Wirtschaftsminister liegt die Gas- und Stromversorgung in Deutschland in der Hand ein- und derselben Konzerne. Gegen deren Strombereiche ermittelt das Bundeskartellamt wegen des Verdachts, sich ungerechtfertigt mit Hilfe des Emissionshandels zu bereichern (vgl. Süddeutsche Zeitung vom 12.1.2006 und FAZ).

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Nuclear power gaining strength again

After the Chernobyl disaster in 1986, nuclear power seemed to be out of fashion. Even in France, where 80% of electricity comes from nuclear power stations, planning and building of new plants came to an end in the 1990s.

Now, in the light of climate change, oil and gas shortage, nuclear options are back on scene:
French president Chirac announced a new nuclear initiative in his New Year's speech, to get more independend from fossil fuels, as Reuters reports: "The (railway firms) RATP and the SNCF should no longer consume a drop of petrol in 20 years time." Electricite de France (EdF) plans to build a third generation reactor, the 1,600 MW European pressurized water reactor (EPR) by 2012.
Finland has started construction of a (heavily subsidised) EPR prototype, to be delivered by Siemens and Framatom.
More plant are to be ordered by several East European countries.
Switzerland and Sweden stopped their plans to close down all their nuclear plants by the end of the next decade, as will probably do Belgium.
And finally, in Germany, Christian Democrats reopen the debate on the nuclear phase-out contract that was closed by the former government with the plant operators. Social democrats are still fiercely fighting back the discussion, but if gas prices keep rising, they may loose ground (see also Reuters UK on the issue).

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Asia Pacific Partnership: superfluous and without impact

The Asia-Pacific Partnership on Clean Development and Climate in Sydney January 11-12 cannot be seen as a threat to the international efforts to tackle climate change. The outcome of the inaugural ministerial meeting in Sydney proves that it is superfluous. It even underlines the importance of carbon trading as incentive for companies to become active on greenhouse gas control. In a communique at the end of the talks, the six nations did not set any targets to cut greenhouse gases. Instead, they stressed the need for business to help find ways of cutting greenhouse emissions without hurting fossil fuels or impacting on the growing demand for energy, particularly in China and India.

In my view the whole approach - technology rather than emission caps - is wrong. The fact that the 6 participating countries have half of global emission, gathered in Sydney was for me not a matter or power, but a matter of the lack of that.

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Symposium on �Global Online Carbon Trading: Managing Opportunities and Expectations for India CDM Projects�

Asia Carbon Exchange International B.V. Netherlands and New Values, Netherlands in co-operation with the Indian Carbon Market Group (ICMG) are orgasing a half day symposium on “Global Online Carbon Trading: Managing Opportunities and Expectations for India CDM Projects”. Participation is by invitation only. For more information.
* TUESDAY,17TH JANUARY 2006 :MUMBAI;
* WEDNESDAY, 18TH JANUARY 2006 :NEW DELHI

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What can we expect from the Asia Pacific meeting on Climate Change?

This week, the 10th/11th, Ministers from Australia, the US, China, India, Japan and South Korea will meet in Sydney for the inauguration of the Asia-Pacific Partnership for Clean Development and Climate (APC) to discuss climate change and technology, including capture and storage of CO2. The July 2004 APC Vision Statement said it "will share experiences in developing and implementing our national sustainable development and energy strategies", will develop a non-binding compact" and it is "consistent with and contribute to our efforts under the UNFCCC and will complement, but not replace, the Kyoto Protocol". The White House said previously it is more interested in technology to reduce emissions than in the national emission caps from the Kyoto Protocol, which they see as One Size that does not fitt all. But does the PCA provide emission reductions?
In my view the PCA is more semantics and a strategy to kill the Kyoto process. Because the Montreal Summit on climate change in December agreed to extend the carbon market, to cooperate on CO2 storage and to improve developing country involvement in an improved CDM. But the PCA does not provide a mechanism to stimulate industry to adopt technologies. The Kyoto market does Shell for example said it can live with and benefit from the CO2 caps. It has set-up a group of Chiefs of Science and a 'Mr CO2', mr Sweeny, to work in particular on CO2 storage. GE, the largest US company, said it's biggest market is the EU, because of the ambitious environmental rules.

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Ist das Kyoto-Protokoll lebendig oder tot?

Einige Kommentatoren fragten dies zum Ende dieses Jahres voller guter und schlechter Nachrichten in der Klimapolitik. Um einige Meilensteine nochmals zu nennen:

• das Kyoto-Protokoll trat in Kraft


• das EU-Emissionshandelssystem startete


• Wirbelstürme in den USA und Mittelamerika zeigten, dass der Klimawandel tatsächlich Gefahren mit sich bringt


• die EU prüft neue Wege zur Reduktion der Treibhausgase im Verkehrsbereich und darüber hinaus


• Tony Blair sorgt mit Aussagen zu Klimapolitik und Wirtschaftswachstum für Verwirrung, und redet mit George W. Bush "Klartext" über Klimapolitik


• US-Bundesstaaten unterzeichnen ein Abkommen über ein regionales Emissionshandelssystem für CO2


• die COP/MOP in Montreal endet ohne konkrete Verpflichtungen.

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Is Kyoto alive or dead?

Some news comments asked this question at the end of a year full of good and bad news on climate change policy. To mention just a few milestones,

• the Kyoto Protocol entered into force


• the EU ETS started


• hurricanes in the US and Central America showed that global warming can be dangereous


• the EU looks at new GHG cutting options in transportation and beyond


• Tony Blair causes confusion with his statements about climate change and economic growth, and talks "frankly" to George W. Bush about climate change policy


• US states sign an agreement for a regional GHG ETS


• the COP/MOP in Montreal ends without a binding commitment.

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USA zwingen EU, Emissionshandelspl�ne f�r Luftfahrt zu �berdenken

Nachdem sich die EU-Umweltminister am 2. Dezember auf die nähere Untersuchung der Option geeinigt hatten, alle Flüge mit Start von einem EU-Flughafen in den Emissionshandel einzubeziehen, könnten sie nun zum Rückzug gezwungen werden. Tatsächlich würde der Vorschlag auch US-amerikanische Fluggesellschaften umfassen - was für die US Federal Aviation Administration (FAA) “ernste und grundlegende Fragen" aufwirft. Sie sieht eine Verletzung der Konvention von Chicago aus dem Jahr 1944, die Fluggesellschaften auf internationalen Flügen von Steuerzahlungen befreit. Das Handelssystem sollte daher auf Flüge innerhalb der EU begrenzt werden (und somit für die meisten US-Gesellschaften irrelevant sein).

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US force EU to rethink air emissions trading plans

After the EU environment ministers agreed on December 2 to look into the option of having all aircraft departing from EU airports to be included into the emissions trading system, they may now be forced to back up on it. Indeed, the proposal would also included American carriers - which the US Federal Aviation Administration (FAA) has “serious and fundamental questions” with. It claims that this proposal would breach the 1944 Chicago Convention, which exempts airlines from paying tax on international flights. Rather, the scheme should be limited to flights departing and landing within the EU (and therefore not be applicable to most US carriers).

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Asia-Pacific Partnership trifft sich n�chste Woche

Vertreter der sogenannten "Asia-Pacific Partnership", dem Klimapakt von USA, Australien, China, Indien, Japan undSüdkorea, treffen sich nächste Woche in Sydney, um die Möglichkeiten für private Investitionen zur Reduktion von Treibhausgasemissionen zu erörtern. Die Mitglieder der Initiative sind für nahezu die Hälfte der weltweiten Treibhausgasemissionen verantwortlich, mit China und Indien als den größten Wachstumsmärkten. Alle betonen, dass die Initiative das Kyoto-Protokoll "verstärken", und nicht ersetzen soll.

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Locatie CO2-bosaanplant cruciaal

Teveel CO2 tijdens de Kerstvakantie uitgestoot? Dan maar even snel een boompje of –tig ter compensatie aanplanten. Maar pas op waar je dat doet: zie P-Plus 3 januari.

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W�lder als CO2-Senken verbrauchen Wasser

Intensive Waldplantagen können die lokale Verfügbarkeit von Wasser um bis zu 50 % reduzieren, ergab eine internationale Studie über den Nutzen von Waldpflanzungen als CO2-Senken. Bodenversalzung kann ein weiteres Problem sein.

Die Studie, an der unter anderem Damian Barrett von australischen CSIRO beteiligt war, wurde in Science veröffentlicht. Sie zeigt, das die Welt nicht so einfach ist, wie manche sie vielleicht gerne hätten. Aus der Schlussfolgerung des Berichtes: "Mit steigender Nachfrage nach Landflächen für Pflanzungen wird eine umfassendere Umweltplanung notwendig, um Probleme zu vermeiden und erfolgreiches und nachhaltiges Flächenmanagement zu garantieren. Eine Möglichkeit dazu ist die Werteabwägung anderer Ökosystem-Nutzen oder -Schäden mit dem Nutzen der CO2-Senkenwirkung. Die Bewertung von Ökosystem-Veränderungen macht große Fortschritte, und die Märkte öffnen sich für einige neue Dienstleistungen dieser Art. Der Zusatznutzen und die Nachteile von Pflanzungen müssen berücksichtigt werden, wenn Handelsverträge ausgehandelt werden."

Siehe der Artikel dazu in The Australian und der vollständige Bericht in Science.

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Forests as carbon sinks soak water

Intensive forest plantations can reduce local water supplies by up to 50 %, according to an international study on the use of forest plantations as carbon sinks. Furthermore, soil salinization can be a problem.

The study was co-authored by Damian Barrett and published in Science. It shows that the world is not as simple as some people might like it to be. From the report's conclusion: "As demand increases for land to accommodate plantations, more comprehensive environmental planning will be needed to avoid problems and to manage land successfully and sustainably. One way to do this is to compare the value of other ecosystem services gained or lost with those of carbon sequestration. The field of ecosystem services valuation is becoming increasingly sophisticated, and markets are opening up for some other services. The co-benefits and trade-offs of plantations need to be taken into account when negotiating exchange agreements. "

See article in The Australian and the full report in Science.

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Think Tank: Europa verfehlt seine Kyoto-Ziele

Das britische Institute for Public Policy Research (IPPR) hat davor gewarnt, dass die meisten EU-Mitgliedsstaaten ihre Kyoto-Ziele zu verfehlen drohen.
Demnach sind nur Schweden und Großbritannien auf dem richtigen Weg.
Frankreich, Griechenland und Deutschland werden ihre Ziele verfehlen, wenn sie ihre bereits geplante Klimaschutzpolitik nicht umgehend in die Tat umsetzen.
Die zehn übrigen Staaten der früheren EU-15, insbesondere Irland, Italien und Spanien, werden ihre Ziele verfehlen, wenn nicht dringend Maßnahmen ergriffen werden.

Siehe die Berichte auf News.ch, Die Welt und BBC News.

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Think Tank: Europe will miss the Kyoto targets

Only Sweden and the UK are on track to meet their Kyoto targets, according to finding of the Institute for Public Policy Research (IPPR), a UK based think tank.
France, Greece and Germany will miss their targets unless they put into action their planned climate change policies.
The ten other countries of the former EU-15, above all reland, Italy and Spain, will miss their targets, unless urgent action is taken.

IPPR associate director Tony Grayling: "It is vital that EU countries keep their promises to cut pollution".

See article on BBC News.

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EU 'behind on Kyoto pledges'; 10 out of 15 miss targets'

See BBC article, based on a IPPR report.

