Archive for 2015
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The COP21 UN Climate Change Conference, which took place in Paris, reached a global agreement to tackle climate change, an outcome which represents a major landmark in addressing this global challenge.
In the Paris Agreement, adopted under the United Nations Framework Convention on Climate Change (UNFCCC), world leaders agreed to limit the rise in global temperature to well below 2°C, in order to avoid dangerous climate change.
“The Paris Agreement confirms the irreversible transition to a low carbon, safer and healthier world”, declared UNFCCC Executive Secretary, Christiana Figueres, following the adoption of the agreement.
Among the key measures in the Paris Agreement, global leaders have agreed:
Source: UNFCCC COP21, Paris
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The UNFCCC COP21 in Paris is currently on the second week of climate negotiations (30 November – 11 December 2015).
The EU today retained its formal position that any global climate deal to be reached in Paris next week should be legally binding, while acknowledging that it was “looking for solutions” with negotiating partners.
One of the central obstacles to a deal is that the US delegation will not accept legally binding greenhouse gas (GHG) mitigation targets as it knows congress would not ratify any agreement that imposes such a requirement. Despite this the EU has not yet formally changed its position to compromise on the issue, although representatives of the EU delegation today acknowledged that a strong deal could still be achieved without legally binding targets.
Source: Argus Media, London
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Nine businesses, including Aviva, Sky, Fuji Xerox and DPD, have joined the UN’s Christiana Figueres to speak out about the benefits of offsetting carbon emissions, at this week’s climate negotiations in Paris at the UNFCCC.
In a video released today, the companies explain why offset strategies are good business sense, the challenges and opportunities their approach has created, and why they believe it has made a difference. Companies throughout the world, including Microsoft, Jaguar Land Rover and Marks and Spencer have adopted carbon-offset approaches to enable them to go beyond the reduction targets they could achieve through internal change.
Recent research from Carbon Disclosure Project Data shows that business who offset also take the lead in reducing their carbon emissions with the typical offset buyer cutting almost 17% of their scope 1 direct emissions compared to non offset buyers who reduced emissions by less than 5% in the same year.
By supporting carbon-offset projects, businesses are investing in the local environment and communities, delivering positive impacts beyond the carbon reduction. While these ‘co-benefits’ vary by project, a market representative average was recently calculated by Imperial College London University at $664 for every tonne of carbon offset.
Source: IETA, Paris
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On 10 November 2015, the Council adopted a new directive to limit the emissions from combustion plants of medium size. These new rules are part of the clean air legislative package, which aims at improving air quality in the EU.
The new directive sets emission limit values for certain pollutants. These limits will be applied for new and existing combustion plants of medium size (between 1 and 50 MW).
Main elements of the new directive include:
There are different deadlines to apply the emission limits:
Source: The European Council, Brussels
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A newly released report has found the waste sector has a key role to play in the development of a low carbon economy and the reduction of greenhouse gases (GHGs). This report comes in advance of the UN Climate Conference in Paris, which will take place in December.
The report was commissioned by Zero Waste Europe, in partnership with Zero Waste France and ACR+. The report finds that the role of waste prevention and improved waste management can play in reducing GHG emissions and the development of a low carbon economy has previously been significantly understated, partly due to the structure of the national inventories of the UNFCCC.
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Carbon market throughout the past month of October proved to be very bullish. The price of European allowances increased week after week, reaching thereby a few times new three-year highs. With a peak of 8.71 euros for the December contract this was also the case in the past week, but overall the uptrend slowed somewhat.
If we will see in the coming days a correction at the market, it could push the price back to a level above 8.50 euros. However, according to recent experience, the correction could well turn out even more moderate. If on the other hand the bullish trend continues, the line of 8.80 euros could be overcome in the foreseeable future.
The rise in prices logically had a positive effect on the auction proceeds. Thus, for example, Germany made with their auction last Friday (with an unchanged sales volume) an increase of more than two million euros revenue than a month ago. Romania will auction in 2015 25,395,500 EUAs in weekly installments of approximately 560,000 EUAs.
Source: Advantag Brokerage Gmbh. and EEX., Leipzig
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If all countries meet the goals outlined in their pledges in the run up to the Paris Climate Summit, growth in energy-related emissions– which account for two-thirds of total greenhouse gas emissions –will slow to a relative crawl by 2030.
