GC Carbon Newsletter - June 2011

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GC Carbon Newsletter - June 2011

  1. 1. General Carbon NewsletterMONTHLY CARBON NEWSLETTER JUNE 2011, ISSUE:04Point of View PROJECT HIGHLIGHTS The CDM Pipeline saw 141 newGermanys decision to shut all of the nations nuclear projects entering in May (highestpower plants over the next 11 years comes in a sharp since 2007-08) exemplifying thereversal to an earlier decision to extend the life of the 2012 rush amongst the projectplants. This decision will be a key element in the future proponents.price of carbon in the EU. The decision lays the plan toincrease renewable energy generation in a big way. With The issuance of CERs in Mayother nations likely to revisit their Nuclear plans, price was also high at ~19 MCERsprojections of carbon offsets in the next phase has turnedbullish again. France, meanwhile continues to rely on In May, six new PoAs entered thenuclear power with two more nuclear plants under Pipeline taking the number of PoAs in Africa to 20 or 22% ofconstruction, it is likely that the German decision will the 92 existing PoAs. This is aincrease reliance on renewable power across EU. much higher percentage than Africa‟s 2.6% of all CDM projects.EU ETS data on emissions for 2010 from the ~12,000installations covered was ~3% higher than 2009, showingthat the economic recovery had not increased emissionsabove the cap for the 2008-2012 trading phase. 2% of VCS VER PRICE WATCHthe installations did not surrender allowances covering all India, China:their 2010 emissions by the deadline of 30 April 2011.These were typically small and together account for less Renewables, EEthan 2% of emissions covered by the EU ETS, showing a Pre 2008 vintages US$ 0.50- 1.00high level of compliance. CERs accounted for 4.7% of all Post 2008 vintagessurrenders in 2008-2010. Data suggests that CERs are US$ 1.00-2.75being surrendered while EUAs banked for the next phaseindicating a soft pricing in the early years of the next Renewables, EE- Pre CDMphase. Policy makers could use this to show that greater Pre 2008 vintagesemission reduction can be done at an economic cost. US$ 0.50-2.00 Post 2008 vintages US$ 2.00-3.50Best, Industrial gases, others Pre 2008 vintagesSatish Kashyap US$ 0.25-0.50 Post 2008 vintages US$ 0.50-1.00 Rest of Asia, Africa: Renewables, EE Pre 2008 vintages US$ 1.00-2.00 Post 2008 vintages US$ 2.00-4.00
  2. 2. Carbon Credits from Watershed Management Renewables, EE- Pre CDM Pre 2008 vintages US$ 1.50-3.00Recently World Bank entered into an agreement with the Post 2008 vintagesHimachal Pradesh Government (India) for buying the US$ 2.00-5.00carbon credits from the new forests being developed ondegraded lands under a watershed management program. Industrial gases, othersThe main objective of this reforestation project in Pre 2008 vintageswatershed areas is to improve livelihoods and generate US$ 0.25-1.00carbon revenue for the community. It is proposed to Post 2008 vintagesimplement the project in 11 watershed divisions covering US$ 0.50-1.004000 hectares of land. NEW METHODOLOGIESWhile, reforestation activities sequester CO2 emissions UPDATEand also conserve the natural resources and are known tobe eligible under CDM to earn carbon credits. Watershedmanagement programme also helps in sequestration of Five new small scalesoil carbon through indirect activities like soil erosion methodologies were approved atcontrol, fertilizer leaching control etc. Electricity savings EB 60:from reduced use of pumps due to increase in groundwater level will also reduce carbon emission. But so far AMS-III.AT “Transportationthere is no approved methodology to assess credits from energy efficiency activitieswatershed management activities in VCS, CDM and other installing digital tachographsuch similar standards. systems to commercial freight transport fleets” The methodology covers installationOther Carbon News of digital tachograph systems in freight vehicles operating on a Global CO2 market growth stalls in 2010 amid number of identified traceable uncertainty The global carbon market dipped 1.4 percent to $142 routes to improve driving billion last year from $144 billion in 2009, mainly due to efficiency and reduce vehicle fuel regulatory uncertainty, the World Bank said. consumption. AMS-III.AU “Methane emission Kenyan wind farm gets UN carbon credit approval A 310 MW Kenyan wind power project has received reduction by adjusted water approval to earn carbon emissions. Construction on management practice in rice the 617 million euro ($873.7 million) Lake Turkana cultivation” The methodology is Wind Power (LTWP) project is expected to start by December and will be the fourth project in Kenya to for measures that result in get approval under the CDM. reduced anaerobic decomposition of organic matter Carbon price may push up Kyoto bill in rice cropping soils and thus The NZ Budget disclosed a contingent liability for the taxpayer of $1.5 billion under the Kyoto Protocol. That the reduced generation of is down from $1.7 billion in last years Budget, methane. It includes rice farms reflecting the issuance of 10 million carbon credits to that change their rice cultivation eligible foresters in the interim practice from transplanted to Designing Targeted Financing to Build Africas Carbon direct seeded rice. Market AMS-I.J “Solar water heating While global carbon markets are taking off, Africa lags far behind with only 7% of the Clean Development systems (SWH)” The Mechanism (CDM) global market share. The African methodology is applicable to