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US Senate rejects oil drilling in Alaska

Yesterday, the US Senate voted against a President George W. Bush's plans to allow drilling for oil in the Arctic National Wildlife Refuge (ANWR). Or at least, they did oppose themselves to agree to it - detaching a corresponding provision from a packaged bill including fund increases for Iraq and Afghanistan troops. There was relief over the decision also in Canada, where the adjacent territory is classified National Park.

Oddly enough, Republican Senator Ted Stevens had included a provision to direct some of the money from the sale of oil-drilling leases to hurricane relief. His comment after the vote: "I'm going to every one of your states and tell them what you've done. None of you read the bill.'' (See quote on Bloomberg.) An obvious strategy to put moral pressure on his opponents - and a cynical one: Let's heat on climate change in order to get money to cope with its consequences?!

More information at The Toronto Star website.

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US-Senat lehnt �lbohrungen in Alaska ab

Gestern hat der US-Senat gegen Präsident George W. Bushs Pläne gestimmt, Ölbohrungen im Arctic National Wildlife Refuge (ANWR) in Alaska zuzulassen. Oder zumindest hat er sich geweigert, ihnen zuzustimmen, indem er eine entsprechende Vorlage aus einem Gesetzespaket herauslöste, in dem auch weitere finanzielle Unterstützung für die Truppen in Irak und Afghanistan beschlossen wurde. Auch in Kanada wurde die Entscheidung mit Erleichteurng aufgenommen: das angrenzende kanadische Gebiet ist Nationalpark.

Skurrilerweise hatte der republikanische Senator Ted Stevens das Vorhaben eingefügt, einen Teil des Geldes aus der Verpachtung der Ölbohrrechte in die Hurrikan-Hilfe zu stecken. Sein Kommentar nach der Abstimmung: "Ich ziehe durch jeden einzelnen eurer Staaten und erzähle ihnen, was ihr getan habt. Keiner von euch hat den Gesetzesentwurf gelesen." (Siehe das Zitat auf Bloomberg.) Ein offensichtliches Manöver, um moralischen Druck auf seine Gegner auszuüben - und ein zynisches: Heizen wir doch den Klimawandel weiter an, um mit den Erlösen daraus die Konsequenzen zu tragen zu können?!

Mehr Informationen auf der Webseite des Toronto Star, Kurzfassung unter Yahoo News.

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Sieben US-Bundesstaaten schlie�en Klimaabkommen - gegen Bush

Sieben Bundesstaaten im Nordosten der USA haben am 20.12. ein Abkommen zur Umsetzung der Regionalen Treibhausgas-Initiative (RGGI) unterzeichnet. Der Plan setzt unter anderem auf die Reduzierung des CO2-Ausstoßes bei Kraftwerken, insbesondere durch einen Handel mit Emissionsrechten. George Pataki, Gouverneur des Staates New York, sagte in einer Pressemitteilung, das Abkommen werde zur Senkung der CO2-Emissionen wie auch zur Entwicklung neuer Technologien beitragen, die die Abhängigkeit der USA von ausländischem Öl reduzieren.
Die beteiligten Bundesstaaten sind Connecticut, Delaware, Maine, New Hampshire, New Jersey, New York und Vermont. Auch andere Bundesstaaten können sich anschließen.

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Seven States Sign CO2 Plan in Break with Bush

On December 20, 2005, seven states announced an agreement to implement the Regional Greenhouse Gas Initiative, as outlined in a Memorandum of Understanding (MOU) signed by the Governors of the participating states. Those states are Connecticut, Delaware, Maine, New Hampshire, New Jersey, New York, and Vermont. See for the Agreement. Pataki, governor of NY, initiated RGGI in 2003. Pataki said in a statement on Monday that RGGI will curtail CO2 emissions and spur development of new technologies to reduce U.S. dependence on foreign oil.

"Essentially everybody (power plants) under RGGI will be short credits'' said Andy Ertel, president of Evolution Markets, a NY based emissions broker. "That will lend itself to being more of a project-oriented market rather than a domestic version of the European Union's market, in which participants trade a lot of pure allowances for carbon.'' Under RGGI, emissions of CO2 from power plants in the seven states beginning in 2009 would be capped at current levels of about 121 million tons until 2015. The states would then slowly reduce emissions, aiming for a 10% percent reduction by 2019.<

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COP/MOP low profile in German news

Whereas in previous years, the COPs always made it into the headlines in Germany, this year's talks had a hard time. Was it due to other import issues (CIA flights and abduction of a German citizen by the CIA, antisemitic statements by Iran's president, kidnapping of a German in Irak)? Was it because the Green Party is no longer in the government? Or was it simply because this year, the upcoming global climate change hit other countries (like the US, Switzerland and Austria) rather then Germany?

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Schwache COP/MOP-Berichterstattung in Deutschland

Während die Klimakonferenzen es in früheren Jahren immer problemlos in die deutschen Schlagzeilen schafften, hatten die diesjährigen Gespräche damit arge Mühe. Lag es an anderen wichtigen Themen (CIA-Flüge und -Entführungen, antisemitische Äußerungen des iranischen Präsidenten, Geiselnahme einer Deutschen im Irak)? Lag es daran, dass die Grünen nicht mehr in der Regierung sind? Oder einfach nur, weil der aufziehende Klimawandel dieses Jahr eher in anderen Ländern austeilte (wie USA, Schweiz und Österreich) als in Deutschland?

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Klimakonferenz einigt sich auf Weiterentwicklung des Kyoto-Protokolls

Die Umweltminister auf der UN-Klimakonferenz haben sich am Samstag darauf geeinigt, eine neue Verhandlungsrunde über die Gestaltung des Kyoto-Folgeabkommens nach dem Ende der ersten Phase im Jahres 2012 zu starten. Folgende Punkte aus der Beschlussfassung sind hervorzuheben. Die 157 Staaten, die das Kyoto-Protokoll ratifiziert haben, haben sich darauf verständigt:

• eine "Prozess zur Prüfung weiterer Verpflichtungen" für die entwickelten Länder über 2012 hinaus zu beginnen, wenn die erste Reduktionsphase für CO2 ausläuft.


• ein Treffen offizieller Vertreter zum Ideenaustausch im May 2006 anzuberaumen. Der Text ließ im Unklaren, welche Art von "Verpflichtung" sie diskutieren sollen.


• der Prozess "ohne Verzögerung beginnen soll und in einer zeitlich unbefristeten Ad-Hoc-Arbeitsgruppe der Mitgliedssteaaten des Kyoto-Protokolls geführt werden soll".


• "Die Gruppe sich bemühen soll, ihre Arbeit so früh wie möglich und rechtzeitig abzuschließen und Ergebnisse vorzuweisen, so dass keine zeitliche Lücke zwischen der ersten und zweiten Verpflichtungsperiode entsteht."

Einige Umweltgruppen sagen, dass die Vereinbarung zu kurz greift, weil kein fester Termin für das Ende der Gespräche beschlossen wurde oder irgendeine Bemühung enthalten wäre, verbindliche Ziele für Emissionsminderungen zu vereinbaren. Der WWF sieht es positiv: "Die Welt erwärmt sich für neue Klimaverhandlungen".

Lesen Sie mehr bei Reuters.

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Deutschland und Mexiko vereinbaren Zusammenarbeit beim Klimaschutz

Deutschland und Mexiko haben auf der Weltklimakonferenz in Montreal eine enge Zusammenarbeit beim Klimaschutz vereinbart. Bundesumweltminister Sigmar Gabriel und sein mexikanischer Kollege Jose Luis Luege Tamargo unterzeichneten am 8. Dezember 2005 ein Memorandum of Understanding (MoU), das die Verwirklichung von Klimaschutz-Projekten (CDM-Projekte) zwischen beiden Laendern im Rahmen des Kyoto-Protokolls erleichtern soll. Deutsche Unternehmen werden nun bei der Umsetzung von Projekten, die Mexiko im Rahmen der umweltfreundlichen Entwicklung verwirklichen will, eine grosse Rolle spielen koennen.
Das MoU kann hier heruntergeladen werden.

(Quelle: Pressemeldung des BMU)

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U.N. climate talks agree to push Kyoto forward

Dec 10 (Reuters) - Environment ministers agreed at U.N. talks on Saturday to begin a new round of negotiations to decide the shape of the Kyoto Protocol after the first phase ends in 2012. Following are highlights of their decisions.
The 157 countries that have ratified the Kyoto Protocol agreed:
-- to start "a process to consider further commitments" for developed nations beyond 2012, when a first phase of curbs on carbon dioxide runs out.
Officials would meet in May 2006 to discuss ideas. The text did not spell out what type of "commitments" they would seek.
-- The process "shall begin without delay and shall be conducted in an open-ended ad hoc working group of Parties to the Kyoto Protocol"
-- "The group shall aim to complete its work and have its results adopted ... as early as possible and in time to ensure that there is no gap between the first and second commitment periods."

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Wachsendes Interesse an CER-Auktionen

Tames Rietdijk (Bild) und Sascha Bloemhoff von New Values sowie Vinod Kesava von Asia Carbon Exchange präsentierten die Ergebnisse der CER-Auktion auf Climex vom November. Die Präsentation fand auf einer der Side-Events der IETA während der Klimakonferenz in Montreal statt.

Offensichtlich haben Verkäufer wie Käufer das Auktionskonzept, wie es von Climex/ACX vorgeschlagen wurde, gerne angenommen. Sie fanden, dass die Verhandlungen deutlich schneller vonstatten gingen als im gewöhnlichen CER-Handel. Die Verkäufer aus Nicht-Annex-I-Staaten erhalten mehr Raum für eigene Initiativen (unilateraler CDM), und der in der Auktion integrierte Treuhänder übernimmt die finanziellen Risiken.
Die Projektdokumentation, der Preisfindungsmechanismus und die Climex-Handelsplattform erzeugten sichere und vertrauenswürdige Rahmenbedingungen. Käufer und Verkäufer hatten erwartungsgemäß divergierende Preisvorstellungen, die zu einem großen Spread in der ersten Runde führten. In den nachfolgenden Runden führten die acht Angebote jedoch zu acht Transaktionen. Ein Bericht wird in Kürze erhältlich sein.
Die zweite CER-Auktion ist für den 16. Dezember angesetzt; neue Käufer haben Interesse an einer Teilnahme angekündigt.

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Growing interest in Climex' CER auctions

Tames Rietdijk (picture) and Sascha Bloemhoff (New Values) and Vinod Kesava (Asia Carbon Exchange) presented the results of the November CER auction via Climex. The presentation was given at one of IETAs side events during the Climate Summit in Montreal. It appears that sellers and buyers appreciated the concept of auctioning as prepared by Climex/ACX. They felt that negotiations took less time than otherwise. They thought that sellers on behalf of developing nations have more room for initiative (unilateral CDM), and the fully licensed custodian involved took care of the financial risks. And the price discovery, the documentation on the projects and the Climex platform created a secure environment. Buyers and seller had different CO2 price expectation leading to a large spread in the first trading round. Most projects received bids with prices ranging from 3.75 to 6.25 EURs. But in the next rounds the 8 bids led to 8 transactions. A report will be available soon. The second CER auction is scheduled for December 16; new buyers said they are interested in joining in next time.

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Deutsche Umwelthilfe ver�ffentlicht internes BDI-Papier zur Klimapolitik

Die Deutsche Umwelthilfe e. V. (DUH) hat auf ihren Internetseiten den internen Entwurf eines Strategiepapiers des BDI veröffentlicht, in dem angeblich eine Mehrheit der Verbände und Unternehmen die Abkehr vom Kyoto-Protokoll und der deutschen und europäischen Vorreiterrolle fordert. Besonders interessant sei nach Aussage von DUH-Bundesgeschäftsführer Jürgen Resch die Lektüre der verschiedenen enthaltenen Kommentare, die ein eher zerstrittenes Bild der verschiedenen Wirtschaftsverbände und Branchen in der Sache zeichneten, schreibt Franz Alt auf der Sonnenseite.

