Tuesday, 18 November 2014

Upcoming Events

Is Keeping Coal a Policy Own Goal?
An APPCCG, WWF-UK & Imperial College’s Centre for Energy Policy and Technology Report Launch

Tuesday, 25th November 2014; *time changed to* 4:30 – 6:00 pm; 
*Venue changed to* Boothroyd Room, Portcullis House, London, SW1A 2LW

Report Launch: What does the future hold for coal, implications for UK energy and climate policy objectives.

Chair: Lord Oxburgh
Speakers:
·         Dr Rob Gross – Director, Imperial College Centre for Energy Policy and Technology
·         Tim Yeo MP – Chair, Energy and Climate Change Committee
·         Baroness Bryony Worthington, Shadow Spokesperson, Energy and Climate Change
·         Jessica Lennard, Head of Corporate Affairs, Ovo Energy

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Locking up carbon - an alternative look at Carbon Capture and Storage (CCS)
Wednesday, 19th November 2014; 11:00 am – 12:30 pm
Committee Room 11, House of Commons, London SW1A 0AA

CO2 in flue gases can be locked away permanently in different forms, including mineralised materials, pure graphite and plastics. This event will explore options, including what scale they can operate at and the current business case, as well as the factors necessary for making this alternative approach work.

Chair: Baroness Bryony Worthington
Speakers:

·         Prof. Peter Styring, Director of External Relations - Chemical and Biological Engineering, University of Sheffield

·         Dr. Michael Priestnall, Founder and CTO, Cambridge Carbon Capture
·         Prof. Colin Hills, Professor of Environment and Materials Engineering Director, University of Greenwich; Founder, Carbon8 Systems Ltd & Carbon8 Aggregates Ltd
·         Dr. Paula Carey, Founding director, Carbon8 Systems Ltd and Carbon8 Aggregates Ltd

·         Prof. George Chen, Electrochemical Technologies, Faculty of Engineering, University of Nottingham

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Friday, 7 November 2014

Press Release: Carbon Tracker Initiative, UKSIF and APPCCG call on UK financial policymakers to act on the carbon bubble and ensure future economic stability

The financial think-tank Carbon Tracker Initiative (CTI) and the UK Sustainable Investment and Finance Association (UKSIF) have called on the Government and regulatory authorities to consider actions which align capital markets and investment more effectively with the realities of climate change. This call is supported by the All Party Parliamentary Climate Change Group (APPCCG).

At an APPCCG meeting on 5 November on the carbon bubble and stranded assets, Mr. Tim Yeo MP, who was chairing the meeting said: “Particularly in light of the IPCC’s recent calculation of a global carbon budget – the amount of carbon that can be emitted and it still remain likely that we will limit warming to two degrees – greater disclosure by companies about their carbon risks is very desirable.”

Ms. Joan Walley MP added: “As demonstrated by the recent IPCC report, there are rapidly increasing risks from climate change.  Both policymakers and businesses must take action to ensure that there is full transparency about exposure to carbon risks so that investors can take account of this when making investment decisions.”
Following a recent intervention from Bank of England Governor, Mark Carney, and the IPCC synthesis report on climate change, CTI said at the meeting that there was an urgent need for regulators to mandate companies to disclose future CO2 emissions embedded in their fossil fuels.
This could be done through:
  •  a revision to the mandatory UK GHG Emissions Reporting Requirement
  • the Bank of England Prudential Regulatory Authority and the UK Listing Authority ensuring that companies whose primary activity is the development of fossil fuels provide clear, transparent descriptions of their assessment of climate-related risks
  • the EU Directive on Non-Financial Reporting, which offers an opportunity for regulators to give clear interpretative guidance on climate risk
  • an independent commission, including regulators from other countries, examining the scope for what can be done on financial regulation and guidance.
Carbon Tracker’s Founding Director, Mark Campanale said; “It’s time regulators provided clear guidance to fossil fuel companies on public disclosure of how they factor in climate-related risks. A business as usual approach is no longer tenable.”

“Some fossil fuel future production projects will not be able to break even unless there is a very high oil price. Such high oil price would mean a double whammy of high energy prices and high costs of climate. That is a pure financial risk for investors and a major political risk for politicians. Policymakers have the responsibility to create the conditions for financial and climate risk disclosure to create transparency allowing investors to correctly price the fossil fuel risk premium” says Anthony Hobley, Carbon Tracker’s  CEO.
“UKSIF was delighted to work with the APPCCG to deliver this meeting and were pleased that the MPs and their staff who attended are engaging with these fundamental issues. We now hope to see policymakers take the appropriate action to mitigate very real climate-related risks to our economy.”says Simon Howard, Chief Executive, UKSIF.
Media Contacts:
Margherita Gagliardi
Communications Officer
Carbon Tracker Initiative
Tel: +447771577310
mgagliardi@carbontracker.org
Charlene Cranny
Programme Manager, UKSIF
Tel: +44 (0) 20 7749 9953


