EU carbon price collapses after voting setback

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EU: Carbon prices in the EU Emissions Trading Scheme slid to a new record low of €2.81 yesterday after a European Parliament committee voted against plans to reform the system. The energy and industry committee voted down a plan to withhold 900m credits in an effort to prop up the price. While not binding in any way, it is a bad sign for the direction voting on the proposal will go in the future. (EurActiv)

Global: An investigation by The Independent newspaper in the UK claims to have found a paper trail linking the billionaire Koch brothers to anonymous funding of climate sceptic campaigns. While the brothers are known to have donated funds to this cause previously, the report claims the Kochs are also major contributors to The Donors Trust and the Donors Capital Fund. Both offer anonymity to its backers and have invested millions of dollars to efforts casting doubt on climate science. (The Independent)

USA: Senator John Kerry has promised to be a “passionate advocate” on climate change if selected to be the next US Secretary of State. He told the Senate Foreign Relations Committee during his nomination hearing that he would base his approach to climate change on science, not ideology. (RTCC)

USA: An insider in the Obama administration says the President wants to see “targeted and smart” investments in research and demonstration projects, and will also use the upcoming corporate tax reform process to try to “level the playing field” for renewable forms of energy (Reuters)

Ukraine: Shell has signed a 50-year shale gas deal in Ukraine. Shell says the size of the reserves involved are comparable to those of Algeria, a major gas exporter. (New York Times)

Oslo: Norway could store 100 times its annual emissions of carbon dioxide under the Norwegian Sea to help fight climate change, adding to its even bigger potential under the North Sea, an official report showed on Friday. (Reuters)




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