Controversial Spewed Iron Experiment Succeeds as Carbon Sink

Controversial Spewed Iron Experiment Succeeds as Carbon Sink: Scientific American
Fertilizing the ocean with iron could help reduce atmospheric carbon dioxide levels, according to newly released findings of a research cruise. Why? In a word, diatoms.  A hunger for iron rules the microscopic sea life of the Southern Ocean surrounding ice-covered Antarctica. Cut off from most continental dirt and dust, the plankton, diatoms and other life that make up the broad bottom of the food chain there can't get enough iron to grow. And that's why some scientists think that artificially fertilizing such waters with the metal could promote blooms that suck CO2 out of the air. Then, when these microscopic creatures die, they would sink to the bottom of the ocean and take the carbon with them...

Global CO2 Emissions Rise 3 Percent in 2011

Global CO2 Emissions Rise 3 Percent in 2011: Scientific American
Global carbon dioxide emissions rose 3 percent to 34 billion tonnes in 2011, according to a new EU report, undermining a U.N. goal to limit the rise in global average temperatures to 2C above industrial levels by 2050.  According to the report, published Wednesday by the European Commission's Joint Research Centre (JRC) and the Netherlands Environmental Assessment Agency, nations cannot emit more than 1.500 trillion tonnes of CO2 between 2000 and 2050 to meet the threshold recommended by a U.N. scientific panel.  "If the current global trend of increasing CO2 emissions continues, cumulative emissions will surpass this limit within the next two decades," the JRC said in a statement.

Amonix Closes U.S.-Backed Solar-Panel Facility in Nevada

Amonix Closes U.S.-Backed Solar-Panel Facility in Nevada - Bloomberg
Amonix Inc., a closely held maker of solar panels that qualified for $21.5 million in federal subsidies, closed its 214,000-square-foot plant in Nevada.  The company, based in Seal Beach, California, plans to restructure its operations and will vacate the factory by early August, according to an e-mailed statement today. It also has a research lab in Torrance, California, and an office in Singapore, according to its website.  Amonix said the decision to close the plant was based on “challenging” pricing for solar panels and low demand for its concentrated photovoltaic systems, according to the statement.  “We looked at several options and were really hoping that we could keep the North Las Vegas manufacturing facility, but it is not economically possible,” the company said.

As Drought Kills Corn, Farmers Fight Over Ethanol

As Drought Kills Corn, Farmers Fight Over Ethanol : The Salt : NPR
We often talk about the "farm lobby" as though farmers spoke with a unified voice. And it's true, they usually try to.  But an unusually bitter and public fight is breaking out right now between the farmers who grow corn and other farmers who need to buy that corn.  There are two reasons. The first is the drought that's killing corn and soybean fields across the Midwest, sending feed prices are soaring and fraying the nerves of livestock producers, who are wondering whether they'll even manage to stay in business.  The second reason is ethanol.  Farmers who raise America's cattle, hogs, and chickens never appreciated Washington's infatuation with biofuels — especially ethanol that's produced from corn. After all, when the government nudges more corn toward ethanol factories, it means that there's less available for animals. Last year, in fact, 40 percent of the country's corn harvest went to ethanol production.

Italy Seeks $18 Billion Investment Ditching Offshore Ban

Italy Seeks $18 Billion Investment Ditching Offshore Ban: Energy - Bloomberg
Mario Monti’s government is trying to attract as much as $18 billion in investment to Italy by relaxing a ban on offshore oil and gas exploration imposed by Silvio Berlusconi after the 2010 Gulf of Mexico spill.  The premier, who must jump-start the economy to help stem Italy’s debt crisis, last month ruled that companies such as Eni SpA (ENI), Edison SpA (EDN) and Royal Dutch Shell Plc (RDSA) can resume shallow- water projects within 12 kilometers (7 miles) of the coast they were forced to abandon in 2010. The decree needs Parliamentary approval and the lower house is set to debate it July 23.  Monti is brushing aside opposition from environmental lobbyists to get more crude and gas flowing to the energy-poor nation while helping Shell, Europe’s largest oil company, pay off its investment. Offshore output could double within a few years, attracting 15 billion euros ($18 billion) in spending, Economic Development Minister Corrado Passera said. It also may reduce Italy’s energy bill by 6 billion euros, he said. 

Siemens and Dong energy sign €2.5bn offshore wind power deal

Siemens and Dong energy sign €2.5bn offshore wind power deal | Environment | guardian.co.uk
Siemens' plans for a new wind turbine manufacturing facility in the UK have taken a significant step forward, after the company announced it has inked a major new offshore-turbine supply deal with developer DONG energy.  The two companies have signed a framework agreement that will see Siemens supply 300 of its 6MW offshore turbines to offshore wind-farm projects planned by DONG for UK waters between 2014 and 2017.  The financial details of the deal were not disclosed, but analysts estimate that offshore turbines typically cost around €1.4m per MW, putting the total cost of the 1,800MW at €2.52bn.

