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Aug 11, 2010

ICE cuts staff at Chicago Climate Exchange-sources

LONDON, Aug 11 (Reuters) – Market operator Intercontinental
Exchange Inc. (ICE.N: Quote, Profile, Research, Stock Buzz) is laying off staff at newly acquired U.S.
environmental bourse the Chicago Climate Exchange (CCX),
industry sources told Reuters, citing a lack of U.S. action on
climate change.

They said the first round of layoffs began on July 23 and,
although the total number of jobs to be cut was unknown, one
said around 25 employees, or roughly half CCX’s headcount at the
time of ICE’s acquisition, had already been or were being let
go.

Aug 9, 2010

London to stage two regular season games in 2011

LONDON (Reuters) – The NBA will play two regular season games in London next March, part of a push to bring professional basketball to the city before it hosts the 2012 Olympics, NBA commissioner David Stern said Monday.

The matches, to be held at London’s O2 Arena on March 4 and 5, will feature the Toronto Raptors and the New Jersey Nets and will represent one home date and one away date for both teams, Stern said by phone.

Jul 30, 2010

U.N. panel to probe further Kyoto CO2-cut projects

LONDON (Reuters) – A United Nations climate panel will ask a working group to investigate further claims that a Kyoto Protocol scheme may be incentivizing participants to emit more greenhouse gases, it said on Friday.

Several carbon-cutting projects approved under Kyoto’s $2.7 billion Clean Development Mechanism (CDM), which helps provide carbon finance to emerging economies, have been accused by green groups of intentionally increasing their emissions in order to destroy them and collect more carbon offsets.

Jul 29, 2010

U.N. ends Kyoto CO2 offset drought ahead of key meeting

LONDON (Reuters) – The United Nations’ climate secretariat on Thursday issued 228,400 Kyoto Protocol carbon offsets to three Asian clean energy projects, ending a two-week issuance drought but failing to reassure concerned investors.

The offsets, called Certified Emissions Reductions, were given to two Chinese wind farms and an Indian biomass facility, and represented the largest daily issuance since June 16.

Jul 14, 2010

Analysis: Layoffs, lost business for London’s carbon brokers

LONDON (Reuters) – London’s once high-flying carbon emissions permit brokers have been grounded by the recession and dwindling client volumes, with layoffs and business lost to exchanges clouding the horizon of a once sunny future.

The London-based desk at CantorCO2e, one of the many players in the now over-crowded European emissions trading space, was the latest casualty as the firm laid off its last three carbon brokers in the UK earlier this month, sources told Reuters.

Jul 9, 2010

EU sets 2013 industry CO2 cap at 1.927 bln tonnes

LONDON (Reuters) – Greenhouse gas emissions from heavy industry currently regulated under the European Union’s Emissions Trading Scheme will be capped at 1,926,876,368 tonnes of carbon dioxide in 2013, the EU Commission said on Friday.

In the scheme’s third phase, which runs from 2013-2020, the emissions cap will then be tightened at an annual rate of 1.74 percent of the average Phase 2 (2008-2012) cap of 2,032,998,912 tonnes, or by 35,374,181 tonnes per year, the Commission said on its website.

Jul 6, 2010

Businesses push for decisions on EU carbon scheme

LONDON (Reuters) – The European Union is under pressure to finalize details on its emissions cap for industry from 2013, how carbon permits will be auctioned and the amount to be given to airlines when they join the EU’s scheme in 2012.

Businesses say they urgently need clarity on these still undecided elements surrounding the EU’s Emissions Trading Scheme, the bloc’s main weapon to fight climate change, in order to minimize compliance costs in its third phase (2013-2020).

Jul 2, 2010

Kyoto may push factories to pollute more – U.N. report

LONDON (Reuters) – A Kyoto Protocol scheme may be encouraging projects to emit more greenhouse gases because of incentives to earn carbon offsets from subsequently destroying these, a U.N. report said.

The projects under investigation are the most lucrative under Kyoto’s Clean Development Mechanism (CDM) and account for more than half carbon offsets sold under the scheme. Limiting their output could impact carbon prices.

Jun 30, 2010

Kyoto CO2 offset issuances grind to crawl in June

LONDON (Reuters) – June has been the worst month in over a year for the issuance of UN-backed carbon offsets, data compiled by Reuters showed, as auditor suspensions, bottlenecks and possible rule changes hinder requests from projects.

Only 3.4 million offsets have been issued by the U.N.’s climate change secretariat this month, the lowest level since May 2009, when 2.3 million were handed to clean energy projects registered under the Clean Development Mechanism. In the 12 months before June, the monthly average was 10.8 million.

Jun 28, 2010

Emissions auditors get poor grades for second year

LONDON (Reuters) – Firms that audit greenhouse gas-cutting projects approved under a Kyoto Protocol carbon offset scheme received poor grades from green groups for a second year, a report said on Monday.

Unqualified and insufficiently trained personnel was cited by WWF and Germany’s Oeko-Institute as a problem plaguing emissions auditors, accompanied by ambiguous scheme rules and a general failure to show that the clean energy projects they approved would not be feasible without getting carbon offsets.

    • 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
      Languages:
      English, French
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