The EU Will Exceed 20% Green Energy Target

A report by the European Wind Energy Association (EWEA) has found that the European Union (EU) will exceed its target of meeting 20% of its energy needs from renewable sources by 2020.

Out of the 27 member states, 25 expect to meet or exceed their national targets, EWEA said, based on its analysis of national action plans submitted by EU governments to the European Commission.

"Taken together, the action plans show that the EU-27 will meet 20.7 percent of its 2020 energy consumption from renewables," said Justin Wilkes, policy director at EWEA.

Spain has said it is expecting to surpass its goal by 2.7% and Germany by 1.6%. Luxembourg and Italy, which are predicted to fall short of their national targets by 2.1% and 0.9%, said they plan to import renewable energy from other countries to make up the shortfall.

This shows the growth in the environmental markets, despite the global downturn of the past few years. The carbon credit markets will continue to grow as the target dates near.

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EEX Sets Trading Expansion Priorities

The European Energy Exchange said expanding its carbon-dioxide trading is a priority as the European Union moves toward auctioning permits in the world's biggest such market.

EEX, based in Leipzig, Germany, is continental Europe's largest energy exchange for emission rights, power, natural gas and coal. The platform started handling carbon sales for Germany's Environment Ministry this year and is preparing to take part in a tender to become an operator for the planned EU auctions in 2013, Managing Director Oliver Maibaum said.

"Our top priority is to play a bigger role in the carbon market," Maibaum said today in an interview at the EMART conference in Amsterdam. "The volumes will be bigger after the EU starts auctioning. This already attracts many players and the feedback from our traders is that there's more potential."

The EU, which has given away the majority of allowances since its emission-trading system started in 2005, will require most emitters to buy their permits when its third phase starts in 2013. The bloc will auction about 60 percent of the total in the first year and increase the proportion in following years, according to estimates from the European Commission.

The cap for CO2 discharges for 2013 has been set at 2.04 billion tons, valued at about 31 billion euros at today's price. This limit includes aluminum and chemical makers that join the program in the third phase. An adjustment is also planned for airlines that will become part of the system from 2012.

Maibaum said the EEX was in negotiation for more market makers to boost liquidity from its current four in each gas and power trading and two for carbon. The exchange plans to add time spreads for EU carbon allowances to its current offer of spot and futures.

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Carbon Offset Investors Have Long-Term Confidence

Investors in the United Nations' Clean Development Mechanism (CDM) now have more confidence in the carbon offset market after 2012 after the number of post-2012 carbon credit deals rose in recent weeks.

On Thursday, UK-based project developer Camco International reported for the first time that it had secured options in CERs due to be issued after 2012 because of more interest from buyers and more market transactions taking place.

"The market has evolved. There is a tangible value for post-2012 credits," Yariv Cohen, Camco's chief carbon officer, told Reuters.

In a project development update, Camco said it has contracts for a risked 28.1 million tonnes and holds contractual rights of up to a further risked 27.6 million tonnes.

This week alone saw three post-2012 deals announced.

A consortium agreed to buy 2 million pre-2012 and post-2012 CERs from a Moroccan wind farm project, while Vitol SA bought 8.5 million CERs from carbon asset manager KYOTOenergy Pte, of which 92 percent are expected to be issued after 2012.

German chemical company Lanxess invested 7 million euros ($9.67 million) in an Indian biomass project to earn post-2012 CERs, Point Carbon reported.

In September, French carbon investor CDC Climat set up a subsidiary to manage 60 million euros of investment in carbon assets, including post-2012 credits.

"Demand been up for a quite a while. People are making sure they are positioned properly for 2012," said Simon Glossop, partner at CF Partners.

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International Aviation Companies Agree to Emissions Trading

The European Union claimed victory at an international aviation meeting, saying the participants accepted the EU’s plan to cap emissions by domestic and foreign airlines serving Europe as of 2012.

The European Commission, the 27-nation EU’s executive arm, also said the International Civil Aviation Organization reached a “breakthrough” agreement at its meeting that ended yesterday to curb global aircraft discharges of greenhouse gases beginning in 2020.

Such pollution is blamed for global climate change, which the EU is handling in part by adding airlines to its emissions trading system in less than 15 months.

Emissions from international aviation account for 2% to 3% of global greenhouse gas discharges and their share is expected to rise in the coming decades as the industry grows, according to the EU.

The EU carbon market, started in 2005, is the world’s largest. It covers about 12,000 installations that produce energy or goods ranging from paper to cement. Emitters must have an allowance for each ton of carbon dioxide they let off. Those producing more than their allowance have to buy more; those that emit less can sell their surplus.

The bloc is on track to reduce greenhouse gas emissions by 20 percent this decade from 1990s levels and said it’s ready to deepen the target to 30 percent if other countries follow suit.

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Green Investment Bank to boost UK's Low Carbon Status

The coalition government in the UK has released details of a potential Green Investment Bank.
The released report focuses on the importance of the UK becoming a low-carbon economy, reducing emissions, offsetting carbon and investing in the growing green energy markets.
The report finds that private sector investment will be crucial in shifting the country to an eco-friendly economy.
The general secretary of the TUC commented, saying the bank would be a, "major step towards the crucial goal" of making the UK into a "world-leading green economy".
The bank has been described as carrying out investments with a social purpose as well as creating income streams for investors. Its job will be to raise the necessary equity and debt finance to fund nuclear power stations, wind farms, smart grids and other green energy projects.
The move is seen as indicating further interest in green energy investment in the UK and across the world.

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EU Says Aviation Organization Recognizes European Carbon Market

| Sourced From Bloomberg |

The European Union claimed a diplomatic victory at an international aviation meeting, saying the participants accepted the EU’s plan to cap emissions by domestic and foreign airlines serving Europe as of 2012.
The European Commission, the 27-nation EU’s executive arm, also said the International Civil Aviation Organization reached a “breakthrough” agreement at its meeting that ended yesterday to curb global aircraft discharges of greenhouse gases beginning in 2020.
Such pollution is blamed for global climate change, which the EU is handling in part by adding airlines to its emissions trading system in less than 15 months.
“Critically, the deal is a good basis for proceeding swiftly with the inclusion of aviation in the EU’s Emissions Trading Scheme,” EU Climate Commissioner Connie Hedegaard said in a statement published in Brussels today. “The goal is not as ambitious as Europe thinks it should be, but at the same time ICAO has recognised that some states may take more ambitious actions prior to 2020.”
The agreement, reached in Montreal after almost a decade of deadlock at ICAO, will cover more than 90 percent of worldwide air traffic, the EU said in the statement. Emissions from international aviation account now for 2 percent to 3 percent of global greenhouse gas discharges and their share is expected to rise in the coming decades as the industry grows, according to the EU.
EU Carbon Market
Participants of the meeting “refrained from language which would make the application of the EU’s ETS to their airlines dependent on the mutual agreement of other states,” the EU said in the statement. “It was this requirement that led to a stalemate at the last ICAO assembly in 2007.”
The EU carbon market, started in 2005, is the world’s largest. It covers about 12,000 installations that produce energy or goods ranging from paper to cement. Emitters must have an allowance for each ton of carbon dioxide they let off. Those producing more than their allowance have to buy more; those that emit less can sell their surplus.
The bloc is on track to reduce greenhouse gas emissions by 20 percent this decade from 1990s levels and said it’s ready to deepen the target to 30 percent if other countries follow suit.
The next round of international talks on climate are due to start toward the end of November in Cancun, Mexico.


carbon trading