Jump to Navigation
Jump to Content

International Update Volume 42, Issue 23

GERMAN ECONOMY MINISTER SAYS EU SHOULD NOT ALTER CARBON PRICES

EU, Germany

Germany's economy minister called on the European Union to avoid intervening in carbon prices, highlighting controversy over EU regulators' plans to strengthen the market. The minister's comments follow a proposal last month to clarify the right of the bloc’s regulator to delay some auctions of carbon permits as of 2013 to curb oversupply. In addition, earlier this year EU politicians supported a proposal to withhold permits from the market after an overestimation of need led to a price-depressing surplus of 500 million to 1.4 billion permits.

CHINA'S COAL PLANS MAY TRIGGER WATER CRISIS

China

China's plans to expand its coal production may trigger a severe water crisis, according to a report by Greenpeace. China plans to boost coal mining and plants in Inner Mongolia, Shanxi, Shaanxi, and Ningxia, with output in those areas expected to reach 56 percent of the nation's 3.9 billion tons by 2015. The country will also build 16 coal-fired plants in those provinces for a total capacity over 600 gigawatts. However, the plants will consume almost ten billion cubic meters of water, almost one sixth the annual total volume of China's largest river, according to the report.

FEDERAL APPEALS COURT HALTS BELO MONTE DAM

Brazil

A Brazilian federal appeals court ordered a halt to the construction of the controversial Belo Monte dam last week until indigenous groups can be properly consulted. Up to 12,000 construction workers were due to work on the project this year, and the dam, which is expected to power 23 million homes, is a key part of Brazil's plan to rely on renewable energy rather than fossil fuels.