Environmental Markets Correspondent/Communities Editor
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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.

Mar 31, 2010

Costs, confusion greet new UK carbon trade scheme

LONDON (Reuters) – Britain’s new scheme to cut corporate energy usage and carbon emissions will slash billions from power bills, according to the government, but companies remain confused over compliance and concerned over its costs.

The mandatory Carbon Reduction Commitment Energy Efficiency Scheme (CRCEES), which begins Thursday, forces businesses like banks, hotels, hospitals and schools to help cut annually by 2020 British greenhouse gas emissions by 4 million tonnes and corporate energy bills by 1 billion pounds.

Mar 31, 2010

Trading Emissions plagued by U.N. delays

LONDON (Reuters) – Clean energy developer Trading Emissions (TREM) trimmed its Kyoto Protocol carbon offset portfolio on Wednesday, citing delays in project registrations at the United Nations, its investment adviser said.

In its half yearly report, TREM said its portfolio of risk-adjusted offsets, called Certified Emissions Reductions (CERs), stood at 49.9 million tons as of March 31, of which 38.7 million is for delivery before 2012.

Mar 26, 2010

U.N. panel suspends two more carbon emissions auditors

LONDON (Reuters) – The reputation of a Kyoto Protocol carbon finance scheme was dealt another blow after a UN climate panel late on Friday suspended the third emissions cut verifier in 15 months, and partially suspended a fourth.

The scheme’s executive board suspended emissions auditors TUEV SUED and partially suspended Korea Energy Management Corporation (KEMCO) after spot checks at the companies’ offices revealed procedural breaches.

Mar 4, 2010

Kyoto carbon offset (CER) issuances picking up

LONDON (Reuters) – The UN shaved its forecast for 2012 Kyoto Protocol carbon offsets this week, despite a rise in the number issued by its climate change secretariat last month.

The UN issued 13.3 million offsets in February, the most seen since last November, but cut the number it expects to hand out before the current Kyoto treaty expires in 2012 to 1.035 billion tonnes of carbon dioxide equivalent.

Mar 3, 2010

EU plans two platforms, 2011 start for CO2 auctions

BRUSSELS/LONDON, March 3 (Reuters) – The European Commission
is considering auctioning emissions permits from 2011 over
centralised platforms and might cancel auctions if carbon prices
are “abnormally low”, two leaked documents seen by Reuters on
Wednesday show.

Officials in the EU’s executive, pressured by industry
calling for longer-term visibility on carbon permit prices, are
deciding how to arrange auctions ahead of the third phase of
bloc’s Emissions Trading Scheme (ETS), which starts in 2013.

Feb 23, 2010

Geothermal energy gets cash but hits roadblocks

LONDON/SAN FRANCISCO (Reuters) – Technology to generate energy by harnessing the earth’s inner heat is finally getting respect and looks on track to test ways to expand the industry, thanks to new U.S. government funding.

But steep startup costs and financing remain barriers, and new geothermal technology to pump cold water into hot rock also has sparked worries about the risk of manmade earthquakes, dimming prospects for near-term expansion.

    • 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."
      Joined Reuters:
      June 2005
      English, French
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