UN sees future for carbon scheme despite price drop

UN sees future for carbon scheme despite price drop | Reuters
The United Nations' carbon offset market has a long future in helping the world curb man-made greenhouse gas emissions, even with carbon prices at record lows, the executive chairman of the U.N. Clean Development Mechanism (CDM) said on Thursday.  U.N-backed carbon credits, called certified emissions reductions (CERs), have plunged around 70 percent over the past 12 months as a massive supply of credits has built up because of a drop in demand due to a slowing economy. The benchmark CER contract hit record lows below 3 euros this week.

Latest Carbon News Headlines

Thomson Reuters Point Carbon's OTC price assessments

		Close	+/-
EUA	Dec 2012	6.88	-0.32
sCER	Dec 2012	2.95	-0.05

 

 

Latest Carbon Market News

Markets

19 Jul 2012 17:39

"Deficient" EU reforms raise CO2 market security fears: lobby

LONDON, July 19 (Reuters Point Carbon) - Sweeping reforms designed to beef up security in the world’…

Buy/Free trial

Corporate

19 Jul 2012 17:00

UK fund targets CO2 credits from huge area in Brazil’s Amazon

SAO PAULO, July 19 (Reuters Point Carbon) –The Brazilian Amazon state of Amapa has given a British i…

Buy/Free trial

EU ETS

19 Jul 2012 18:28

EUAs fall 4 pct amid stop-loss selling

LONDON, July 19 (Reuters Point Carbon) - EU Allowances fell 4 percent to a fresh five-week low as tr…

Buy/Free trial

Markets

19 Jul 2012 18:04

UN sees future for carbon scheme despite price drop

LONDON, July 19 (Reuters) - The United Nations' carbon offset market has a long future in helping th…

Buy/Free trial

Policy

19 Jul 2012 10:57

Global CO2 emissions rise 3 pct in 2011: report

BEIJING, July 19 (Reuters Point Carbon) - Global carbon dioxide emissions rose 3 percent to 34 billi…

Buy/Free trial

Policy

19 Jul 2012 10:45

Australia to review renewable energy target scheme

BEIJING, July 19 (Reuters Point Carbon) - Australia’s Climate Change Authority has launched a review…

Buy/Free trial

Markets

19 Jul 2012 10:43

NZ carbon falls 21.6 pct after EUAs slump

BEIJING, July 19 (Reuters Point Carbon) - Spot permits in the New Zealand emissions trading scheme f…

Buy/Free trial

Acciona looks to issue $335m of wind bonds

Environmental Finance | News | Acciona looks to issue $335m of wind bonds
Energy and infrastructure developer Acciona is looking to raise $335 million from bond investors to refinance two Mexican wind farms.The firm’s Oaxaca II and Oaxaca IV wind farms began operating earlier this year. Both have capacity of 102MW, and are located in the southwest Mexico state.  One $167.5 million bond is to be issued for each wind farm, to be repaid within 20 years at a to-be-determined fixed interest rate. Both projects have fixed-price offtake agreements with the Federal Electricity Commission until 2032.

Allianz sets up ESG Board

Environmental Finance | News | Allianz sets up ESG Board
German insurance giant Allianz has set up a board to advise on environmental, social and governance (ESG) issues across the organisation, in what it says is a first of its kind.  The development follows a creation last year by Allianz of an ESG advisory board, for the asset management of its own funds.  “We found that this is a very good approach, so the question was why we limit this to our own investments?” Nicolai Tewes, senior vice-president of corporate affairs, told Environmental Finance.

Greenhouse Projects Watch as EU Polluters Profit

Greenhouse Projects Watch as EU Polluters Profit: Lobby - Businessweek
Developers of United Nations- sanctioned emission-reduction projects say they are “bitter” as polluting factories in Europe may be making more money buying their credits than they can by selling them.  ThyssenKrupp AG (TKA), Germany’s biggest steelmaker, and Tata Steel Ltd. (TATA) can profit from emissions trading at a time when share prices for two publicly listed project developers, Camco International Ltd. (CAO) and Trading Emissions (TRE) Plc, are slumping amid last year’s record oversupply in the European Union market. And the economy slows. The euro region will contract 0.4 percent this year, according to the median of 43 forecasts compiled by Bloomberg...

As corn burns, excess ethanol credits help dampen demand

Analysis: As corn burns, excess ethanol credits help dampen demand | Reuters

As drought devastates the U.S. corn crop, relief from near-record prices may come from an unexpected quarter: oil companies, which may buy less ethanol than their government mandate suggests.
With a 50 percent surge in corn prices stirring fears of global food inflation and threatening to revive the debate over using crops for fuel, traders are zeroing in on a little-known niche of the ethanol business known as Renewable Identification Numbers (RINs) that may help ease the pressure on corn.