EU proposes cancelling carbon credits of Kyoto dissenters

By John Parnell

– The day’s top climate change stories as chosen by RTCC
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Tuesday 23 October

Last updated: 1730

Asia: Around 185m people are exposed to flooding and storms in Asia annually, almost doubling since 1970. “Exposure to disaster risk is growing faster than our ability to build resilience and Asia’s rapid economic growth is partly responsible for it,” said UNISDR head Margareta Wahlström. (AlertNet)

UK: The head of the firm charged with constructing the UK’s next generation of nuclear power stations has said he has not made his mind up. Vincent de Rivaz, CEO of EDF Energy told a panel of UK MPs that a green light from the firm required more certainty regarding the support it could expect from the Government. “Our final investment decision requires more progress to be made,” he said. (The Guardian)

EU: The proposal for a Financial Transaction Tax (FTT) in 10 EU countries has been approved by the European Commission clearing the way for a vote on the issue. The tax, which has been touted as a possible source of climate finance, will be voted on by all 27 member states even though the proposal includes only 10, namely Austria, Belgium, France, Germany, Greece, Italy, Portugal, Slovakia, Slovenia and Spain.

Sweden: The world’s largest furniture retailer IKEA has revealed the details of its plans to produce as much renewable energy as it consumes by 2020. The firm already sources 27% of its energy from wind and solar. It will invest $1.9bn to hit 70% by 2015. The company will also look to plant more trees than it uses. The company has already announced that it plans to sell LED lighting only in the near future. (Reuters)

US: Last night’s third and final presidential debate passed without a mention of climate change. It means the 2012 election debates are the first since 1984 not to mention climate change. (The Hill)

UK: A UK-wide survey has found that two-thirds of people would rather have a wind turbine within two miles of their house than a shale gas drilling site. The poll by ICM, but commissioned by the Co-operative, found just 11% would prefer fracking near their own home. The method for shale gas extraction, hydraulic fracturing, or fracking, has been linked to small seismic events and groundwater pollution. (The Guardian)

EU: The EU has called for the massive oversupply of Kyoto Protocol carbon credits held by former Soviet countries to be scrapped, unless they make legally binding emission cuts under the Kyoto Protocol. A second period of commitments will begin from January 1, 2013 and the EU has been encouraging other nations to take part with Australia and New Zealand likely to sign-on. (EurActiv)



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