This round-up is a experiment we're trying and comes courtesy of Pete Roche also an expert on the Nuclear power sector.
On Energydesk
Policy Exchange's Guy Newey argues the EU carbon market can be saved with a new target for decarbonisation - but not a renewables target
In the news this morning
Carbon bubble
The world could be heading for a major economic crisis as stock markets inflate an investment bubble in fossil fuels to the tune of trillions of dollars, according to leading economists. "The financial crisis has shown what happens when risks accumulate unnoticed," said Lord (Nicholas) Stern, a professor at the London School of Economics. He said the risk was "very big indeed" and that almost all investors and regulators were failing to address it. The so-called "carbon bubble" is the result of an over-valuation of oil, coal and gas reserves held by fossil fuel companies. According to a report published on Friday, at least two-thirds of these reserves will have to remain underground if the world is to meet exis ting internationally agreed targets to avoid the threshold for "dangerous" climate change. If the agreements hold, these reserves will be in effect unburnable and so worthless - leading to massive market losses. But the stock markets are betting on countries' inaction on climate change. The stark report is by Stern and Carbon Tracker, a thinktank supported by organisations including HSBC, Citi, Standard and Poor's and the International Energy Agency. The Bank of England has also recognised that a collapse in the value of oil, gas and coal assets as nations tackle global warming is a potential systemic risk to the economy, with London being particularly at risk owing to its huge listings of coal.
Guardian 19th April 2013
FT 19th April 2013
BBC 19th April 2013
Telegraph 18th April 2013
Europe's climate chief vowed on Wednesday to fight on to save the EU's flagship environmental policy, the emissions trading system (ETS), after a serious blow on Tuesday when MEPs rejected reforms aimed at repairing the ailing system. MEPs voted 334 against to 315 in favour of "backloading" the market – a proposal aimed to reverse the plummeting price of carbon that has resulted from a surplus of permits in the ETS market – leading the price of carbon to fall by almost half to under €3 on Tuesday. Connie Hedegaard, EU commissioner for climate action, said: "We are preparing structural [longer-term reforms]. We will have new meetings for stakeholders, in parallel with an impact assessment. We are preparing an initiative." The proposals include measures to restrict rights to carbon permits under the system, and to allow for reviews of the number of permits companies receive for free.
Guardian 17th April 2013
