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.
COPENHAGEN (Reuters) – Trade in controversial carbon rights under the Kyoto Protocol after 2012 could undermine emissions targets agreed under a new global climate pact, the European Union environment commissioner said on Tuesday.
Under the Kyoto treaty, which expires in 2012, nations that are comfortably below their greenhouse gas emissions targets can sell the difference in the form of rights called Assigned Amount Units (AAUs) to countries struggling to meet their own targets.
COPENHAGEN (Reuters) – Demand for new wind power could far outstrip supply under a new global climate deal, the founder of Asia’s largest wind turbine maker said this week, calling for new manufacturers to help industry to fill orders. Tulsi Tanti, also chairman of India’s Suzlon Energy, said due to the size of the 36.5 billion euro ($53.5 billion) wind turbine market, he does not consider existing manufacturers as competition.
“The market is so large. With a deal agreed here it will grow even bigger, so there’s a lot of room for the new players,” Tanti said on the sidelines of U.N. climate talks in Copenhagen. “The industry hopes to grow more aggressively. The 10 (leading manufacturers) are not able to satisfy these targets, so we need more players.”
LONDON (Reuters) – A steel plant in northeast England due to close in January will likely get its 2010 quota of free European carbon permits, worth around 100 million euros ($147 million), the UK government said on Friday.
The Department of Energy and Climate Change (DECC) had said on Wednesday the 7 million European Union carbon permits, equal to one percent of Britain’s annual greenhouse gas emissions, could be auctioned with proceeds going to government coffers.
LONDON (Reuters) – A sustained rise in European carbon prices in 2010 needs renewed buying from utilities rather than a positive outcome from U.N. climate talks in Copenhagen, Barclays Capital’s head of environmental markets said.
“The idea that Copenhagen causes a structural shift in price is not impossible but pretty unlikely. Unless utilities get behind the market it’s not going anywhere,” Louis Redshaw said.