Sergio Abranches
Last week, China’s National Development and Reform Commission reportedly directed seven regions to set overall emissions control targets and submit proposals for how caps should be allocated. The directive, which encompasses the cities of Beijing, Chongqing, Shanghai, Shenzhen and Tianjin and the provinces of Guangdong and Hubei, aims to establish cap-and-trade pilot projects for the country’s carbon market, meant to be in place by 2015. More »
Sergio Abranches
The BASIC countries have adopted a unified position ahead of Durban as their official negotiating stance. It points to the continuation of deadlocks on major issues that frustrated the official preparatory meetings this year. More »
Sergio Abranches
The International Monetary Fund, the World Bank and other international groups are expected to present a paper on climate finance at the G20 meeting this Friday in Washington. It recommends a sharp reduction of subsidies for fossil fuels, putting a price tag of $25 per ton on carbon emissions, and collecting a surcharge on bunker fuels to raise money for climate finance. More »
Brazil has suddenly realized the attractiveness of its immense wind power potential. Once deemed too expensive and small-scale, unable to meet the country’s power needs, it is now braced to grow sevenfold to 2014. More »
Sérgio Abranches
Economic damage costs related to extreme climate events to date in the US exceed $35 Billion, says the National Oceanographic and Atmospheric Administration – NOAA. These costs are likely to affect both the domestic and the global economies already facing a serious crisis. More »
Sergio Abranches
For the third consecutive year Brazilian sugarcane harvests will be affected by adverse climatic factors. The latest estimates from the producers’ association, UNICA, is that it will be 8.4% smaller for the season 2011-2012. Over the last three years demand for sugar has been very strong and prices even higher than ethanol’s. As a result, producers have been calibrating their production mix to yield more sugar than alcohol. More »
