LONDON (Reuters) – A United Nations climate panel approved 32 Chinese wind farms for carbon financing under the Kyoto Protocol late last week, but blocked another six after rejecting eight similar projects in December.
The approved wind farms will cut greenhouse gas emissions by some 11.3 million metric tones by the end of 2012, the year the current Kyoto pact expires, according to UN data.
LONDON, Feb 11 (Reuters) – British-based carbon offset
aggregator Camco International Ltd <CAMIN.L> could be the last
public listed company of its kind if a takeover bid for Swedish
peer Tricorona <TRIC.ST> succeeds.
Energy and environmental technology group Opcon AB <OPCO.ST>
on Wednesday offered to buy Tricorona in an all-share deal
valuing the clean energy project developer at just over 1
billion Swedish crowns ($137 million).
If the deal completes, Camco will be the lone survivor of
consolidation in the sector that started last year and include
investment bank JP Morgan’s <JPM.N> purchase of EcoSecurities
<ECO.L> and a proposed merger between Trading Emissions <TREM.L>
and Leaf Clean Energy <LEAF.L>.
LONDON (Reuters) – Spot volumes in exchange-traded European Union carbon permits were down 66 percent in January compared to a year ago, when analysts said industrial polluters dumped extra credits and rumors swirled about trading fraud.
Trade in spot EU carbon permits (EUAs) across the five major European emissions exchanges was 44.6 million tonnes last month, down from 130.1 million in January 2009, data showed.
LONDON (Reuters) – Still reeling from disappointing UN climate talks in Copenhagen in December, clean energy project developers were dealt another blow this week when U.S. Democrats lost their Senate supermajority, potentially killing a federal cap-and-trade scheme for years to come.
Although the passage of a U.S. bill to cap greenhouse gas emissions in 2010 was far from certain, the election of a Republican in Massachusetts to the Senate on Tuesday derailed any momentum President Obama had following his healthcare push toward introducing a cap-and-trade scheme this year.
LONDON (Reuters) – UK-based carbon offset aggregator Camco International Ltd grew its cash balance to 28 million euros ($40.3 million), the firm said in a trading update on Monday, but faces a steep climb to reach its 2012 offset inventory goal.
Camco received 14.4 million euros in cash proceeds for 4.6 million tonnes of Kyoto Protocol offsets, called Certified Emissions Reductions (CERs), in two deals signed in December.
LONDON (Reuters) – Countries should stop blaming each other for the weak outcome of the Copenhagen climate talks and sit down together to move the process forward, the U.N.’s top climate change official said on Wednesday.
It is still possible to reach a legally binding global treaty, and bickering among countries like China and Britain is unproductive, Yvo de Boer, the head of the UN’s climate change secretariat, told Reuters.
COPENHAGEN (Reuters) – Businesses and investment analysts cautiously welcomed a climate deal struck in Copenhagen on Friday, but complained that it was unclear how its commitments would be translated into law.
The private sector is expected to supply most capital to drive a global shift to a greener economy away from burning fossil fuels.
COPENHAGEN (Reuters) – Prime Minister Stephen Harper brushed off criticism on Friday that Canada would act on climate change only in parallel with the United States, saying this was crucial because of North America’s economic integration.
“If the Americans don’t act, it will severely limit our ability to act, but if the Americans do act, it is absolutely essential that we act in concert with them,” he said.
COPENHAGEN (Reuters) – As President Barack Obama labored behind closed doors to break a deadlock over efforts to curb greenhouse gas emissions, Republicans from the U.S. Congress were outside those meetings urging him not to bother.
“We’re not going to let jobs be destroyed in America for some esoteric environmental benefit 100 years from now,” U.S. House of Representatives member Joe Barton told Reuters on the sidelines of the U.N. conference on climate change.
COPENHAGEN (Reuters) – Brazil is blocking calls to expand carbon finance for emerging nations at U.N. talks, and a spat with Saudi Arabia over forestry and carbon-burying projects could impede a new climate deal, a source close to the talks said.
Several reforms to the $6.5 billion carbon offset market under the Kyoto Protocol, called the Clean Development Mechanism (CDM), have been proposed at climate talks this week in Copenhagen, but few have been agreed so far.