The biggest shocks of the week so far are not only the strange drones over Denmark that give hope for cleaner tech….but President Trump’s praise for how the United Nations might yet save the world.
China accepting an emissions cut of at least 7% by 2035 probably means the second biggest nation by population will cut emissions by more than 20% in that frame ….assuming use of Article 6 of the IN Paris climate deal.
Big-emitting global corporations are hungry for large pools of carbon credits and allowances to buy from …because that cuts the risk of their climate transitions.
They …it’s about 100 companies that really count …will adopt much stricter co2 targets if those targets are protected by cheaper carbon credits …and I mean €200 ones rather than €600.
Of course it’s difficult to be really confident of this… given continued levels of sky high propaganda in the mainstream press ….and the rigged crude oil market.
NOTES
A fixed emissions target is crucial as it allows China to negotiate a (much tighter) EU-like GHG cap in the lead up to and while it’s at the Brazil climate talks in November. (China previously targeted emissions per unit of economic production.)
If China has a cap, the US loses its only remaining excuse not to embrace climate action.
Co2 contracts should move higher ….long-dated crude lower (assuming markets are not rigged) …not investment advice.
[…] China and Trump just increased the chance of better global carbon markets by the end of the year (1) […]