Environmental Markets Correspondent/Communities Editor
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May 26, 2010

Global CO2 market up in 2009 as finance falls

COLOGNE, Germany (Reuters) – The global carbon market grew 6 percent to $144 billion last year, from $135 billion in 2008, as a rise in speculative trading offset a drop in carbon finance for developing nations, the World Bank said on Wednesday.

Greenhouse gas emissions cuts in developing nations funded by rich countries under the Kyoto Protocol fell by half to 211 million tonnes of carbon dioxide (CO2) in 2009, down from 404 million in 2008, the bank said in a report.

May 19, 2010

CO2 exchange head calls for U.S. carbon central bank

LONDON (Reuters) – A central bank for the U.S. carbon market would be more effective in managing volatility than the price ceilings and floors included in a Senate climate bill unveiled last week, the head of NYMEX’s emissions exchange said.

Tom Lewis, CEO of the Green Exchange, also slammed the bill being put forward to Congress by Democrat John Kerry and independent Joe Lieberman, saying it was flawed.

May 18, 2010

European recession slashed 2009 carbon emissions

BRUSSELS (Reuters) – The European recession last year slashed more than 11 percent off the amount of climate-warming emissions from heavy industry, the European Union’s executive said on Tuesday.

The EU said carbon dioxide emissions from the more than 11,000 installations regulated by its Emissions Trading Scheme fell by 11.6 percent to 1.873 billion tonnes.

May 17, 2010

Alberta to award first cleantech grants in June

LONDON (Reuters) – Alberta will hand out the first C$100 million of its cleantech fund next month, the province’s environment minister said, around the same time that one of the fund’s main contributors is expected to learn if it has been found guilty of killing 1,600 ducks.

Between 5 and 10 shortlisted clean energy projects will receive grants under Alberta’s technology fund, said Rob Renner. The fund is financed by a carbon tax put on the province’s oil sands developers like Syncrude Canada Ltd.

May 14, 2010

Used carbon credit seller named, deals revealed

LONDON (Reuters) – London-based Total Global Steel was named by a source on Friday as a seller of recycled carbon credits, as the Hungarian government said it was still unsure as to the remaining used credits’ whereabouts.

“Total Global Steel sold recycled CERs over BlueNext,” an anonymous source familiar with the matter told Reuters, referring to used Kyoto Protocol carbon credits sold over the French emissions exchange.

May 13, 2010

European CO2 traders cautiously welcome U.S. bill

LONDON (Reuters) – A U.S. Senate climate bill, unveiled on Wednesday, has garnered general support from European carbon market players, though some have raised concerns over a few components of the proposed legislation.

The draft bill, to be tabled by Democratic Senator John Kerry and independent Senator Joseph Lieberman, would introduce a price collar to curb wild volatility and restricts participation by parts of the financial sector.

May 5, 2010

U.N. forecasts less than 1 bln Kyoto offsets by 2012

LONDON (Reuters) – A United Nations agency on Wednesday cut its forecast for pre-2012 Kyoto Protocol carbon offsets, estimating for the first time that less than 1 billion tonnes will come to market before the climate pact expires.

“Due to the medium issuance in March (11.4 million) and in April (9.9 million), our projection for the amount of (Certified Emissions Reductions) to be available by the end of 2012 decreased a little from 1,035 million to 992 million,” the UNEP Risoe Center said on its website.

Apr 14, 2010

European carbon price set to bloom in Spring

LONDON (Reuters) – European Union carbon prices could be set to rally through the second quarter, after they broke through a key price milestone on Wednesday, as energy prices firm and the economy shows signs of improving.

Carbon permits traded under the EU’s $100 billion emissions trading scheme (EU ETS) have been stuck in range-bound trade between 12 and 15 euros a tonne since last September, due to the effects of the economic slump.

Apr 13, 2010

Bryant and Lakers to play London pre-season game

LONDON, April 13 (Reuters) – Kobe Bryant, one of the biggest
names in basketball, will play his first NBA game outside the
U.S. when he leads his champion Los Angeles Lakers against the
Minnesota Timberwolves in a pre-season game in London on Oct. 4.

The 6ft 6in guard, who earns over $20 million per season,
has won four NBA championship titles and was last year’s most
valuable player in the NBA finals.

Apr 1, 2010

EU capped CO2 emissions fall 11.2 percent in 2009

LONDON (Reuters) – A sharp drop in carbon emissions across the European Union emissions trading scheme underscored on Thursday the impact of recession on industry, with an overall 11.2 percent drop in 2009.

The metals sector registered the biggest fall, by 30 percent, while Estonia, Romania, Belgium, Spain and Italy registered some of the biggest falls across individual countries.

    • About Michael

      "Michael Szabo is an environmental markets correspondent based in London, UK. His focus is on carbon emissions trading, but also looks at renewable energy and climate change policy and science. He also manages the Global Carbon Forum."
      Hometown:
      Ottawa, Canada
      Joined Reuters:
      June 2005
      Languages:
      English, French
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