LONDON (Reuters) – Project developers are baffled by a U.N. climate panel’s decision to block 10 Chinese wind farms from receiving carbon financing, saying the move could slash investment in Chinese wind and other forms of clean energy.
After noting a drop in financial support from Beijing in the form of tariffs, the panel on Friday rejected the projects, saying they were profitable and capable of cutting greenhouse gas emissions without receiving carbon offsets under the Kyoto Protocol’s Clean Development Mechanism (CDM).
LONDON, Dec 4 (Reuters) – A United Nations climate panel on
Friday blocked carbon financing for around 10 Chinese wind
farms over concerns about whether they are financially viable
without receiving carbon offsets, the panel said.
The panel also lifted a suspension on emissions verifier
SGS UK, one of the biggest players in the $6.5 billion carbon
offset market, the panel’s chairman Lex de Jonge told Reuters.
LONDON (Reuters) – A leading British economist said leaders at climate talks in Copenhagen next week should agree a successor to the Kyoto Protocol without a U.S. commitment to cut its greenhouse gases.
Michael Grubb, a member of Britain’s Committee on Climate Change and a professor at Cambridge University, said countries that signed up to Kyoto should agree on new emissions cuts.
LONDON (Reuters) – Climate skeptics, people who doubt the science on global warming, must not be allowed to sabotage U.N. climate talks which start next week, Britain’s Energy and Climate Secretary said Thursday. “I do think that we have to beware of the climate saboteurs, the people who want to say the science is somehow in doubt, and want to cast aspersions on the whole process,” Ed Miliband told reporters at a briefing.
“I’m not claiming there’s a conspiracy, but there are interests that don’t want to see an agreement in Copenhagen.”
LONDON (Reuters) – A United Nations climate panel will rule this week on whether seven Chinese wind farms are eligible for climate financing, worth around 36 million euros ($54.3 million), the panel’s chair told Reuters on Wednesday.
The panel is reviewing these projects after conditionally approving 17 other Chinese wind farms for financing of around $150 million in September following a drop in financial support from Beijing in the form of tariffs.
LONDON (Reuters) – Investors welcomed new China and U.S. climate targets 10 days before a U.N. summit but an Australian carbon vote delay hinted at wider difficulties to cement a global deal.
Traders in a $126 billion carbon market want tight climate targets to boost demand for emissions permits, and energy companies want to know the full future costs — including from carbon — of burning fossil fuels as they plan new power plants.
There will be a record number of side events at the United Nations-sponsored climate talks in Copenhagen next month, but one woman’s one-woman show could give the delegates, most of whom will be men, the incentive they really need to agree a new global warming treaty.In “The Boycott“, Kathryn Blume plays Lyssa, First Lady of the United States and climate crusader. Loosely borrowing from a play from ancient Greece, Lyssa launches a nationwide sex strike to fight global warming. As the play unfolds, Lyssa is forced to take on her indifferent husband, a hostile press and a romantic rival who’s not only in bed with the President, but with the oil industry as well.
Blume is co-founder of the Lysistrata Project, named after the Aristophanean comedy on which The Boycott is based. Originally performed in ancient Athens in 411 BC, Lysistrata tells the tale of one woman’s attempt to end the Peloponnesian War by convincing all women to withhold bedroom privileges from their husbands.”I’m an obscure solo performer from Vermont … And I’m in a chronic, weepy panic over the fact that serious climate change is happening now and while the whole point of this piece is to help save the world, I’m afraid it’s already too late,” Blume writes on her website.Blume will perform her play in Copenhagen at 8pm on Thursday, Dec. 10 at Klimaforum09, a parallel “people’s” climate change summit featuring live debate, art, music and film.More than 20,000 people will congregate in the Danish capital between Dec. 7-18 as government officials from nearly 200 countries try negotiate a successor treaty to the Kyoto Protocol, which is due to expire in 2012.
LONDON (Reuters) – An injection of U.S. talent into the $6.5 billion market in carbon offsets would help clear bureaucratic bottlenecks, making way for increased investment in clean energy, the CEO of a $310 million environmental fund said.
Under the Clean Development Mechanism (CDM), an emissions trading scheme governed by the Kyoto Protocol climate change pact, companies can invest in low-carbon projects in emerging countries. In return they receive offsets that can be used toward greenhouse gas targets or sold for profit.
LONDON (Reuters) – A U.N. summit in Copenhagen next month is unlikely to agree on a new global climate treaty, but carbon market players are urging delegates to seize the opportunity to agree reforms to the $33 billion trade in carbon offsets.
There is a growing global consensus that talks in the Danish capital to forge a successor to the Kyoto Protocol will lead to only a political agreement including emissions cuts by rich countries, with agreement on a full binding treaty in 2010.