Big polluters: Australian carbon price to stay, amid uncertainties – study

A study from the Australian National University has found that majority of the countries large emitters, carbon financiers, and carbon market experts feel the carbon price will make its mark in the country. Roughly 79 percent of the respondents think the carbon price will be around in 2020, but 38 percent are skeptical and think it would be repealed in three years time, the report finds. Of those doubting the price, half think it would be reinstated in 2020.

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R.G.G.I. auction bids out 57 percent of carbon allowances offered

The latest quarterly auction of carbon dioxide allowances under the Regional Greenhouse Gas Initiative fetched $40.4 million recently for the United States’ first mandatory carbon dioxide emissions reduction program. In the recent auction, the 16th quarterly sale so far, about 20.9 million carbon dioxide allowances were sold, representing 57 percent of the 36.4 million allowances offered. Each carbon dioxide allowance can account for 1 short ton of carbon dioxide emissions.

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Figueres to the carbon market: ‘Demand more’

To hasten the achievement of a low-carbon world, industry needs to step up its climate change adaptation measures and push for governments to take climate policy action, says United Nations Framework Convention on Climate Change executive secretary Christiana Figueres. Speaking to carbon market industry stakeholders at this year’s Carbon Expo in Cologne, Ms. Figueres said they have a critical role to play in the move toward a low-carbon future aside from delivering the resources necessary to tackle climate change.

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Voluntary carbon offsetting hit $576 million in 2011

The global voluntary carbon offsetting market amounted to more than $576 million in 2011 according to a new report released by Forest Trends’ Ecosystem Marketplace initiative and Bloomberg New Energy Finance. Voluntary carbon offsetting refers to the market of entities not required to cap their carbon emissions by either national or regional legislation, but still buy carbon credits to mitigate their greenhouse gas emissions.

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No anti-competitive conduct in CO2 allowances – report

An independent power market monitor’s 2011 report ruled out doubts that the Regional Greenhouse Gas Initiative’s carbon dioxide allowances are becoming prone to anti-competitive conduct. Potomac Economics, an analyst and legal adviser for the electricity industry, said it found no material concerns regarding the auction process; barriers to participation in the auctions; competitiveness of the auction results; or competitiveness of the secondary market for the allowances.

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Citi buys carbon credits from Mongolian energy efficiency project

Citi will purchase 1.17 million metric tons of carbon credits over the next seven years from Seattle-based carbon markets intermediary MicroEnergy Credits for reduce household emissions in Mongolia. In Ulaanbaatar, the Mongolian capital, local lender XacBank will finance the locals’ purchase of energy- efficient stoves and insulation fixtures so they increase heat retention and lower the rate of fossil fuel consumption and carbon emissions.

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U.N. providing loans to C.D.M. projects in underdeveloped countries

A new loan scheme to support Clean Development Mechanism projects in underdeveloped countries was launched by three United Nations agencies at the African Carbon Forum last week in Addis Ababa, Ethiopia. The scheme will provide interest-free loans for C.D.M. projects in underdeveloped countries as well as countries that have fewer than 10 registered C.D.M. projects.

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Sustainability-savvy businesses get more profit, competitive edge – M.I.T.

Corporations that are regularly practicing sustainability measures stand to gain more, a recent report from business journal MIT Sloan Management Review and The Boston Consulting Group showed. The study, which involved 2,874 executives in 113 countries, found that two-thirds of global companies see sustainability as a competitive necessity in today’s marketplace, up from 55 percent a year ago.

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Constellation Energy launches third EcoStar Grant program

Constellation Energy, an energy producer based in Maryland, is accepting applications for its yearly EcoStar Grant program. The program awards community-based projects in pollution prevention, education and outreach, energy efficiency, conservation and community activism up to $5,000 to implement their projects. The grant money will be provided by the Constellation Energy Foundation.

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California Air Resources Board adopts final cap-and-trade rules

California regulators have approved the state’s cap-and-trade program, a key element in the state’s climate change plan which represents the world’s biggest carbon trading program after the European Union’s Emissions Trading System. The California Air Resources Board late last week adopted the program which requires the state to reduce greenhouse gas emissions to 1990 levels by 2020.

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