Mehr auf den Internetseiten der DUH.

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CO2 and methane concentration in the atmosphere on an all-time high

In two publications in Science last week, an international research team lead by the physical institute of the University of Bern presents new results of a deep ice coring in Antarctica. They have found that the atmospheric concentration of CO2 is 27% higher today then it was at its highest point before in the last 650 000 years. "The link between the temperature and CO2/Methane concentrations has been amazingly constant in the past. Only under the influence of humankind in the last centuries have the atmospheric greenhouse gases been increased above their natural limits," said Dr. Hubertus Fischer from the Alfred-Wegener-Institute in Bremerhaven.
The ice core that has been obtained in the EPICA project (European Project for Ice Coring in Antarctica) at Dome C in Antarctica dates back to 740 000 years BC and is the oldest ice core ever obtained.

See also this report on PlanetArk.

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CO2- und Methankonzentration in der Atmosph�re war noch nie so hoch wie heute

In zwei Publikationen in der Zeitschrift Science von letzter Woche stellt ein internationales Forschungsteam um Forscher des physikalischen Instituts der Universität Bern unter Beteiligung des Alfred-Wegener-Instituts für Polar- und Meeresforschung (Bremerhaven) neue Ergebnisse einer Eiskern-Tiefenbohrung in der Antarktis vor. Danach liegt die heute Konzentration von CO2 in der Atmosphäre um 27% höher als der höchste Stand in den letzten 650.000 Jahren. "Die Kopplung zwischen Temperatur und Kohlendioxid beziehungsweise Methan Konzentrationen in der Vergangenheit ist zeitlich erstaunlich konstant. Erst durch den Einfluss des Menschen in den letzten Jahrhunderten wurden atmosphärische Treibhausgase über ihre natürlichen Grenzen hinaus erhöht,“ wird Dr. Hubertus Fischer vom Alfred-Wegener-Institut auf der Sonnenseite zitiert.
Der in der Bohrung des EPICA-Projektes (European Project for Ice Coring in Antarctica) bei Dome C in der Antarktis gewonnene Eiskern ist mit bis zu 740.000 Jahren der älteste bislang gebohrte Eiskern überhaupt.

Siehe auch dieser Bericht auf PlanetArk.

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Neue Untersuchungen zeigen Abschw�chung des Golfstroms

Ein Forscherteam des National Oceanography Centre (NOC) von der britischen Southampton University hat Messergebnisse veröffentlicht, die eine Abnahme des in südlicher Richtung in den subtropischen Atlantik zurückfließenden Kaltwasserstroms um 30% zeigen, berichtete Nature. Es scheint einen 70-Jahres-Zyklus für Schwankungen der Stärke des Golfstroms zu geben, aber Michael Schlesinger, ein führender Experte für Klimamodelle und Meeresströmungen an der University of Illinois in Urbana-Champaign, kommentierte auf BBC Online: "Die Frage nach natürlichen Schwankungen ist genau richtig gestellt," sagte er der BBC News Webseite, "aber die jetzigen Messungen liegen nicht in der natürlichen Phase."

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New investigations on gulf stream weakening

A research team from the National Oceanography Centre (NOC) at Britain's Southampton University has published results of measurements showing a 30% decline of the southbound cold water stream returning from subtropical regions in the northern Atlantic ocean, reported in Nature. There seems to be a 70-years-cycle of varying guld stream strengths, but Michael Schlesinger from the University of Illinois at Urbana-Champaign, a leading expert in models of climate and ocean circulation, commented on BBC Online: "The variability question is the right one to ask," he told the BBC News website, "but the phasing is wrong."

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EU-Kommission sieht die EU auf dem richtigen Weg f�r Kyoto

Die EU-Kommission hat die Ergebnisse eines Berichtes veröffentlicht, wonach die EU ihre Kyoto-Emissionsziele erreichen wird. Er beruht auf Prognosen und sagt für 17 der 25 EU-Mitgliedsländer eine Erfüllung ihrer Minderungsziele bie 2010 voraus. Gleichwohl sind weitere Maßnahmen notwendig, um das Gesamtziel zu erreichen, und nicht jeder Staat ist wirklich auf dem richten Weg. Vor allem setzt die Prognose massiv auf den Einsatz der flexiblen Mechanismen. Und wenn man genau hinschaut, sieht man, dass die "alten" EU-15 ziemlich weitab vom Pfad sind: die Minderungsprognose beträgt nur 1,6% von 1990 bis 2010 mit den derzeit beschlossenen Maßnahmen, was sich mit zusätzlichen nationalen politischen Anstrengungen und Beschlüssen auf 6,8% erhöhen ließe, und auf 9,3% mit Hilfe der Kyoto-Mechanismen. Offensichtlich steckt in den Statistiken viel "heiße Luft" von den neuen Mitgliedsländern, so wie wir es auch von den deutschen Emissionsminderungsstatistiken gewohnt sind!

Siehe die Pressemitteilung der Kommission.

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EU Commission says EU on track for Kyoto targets

The EU commission has published the results of a report stating that the EU is going to meet its Kyoto targets. It is based on projections and foresees 17 of the 25 EU member countries to meet their reduction objectives by 2010. However, further action is needed to actually meet the overall target, and not every country is really on track. Especially, the forecast heavily relies on the use of flexible mechanisms. And if you look closely, you will see that the "old" EU-15 are pretty far off track: projected reductions of only 1.6% from 1990 until 2010 with the policies and measures currently decided on, which would be brought up to 6.8% with additional domestic policies and 9.3% using the Kyoto mechanisms. Obviously, there is a considerable amount of "hot air" from the new accession countries in the statistics, as it used to be with the German emission reduction figures!

See the Commission's press release.

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Side event bei der COP/MOP: Liquidit�t durch Online-CER-Auktionen schaffen

IETA organisiert zahlreiche Side-Events beim Klimagipfel in Montreal. Auf einem davon werden Vinod Kesava von Asia Carbon International und Tames Rietdijk von New Values das Konzept der Online-Auktion von CERs vorstellen (Mittwoch, 7.12., 10-12 uhr). ACX and CLIMEX sehen ausreichende Liquidität als essentiell, jedoch am Anfang eines neuen Marktes schwer zu erreichen. Daher werden verschiedene Verfahren zur Erreichung von Liquidität entwickelt. ACX und Climex sind zu dem Schluss gekommen, dass der beste Startschuss für den CDM-Markt im Blick auf CER-Handel eine Auktion von CERs zwischen den Marktteilnehmern des EU-Emissionshandels und CDM-Projektentwicklern in Asien ist.

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COP/MOP nimmt formal die Kyoto-Regeln an

Die COP/MOP in Montreal hat die (meisten) Regeln zur Umsetzung des Kyotoprotokolls formal angenommen. Viele dieser Regeln wurden eigentlich auf der COP in Marrakesh 2001 verabschiedet, mussten aber noch formal von allen Kyoto-Teilnehmern angenommen werden, nachdem das Protokoll in Kraft getreten ist. 21 Abschnitte wurden angenommen, der Abschnitt über die Erfüllung der Emissionsreduktionsziele ist jedoch noch in der Diskussion: Saudi-Arabien möchte ihn durch eine Vertragsänderung, die von allen Staaten ratifiziert werden muss, annehmen lassen. Jennifer Morgan vom WWF kommentierte, dass Saudi-Arabien als Verbündeter der USA auftrete, die selbst nicht Mitglied des Kyoto-Protokolls sind. Dies zeige sich daran, dass es jede Diskussion über die Perspektive nach 2012 kategorisch ablehne, wird sie von Reuters wiedergegeben.

Lesen Sie dazu auch die ausführlichere Meldung von Jos Cozijnsen.

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COP/MOP formally adopts the Kyoto rule book

The COP/MOP in Montreal formally adopted (most of) the rules on how to implement the Kyoto protocol. Many of these rules where actually agreed on at the COP in Marrakesh in 2001, but had to be formally approved by all Kyoto participants ones the protocol has come into force. 21 sections have been approved, but the section on compliance is still subject to discussion: Saudi Arabia wants it to be approved by an amendment to be ratified by all nations. Jennifer Morgan from WWF commented that Saudi Arabia was an ally of the United States, which is not a member of Kyoto, in opposing any discussion of what to do after 2012, according to Reuters.

See also the more comprehensive posting by Jos.

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State of Emerging Global Greenhouse Market

(Reuters, Dec 5) Developers of greenhouse gas markets already launched in Europe and planned in other regions of the world hope one day to form links between the markets to help reduce emissions of heat-trapping gases.
At the UN's climate talks in Montreal that run through Dec. 9, industry leaders are saying differences between any regional markets would have to be ironed out before substantial trade could take place.

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Climate Summit: progress on rules and registries for global carbon trade

After a week of plenaries, informal contact groups, side-events we can already call this summit positive; we didn't expect an agreement on future regimes yet. Some of the (draft) results:
- adoption of the Marrakech Rulebook, providing and enacting the rules for the global carbon market, JI, CDM, monitoring and verification (see press release);
- the International Transaction Log, needed to transfer CERs from the CDM Registry to National Registries and AAUs between registries will be tested as from May 2006, enabling its functioning as from April 2007. This is in time to make use of CERs in the first EU ETS period (see concept conclusions).

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Aviation part of the EU ETS; not many details yet

The political decision has been made by the European Environment Ministers (Dec 2) that the best way to address greenhouse emissions from aviation is to include that sector in the EU ETS. The Commission will deliver a proposal end of 2006. Currently aviation emissions are 3% of overal EU emissions, but it is growing fast. Many say that international aviation emissions are not included in the Kyoto Protocol (domestic flight do). But that is only because there has been no decision made how to devide international emissions between two countries. As soon as that is done; they ARE included.
The EU acknowledges that the preferred way is to have ICAO deal with it; that is still EU's aim, but the EU wants to go a bit faster. But how fast will this be?

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Side event at Climate Summit: Creating Liquidity through an On-line Auction of CERs

IETA organises many side-bar events at the Climate Summit in Montreal. On one of them Vinod Kesava from Asia Carbon International and Tames Rietdijk from NewValues will present the concept of On-line Auction of CERs (Wed 7 Dec 10-12 hr). ACX and CLIMEX understand that sufficient liquidity is important, but difficult to establish in the beginning of a new trading system. Therefore, different means are developed to stimulate liquidity. ACX-Change and Climex decided that the best way to jumpstart the CDM market in terms of CER trading isto set up an auction of CERs between the market participants of the EU ETS a CDMproject developers in Asia.

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Carbon exchanges launch online CER auction (Argus)

(Nov 29) Carbon exchanges launch online CER auction Some 130,000t CO2e worth of emissions credits were sold in eight transactions in the world’s first online auction of CERs (certified emissions reductions), from clean development mechanism (CDM) projects on 25 November. The bids from the five potential buyers ranged from €3.75/t to €6.25/t.
The auction was the first of the “ACX-Climex “ CER auctions, arranged by Dutch carbon exchange New Values and the Asia Carbon Exchange (ACX-Change), after they agreed to develop an exchange platform for CER trade earlier this year. “We are satisfied that this first auction was such a success and that there is clearly an interest for CDM projects as a defined channel for acquiring emissions rights. ACX-Change is constantly aggregating more CERs arising from CDM projects and our online trading model is an excellent and transparent way to find the best possible price for the CERs,” said Vinod Kesava, chief operating officer of the Asia Carbon Exchange.

