Category Archives: News

6 November 2013 – Global Climate Deal Should Include Emissions Budget, CMIA Says (Bloomberg)

There is scant evidence nations are drawing up more ambitious national budgets to include in the 2015 deal, said Daniel Rossetto, managing director of Climate Mundial Ltd in an interview with Bloomberg News. “The absence of prior national approval of carbon budgets and the failure of developed nations to come good on their Copenhagen climate finance pledges are the most important barriers to getting carbon budgets in the deal,” he said today.

To read the full article, please click here.

8 October 2013 – EU Can Keep Airline Carbon Plan Using UN Credits, IETA Says (Bloomberg)

“If the EU can correct some of the shortcomings in its emissions trading system design, there is scope to find agreement” with its trading partners on keeping some international flights, Daniel Rossetto, the managing director of Climate Mundial Ltd. in London, said in an Oct. 4 phone interview with Bloomberg’s Mathew Carr. There’s a “better-than-even” chance the bloc is willing to forgo charging for emissions outside its airspace, he said.

To read the full article, click here.

20 September 2013 – France Revives Push for Carbon Tax on Energy-Intensive Imports (Bloomberg)

Bloomberg News reported today:

French President Francois Hollande said Europe should consider introducing a carbon tax on imported goods from regions without climate protection policies, reviving an idea mooted more than three years ago.

Hollande’s move to protect industry may be sound, Daniel Rossetto, managing director of Climate Mundial Ltd. in London, said today by telephone. “But as we’ve seen with aviation, it can get hostile and lead to threats to export markets,” he said.

To read the full article, click here.

18 September 2013 – Repeat Regulatory Delays Hamper EU Carbon Trade, Steelmakers Say (Bloomberg)

Bloomberg News reports today on the impact of recent regulatory decisions in the EU carbon market on steelmakers:

A series of delays in the European Union carbon market, the world’s largest by traded volume, is hampering business planning, according to a lobby group in Brussels representing steelmakers. EU factories and power stations will be able to exchange United Nations carbon offsets for EU permits from February next year, about 13 months later than indicated by the European Commission last year. The regulator is seeking information allowing it to determine the eligibility of some credits, it said in a Sept. 16 statement. “We are not happy with this delay,” Axel Eggert, a spokesman for Eurofer, the steel industry group representing companies from ArcelorMittal (MT) SA to Tata Steel Ltd. (TATA), said yesterday by phone. “The commission is poorly implementing the directive,” he said, citing a six-month delay in a decision made Sept. 5 on the volume of free permits handed out.

“These unforeseeable and unpredictable regulatory processes are in fact further eroding the level of confidence that investors have in the market,” Daniel Rossetto, managing director of Climate Mundial Ltd. in London, said today by phone. “This is a shame because these markets really do work.”

To read the full article, click here.

11 September – Abbott May Keep Rebadged Australian Carbon Plan (Bloomberg)

Australian Prime Minister-Elect Tony Abbott is likely to keep market-based carbon program after scrapping the current fixed-price system, similar to a plan by outgoing Prime Minister Kevin Rudd, according to Daniel Rossetto, managing director of Climate Mundial in an interview in London today with Bloomberg News.

People forecasting repeal of Clean Energy Act 2011 overlook the difficulty of Abbott’s coalition government getting Senate support to introduce its Direct Action policy. If the coalition repeals the Clean Energy Act 2011, Australia may end up in the highly spurious position of having a climate target of a 5% cut by 2020 but no policy to achieve that goal for several years if at all, said Rossetto, a member of Australian National Emissions Trading Taskforce from 2004-06.

Rudd pledged to remove nation’s fixed carbon price a year ahead of schedule as part of move to market system. According to Rossetto: “Coalition repeal of existing law before introducing new program will fuel speculation that Abbott doubts need for climate-protection policy. This fact alone will be enough to dissuade the public from supporting repeal. I see repeal as becoming quite improbable”.

29 August 2013 – Shifting Carbon Market Focus Shows Target Success (“The Pulse”, Bloomberg TV)

The European carbon market shows us that emissions trading can deliver greenhouse gas pollution cuts much more cheaply than forecast. The next challenge, which is for all nations of the world to consider, is how to reform carbon markets to realise their full potential to drive investment in cleaner technology. Click here to see Daniel Rossetto, Managing Director of Climate Mundial and global carbon markets expert, speaking yesterday in London with Bloomberg’s Guy Johnson on this critical topic.

28 August 2013 – Australian Carbon Market Survey published

Climate Mundial and Baker & McKenzie, working in association, today published the Final Report on the Australian Carbon Market Survey. In the first study of its kind, the Report presents the results of a Survey undertaken with approximately 30% of the market (within a total of just over 300 million tonnes of carbon emissions per year). The Final Report focuses on issues related to linking the Australian Carbon Pricing Mechanism (CPM) to international carbon markets and in particular:

  • possible demand for international emissions units and products ex Australia;
  • how regulations might affect trading behaviour and activity of Australian entities; and
  • what trading operations are being contemplated and infrastructure requirements this gives rise to.

The Final Report is available for limited commercial distribution. For further details, please contact us.