Climex News Update

CO2 virtually flat

Tue, 30 Jun 2009 15:37:24 +0100

Oil prices are coming down on Tuesday after trading above USD 73/bbl earlier in the session on the back of buying interest from funds, analysts said. The front month contract for Brent North Sea crude oil was last seen traded at USD 71.20/bbl, up 21 cents day on day. The price reached USD 73.50/bbl earlier in the session however, on the back of buying interest from funds, said analysts.
The market is awaiting a string of economic indicators to be released this week, including US employment data on Thursday, as well as inventory data later on Tuesday and Wednesday.
�Better than expected data this week could help propel crude prices to the USD 75/bbl area,� said analysts at Sucden Financial Research. Others were more cautious and pointed to a weak demand picture. (Source: Miontell Power News)

House passes landmark climate change bill

Sat, 27 Jun 2009 03:21:23 +0100

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)

US House Strikes Deal on Climate Change

Wed, 24 Jun 2009 03:59:34 +0100

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).

Pointcarbon: 'spot EUA business shifts to brokers'

Thu, 18 Jun 2009 14:28:00 +0100

Brokers are seeing a rise in spot EUA business in the wake of France exempting tax on carbon.
Around 1.7 million spot EUA contracts have been handled by brokers and cleared through the Bluenext exchange in the last two days, which is around 25 per cent of the volume going through the bourse.
Before the tax change on 9 June, brokers accounted for an average of 116,500 spot EUAs a day cleared though Bluenext since the start of May, just 1.3 per cent of the spot volume going through bourse.
�We have definitely seen a pick up in spot business over the last two days. People are looking to trade the spread (between the spot and the 2009 future EUA) more than anything,� said one broker.

CO2 finds Summer price ceiling: waiting for new signals

Tue, 16 Jun 2009 08:57:05 +0100

Nations May Form Global CO2 Market Without U.N. Deal

Mon, 15 Jun 2009 03:03:58 +0100

Rich countries may act on their own to reduce greenhouse gas emissions by developing a carbon market they hope will lure in poor nations even if U.N. climate talks get bogged down, experts said. Nearly 200 countries have been trying to reach an agreement to replace the Kyoto Protocol on global warming with a December deadline at a meeting in Copenhagen approaching. But there remains a large rich-poor divide. Developing countries want industrialized countries to make deep cuts in greenhouse gas emissions in the international agreement. Industrialized countries want poor countries to take on binding commitments. To get past the differences, the rich world, including the European Union and the United States, may form a carbon market outside or parallel to the U.N. talks. Rapidly developing countries like China may be inspired to join the market to sell emissions offsets such as clean energy projects.
One reason such a development would be attractive "is because countries like the United States, and other countries like China, South Korea, and Mexico may very well do more on their own domestic binding agreements than in a binding international agreement," said Nathaniel Keohane, director of economic policy and analysis at the Environmental Defense Fund (Source: Reuters)

UN climate talks advance, poor urge more CO2 cuts

Sat, 13 Jun 2009 14:16:46 +0100

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)

Energy from Dutch pig slurry helps fight climate change

Mon, 08 Jun 2009 03:23:21 +0100

The 2,700 pigs on the farm that John Horrevorts (Sterksel in The Netherlands) manages yield more than ham and bacon. A biogas plant makes enough electricity from their waste to run the farm and feeds extra wattage into the Dutch national grid. He even gets bonus payments for reducing greenhouse gas emissions [VERs for methane reduction RED].
As the world struggles to reduce pollution causing climate change, attention has focused on the burning of fossil fuels in factories, power stations, and vehicles. But U.N. scientists says farming and forestry account for more than 30 percent of the greenhouse gases that are gradually heating the earth. Much of that pollution comes from cattle, sheep and pigs that belch or excrete methane, a heat-trapping gas more than 20 times as potent as carbon dioxide, the most common global warming gas (Source AP, May 31)

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

Mon, 08 Jun 2009 03:21:02 +0100

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)

Global CO2 market doubles, but CO2 cuts fall

Wed, 27 May 2009 14:28:34 +0100

This is the heading of the article by Reuters, based on the Worldbank report; it is posted below. It will surely be take over by many sources. What it fails to report is that the allocation of emission allowances over 2008-2012 are already cut by 10% compared to 2005. So, there is the emission reduction. How big the (secundary) trade is that follow says nothing about amount of reductions. Yes indeed emission cuts via CDM projects were down, cause of many reasons, even because of the economic downturn. All the VERs, ERUs and primary CERs sales were down 27% compared to 2007, mainly in Q3 and Q4.

US House Committee passes cap-and-trade bill, 33-25

Fri, 22 May 2009 11:31:28 +0100

The House Energy Commerce Committee voted 33-25 tonight to pass sweeping legislation that would overhaul U.S. energy and global warming policy.
Democrats largely held together in support of the 946-page bill shaped over several months of closed-door negotiations and nearly 40 hours of debate this week. Only one Republican supported thebill, as GOP opponents unified against the measure, insisting it was a costly and unattainable measure to be pushing in a tight economy. (Source: E&E)

Climex Workshops

Tue, 19 May 2009 09:52:44 +0100

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.

Successful �Green� Electricity Auction TNO

Mon, 18 May 2009 16:50:55 +0100

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

Climex offers Members extended trading functionalities by introducing the Intermediary Function

Mon, 18 May 2009 13:55:47 +0100

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

Meet us at Carbon Expo Barcelona

Mon, 18 May 2009 13:54:46 +0100

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