Climex News Update

COLUMBUS, Ohio, July 23, 2008 (ENS) - Wealthy nations could help reduce greenhouse gas emissions globally by paying landowners in developing nations not to clear forested land for agriculture, finds a new study by a research team from Austria, Brazil and the United States.
The research attaches estimated dollar amounts to each metric ton of carbon that could be saved through avoided deforestation in Africa, Central and South America, and Southeast Asia.
Governments willing to spend a total of about $1 billion annually could prevent the emission of roughly half a billion metric tons of the greenhouse gas carbon dioxide a year for the next 25 years. Source: Environment News Service

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Wednesday, July 23 - 03:57

Don't Offset CO2, Retire Them, via Climex

Posted by Jos Cozijnsen in General Interest

At the age of 25, Dan Lewer is going into retirement -- carbon emissions retirement that is. Lewer is co-founder of a new online carbon offset company called Carbon Retirement, which launched on July 15.
Carbon Retirement offers consumers and companies a novel approach to offsetting their carbon footprint by letting them dip into the European Union's Emissions Trading Scheme.
Now in its second phase running from 2008-2012, the EU scheme sets an emissions cap for its heavy industry and allocates a fixed number of permits, called EUAs, each allowing the bearer to pollute or trade the equivalent of one tonne of carbon dioxide (CO2). After an offset purchase is made on its website, Carbon Retirement buys the corresponding EUAs on the spot market, from CO2 exchanges like EXAA in Austria and Climex in the Netherlands. Spot EUAs currently trade around 24.50 euros (US$38.93) a tonne (Source: Reuters)

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Tuesday, July 22 - 17:02

50,778 VERs sold in Climex Auction

Posted by Jos Cozijnsen in Voluntary

During the fourth VER auction on the Climex Auction Platform all VERs on offer were sold on a forward basis. A total of 50,778 validated VERs were on offer from two Chinese Hydro Projects with vintages from 2006 to 2008. Verification and delivery are expected later this year. The transaction was supported by Caspervandertak Consulting and Gansu Tonghe Investment Project Consulting Co. Ltd. who prepared the documentation for the projects and the emission reductions and presented the projects to Climex.
This was the first forward auction of VERs on Climex. One project sold at � 3.50. This price included the costs of verification. The other project sold at � 3,00. In this price the verification costs were not included.
The next VER auction on Climex is scheduled for 28 August 2008. During this auction around 23.500 Social Carbon VCS VERs from a Fuel Switching to Renewable Biomass project in Brazil will be on offer with vintages from 2008 and 2009. Part of the volume consists of issued VERs and part of the volume will be sold on a forward basis.

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Thursday, July 17 - 09:20

Short term volatility; longer term more certainty

Posted by Jos Cozijnsen in Trading

Traders note a very volatile CO2 price trend and don't know what to expect tomorrow; neither do we.... These days very active traders may loose some ground indeed. Nevertheless, traders that need to ensure long term compliance for their clients can feel more certain. The overall perspective for 2020 didn't change much. For news on tighter CER supply we had news on greater shortage when aviation links up. Moreover, this shortage combined with the strategy of banking extra allowances when prices fall, will make long term prices remain between Euro 35 and Euro 40. So, today's contract for 2014, noted at the ECX for Euro 32 looks interesting!

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Monday, July 14 - 11:49

Schwarzenegger slams Bush administration on global warming

Posted by Jos Cozijnsen in General Interest

California Governor Arnold Schwarzenegger said the Bush administration's decision to delay a decision on regulating greenhouse gases showed that it did not believe in global warming. Schwarzenegger, in an interview with ABC television broadcast Sunday, said it would have been insincere for the administration to take action on the harmful emissions with only six months left in George W. Bush's presidency.
"Well, to be honest with you, if they would have done something this year, I would have thought it was bogus anyway... because you don't change global warming and you don't really have an effect by doing something six months before you leave office," he told ABC on Friday.
Schwarzenegger spoke on the day the US Environmental Protection Agency (EPA) issued a report offering no new action against emissions and calling for 120 days of public comment, essentially leaving any decision to the next administration.

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