A Special Briefing was released this week by the International Energy Agency (IEA) on the energy sector implications of national climate pledges (known as Intended Nationally Determined Contributions or INDC’s) submitted for the upcoming climate summit in Paris (COP21).
“The fact that over 150 countries – representing 90% of global economic activity and nearly 90% of global energy-related greenhouse gas (GHG) emissions – have submitted pledges to reduce emissions is, in itself, remarkable,” said IEA Executive Director Fatih Birol.
“These pledges, together with the increasing engagement of the energy industry, are helping to build the necessary political momentum around the globe to seal a successful climate agreement in Paris”
Source: Globe Net, October 2015
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At the end of a very calm and balanced week the price of carbon allowances on Friday, 09.10.2015, increased significantly by more than 20 cents on Monday. At the close of trading the December futures recorded a level of 8.35 euros, only two cents below the session high. The same settlement price posted the market last seven weeks before.
The market situation, however, in the coming months will not be dominated by the expected upsurge of political and editorial statements in the context of the World Climate Summit in Paris. Although the expected decisions might proof extremely important, they hardly will have any effect on the ETS. Only an absolutely disappointing outcome of the summit might also impact negatively on the price for the European allowances. Rather, it is assumed that with rising demand and lower willingness to sell current surplus of certificates, the price will continue to rise calmly.
In the wake of prices for EUAs also reduction certificates have risen considerably in the past few weeks. CER costs now almost 20 percent more than at the end of last month.
Source: Advantag Brokerage Gmbh., Germany
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Orhideea Residence & Spa, the largest aparthotel and spa in Bucharest has signed a two year agreement with ALLCOT to measure and offset its annual carbon emissions.
In 2014, it was responsible for generating 418 tCO2e (metric tonnes of carbon dioxide equivalent), mainly from heating and electricity consumption. Measuring its footprint and offsetting its unavoidable greenhouse gas (GHG) emissions is a part of its wider sustainability strategy, which has already involved the replacement of incandescent lightbulbs with low-energy LED units; improved waste sorting and reduced paper usage. Together, these actions make it one of Romania’s leading sustainable hotel and spa complexes, with 15kg tCO2e per night, which is less than half the Romanian national average of CO2 emissions for hotels.
“This CO2 emissions reduction target is a part of our policy to increase our guests’ comfort. Orhideea Residence & Spa is the largest aparthotel and spa in Bucharest. The smallest apartment is around 100 sqm and the largest more than 300 sqm. For responsible guests, the sheer size of these rooms can be intellectually uncomfortable. However, when you know that your business or holiday-related carbon footprint was offset by the hotel in collaboration with ALLCOT, then your stay at our hotel becomes more attractive. Therefore, I choose to invest in sustainability through ALLCOT and offset carbon emissions from Orhideea Residence & Spa to help guests think deeply about preserving our planet, but also from an “avant-garde” spirit. The ALLCOT sustainability program inspired me to follow their lead and make our hotel sustainable,” says Dragos Penca, Executive Director at Orhideea Residence & Spa.
The project chosen by Orhideea Residence & Spa to offset its unavoidable GHG emissions is a UN forestry project that protects standing forest and the indigenous flora and fauna.
The carbon neutral strategy of Orhideea Residence & Spa has been implemented in Romania with the help of Carbon Expert, which is the official ALLCOT partner for Eastern Europe. The projects promoted by Allcot and Carbon Expert are recognised by the United Nations and verified by third independent parties, such as Tuv or Lloyd Register. Allcot sustainability program promoted in Eastern Europe by Carbon Expert provides management solutions to increase energy efficiency and reduce CO2 emissions.
“Our projects for economic operators in Eastern Europe to voluntarily reduce the pollution are the precursor of the UN international politics of compulsory reduction of CO2. What today is voluntarily achieved at minimum costs, tomorrow will be mandatory at much higher costs. The most convincing example is given by big Romanian polluters: power plants, cement factories, etc., which have voluntarly implemented various technologies against pollution at lower costs before entering into the manadatory EU ETS, compared to operators, which have made this transition under the pressure of governmental penalties at the last moment. One thing is clear: the polluter pays. We come up with solutions to reduce these costs”, says Casiana Fometescu, Carbon Expert.
“ALLCOT is delighted to be partnering with Orhideea Residence and Spa on their sustainability journey that is targeting zero emissions with reduced operational costs. Entering the Romanian market is a clear strategic objective of ours, so this collaboration is very exciting for us to be involved with.’’ Alexis Leroy, CEO, ALLCOT
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