Category Archives: Carbon Markets

Green revolution to stem deforestation

©Anne Chaon/AFP/Getty Decline and fall: Liberian forests cleared for rubber plantations Revolution is in the air in Liberia. Or, more accurately, in the forests, which cover more than 40 per cent of the country and are considered one of west Africa’s most important carbon sinks and biodiversity hotspots. The movement is not seeking to topple the government. Indeed it is…

Investors seek ethical benchmarks

©Getty Divestment debate: a kayak flotilla of protesters in Seattle opposing exploration by Shell off Alaska With the Paris climate talks just days away with the aim of reaching a radical deal between countries to curb their greenhouse gas emissions, investors’ role in making this a reality is in the spotlight. After many years when environmental issues were seen as…

Chorus of fossil fuel disapproval at the opera

©@indyrikki Protesters unfurled their banner in the opera house before singing a lament about BP’s troubles in the Gulf of Mexico Some of Britain’s biggest arts organisations and museums can expect a summer of disruption as the popular movement for fossil fuel divestment gathers pace, climate change activists have warned. Protesters against BP’s sponsorship of the Royal Opera House on…

G7 agrees to phase out fossil fuels

©EPA German chancellor Angela Merkel and US president Barack Obama at the Alpine meeting The Group of Seven industrial powers have agreed the world should phase out fossil fuel emissions this century, in a move hailed as a historic decision in the fight against climate change. G7 leaders meeting in Bavaria, Germany, said that in line with scientific findings, “deep…

EU reforms boost European carbon market

European parliamentarians made a significant step towards repairing the EU’s ailing carbon market on Tuesday, setting a 2018 start date for a key reform that should help the price of allowances recover from rock-bottom levels. Traders had been expecting the move over the past weeks and carbon prices closed at a two-year high of €7.80 per tonne on Monday, up…

Political divisions hit EU carbon price

Carbon prices plunged almost 6 per cent on Thursday after a bumpy start to the EU’s attempt to fix its dysfunctional carbon market, with bitter divisions among parliamentarians creating uncertainty among traders. Europe’s Emissions Trading System is the world’s biggest cap-and-trade market, covering more than 11,000 factories and companies, but it has proved a blunt instrument in the fight against…

Wolfson vindicated on Next executive pay

Simon Wolfson is seldom short of ideas. One of the Next chief executive’s better ones has been vindicated this week, although it has taken nearly a decade. In 2004, he devised an incentive scheme for his fellow executives at Next, paying them bonuses totalling £1m, on condition that they matched the post-tax value of their allocation with their own money…

Carbon market chief denounces European policy

©AFP The head of the world’s only global carbon market has said the “dumb decisions” of bureaucrats in Brussels have brought the system to the point of near-irrelevance. Hugh Sealy said the UN-backed Clean Development Mechanism had been undermined by a Brussels decision to restrict the use of its permits in the EU emissions trading system, the largest scheme of…

EU plans to revive lifeless carbon market

Since 2008, Europe’s carbon market has shown symptoms of terminal decline. Rock bottom prices for allowances have given industry little incentive to diversify away from fossil fuels. But traders believe market sentiment is poised for a boost in the coming weeks, expecting signals from Brussels that EU leaders will try to resuscitate the Emissions Trading System, the world’s biggest cap-and-trade…

Carbon emissions: hot and coal

It cannot get much worse for US coal miners. So the incremental damage from President Barack Obama’s carbon emission reduction plan, to be announced on Monday, may be muted. The fallout for power producers, which rely on coal as well as natural gas, nuclear and renewables, is trickier to predict. US coal producers have two problems already. Utilities have shifted…