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Klimaattop Montreal: voortgang regels en registers voor mondiale emissiehandel

Na een week van plenaire vergaderingen, contact groepen, side-events kunnen we zeggen dat het een goede vergadering lijkt te worden. Naast de gebruikelijke loopgraven (VS wil geen emissie-afspraken voor 2012 maken; ontwikkelingslanden willen eigenlijk geen verplichtingen; EU wil uiterlijk 2008 afspraken over vervolg Kyoto) is er een aantal belangwekkende zaken gebeurd (zie hier voor interessante verslaglegging van IISD):
- het zgn. Marrakech Rulebook is aangenomen; hiermee zijn de formele regels over de mondiale CO2-markt, JI, CDM en monitoring en verificatie van kracht geworden (zie persbericht);
- het International Transaction Log, nodig om CERs van het CDM Register, naar Nationale Registers te kunnen overdragen zal vanaf mei 2006 getest worden zodat het vanaf april 2007 kan functioneren. Op tijd om nog in de eerste EU-emissiehandelsperiode van CERs gebruik te kunnen maken (zie concept conclusies Montreal).

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Wat kunnen we van de Klimaattop in Montreal verwachten (28 nov -9 dec)?

Meer dan 150 landen, duizenden journalisten en lobbyisten van milieu-, bedrijven- en derde wereld-organisaties zijn voor 2 weken Klimaattop in Montreal, Canada samengekomen voor een vergadering van de Klimaatverdrag en van het Kyoto Protocol. Wat kunnen we er van verwachten?
- de EU wil de regels omtrent het Protocol officieel vastleggen, monitoring en handhaving regelen, het CDM (markt voor CO2-projecten in ontwikkelingslanden) soepeler laten lopen;
- de EU wil weten hoe we bindende CO2-afspraken voor na 2012 (post-Kyoto) gaan maken; een procedure-afspraak is voldoende;
- de VS wil geen CO2-markt meer na 2012, geen bindende CO2-beperking maar ziet het heil in vrijwillige technologie-afspraken;
- Engeland, huidig EU-voorzitter, hoopt - tegen beter weten in - dat de VS en EU het ergens eens over kunnen worden; maar een Kyoto-'lite' is niet zinvol.
- en Gastheer/voorzitter Canada kan nu geen ijzer met handen breken: juist vandaag is de regering gevallen!
- Ontwikkelingslanden willen met de VS meedoen, als die technologie overdraagt, maar ook met de EU en het Kyoto-protocol; want het CDM brengt duurzame investeringen; en men vreest de klimaatveranderingen: denk aan de Eilandstaten en ook droogtes;

- 10 ontwikkelingslanden, o.l.v. Papoea Nieuw Guinea hebben een voorstel gedaan om met klimaatbeleid te helpen door de snelheid van ontbossing in de tropen drastisch terug te brengen, in ruil voor CO2-credits. Dit vind ik het interessantst op de top. Ontbossing is nu 25% van alle emissies; tegengaan levert 80% van de Kyoto-reductie op. En als we de ontwikkelingslanden betalen voor het terugdringen is dat evenveel geld als nu ontwikkelingsgeld; het is een manier om hen bij CO2-afspraken te betrekken;
- de IPCC presenteert een rapport over CO2-opslag. Het potentieel is zo groot dat het CO2-afspraken voor na 2012 zal vergemakkelijken. Nederland heeft in het Noorden en de Noordzee goede opties.

[onder] Canadees Milieuminister en Top-voorzitter Dion, met activist van WNF

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No rational debate with US at Climate Summit

The decision of the US in 2001 to depart the Kyoto Protocol on economic reasons has never been based on rational grounds. Hence, the Kyoto Protocol is embedded with flexible mechanisms, carbon trading, forestry offsets to make it possible and feasible to meet its targets. US Delegation leader Harlan Watson, emphasized in his first presentation at the Climate Summit, in Montreal the need for a clear separation between Convention and Kyoto Protocol issues. The US seems to promote to engage in sectoral volutary partnerships in the framework of the Climate Convention. But that was already done in 1995-1997. It is for the EU a challenge to keep sight on the implementation of the Kyoto Protocol (including CDM process) and to engage in an as widest possible discussion on the future, for example in a dual parth encompassing Kyoto and Climate Convention promotors. There is in principle time for discussion until 2008.

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Brinkhorst wil energiebedrijven minder emissierechten geven

Een Kamermeerderheid voerde tijdens het kameroverleg op 23 november met EZ-minister Brinkhorst druk op om de 'windfall profits' van energiebedrijven met CO2-handel aan te pakken. Brinkhorst had al toegezegd dat de DTe en ECN exact zullen onderzoeken hoe de energiebedrijven zijn opgetreden op de emissiemarkt. Brinkhorst zei in een eerder overleg dat er inderdaad sprake is van windfall profits (winst zonder tegenprestatie).
Hij heeft inmiddels aan de Kamer de volgende toezeggingen gedaan:
- emissierechten voortaan zo veel mogelijk veilen aan stroombedrijven (dat vermindert de winst, maar niet de kosten voor afnemers);
- via EU-overleg komen tot andere manier van toekennen van emissierechten, n.l. effecten op de stroomprijs voorkomen als daar geen kosten tegenover staan (op 1 december legt hij dit voor aan de Energieraad in Brussel) en
- de energiebedrijven voortaan minder emissierechten toekennen en meer aan de industrie (dat kan betekenen dat de industrie deels emissierechten krijgt voor de stroom die zij afneemt. Hiermee wordt emissierechten een meer 'downstream' systeem.

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First COP/MOP to begin in Montreal on Monday

The first Conference Of the Parties of the UNFCCC being the Meeting Of the Parties to the Kyoto Protocol will take place in Montreal from November 28th until December 9th, after the Kyoto protocol's entry into force earlier this year. And already, one great subject will be how the Kyoto protocol will be continued in the future, for it only lasts until 2012. This will prove to be difficult, because the US, Australia and other countries like China and India, do not want to take on binding caps for the overall emissions, claiming this could harm their economic growth. Reuters/AlertNet lists some possible solutions:

• specific targets, expressed as t CO2e/$ of GNP (favored by the US and some poorer countries)


• international targets by sectors (like transportation or energy intensive goods)


• technological approaches without setting emissions targets at all


• absolute targets, however very weak for emerging economies


• absolute targets getting stricter with rising per capita GNP

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Erste COP/MOP beginnt am Montag in Montreal

Die erste "Conference Of the Parties" der Klimarahmenkonvention als "Meeting Of the Parties" des Kyoto-Protokolls findet vom 28. November bis 9. Dezember in Montreal statt, nachdem das Kyoto-Protokoll im letzten Winter in Kraft getreten ist. Und schon ist ein großes Thema die Frage, wie das Kyoto-Protokoll in die Zukunft fortgesetzt wird, denn es gilt nur bis 2012. Diese Gespräche werden sich als schwierig erweisen, da die USA, Australien und andere Länder wie China und Indien keine verpflichtenden Emissionsziele für ihre Gesamtemissionen akzeptieren wollen, da diese ihr Wirtschaftswachstum gefährdeten. Reuters/AlertNet listet einige mögliche Auswege auf:

• spezifische Emissionsziele, ausgedrückt als t CO2e/$ des BIP (bevorzugt von den USA und einige ärmeren Staaten)


• internationale Emissionsziele für bestimmte Sektoren (z.B. Transport/Verkehr oder energieintensive Branchen)


• technologische Ansätze ohne konkrete Emissionszielvorgaben


• absolute Emissionsziele, die jedoch für die aufstrebenden Wirtschaftsnationen weniger streng sind


• absolute Emissionsziele, die mit steigendem BIP pro Kopf strenger werden

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ERUPT New Style open for tender

The Dutch government agency SenterNovem is announcing a new purchase round: ERUPT New Style. Recently SenterNovem has completed the fifth successful ERUPT tender round. So far Erupt has resulted in 23 contracted JI projects. In order to meet the wish of suppliers, SenterNovem now starts with a more flexible way of purchasing credits, including the principle ‘first come, first served’. SenterNovem encourages projects in an advanced development stage to come forward as from today.

Companies can submit a PIN or PDD from today but not later than 16 January 2006, the first cut-off date. Relevant information is available at the SenterNovem website.

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ERUPT New Style er�ffnet neue Ausschreibungsrunde

Die holländische Regierungsagentur SenterNovem gibt eine neue Kaufrunde bekannt: ERUPT New Style. Kürzlich hat SenterNovem die fünfte ERUPT-Ausschreibung erfolgreich abgeschlossen. Bislang wurden im Rahmen von Erupt 23 JI-Projekte unter Vertrag genommen. Um den Wünschen der Anbieter besser gerecht zu werden, startet SenterNovem nun mit einem flexibleren Ankaufverfahren für Emissionszertifikate, das unter anderem das ‘first come, first served’-Prinzip anwendet. SenterNovem lädt Projekte in einem fortgeschrittenen Entwicklungsstadium ab sofort zur Kontaktaufnahmen ein.

Unternehmen können eine PIN oder PDD ab sofort und bis spätestens 16 Januar 2006 (Ausschlussfrist) einsenden. Ausführliche Informationen finden sich auf der Webseite von SenterNovem.

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Is more or less climate protection needed?

Two contradictory reports came up on Monday in respect to the best path into our energy future.

One, based on a study by the International Energy Agency (IEA), states that GHG emissions are bound to rise by 52% by 2030, due to rising consumer demand, and that the oil industry needs to invest $20.3 trillion (that is, 20'300'000'000'000 $!) by 2030 to cover the demand. "These projected trends have important implications and lead to a future that is not sustainable," Reuters cites IEA Executive Director Claude Mandil. "We must change these outcomes and get the planet onto a sustainable energy path." (Read more on BBC News.)

The other report, based on a study by the pro-business think-tank International Council for Capital Formation (ICCF), tells us that Europe faces severe economic impacts by complying to the Kyoto regime, bringing Spain's economic growth down by 3.1% from what it would have been without Kyoto, Italy's down by 2.1%, Britain's by 1.1% and Germany's by 0.8%. This, again, is called unsustainable: "The findings of our research suggest that an alternative approach (to climate change) is urgently needed for both the developing and developed world," as Margo Thorning, Managing Director of the organisation, puts it on Reuters.

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Wirtschaftsvereinigung Metall: "Emissionshandel aussetzen"

Der Hauptgeschäftsführer der Wirtschaftsvereinigung Metall (WVM), Martin Kneer, hat in einem Interview mit der Tageszeitung "Die Welt" angekündigt, für eine Aussetzung des Emissionshandels eintreten zu wollen, um den Höhenflug der Strompreise für die energieintensive Industrie in den Griff zu bekommen (siehe Die Welt).

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5. Asia Carbon Exchange & New Values announce the world�s first online CDM Trading model of CERs

By Axel Posthumus, New Values

Asia Carbon Exchange (ACX-Change) and New Values (Climex) have announced the world’s first on-line auction of forward CER contracts arising from CDM projects in Asia. Currently about 5 million tons of forward CERs contracts from CDM Projects in Asia can be offered for sale. This will continuously grow as more CERs are placed online and more auctions are executed, as a regular service for participants.

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4. The CERs are coming!

By Jos Cozijnsen, New Values

If you as trader, environmental organization or company hold a CER (Certified Emission Reduction) under the EU Emissions Trading Scheme, then hang on to it! Because it is worth its weight in gold. The exciting thing here is that there is no expiry date – in contrast to European Allowances, a CER can be used for compliance both before and after 2008. Even after 2012!

