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EU carbon trading survives key vote
2013-02-22 10:00:00| Climate Ark Climate Change & Global Warming Newsfeed
United Press International: The beleaguered EU carbon emissions trading system survived a key vote in the European Parliament this week, in which MEPs agreed to "backloading." The Parliament's Committee on Environment, Public Health and Food Safety, ENVI, voted by a substantial margin Tuesday to endorse the European Commission's call to backload, or withhold, 900 million tons of carbon allowances that were set to be auctioned for the 2013-15 period. The total -- amounting to about one-quarter of the planned auction --...
New Report Warns of Canada's Looming 'Carbon Trap'
2013-02-21 07:01:00| Climate Ark Climate Change & Global Warming Newsfeed
Canadian Press: A new report warns of the perils to the Canadian economy of relying too much on the oilsands. The Canadian Centre for Policy Alternatives study says Canada is heading towards a "staples trap," whereby the more quickly bitumen is exported, the less diversified and productive the economy becomes. The study's authors also warn of a looming "carbon trap" in which the Canadian economy is so closely linked to carbon-producing industries that it becomes difficult to adopt measures to deal with climate...
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Coal country bank first to report carbon footprint to shareholders
2013-02-21 07:00:00| Climate Ark Climate Change & Global Warming Newsfeed
Mother Jones: There's a growing interest among enviros these days in combating climate change with direct offensives against the fossil fuel industry, sights locked on its bottom line. The idea is that while we scramble to invent more efficient light bulbs and throw up solar panels, we also chip away at the mountain of money that gives the industry its power, by turning shareholders on to the idea that unwise investments can make them accomplices in global warming. Activist investment is nothing new, of course,...
China pushes forward with carbon tax plans
2013-02-21 01:05:00| Climate Ark Climate Change & Global Warming Newsfeed
BusinessGreen: The Chinese government has provided further details of its plans to introduce a carbon tax as part of a package of tax reforms that will also see new levies introduced on scarce resources and environmentally damaging activities. State news agency Xinhua reported this week that a senior official at the Ministry of Finance (MOF) has confirmed the plans are progressing and will see a new carbon tax and environmental protection replace existing pollution discharge fees. Writing on the MOF website...
Carbon price plunges 20 per cent after EU backloading vote
2013-02-20 11:39:00| Climate Ark Climate Change & Global Warming Newsfeed
BusinessGreen: The price of EU carbon allowances plunged 20 per cent yesterday, after lawmakers delayed drafting legislation to prop up the ailing bloc's emissions trading scheme (ETS). Allowances were traded at just over EUR4 (3.50) yesterday before rebounding to EUR4.68 later in the day, a 12-day low but a marginal improvement on the record low prices of about EUR3 recorded last month. The movement was sparked after the European Parliament's Environment Committee yesterday approved a plan to address the...
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