  3. 3. Development Bank (AfDB) is designing targeted installation of solar water heatingfinancing instruments, such as the Africa CarbonFacility (ACF), to help build Africas carbon markets systems in residential,and attract more green investments to the continent. commercial, industrial, and institutional facilities. It includesCalifornia judge puts carbon market on hold three options for determiningA California judge ruled on, that state air regulatorsmust halt the implementation of a cap-and-trade emission reductions forscheme until they examine alternatives to emissions residential systems: a computertrading to meet the states aggressive greenhouse gas simulation approach; a meteringreduction targets. approach; and a default value.Canadian Solar to build 600 MW solar cell plant in AMS-II.L “Demand-side activitiesChina for efficient outdoor and streetCanadian Solar Inc said it would build a 600 megawatt lighting technologies” Thephotovoltaic cell production factory in Suzhou inEastern China, a day after the solar panel maker methodology is for replacementannounced plans to set up a wafer plant in the same of inefficient lamps and/or fixturearea. combinations with efficient onesAviation Carbon Suit to Stir Trade Tension at Durban in public or utility owned streetTalks, Derwent Says lighting systems resulting inA lawsuit by U.S. airlines arguing against inclusion in electricity savings. It also coversthe European Union carbon market probably will stirtension at December climate talks, said Henry the implementation of lightingDerwent, the International Emissions Trading controls.Association president. AMS-III.AV “Low greenhouse gas emitting water purificationOffsets „Crowding Out‟ Utility Demand for Carbon,Orbeo Says systems” The methodologyThe European Commission in Brussels, which covers water purification systemsregulates the market, plans to start selling 2013 for residential or institutionalpermits late this year at the earliest. In the meantime,utilities must use permits issued through 2012 for applications.hedging purposes. Some generators start sellingpower three years ahead of production. The carbon The EB has furthermoreprogram is the world‟s biggest greenhouse-gas market approved the first top-downby traded volume. developed large scale A/RChina says EU airline CO2 cap should protect poor methodology: AR-AM0013:countries “Afforestation and reforestationPlans by the European Union to impose a blanket of lands other than wetlands”carbon emissions cap on global airlines should beadjusted to reflect the differences between rich andpoor countries, the head of Chinas aviation regulator EVENT WATCHsaid. Clean Power Asia 2011UN clean energy scheme grows, 3,000 projects so far On 28-30 June 2011 atThe United Nations said its Clean Development InterContinental Bangkok,Mechanism (CDM) is growing steadily, having Thailand. This is Asias largestregistered 3,000 carbon cutting energy projects to conference & exhibition focusing on the latest global and regionaldate. clean power technologies,"Growth remains steady. The number of projects projects and initiativesbeginning validation in the first three months of 2011was 17 percent higher than in the same period in2010," it said in a statement on Thursday.
  4. 4. EDITORSIATA sees 10 airlines joining carbon scheme this yearTen airlines are expected to start investing in projects Vinodini Chitrakaran,this year that earn carbon credits under a U.N. scheme vinodini.c@general-carbon.comto help offset emissions, officials said as KenyaAirways became the first African carrier to enlist. Rameez Shaikh, rameez.shaikh@general-World Bank Auctions Adaptation Fund CERs carbon.comThe World Bank, as Trustee for the Adaptation Fund,has completed an auction of 200,000 tons of certified GENERAL CARBON PTE LTDemission reductions (CER) at Euro 12.52 per ton. 16 RAFFLES QUAY, #33-03 HONG LEONG BUILDING, SINGAPORE 048581.UK Sets GHG Emissions Tone for Europe: Cut 50% by2027The United Kingdom set a binding target for cuttinggreenhouse gas emissions 50% by 2027. This makesthe UK the first country in the world to declare a"legally binding" target on greenhouse gas emissionsbeyond 2020. This newsletter is brought to youCement firms eye biodiversity, water goals after CDM by General Carbon. Contactdisappointment gcnews@general-carbon.com ifCement companies will look to introduce goals on you have any queries orwater usage and biodiversity preservation, followingthe disappointing outcome to a plan that would have comments or wish to contributeaddressed carbon emissions, said the Cement news and updates. We welcomeSustainability Initiative (CSI). your suggestions andUN Proposes Changes to Hydrofluorocarbon- contributions.Reduction ProjectsA United Nations-overseen panel that helps set the If you wish to unsubscribe fromrules of the world‟s second-biggest carbon marketproposed to change how regulators determine the this newsletter please reply tonumber of credits awarded to plants that cut this email with “unsubscribe” inhydrofluorocarbon – 23 the subject line.PCRA to set up carbon credit aggregation centre inRajasthan General Carbon is a leadingThe Petroleum Conservation and Research emission reduction consulting,Association (PCRA) plans to set up a Carbon CreditAggregation Centre (CCA) at the Pali textile cluster in sustainability advisory andRajasthan. investment firm with presenceThis will be the first of 16 such CCA centres proposed across Singapore, India, Srito be set up across the country and aim to introduceand popularise Clean Development Mechanism (CDM) Lanka, Thailand, Philippines,initiatives in MSME clusters under the Technology and Indonesia, South Africa, Nigeria,Quality Upgradation Support scheme for MSMEs. Ethiopia and Kenya.

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