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2. UKPX teams up with New Values and the Climex alliance to launch a Spot Carbon Contract

By Lisa Ashford, UKPX

UKPX, the London based exchange which is part of APX group is partnering with New Values to offer easy access to a European liquidity pool for trading and clearing of carbon emission rights. UKPX is the only UK based exchange offering trading and clearing services for spot Carbon emissions. APX BV and UKPX are linking clearing functions to give members a “local” counterparty either in the Netherlands or the UK.

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1. Formation of The Climex Alliance to Facilitate Cleared Spot Carbon Trading Starting November 2005

On 18 October 2005 New Values has announced the formation of the Climex Alliance and its intended launch in November 2005. The Climex Alliance provides a single pan-European Spot Carbon Exchange for the trading of Carbon Emissions Certificates within the EU’s Emissions Trading Scheme and is currently comprised of six European regional partners including New Values, SENDECO2, STX Services, Vertis Environmental Finance, and UKPX and APX B.V., both part of the APX Group that will act as the clearing counterparties.

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5. Asia Carbon Exchange en New Values presenteren �s wereld eerste model voor online CDM-handel in CER�s

Door Axel Posthumus, New Values

Asia Carbon Exchange (ACX-Change) en New Values (Climex) hebben ’s werelds eerste online veiling van CER-termijncontracten aangekondigd. Deze vloeit voort uit CDM-projecten in Azië. Momenteel kan voor ongeveer 5 miljoen ton aan CER-termijncontracten te koop worden aangeboden die afkomstig zijn uit CDM-projecten in Azië. Dit aanbod zal blijven groeien naarmate meer CER’s online worden geplaatst en er steeds meer veilingen als standaardservice worden aangeboden aan deelnemers.

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4. De CERs komen er aan!

Door Jos Cozijnsen, New Values

Als je als handelaar, milieuorganisatie of bedrijf onder het EU emissiehandelssysteem (ETS) een CER (Certified Emission Reduction) in handen heb: houd hem vooral vast! Want u hebt goud in handen. Er zit namelijk geen houdbaarheidsdatum op, hij mag, in tegenstelling tot Europese Allowances, voor en na 2008 gebruikt worden voor compliance. Zelfs na 2012!

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2. UKPX vormt team met New Values en Climex Alliance voor contract spothandel CO2-emissierechten

Door Lisa Ashford, UKPX

UKPX, de in Londen gevestigde beurs die deel uitmaakt van de APX Group gaat een partnerschap aan met New Values om gemakkelijke toegang te bieden tot een Europese liquiditeitspool voor de handel in en verrekening van CO2-emissierechten. UKPX is de enige in het Verenigd Koninkrijk gevestigde beurs die handel- en verrekendiensten aanbiedt voor spothandel in CO2-emissies. APX BV en UKPX gaan hun verrekenfuncties koppelen om leden een ‘lokale’ tegenpartij kunnen bieden in Nederland en het Verenigd Koninkrijk.

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1. Climex Alliance opgericht voor spothandel verrekende CO2-emissierechten met ingang van november 2005

Op 18 oktober 2005 heeft New Values de oprichting aangekondigd van de Climex Alliance, die in november 2005 van start zal gaan. De Climex Alliance biedt één pan-Europese beurs voor spothandel in CO2-emissierechten voor de handel in CO2-emissiecertificaten volgens het Emissions Trading Scheme van de Europese Unie. De Climex Alliance bestaat momenteel uit zes Europese regionale partners, waaronder New Values, SENDECO2, STX Services, Vertis Environmental Finance en UKPX en APX B.V., die beide deel uitmaken van de APX Group en zullen optreden als verrekenende tegenpartij.

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5. Asia Carbon Exchange und New Values geben die Einrichtung des weltweit ersten Online-CDM-Handelsmodells f�r CERs bekannt

Von Axel Posthumus, New Values

Die Asia Carbon Exchange (ACX-Change) und New Values (Climex) haben die weltweit erste Online-Auktion für CER-Terminkontrakte aus CDM-Projekten in Asien angekündigt. Derzeit können CER-Terminkontrakte aus CDM-Projekten in Asien mit einem Volumen von etwa 5 Millionen Tonnen zum Verkauf angeboten werden. Diese Menge wird kontinuierlich steigen, wenn als regulärer Dienst für die Teilnehmer immer mehr CERs online platziert und immer mehr Auktionen durchgeführt werden.

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4. Die CERs kommen!

Von Jos Cozijnsen, New Values

Händler, Umweltschutzorganisationen oder Unternehmen, die im Rahmen des EU-Emissionshandelssystems (ETS) über eine zertifizierte Emissionsreduktion (CER, Certified Emission Reduction) verfügen, sollten diese unbedingt festhalten! Denn dieses Papier ist Gold wert: Es hat kein Verfalldatum und darf, im Gegensatz zu den europäischen Allowances, also Emissionszertifikaten, sowohl vor als auch nach 2008 bei der Erfüllungskontrolle berücksichtigt werden; sogar noch nach 2012!

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2. UKPX bietet gemeinsam mit New Values und der Climex-Allianz einen neuen CO2-Spotkontrakt an

Von Lisa Ashford, UKPX

UKPX, die in London ansässige Börse und Mitglied der APX-Gruppe, arbeitet gemeinsam mit New Values daran, einfachen Zugang zu einem europäischen Liquiditätspool für den Handel mit CO2-Emissionsrechten sowie deren Verrechnung zu schaffen. Die UKPX ist die einzige Börse in Großbritannien, an der Spotgeschäfte für CO2-Emissionen getätigt und verrechnet werden können. Die APX B.V. und die UKPX haben ihre Verrechnungssysteme gekoppelt, so dass die Mitglieder über eine ‘lokale’ Gegenpartei in den Niederlanden oder in Großbritannien verfügen.

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1. Bildung der Climex-Allianz erm�glicht ab November dieses Jahres Spotgesch�fte mit fertig verrechneten CO2-Kontrakten

Am 18. Oktober dieses Jahres kündigte New Values die Bildung der Climex-Allianz an, die von November an tätig werden soll. Mit der Climex-Allianz steht eine einheitliche, europaweit agierende Börse für CO2-Spotgeschäfte zur Verfügung, auf der CO2-Emissionszertifikate im Rahmen des EU-Systems für den Emissionshandel an- und verkauft werden können. Derzeit sind an der Allianz sechs regional operierende Partner in Europa beteiligt: New Values, SENDECO2, STX Services, Vertis Environmental Finance sowie die UKPX und die APX B.V.; die beiden letzteren gehören der APX-Gruppe an und treten als Gegenparteien für die Verrechnung auf.

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Dutch minister: 'I will skim windfall profits through auctioning'

Dutch minister for Economic Affairs, Brinkhorst informed the Parliament by his letter of Oct 31 how he will respond to assumed windfall profits in the power sector by passing through the CO2 price. ECN reported that 40-70% of the price was passed through, though 95% of the emissions received allocations for free. Brinkhorst said he can only skim the windfall profits by making use of auctioning as allocation method. He will discuss with his EU colleagues, Dec.1, other possible measures. The next allocation plan is due June 2006; in advance ECN and the Dutch Power Regulator (DTe) will report on the exact emissions allowances cost power companies had to decide on measures.
What the studies lack , is considering how power companies can prevent cost increase for power users. Hence waiting for more liquidity and lower CO2 prices might prove to be more beneficial than to get locked-in in high futures contacts, though these are supposed to prevent price risks themselves.

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UK Government to be the first government offsetting its central air travel emissions

The UK Department for Environment, Forestry and Rural Affairs as launched a website dedicated to CO2 emissions offsetting. It shows the UK Government policy towards offsetting its CO2 emissions and gives an overview of standards, approaches as well as service providers in the offsetting business.

The UK Government is offsetting the CO2 emissions caused by its G8 and EU presidency this year, and will start a cross-government air travel offsetting scheme in April 2006. Private companies are encouraged to join the "offsetting community". The web page can be found on the DEFRA server.

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Britische Regierung kompensiert als erste ihre zentralen Flugemissionen

Das britische Umweltministerium DEFRA hat eine Webseite zu CO2-Kompensationslösungen gestartet. Dort wird die Politik der britischen Regierung im Bereich CO2-Ausgleich ebenso dargestellt wie Standards, Konzepte und Anbieter von Kompensationslösungen.

Die britische Regierung kompensiert die CO2-Emissionen aus ihrer diesjährigen G8- und EU-Präsidentschaft, und wird im April 2006 ein regierungsweites Kompensationssystem für Flugemissionen starten. Privatunternehmen werden ermutigt, sich der "Kompensationsgemeinde" anzuschließen. Die Seite ist auf dem Server von DEFRA erreichbar.

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Climate change threatens The Netherlands; Kyoto commitments within reach

Secretary of State for the Environment Van Geel presented the Evaluation of Climate Change Policy. He said that “current climate change – see the most beautiful November ever – cannot be stopped, since that is due to historic emissions. But we can prevent that things go completely wrong at the end of the century”.
The Kyoto commitments – an emission reduction of 6% - are within reach. Ongoing policies have brought national emissions down with 5%, mainly caused by energy savings! Recent years the overall greenhouse emissions have decreased, in particular methane, N2O and HFKs. CO2 is still increasing. Besides, 100Mton CO2 credits are being purchased from abroad.

At the same time the Nature and Environment Planning Bureau issued its report “Impact of climate change in The Netherlands". Extreme hot and dry summers will occur more often, but also more and extreme rains leading to water nuisance. Peak water flows in the rivers will ameliorate. Upstream measures will increase risks in the Netherlands. The temperature increases rapidly, pushing Mediterranean climatic zones to the North with 4 km per year, too fast for organisms to adapt!

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Gevaar dreigt voor Nederland door klimaatverandering; Kyoto is haalbaar

Staatssecretaris Van Geel van milieu zei bij de presentatie van de Evaluatienota Klimaatverandering dat de huidige klimaateffecten - wellicht de mooiste November ooit - niet meer tegen te houden zijn: "Vroegere CO2-emissies zijn daar de oorzaak van". Maar om het aan eind van de eeuw niet helemaal mis te laten gaan moet Nederland de emissies scherp terugbrengen. De huidige verplichting van het Kyoto Protocol, een reductie van 6% in 2008-2012 is goed haalbaar. Het gevoerde klimaatbeleid heeft de emissies 5% lager gebracht. Het grootste effect komt door energiebesparing. De afgelopen jaren zijn de totale emissies van broeikasgassen licht gedaald. Hoewel de uitstoot van CO2 blijft groeien, zijn de emissies van de overige broeikasgassen, methaan, N2O en HFKs flink gedaald.

Tegelijk bracht Het Natuur en Milieuplanburo bracht haar rapport uit "Effecten van klimaatverandering in Nederland" Extreem warme en droge zomers zullen vaker voorkomen maar er zijn ook meer en heviger buien met wateroverlast te verwachten.

