Advanced Global Trading

UPDATE 2- MEPs strike common ground on EU carbon fix – 12 Jun 2013

Advanced Global Trading — Thu, 13 Jun 2013 11:37:31 +0000

Senior lawmakers from three major European parties struck a deal Wednesday that they say could allow regulators to intervene in the EU Emissions Trading Scheme to prop up prices of carbon permits.

Co-ordinators from all seven of the EU Parliament’s political groupings met in Strasbourg to discuss changes to the‘backloading’ bill, which allows the EU Commission delay the sale of permits in the bloc’s $148-billion carbon market. (Reuters Point Carbon)

EU may use CO2 permit auction cash to help industry – 11 Jun 2013

Advanced Global Trading — Thu, 13 Jun 2013 11:35:03 +0000

The European Commission said on Tuesday it would consider using revenue raised from selling carbon credits to help industry cut carbon dioxide emissions, a move lawmakers say could overcome resistance from steel and cement companies to tougher climate policy.

The commitment was made as part of a series of measures published in the executive’s Steel Action Plan, which aims to stimulate the bloc’s ailing metals industry.

“(The Commission will) assess how the revenues related to the (carbon market) can be earmarked and used to finance climate-related objectives, including the deployment of new and innovative technologies in the energy intensive industries,” the plan said. (Reuters Point Carbon)

UN study reveals $15-bln price tag to save the CDM – 11 Jun 2013

Advanced Global Trading — Thu, 13 Jun 2013 11:33:40 +0000

Rescuing the world’s biggest carbon offset market – the Clean Development Mechanism (CDM) – could cost 11.7 billion euros ($15.5 billion), according to a study commissioned by the U.N.’s main climate body, up to three times higher than previous estimates. (Reuters Point Carbon)

Number of new CDM projects slumps to 7-yr low: U.N. agency – 07 Jun 2013

Advanced Global Trading — Thu, 13 Jun 2013 11:32:42 +0000

The number of new projects seeking permission to produce U.N. carbon credits by cutting emissions in poorer nations hit a seven year low in May, according to data from a United Nations research agency, further evidence that carbon finance is drying up.

Just six projects applied for United Nations validation under the Clean Development Mechanism (CDM) in May, the lowest level since January 2006, when banks, energy companies and governments poured money into the market in the hope of getting carbon credits they could sell on for a profit.

Since January, just 72 schemes have been registered, down 94 percent from more than 1,100 in the first five months of 2012, UNEP Risoe said. (Reuters Point Carbon)

CCAs idle at $14.50 per tonne as trading stalls – 07 Jun 2013

Advanced Global Trading — Thu, 13 Jun 2013 11:31:29 +0000

California carbon allowances (CCAs) for delivery in December 2013 settled at $14.50 per tonne on Thursday, virtually unchanged from one week ago in one of the quietest trading weeks so far this year.

Over the past five trading days, 212,000 benchmark CCAs have cleared on the Intercontinental Exchange, well below the weekly average so far this year. No allowances cleared at all on Thursday.

An additional 56,000 June 2013 CCAs, the market’s de facto spot contract, also cleared on the exchange this week. (Reuters Point Carbon)

UPDATE 1: California adds 4 CO2 offset projects to early action list – 05 Jun 2013

Advanced Global Trading — Thu, 13 Jun 2013 11:29:37 +0000

State air regulators on Wednesday added four carbon offset schemes to their list of projects that may be able to generate credits businesses can use to comply with California’s mandatory carbon market.

The new list approved by the California Air Resources Board (ARB) includes one livestock project, two ozone-depleting substances (ODS) projects, and one forestry project, although they must pass an additional quality review before credits will be issued to their owners. (Reuters Point Carbon)

Airline industry carbon proposal may help save U.N. deal

Advanced Global Trading — Sun, 09 Jun 2013 06:17:21 +0000

A proposal agreed to this week by major airlines could rescue U.N. efforts for a deal to cut greenhouse gas emissions in the aviation sector, but the industry still needs to lean on governments for the plan to move ahead, industry observers said.

Following its annual meeting in South Africa on Monday, the International Air Transport Association (IATA) said it will ask governments to create a system through which airlines would offset any increase in emissions after 2020 by buying carbon credits from projects that reduce emissions in other sectors. (Reuters)

California natural gas suppliers push for free CO2 permits

Advanced Global Trading — Sun, 09 Jun 2013 06:15:49 +0000

The natural gas industry on Monday said the state should reverse its current policy and give its companies as many free carbon allowances as they need to comply with California’s cap-and-trade program from 2015.

As it stands now natural gas suppliers would have to purchase 100 percent of the permits they need to cover their carbon emissions when the program expands to cover them at the start of the program’s second compliance period, although that language is expected to change, experts said. (Reuters Point Carbon

Monthly CO2 trade hits 1-year low as price volatility subsides

Advanced Global Trading — Sun, 09 Jun 2013 06:14:08 +0000

European trade in United Nation carbon credits and EU CO2 permits fell to a one-year low in May, according to data compiled by Reuters Point Carbon, as permit prices largely traded in a tight range.

Data taken from the three main European bourses – ICE Futures Europe, EEX and CME – showed slightly under 600 million permits and credits changed hands over the course of the month, down 40 percent on April trade, but largely in line with that of May 2012. (Reuters Point Carbon)

EU sells 3.46 mln CO2 permits at 3.80 euros each

Advanced Global Trading — Sun, 09 Jun 2013 06:13:14 +0000

The European Union sold 3.462 million spot EU carbon permits from the third phase (2013-2020) of its emissions trading scheme on EEX at 3.80 euros ($4.92) a tonne each on Monday, traders said. The sale attracted bids for around 8.5 million units. (Reuters)