2015 was a landmark year for climate action. Its many highlights were topped by a Paris agreement where 195 countries set themselves on a low-carbon path via economy-wide plans sure to be developed and strengthened every year.
As the media spotlight focuses on the world climate change summit (COP21) in Paris over the next two weeks (30 Nov - 11 Dec), are you wondering what the outcome will be? Can the fallout of dangerous climate change be averted at this late stage? Will the resulting actions be enough?
It's been a rough summer for energy markets: Oil prices crashed, China stuttered, the Federal Reserve dithered and emerging market currencies threatened to fall off a cliff. Energy stocks have tumbled down, reaching a crescendo in late August with an 11% decline in the S&P500 stock index.
The United States took a further step forward yesterday in its action against climate change as another state outlined plans to use carbon pricing to reduce its greenhouse gas emissions.
With the USA (at a Federal level) going down the regulatory route instead, the Australian Prime Minister touring the world
The ETS was designed and implemented as the principal pricing mechanism to guide investment in power generation and industrial facilities across the EU such that long term CO2 reduction goals could be met at the lowest cost to society. Quite simply, it isn't performing that role today.
Over the weekend the UK Secretary for Energy and Climate Change, Ed Davey, announced plans to secure a continuing role for natural gas in the UK power generation sector.