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Creating a Wall Street for Carbon

See article in Ecosystem Marketplace

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Schwarz-Rot h�lt weitgehend Kurs bei der Energiepolitik

Täglich ändert sich derzeit wieder die bundesdeutsche Politikwetterlage. So ist es auch unsicher, ob es bei den bereits zwische CDU/CSU und SPD am letzten Donnerstag ausgehandelten Kompromissbeschlüssen in der Energiepolitik bleibt. Zur Erinnerung die Eckpunkte in Kurzform:

• Festhalten am Zielanteil für Ökostrom von 20% bis 2020


• Überprüfung des Erneuerbare-Energien-Gesetzes (EEG) wie schon von Rot-Grün geplant erst 2007


• einzige möglicher Änderungspunkt wäre dann die Förderung der Windkraft im Binnenland


• Zielwert 30% CO2-Emissionsminderung gegenüber 1990 bis 2020


• Förderung der energetischen Gebäudesanierung mit 1,5 Mrd. EUR an Zuschüssen jährlich


• strengere Behandlung der großen Energiekonzerne im Zuteilungsplan 2008 für den Emissionshandel


• Unterstützung des EU-Vorschlags für die Einbeziehung der Luftfahrt in den Emissionshandel

Offen blieb die Frage der Laufzeitverlängerung von Kernkraftwerken.
Ob sich an den gefundenen Kompromissen angesichts der derzeitigen personellen Umbrüche in der voraussichtlichen Koalition etwas ändern wird, steht noch nicht fest.

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Hockeystick word golfclub

We schreven eerder (zie hier) over de controverse in klimaat-wetenschapsland over het grafiekje dat als een hockeystick laat zien dat nog nooit de gemiddelde temperatuur op aarde zo snel en zo hoog gestegen is als nu. 2 wetenschappers, M&M, van wie aangetoond is dat ze geld van Exxon kregen, zaaiden twijfel over de grafiek. De maker klimatoloog Mann, zou een aantal temperaturen hebben ' ingevuld' . Blijkens 2 nieuwe artikelen in Geophysical Research Letters, die de grafiek heb herberekend, komen Huybers, Wahl en Mann uit op iets van een golfclub, waarvan evident blijft: nog nooit stegen temparaturen zo hoog en zo snel. In december vergaderen landen over afspraken over klimaatbeleid. We hopen dat er dan minder controverse is, maar dat men inziet dat snel handelen geboden is.

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Van Geel: EU moet beter voorbeeld geven en streven naar 30% reductie in 2020

Zie persbericht VROM

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Kartellamt untersucht Einfluss des CO2-Handels auf Strompreise

Das Bundeskartellamt hat nach Beschwerden des Verbandes der Industriellen Energie- und Kraftwirtschaft (VIK) vom August eine Untersuchung eingeleitet, ob die CO2-Preise zu ungerechtfertigten Strompreiserhöhungen geführt haben, insbesondere obwohl die Zuteilung der CO2-Zertifikate kostenlos erfolgt ist und dadurch Windfall Profits für die Kraftwerkbetreiber entstehen. Die Energieversorger haben zwischenzeitlich eingeräumt, dass Preisüberwälzungen stattgefunden haben, jedoch der beabsichtigte Effekt des Emissionshandels seien.

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German Federal Cartel Office investigates impact CO2 price on electricity price

The Federal Cartell Office started investigations after compliants in August by the Verband der Industriellen Energie- und Kraftwirtschaft (VIK) that CO2 prices drive up power prices, though they were allocated for free, thus generating major windfall profits for power generators. Utilities have meanwhile admitted to this practice in part, pointing out that this was the desired effect of emissions trading.

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Wie wint met wind?

Het lijkt alsof wind-energievoorstander Brinkhorst overeind blijft. Hij legt de motie van LPF/VVD (zie de tekst onderaan), waar een Kamermeerderheid voor stemde uit als ondersteuning van zijn beleid. Alles gaat om de vraag wanneer windenergie rendeert en hoever subsidie moet gaan. De CPB-studie, waar de motie naar verwijst, zegt dat windenergie pas in 2030 rendabel is, ging uit van te lage olie- en CO2-prijzen. Windenergie, als milieu-vriendelijker, mag wat minder rendabel zijn en milieubeleid mag extra geld kosten, maar het gaat om maatvoering. Daarom is de draai die het CDA maakte, die de motie steunde, om te bekijken hoe de 2 nieuwe wind-op-zee projecten het doen en eventueel nieuwe goede windenergie-projecten, wel te subsidieren. Jammer dat de VVD deze redelijke opstelling niet waardeerde, maar echt tegen molens lijkt te vechten. Twee wegen om hier uit te komen:
Lastig is dat Nederland 2 doelstellingen heeft, die soms met elkaar strijden. De ene is 10% duurzaam in 2010 en de andere is 6% CO2-reductie. Windenergie is wellicht niet de goedkoopste oplossing voor CO2, want schone kolenstook kan rendabeler zijn. Daarom zit de Kamer met de brokken. Erken dat je 2 verschillende doelstellingen en hebt en dat dat dus nooit optimaal kan worden. Twee wegen om hier uit te komen:

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Kamer en minister EZ: tegen windfall profits emissiehandel: maar wat nu?

Kamerbreed en minister economische zaken Brinkhorst wisten het zeker, zo bleek uit het debat van 11 oktober: er is sprake van winsten bij energiebedrijven, gemaakt met gratis verkregen emissierechten. Maar over de aanpak ervan verschillen alle betrokkennen dermate dat getwijfeld kan worden of er iets gaat gebeuren. De PvdA: wees op de Energiewet: 95b, waardoor de DTe kan ingrijpen in de prijs, wanneer inkoopkkosten onredelijk zijn. CDA, Groen Links, SP, Chistenunie en LPF zien wel wat in veilen van emissierechten (i.p.v. gratis zoals nu) en willen het emissiehandelssysteem anders. En de VVD, die weet dat stroombedrijven, raffinaderijen en banken dagelijks transacties over emissierechten verrichten, wil graag bewijs van het onredelijk voordeel hebben, voor in te grijpen.

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Dutch parliament holds debate on relation between CO2 trade and power prices

Today, the Dutch Parliament holds a debate with the government on the correlation between CO2 prices and electricity prices. In particular the christian democratic CDA and the opposition social democatic PvdA will ask Economics Minister Brinkhorst to cap CO2 prices or to take back some windfall profits of the power companies. They refer to the recent report by ECN that shows that power companies pass through 30-70% of the CO2 price to customers, beacuse of the opportunity cost of allocated allowances.

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Tweede Kamer houdt spoeddebat over CO2-emissiehandel

Vandaag om 15.45 houdt de Tweede Kamer een spoeddebat met de minister van Economische Zaken Brinkhorst over mogelijke onevenredige verhoging van energieprijzen als gevolg van emissiehandel. PvdA en CDA staan al klaar om de minister te vragen in te grijpen, of om winsten af te romen. In zijn Energierapport 2005 werd al gesuggereerd dat er misschien moet worden ingegrepen in de hoogte van de CO2-prijs. Brinkhorst heeft toezichthouder DTE gevraagd de prijsontwikkeling in de gaten te houden.

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Bedrijven �missing link� in internationaal klimaatbeleid

Ans Kolk, hoogleraar Sustainable management aan de Business School van de Universiteit van Amsterdam zegt dat het belangrijk voor beleidsmakers is meer inzicht te krijgen in wat bedrijven precies aanzet tot innoveren, investeren, afkopen, verhandelen of afwachten. Dan kunnen beleidsinstrumenten beter op deze strategische realiteit van bedrijven worden afgestemd. Zij bestudeert dit al jaren.

Better safe than sorry:
- Sommige bedrijven richten zich op verbeteringen in het productieproces, zoals energiebesparing, soms samen met hun toeleveranciers.
- Andere bedrijven proberen nieuwe, klimaatvriendelijker producten te ontwikkelen.
- Er is ook een groep die zich niet zo zeer op innovatie richt, maar wacht tot emissievermindering door handel kan worden “ingekocht”.
- Interessant is ook dat er bedrijven zijn die actief vorm geven aan deze nieuwe emissiemarkten, en die daarin marktkansen zien als intermediairs of omdat het ervaringen oplevert die ze op andere terreinen weer kunnen gebruiken.
- Maar het is duidelijk dat veel bedrijven nog wachten op wat er komen gaat, en de markt in de gaten houden om te zien wat concurrenten en beleidsmakers.

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Energie uit wind, kern, kolen, zon, biomassa: het is niet goed of het deugt niet (Energeia)

De zoektocht naar de juiste opwekkingsmethode voor stroom begint een beetje een afvalrace te worden. Tegen windenergie is veel weerstand. 'Windmolens draaien meer op subsidie dan op wind', zo zei VVD-politicus Paul de Krom gisteren op een congres over het Energierapport nog eens. Directeur Paul Dijkstra van NRE was het met hem eens: Nederland is geen windland.

Met biomassa heeft De Krom ook problemen, net als directeur Joost van Dijk van Eon Benelux, zo bleek op het congres. Eon Benelux had er samen met Greenpeace onderzoek naar laten doen. Waar de milieu-organisatie tot de conclusie kwam dat biomassa de 'oplossing van het klimaatprobleem' is, concludeerde Eon dat een biomassa-centrale van 1.000 MW te ambitieus is. Reden: het grote volume van de aan te voeren biomassa (vier keer zo groot als kolen), wat tot logistieke problemen leidt. Ook vindt Van Dijk het niet erg zinvol om met houtsnippers over heel de wereld te gaan slepen. Maar als je windenergie en biomassa wegstreept van het palet van mogelijke opwekkingsmethoden in Nederland blijft er bitter weinig over, zo merkte duurzaamheidsstrateeg Helma Kip van Essent op.

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Nederland-Canadese klimaat-conferentie (6/7 okt)

Staatssecretaris Van Geel woont donderdag 6 en vrijdag 7 oktober de Nederlands-Canadese conferentie bij over klimaatverandering. In Ottawa zal hij onder meer spreken met de Canadese minister van Milieu (Dion). Het kon nog wel eens een interessante input leveren voor de onderhandelingen na 2012. Want Canada is de voorzitter van de Klimaattop in december en men heeft kennelijk Van Geel gevraagd mee te helpen bij de voorbereidingen voor deze VN-klimaatconferentie. Een interessante line-up staat daar garant voor (zie agenda): van de Inuit, Shell tot Alders. Het zal zeker over CO2-opslag, glastuinbouwopties en waterstof gaan. Nu maar wachten ook de kllimaattop geinteresseerd is in nieuwe ideeën.

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IPCC: CO2-Opslag kan bijdragen aan vermindering uitstoot

Ondergrondse opslag van CO2 kan een belangrijke bijdrage leveren aan het terugdringen van de wereldwijde uitstoot hiervan. Dat blijkt uit een rapport van het Intergovernmental Panel on Climate Change, IPCC (zie samenvatting). IPCC, het wetenschappelijke orgaan voor klimaatverandering van de Verenigde Naties, bracht het rapport "Carbon Dioxide Capture and Storage" vandaag uit. Het rapport gaat over de technologie waarmee CO2, afkomstig van de verbranding van fossiele brandstoffen, kan worden afgevangen en opgeslagen in lege gas- of olievelden, kolenlagen, diepe zoutwaterreservoirs, minerale gesteenten en in oceanen.

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Klimaskepsis weiter "in Mode"

Nachdem der australische Wissenschaftler Dr Tim Flannery im Antwort von William Kininmonth, Meteorologe und zwölf Jahre lang Leiter des Australia's National Climate Centre, prompt: "Die wissenschaftliche Verknüpfung von menschlichen Aktivitäten mit dem Klimawandel ist vereinfachend und wird durch die Tatsache erleichtert, dass wir in einer offensichtlichen Warmzeit leben. Wir sind in einer relativ warmen Ära des Eiszeit-Zyklus, die seint mehr als 8.000 Jahren andauert, aber die Temperaturen waren während dieser Zeit schon höher. Die Beweislage, dass das Klimasystem einen fiktiven kritischen Punkt überschreitet, der zu einer zunehmenden globalen Erwärmung führt, ist nicht überzeugend."

