Climate Mundial is proud to announce that it has become a supporter of the Climate Neutral Now initiative.
Climate Mundial is a climate finance and sustainable development firm, whose mission is to assist clients develop and finance renewable energy, carbon mitigation and climate adaptation projects in developing countries.
Climate Neutral Now seeks to inspire individuals and organisations and to recognise them for their contribution to climate change action, becoming part of the momentum created by the global climate agreement achieved in Paris last December.
As a company with profound understanding of the challenge that climate change represents and the opportunities that our society has to respond to that challenge and turn it into an opportunity, Climate Mundial has committed to contribute to global climate neutrality by reducing its own greenhouse gas emissions and compensating the remaining emissions with UN-certified climate credits.
“Climate Neutral Now addresses the core of the Paris Agreement promise: a climate neutral society by mid-century, to ensure that we stay below the 2 degrees Celsius target. The initiative encourages organisations and individuals to do more, now, to voluntarily contribute to reaching that goal. Climate Mundial is honoured to support such action”, said Daniel Rossetto, Managing Director of the company.
Mr. Rossetto also called for organisations of all types and individuals to support the initiative, which is led by the UNFCCC secretariat. “Everyone can contribute through their own action at home, and by supporting credible, valuable emission reduction projects that also promote sustainable development in developing countries”, he said.
For more information on Climate Neutral Now and to join it, please visit www.ClimateNeutralNow.org
As the Board of the Green Climate Fund meets in Bali, Indonesia from 19-21 February, Climate Mundial draws attention to the possible design of the Fund’s Private Sector Facility, which will be of interest to participants in the CDM market.
On the CDM the paper states:
“Regardless of the fate of carbon credits as compliance instruments in a post-2020 world, the Clean Development Mechanism (CDM) has created a credible and transparent framework for results-based (pay-for-performance) financing of low cost mitigation activities, in poor rural and urban communities in developing countries. Using reverse auctions to establish required floor prices, the PSF could provide price guarantees on certified emission reductions (CERs) from CDM projects that supply clean efficient cook stoves, high-efficiency lighting, solar photovoltaic supply and solar energy appliances, small-scale biomethanation projects and the like, driving private capital into marketplaces and countries where the product and services are unaffordable and private capital is rarely deployed at scale. The PSF could retire the CERs to avoid double-counting by re-use of these CERs for compliance purposes.”
This item and others related to climate finance were the subject of an interview today by Climate Mundial managing director Daniel Rossetto with Bloomberg News. Contact us for further details about the interview.
Applying the EU emissions trading system to airlines through to 2020 might not be as controversial as it seems, provided all parties are willing to compromise a little. Climate Mundial managing director Daniel Rossetto spoke today in London with Bloomberg’s Guy Johnson. To see the interview, please click here.
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.
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.
UN emission credits may meet most of any shortfall in the Australian carbon market in the year starting July 2014, according to Climate Mundial managing director Daniel Rossetto, speaking in London today at an interview with Bloomberg News.
For details on the full interview, please contact us.
An unprecedented freeze in United Nations carbon trading is fanning speculation the five-year-old market designed to combat greenhouse-gas emissions in poor countries is in danger of becoming superfluous.
CER demand may recover as countries step up climate-friendly policies, according to Daniel Rossetto, the London-based managing director of Climate Mundial Ltd., an emissions-markets adviser. Prices have already more than doubled since sliding to a record low of 20 cents a ton on April 14. “These offset credits are going to be essential tender for rich nations” as they tighten emission-reduction targets, Rossetto said by e-mail yesterday.
To view the full article, click here.
Climate Mundial and Baker & McKenzie today launched the Australian Carbon Market Survey. The aims of the Survey are:
- To gain a better understanding on the products that would be most helpful to assist Australian companies to maximise benefits under the international linking provisions of the Clean Energy Act 2011 (and amendments) and their potential demand
- To assist market development by fostering a better understanding of needs, requirements and regulatory constraints that apply to international emission unit trading activities between Europe and Australia
The Survey, which closes on 2 August, is being sent to major carbon market participants in Australia to ensure a good cross section of responses is obtained from across the market, including liable entities, intermediaries, trading platforms and banks.
If you are interested in participating in the Survey, please contact us.
Spread between United Nations Certified Emission Reduction credits and Emission Reduction Units will probably narrow as European Union regulators install system to convert offsets into bloc’s carbon permits, according to Climate Mundial managing director Daniel Rossetto in an interview today with Bloomberg news.
For details of the interview, please contact us.
“This is certainly not an apocalypse,” Daniel Rossetto, the managing director of Climate Mundial in London, said in an e-mail. “We are only a few days from the moment from which grey CERs become valueless once the EU ETS ban comes into effect.”
Click here for the full story.