|
|
 |
|
Viewing report
|
|
|
|
Carbon Market Analysis - November 2010
GlobalData, Nov 2010, Pages: 23
Carbon Market Analysis - November 2010
Summary
This report includes carbon market developments globally. There are 34 news stories covered in the report. In addition to it, following three articles are covered in detail:
1. Failure of California Proposition 23 – Keynote for the Success of Renewable Energy
The financial crisis and job recession means the governments has been taking austerity measures to spur funds and set binding targets for emissions control measures. In 2010, the US, Japan and Australia were meant to pass their respective climate bills but this has been delayed. For instance in the US the climate bill, known as the American Power Act, was again presented on May 12, 2010 and is still facing a delay from the Republicans due to the bill’s approach towards carbon tax. Against this backdrop, it is unlikely that the US climate bill will be passed this year. The American Clean Energy and Security Act, popularly known as the Waxman-Markey act is another example. Though the bill was passed by the House of Representatives on June 26, 2009, it has been reported that the Senate would not consider climate change legislation before the end of the legislative term. On the other hand in California Proposition 23 was introduced. Proposition 23 is a citizen initiated state statute to reduce current statewide unemployment (12%) below 5.5% for four consecutive quarters. The initiation demands suspension of the implementation and operation of California’s Global Warming Solutions Act. The supporters of the proposition refer to their measure as the California Jobs Initiative while opponents refer to it as the Dirty Energy Prop. The state statute appeared before a general election ballot on November 2, 2010 and failed to pass. As per the voting results 61% opposed whereas 39% supported Proposition 23. In this light the failure of Proposition 23 is considered as a keynote for the success of renewable energy. Because the Global Warming Solutions Act contains renewable energy expansion programs such as cap and trade and 33% Renewable Portfolio Standard (RPS) legislation.
2. Analysis of 9th RGGI CO2 Allowance Auction
The 10 states of the US participated in Auction 9 of the Regional Greenhouse Gas Initiative (RGGI) on September 8, 2010. Since September 2008, the cumulative RGGI auction proceeds are $729.28m, of which 80% is being invested in state-based energy programs, 60% in energy efficiency programs, 10% for encouraging renewable energy technologies deployment and the remaining 10% for direct consumer benefit programs, such as providing assistance to low-income ratepayers. The offering of 2009 vintage and 2010 vintage allowances resulted in $63.99m by selling 34.41 million allowances. Around 75% of the allowances offered were sold at a clearing price of $1.86 per allowance. Similarly, the offering of 2013 vintage allowances resulted in $2.44m by selling 1.31 million allowances. Around 61% of the allowances offered were sold at a clearing price of $1.86 per allowance. The RGGI auctions have successfully delivered allowances to the power plants to meet their compliance obligations as well as providing funds to states to encourage investments in their energy efficiency and renewable energy sectors.
Scope
Its scope includes -
- Featured Articles: Analytical articles related to the recent developments in the carbon and emissions market.
- Failure of California Proposition 23 – Keynote for the Success of Renewable Energy
- Introduction: California’s Global Warming Solutions Act, 2006 (AB 32)
- Proposition 23
- The Failure of Proposition 23 - Crucial for California Renewable Energy Sustainablility
- Analysis of 9th RGGI CO2 Allowance Auction
- RGGI Auction 9 Results
- Dispersion of Bids in Auction 9
- Summary of Purchases of Allowances in Auction 9
- Summary of Bid Prices in Auction 9
- Key Bidders in Auction 9
- Major Carbon Updates: Region-wise carbon market news for the month
Reasons to buy
The “Carbon Market Analysis” provides in depth study of the major emissions reduction market developments across the globe. It gives market updates for the global carbon market which can help the individual/company frame their business strategies while developing sustainability initiatives.
- Analyze the impact of changing carbon market on the company business
Failure of California Proposition 23 – Keynote for the Success of Renewable Energy – Provides insightful data on the developments of the regional initiatives taken by the US states.
Analysis of 9th RGGI CO2 Allowance Auction – To identify the recent trends in the RGGI market
- Develop strategy based on the upcoming trends in the global carbon market
- Identify target markets by looking at the trend of emissions trading across the globe
- Understand the impact of regional emissions trading trends on the future carbon market
|
|
|
|