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Neue Studie: Folgen der Klimaerw�rmung f�r Europa st�rker als erwartet

In größerem Maßstab zeigt das Max Planck Institute für Meteorologie in Hamburg, dass die Erde sich einer klimatischen Katastrophe nähert. Seine neuester Bericht für das IPCC enthält neue Simulationsergebnisse, die eine höhere Gewissheit aufweisen als früher - und beunruhigendere Ergebnisse (Deutsche Welle): "Die Dürre und unerträgliche Hitze, die weite Teile Westeuropas einschließlich Deutschland 2003 heimgesucht hat, wird in 50 Jahren eine normale Erscheinung sein. Durchschnittstemperaturen von 30°C werden im Juni, Juli und August nicht mehr ungewöhnlich sein. Im Winter wird statt Schnee Regen fallen, und dies stets länger und heftiger. (...) Milde Temperaturen werden das Ende der Alpengletscher bis zum Ende des Jahrhunderts bedeuten."

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Climate scepticism still "en vogue"

After the Australian scientist Dr Tim Flannery warned that global warming poses the biggest threat to the survival of the planet in answer has been rapid by William Kininmonth, senior meteorologist and headed of Australia's National Climate Centre for 12 years: "The science linking human activities to climate change is simplistic and his arguments are assisted by the fact we are in a period of apparent warming. We are in a relatively warm part of the Ice Age cycle that has lasted more than 8000 years, but temperatures have been higher during this period. The evidence that the climate system may pass some imagined critical point that leads to runaway global warming is not convincing."

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New study: Impacts of global warming in Europe stronger then expected

On a larger scale, the Max Planck Institute of Meteorology in Hamburg reveals that Earth is heading towards a climate catastrophe. Its new report to the IPCC include the newest simulation results, which seem to have higher certainty then before - and more scaring results (Deutsche Welle): "The drought and insufferable heat that hit most of western Europe, including Germany, in 2003 will be a normal occurrence in 50 years. Averages of 30 degrees Celsius will no longer be unusual in the June, July and August. In the winter, instead of snow falling, rain will, and whenever it does so, then it will last longer and be heavier. (...) Mild temperature will mean the end of Alpine glaciers by the end of this century."

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'State of Fear', or 'how to take global warming serious'

State of Fear is the book by famous film maker and novellist Michael Crichton, in which he describes that the debate on climate change is too much driven by fear. But taking climate change at least serious is something that seems missing in todays US political discussions. Hence, it was a shock to find him witnessing on global warming in front of the United States Senate Committee for Environment and Public Works, Sept.28th (Guardian, Sept 29b and Statements). A Senate Resolution in July calls for mandatory greenhouse cuts. Since than, Senate Committees are active at least. The Environment Commitee takes the lead on the issue. The Chair of the Committee, Senator Inhof, said earlier that "catastrophic global warming is a hoax"(see)

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Dramatische Folgen der Klimaerw�rmung in der Arktis

Letzte Woche wurde ein Bericht der NASA veröffentlicht, wonach das Polareis seit 1978 um rund 30% zurückgegangen ist, mit weiter zunehmender Abschmelzgeschwindigkeit. Dieser Sommer war für die Arktis der wärmste in den letzten 400 Jahren. BBC News zeigt interessante Grafike des National Snow and Ice Data Center (NSIDC), Boulder, Colorado. Das Tauen der Permafrostböden hat dramatische Auswirkungen auf Mensch und Umwelt, wie ABC News berichtet, von einstürzenden Dörfern bis zur Verdrängung arktischer Vögel durch Tiere aus wärmeren Klimazonen. In Alaska ändert sich die Landschaft drastische: "In den letzten 15 bis 25 Jahren sind Spezies wie die Zwergbirke oder Heidelbeeren in Gegenden gewachsen, wo seit 8.000 bis 12.000 Jahren nur Sumpfgebiete waren."(National Research Council of Canada, nach einem Bericht von Eurekalert).

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Arctic may see dramatic warming effects

A NASA report published last week hints that polar ice has gone back by roughly 30% since 1978, with the melting speed still increasing. This year the arctic has seen the hottest summer in 400 years. BBC News shows interesting figures by the National Snow and Ice Data Center (NSIDC), Boulder, Colorado. With the permafrost melting, the consequences for men and wildlife are huge, as ABC News reports, ranging from scrumbling villages to arctic birds being threatened by warmer climate animals. In Alaska, the landscape is drastically transforming: "In the last 15 to 25 years, species such as dwarf birch, blueberries and black spruce have grown up in areas where wetlands had existed for 8,000 to 12,000 years." (National Research Council of Canada according to Eurekalert).

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3. Sinnvolle Nutzung von Kohlendioxid, CO2-Speicherung und Emissionshandel gehen Hand in Hand

Von Jos Cozijnsen, Berater, Kolumnist und Community Moderator New Values
(Diese Meldung ist Teil des New Values CO2-Sonderrundbriefs September
2005)

Langsam, aber sicher wird Regierungen und Umweltverbänden bewusst: CO2-Nutzung und Emissionshandel können für die Umwelt und für die Wirtschaft gleichermaßen einen Gewinn bedeuten. Das OCAP-Projekt ist dafür ein Beispiel.

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2. Climex bietet verz�gerungsfreie Handelsergebnisse

Von Rob Kouwenberg, Trade Facilitator New Values und Renée Mol, Customer Service Desk
(Diese Meldung ist Teil des New Values CO2-Sonderrundbriefs September
2005)

Die Definition des Begriffs Spothandel lautet: Lieferung und Zahlung innerhalb von 24 Stunden. Auf Climex findet beides sofort statt. Das "Carbon Allowances Settlement System" macht's möglich. Wie? Das erklären wir Ihnen hier.

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1. Climex: schnell und einfach handeln!

Von Thomas de Zeeuw, Kundenbetreuer New Values
(Diese Meldung ist Teil des New Values CO2-Sonderrundbriefs September
2005)

Climex hat für die Teilnehmer mehr auf Lager, als Sie glauben. Denn neben dem reinen Handelsgeschäft bieten wir Ihnen noch viele andere Leistungen, und das zu einem attraktiven Preis. Lassen Sie sich die Möglichkeiten von Climex zeigen; Sie werden überrascht sein.

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9. Climex price model unrivalled

By Jan Marten Krebs, New Values Account Manager and Consultant for the German Market
(This article is part of the september '05 New Values Newsletter CO2 special)

The Climex price model has been simplified. With a maximal fee of 5 ct/ton, and a minimal volume of 1 ton CO2 per transaction, there’s no reason not to trade.

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8. German translations of contracts for Climex available now

By Jan Marten Krebs, New Values Account Manager and Consultant for the German Market
(This article is part of the september '05 New Values Newsletter CO2 special)

Since September the German translations of the Climex contracts are available. Therewith we simplify our German customers the review of our contracts.

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7. International trade requires an international solution: Climex!

By Tames Rietdijk, New Values Managing Director
(This article is part of the september '05 New Values Newsletter CO2 special)

Since emissions trading is an international matter, Climex is an international trading platform. We achieve this through our cooperation with various partners in Europe and Asia.

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6. Emissions trading according to the Kyoto protocol: the next phase

By Wilbert Koppers, New Values Account Manager
(This article is part of the september '05 New Values Newsletter CO2 special)

As of 1 January 2008, international emissions trading in EUAs will be supplemented by CERs and ERUs. Together with its international partners, New Values is already preparing for this new situation.

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5. New at New Values: the Trade Facilitator

By Peter Siks, New Values Trade Facilitator
(This article is part of the september '05 New Values Newsletter CO2 special)

New Values is constantly expanding its range of services. This summer, for instance, we have introduced the Trade Facilitator. This makes trading on Climex even easier and more interesting.

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4. Growing liquidity on Climex

By Axel Posthumus, New Values Managing Director
(This article is part of the september '05 New Values Newsletter CO2 special)

The Climex platform enables industry to trade without the mediation of banks and brokers. It provides the security of a real trading exchange at a much lower price.

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3. Practical use of CO2, CO2 storage and emissions trading go hand in hand

By Jos Cozijnsen, consultant, columnist and New Values Community Moderator
(This article is part of the september '05 New Values Newsletter CO2 special)

Governments and environmental organisations are slowly but surely catching on: CO2 storage and trading can bring benefits for both environment and economy. The OCAP project is one example.

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2. Climex provides immediate trading results

By Rob Kouwenberg, New Values Trade Facilitator, and Renée Mol, Customer Service Desk
(This article is part of the september '05 New Values Newsletter CO2 special)

Spot trading normally means delivery and payment within 24 hours, but at Climex it means right away. The Carbon Allowances Settlement System makes it possible. With just a bit of preparation.

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1. Climex: fast and easy trading!

By Thomas de Zeeuw, New Values Account Manager
(This article is part of the september '05 New Values Newsletter CO2 special)

Climex has a number of surprising aspects. Besides pure trading, we also facilitate much more for you – at an attractive price. Discover the convenience of Climex; let us surprise you.

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Europese Commissie: Luchtvaart moet in emissiehandel

Europees Commissaris Dimas heeft aangekondigd dat de luchtvaart gaat meedoen aan de handel in rechten om CO2 uit te stoten. Dit stimuleert maatschappijen om voortdurend de emissies van kooldioxide te reduceren. Per retourvlucht kost het de consument tot € 9 extra. De benodigde EU-wetgeving is vermoedelijk pas rond 2009 effectief. Op een retourvlucht Amsterdam - Thailand wordt bijvoorbeeld beduidend meer CO2 uitgestoten dan door een nieuwe auto in een heel jaar.

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8. Contracten voor Climex ook in het Duits beschikbaar

Door Jan Marten Krebs, accountmanager en consultant New Values voor de Duitse markt
(Dit artikel is onderdeel van de Nieuwsbrief CO2 SPECIAL van september '05)

Sinds september zijn de Climex-contracten beschikbaar in het Duits. Hiermee maken we het eenvoudiger voor onze Duitse klanten om onze contracten te aanvaarden.

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9. Climex-prijzen onge�venaard

Door Jan Marten Krebs, accountmanager en consultant New Values voor de Duitse markt
(Dit artikel is onderdeel van de Nieuwsbrief CO2 SPECIAL van september '05)

Het prijsmodel van Climex is vereenvoudigd. Met maximaal 5 cent/ton aan transactiekosten, en een minimaal transactievolume van 1 ton CO2 is er geen reden om niet te handelen.

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7. Internationale handel vraagt om een internationale oplossing: Climex!

Door Tames Rietdijk, directeur New Values
(Dit artikel is onderdeel van de Nieuwsbrief CO2 SPECIAL van september '05)

Omdat emissiehandel een internationale aangelegenheid is, is Climex is een internationaal handelsplatform. Hiervoor werken we samen met verschillende partners binnen Europa en Azië.

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6. Emissiehandel volgens het Kyoto-protocol: de volgende fase

Door Wilbert Koppers, accountmanager New Values
(Dit artikel is onderdeel van de Nieuwsbrief CO2 SPECIAL van september '05)

Vanaf 1 januari 2008 wordt de internationale emissiehandel in EUA's uitgebreid met CER's en ERU's. New Values bereidt zich samen met haar internationale partners nu al voor op die nieuwe situatie.

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5. Nieuw bij New Values: de Trade Facilitator

Door Peter Siks, Trade Facilitator New Values
(Dit artikel is onderdeel van de Nieuwsbrief CO2 SPECIAL van september '05)

New Values blijft haar dienstenpakket voortdurend uitbreiden. Zo hebben we deze zomer de Trade Facilitator geïntroduceerd. Daarmee wordt handelen op Climex nog makkelijker en interessanter.

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4. Liquiditeit op Climex groeiende

Door Axel Posthumus, algemeen directeur New Values
(Dit artikel is onderdeel van de Nieuwsbrief CO2 SPECIAL van september '05)

Het Climex-platform biedt de industrie de mogelijkheid om zonder tussenkomst van banken en brokers te handelen. Het geeft de zekerheid van een echte handelsbeurs, tegen een veel lagere prijs.

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3. Nuttig gebruik van CO2, CO2-opslag en emissiehandel gaan hand in hand

Door Jos Cozijnsen, adviseur, columnist en Community-moderator
(Dit artikel is onderdeel van de Nieuwsbrief CO2 SPECIAL van september '05)

Het dringt langzaam maar zeker tot overheden en milieuorganisatie door: CO2-opslag en –handel kunnen rendement opleveren voor milieu én economie. Het OCAP-project is er een voorbeeld van.

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2. Climex biedt onmiddellijke handelsresultaten

Door Rob Kouwenberg, Trade Facilitator, en Renée Mol, Customer Service Desk New Values
(Dit artikel is onderdeel van de Nieuwsbrief CO2 SPECIAL van september '05)

De definitie van spothandel is levering en betaling binnen 24 uur, bij Climex betekent het onmiddellijk. Het Carbon Allowances Settlement System maakt het mogelijk. Met een beetje voorbereiding...

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1. Climex: handel snel en eenvoudig!

Door Thomas de Zeeuw, accountmanager New Values
(Dit artikel is onderdeel van de Nieuwsbrief CO2 SPECIAL van september '05)

Climex kent een aantal verrassende kanten. Want naast het pure handelen, faciliteren we nog veel meer voor u, tegen een aantrekkelijke prijs. Ontdek het gemak van Climex en laat u verrassen.

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9. Climex-Preismodell weiterhin konkurrenzlos g�nstig

(Diese Meldung ist Teil des New Values CO2-Sonderrundbriefs September
2005)

Climex bietet ein leicht angepasstes und sogar weiter reduziertes Preismodell an. Mit maximalen Transaktionskosten von 0,05 EUR/t CO2 und einem minimalen Transaktionsvolumen von 1 t CO2 gibt es keinen Grund, nicht zu handeln!

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8. Deutsche �bersetzungen der Vertragsdokumente f�r Climex liegen vor

Von Jan-Marten Krebs, Kundenbetreuer New Values
(Diese Meldung ist Teil des New Values CO2-Sonderrundbriefs September
2005)

Seit diesem Monat liegen nunmehr die deutschen Übersetzungen der Vertragsdokumente für Climex vor. Damit wird unseren deutschen Kunden und Neukunden die rechtliche Prüfung der Mitgliedsverträge und Geschäftsbedingungen für die CO2-Handelsplattform Climex deutlich erleichtert.

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7. Internationaler Handel braucht eine internationale L�sung: Climex!

Von Tames Rietdijk, Geschäftsführer New Values
(Diese Meldung ist Teil des New Values CO2-Sonderrundbriefs September
2005)

Weil der Emissionshandel ein internationales Geschäft ist, ist auch Climex als internationale Handelsplattform ausgelegt worden. Zu diesem Zweck arbeiten wir mit einer Reihe von Partnern in Europa und Asien zusammen.

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6. Emissionshandel nach dem Kyoto-Protokoll: die n�chste Phase

Von Wilbert Koppers, Kundenbetreuer New Values
(Diese Meldung ist Teil des New Values CO2-Sonderrundbriefs September
2005)

Vom 1. Januar 2008 an wird der internationale Handel mit EUAs auf CERs und ERUs ausgedehnt. New Values bereitet sich zusammen mit seinen internationalen Partnern schon jetzt auf diese neue Situation vor.

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5. Neu bei New Values: der Trade Facilitator

Von Peter Siks, Trade Facilitator New Values
(Diese Meldung ist Teil des New Values CO2-Sonderrundbriefs September
2005)

Die Leistungspalette von New Values wird laufend erweitert. So haben wir in diesem Sommer den Trade Facilitator vorgestellt. Das macht den Handel auf der Climex noch einfacher und interessanter.

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4. Liquidit�t auf Climex w�chst

Von Axel Posthumus, Geschäftsführer New Values
(Diese Meldung ist Teil des New Values CO2-Sonderrundbriefs September
2005)

Die Climex-Plattform bietet der Industrie die Möglichkeit, ohne Vermittlung durch Banken und Broker zu handeln. Sie bietet die Sicherheit einer echten Handelsbörse, und das zu deutlich geringeren Kosten.

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De trein t�ch weer het schoonst

De trein is in vergelijking met de auto, het vliegtuig en de scheepvaart het meest milieuvriendelijke vervoermiddel voor personen en voor vracht. Per reizigerskilometer stoot de trein de kleinste hoeveelheden broeikasgas CO2 en stikstofoxides (NOx) uit, meldt het Centraal Bureau voor de Statistiek (CBS) vandaag.

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Dutch Ministry of Economic Affairs 2006 budget: support for saving, renewables and CO2 storage

Economic Affairs wants to further unbundle economic growth and the effects of this on the environment. The government aims to achieve savings of 1.5%. In order to do this, some of the natural gas windfalls (€ 250 million) will be used to achieve energy savings, clean fossil fuels (CO2 storage) and develop renewable energy sources (including innovative bio fuels). See press release.

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"PRINSJESDAG Van Geel klaagt over verminking energie-dossiers door al het gepraat"

Zie Energeia Energienieuws

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Dutch government releases Linking Directive legislation

September 14th the Dutch government released a proposal for legislation to implement the 'Linking Directive' into the Environment Act. It arranges the way companies, that participate under the EU Emissions Trading System, may use project credits to cover part of their CO2 emissions. The Netherlands wants to limit as from 2008 that use to 8% of the allowances allocated in 2008-2012; the 8% can be used in 5 years, but also in 1 year. The government favours a stricter limit, to stimulate innovation in EU industrial sites, provided it is an EU wide limit. The proposal follows the general requirements (no sinks, no nukes, no large hydro). But the government indicates in the Explanatory Note that it is possible that the European Commission will propose in 2006 that CO2 reductions for land use change and forestry (sinks) can be used as from 2008. The law provides that CERs and ERUs are tradable assets the way EU Emission Allowances are. It is noted though that transferral of CERs are expected to happen not earlier that 2007! Further, the government states that it will not allow JI projects in the Netherlands, simply because it is difficult to assess the additionality of reductions, because there is already much CO2 policy. My comments:

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New York judge dismisses lawsuit on global warming

On Thursday, New York federal judge Loretta Preska dismissed a global warming lawsuit brought by eight states and the city of New York against five utilities. She argued that the question was about political issues, not judiciary. Connecticut and New York want to appeal.

Read the full story at Reuters.

In my eyes, this decision is especially interesting in a time when many people in the US are starting to discuss whether Katrina had something to do with climate change or not, and what could be done about it (see SFGate, for example).

There is a lot at stake, especially in a country where justice is largely made by high damage payments. German experts from DIW just published an estimation that the total costs of Katrina would range as high as 600 billion US-$, according to Frankfurter Allgemeine Zeitung citing AFP.

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Relatie duurzame energie, CO2-emissie en CO2-opslag niet voldoende begrepen: beter dit via allocatie regelen.

Er is een debat ontstaan met aan de ene kant minister Brinkhorst, die met een analyse van het CBS in de hand, windenergie verder wil steunen via de MEP (€ 1 miljard uit aardgasbaten) tot een totaal van 700 Mw in 2010 om 9% duurzaam te halen. Dit staat in de Miljoenennota. Via een wet wil Brinkhorst wel een jaarlijks maximum aan subsidie. Aan de andere kant de VVD en CDA die geen steun meer voor wind willen, omdat wind niet zeker is en gewone centrales dat moeten opvangen. Het CPB berekende dat dat slechts 6% kostenverhogend is (Kamerbrief). Het CDA denkt dat windenenergie pas na 20 jaar en met hoge CO2-prijzen rendabel is. CDA en VVD zijn wel voorstander van CO2-opslag in bodem of gasvelden. De PvdA vindt dat het CPB juist verder zou moeten gaan, omdat het van te lage olie- en CO2-prijzen uitgaat (nl $ 25-35).
Wat alle partijen zich m.i. onvoldoende realiseren is dat duurzame energie alleen CO2 bespaart als het stroomopwekking met kolen of gas vervangt. Emissierechten levert het alleen maar op als een energiebedrijf 'switcht'. Een oplossing is om bij de volgende allocatie van emissierechten (juni 2006) voor 2008-2012 dat te doen op basis van het aantal gram CO2 per kWh (CO2-benchmark): dan stimuleer je CO2-opslag door energiecentrales en duurzame energie-centrales.

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New Yorker Richterin weist Klage wegen Klimawandels zur�ck

Am Donnerstag hat die New Yorker Bundesrichterin Loretta Preska eine Klage wegen des globalen Klimawandels zurückgewiesen, die von acht Bundesstaaten und der Stadt New York gegen fünf Energiekonzerne eingereicht worden war. Sie argumentierte, dieser Fall berühre vor allem politische Fragestellungen, keine rechtlichen. Connecticut und New York wollen Revision einlegen.

Lesen Sie die vollständige Meldung bei Reuters.

In meinen Augen ist diese Entscheidung vor allem zum jetzigen Zeitpunkt interessant, da viele Menschen in den USA beginnen, über den möglichen Zusammenhang von Katrina und dem globalen Klimawandel zu diskutieren, und über Konsequenzen nachzudenken (vergleiche SFGate zum Beispiel).

Es steht viel auf dem Spiel, vor allem in einem Land, in dem Gerechtigkeit vor allem über hohe Entschädigungszahlungen hergestellt wird. Experten vom DIW haben gerade eine Schätzung veröffentlicht, nach der die Gesamtkosten von Katrina bei 600 Milliarden US-$, liegen werden, wie die Frankfurter Allgemeine Zeitung unter Berufung auf AFP berichtet.

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Wetsvoorstel Linking Directive (CDM/JI)

Op 14 september diende de regering een wetsvoorstel in bij de Tweede Kamer voor de omzetting van de EU-Richtlijn in Nederlandse wetgeving. De zogenaamde 'Linking Directive' regelt dat bedrijven onder voorwaarden certificaten voor reducties van projecten in ontwikkelingslanden (CDM-projecten) en in industrielanden (JI-projecten) mag gebruiken om de eigen emissies af te dekken. De bedrijven, die onder EU CO2-emissiehandel vallen, mogen daar dus EU-emissierechten voor gebruiken en nu dus ook CDM-rechten (CERs, ofwel gecertificeerde emissiereducties) en vanaf 2008 ook JI-rechten (ERUs, ofwel emissiereductie-eenheden). De Wet milieubeheer zal verder bepalen dat deze rechten verhandelbare vermogensrechten zijn en wat dat betreft worden gelijkgesteld met EU-emissierechten.

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British Airways launches offsetting program

British Airways has joined forces with the UK based environmental organisation Climate Care to offer a new service for its customers. British Airways passenger are encouraged to offset the CO2 emissions of their flight with BA by giving money to offsetting projects (Forbes News).
With this, British Airways has taken the lead in the airline industry, acknowledging that air travel emissions are a serious problem, and offering a solution based on the idea of emissions trading.

The project is being endorsed by DEFRA and the British Government.

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