About Carbon Tracker Initiative
The Carbon Tracker Initiative is a team of financial specialists making climate risk real in today’s financial markets. CTI worked with Mark Fulton of Energy Transition Advisors to produce the underlying analysis. The underlying analysis in this report, prepared by CTI-ETA, is based on supply cost data licensed from the Rystad Energy, an energy research company specialising in the oil and gas industry, whoc supply the industry and organisations such as the IEA and national governments with data and analysis.
Our research to date on unburnable carbon and stranded assets has started a new debate on how to alight the financial system with the energy transition to a low carbon future. This latest research series aims to explore in more detail the capital expenditure plans of the coal, oil and gas sectors.
www.carbontracker.org
@carbonbubble
UK Sustainable Investment and Finance Association (UKSIF)
The UK Sustainable Investment and Finance Association (UKSIF) supports the UK finance sector as a global leader in advancing sustainable development through financial services. We promote and support responsible investment and other forms of finance that advance sustainable economic development, enhance quality of life and safeguard the environment. Founded in 1991, UKSIF has approximately 250 members including pension funds, asset managers, research providers, financial advisers, banks and non-governmental organisations.
All Party Parliamentary Climate Change Group (APPCCG)
The All Party Parliamentary Climate Change Group (APPCCG) is a coalition of 150 parliamentarians from all parties, along with about 170 businesses, NGOs, academic institutions, and embassies. The APPCCG exists to raise awareness about climate change and to promote effective action. It brings together business leaders, politicians and other stakeholders to discuss and develop a meaningful and effective approach to delivering a low or no-carbon society. Our chair is Joan Walley MP, and our Secretariat is based at The CarbonNeutral Company.
The APPCCG hosts regular discussions and seminars in the Houses of Parliament covering all aspects of climate change and climate policy: from climate science to sustainable development to carbon accounting and green investment for businesses. Membership is open to all businesses, NGOs, MPs and Government departments with an interest in tackling climate change and promoting a low carbon future.
Find main quotes from the live event microblogging, back tracking the hashtag #strandedassets
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Monday, 27 October 2014


APPCCG UPCOMING MEETINGS
Confirmed
5th Nov 2014
Stranded Assets (in Partnership with UKSIF)
10th Nov 2014
IPCC Fifth Assessment Report (AR5)
19th Nov 2014
Locking up carbon - an alternative look at CCS
CCS linked with utilisation - technologies that can convert carbon rich flue gases into usable commodities or into mineralised rocks for permanent storage.
25th Nov 2014
Report Launch: Coal in UK (WWF – Imperial College report)
Provisional
End Nov 2014
Pre-COP meeting
Nov ’14 – Jan ’15
Launch of Infrastructure Series – Concentrated & Distributed models
Nov ’14 – Jan ’15
Resilience and Adaptation (with CIWEM)
Jan 2015
UK Political Parties - Green Strategies 2015 and beyond
Jan – Mar 2015
Meetings: Infrastructure theme - HS2, Electric Cars, Cities, Airports etc.
Jan – Mar 2015
Shale Gas Series – Environmental impacts (Meeting 1)
Jan – Mar 2015
Shale Gas Series – Role in promoting economic and secure energy (Meeting 2)

If members would like to attend any of these meeting, please contact Neha Nijhon at the APPCCG Secretariat on climatechangegroup@carbonneutral.com  or tel: +44 (0) 20 7833 6035.

Tuesday, 5 August 2014

Announcing APPCCG's new theme for meetings in 2014-15

Since 2012, the APPCCG has structured its work and meetings under three themes: 
  • International and National Legislation on Climate Change
  • Public-Private Partnership 
  • Innovation and Technology

We are happy to announce a new overarching theme to be added to this list: 
  • Infrastructure
This theme will cover a set of sub themes including: 
  • transport/mobility
  • cities
  • energy infrastructure and 
  • food /climate smart agriculture
We are currently working on the details of the meetings that will be held from October 2014 onwards. In the meantime, we welcome any suggestions from our members on meeting topics of interest to them under the new theme and sub-themes. 

To submit ideas/suggestions, contact: neha.nijhon@carbonneutral.com.


Wednesday, 9 July 2014

Event: Tradable Energy Quotas (TEQs)

 An APPCCG and PRASEG Event
Tuesday, 15th July 2014; 2:00 – 3:30 pm; 
Room changed to: Committee Room 7 Committee Room 17, House of Commons

The TEQs (Tradable Energy Quotas) system was first published in 1996 by the late Dr. David Fleming, and has since been the subject of extensive study, including a government feasibility study in 2008.  This concluded that TEQs was then "ahead of its time" due to public reluctance to accept climate policy and perceived greater costs than international abatement via the EU Emissions Trading Scheme. 

TEQs (pronounced "tex") is a concept similar to a national electronic system for rationing energy use, covering the whole economy, with individuals given a free weekly entitlement of units.  However, individuals who use less than their entitlement would be able to legally sell their surplus units at the prevailing national price, thus profiting from their energy-thrift and providing a means for above-average users to exceed their entitlement.  In the system price would be determined by national demand, and all fuels and electricity would carry a 'carbon rating', determining the number of units needed to make a purchase. 

This joint meeting by PRASEG and the APPCCG aims to explain the system and how it would work, making the case for why the UK should adopt this approach, and laying out the next steps towards implementation in the current political climate.

Chair: Dr Alan Whitehead MP

Speakers:
  • Shaun Chamberlin, Managing Director, Fleming Policy Centre
  • Dr Tina Fawcett, Senior Researcher, Environmental Change Institute, Oxford University
  • Professor Michael Grubb, Senior Advisor, Sustainable Energy Policy, Ofgem & Professor of International and Climate Change Policy, UCL
RSVP: If you would like to attend this meeting, please contact Neha Nijhon at the APPCCG Secretariat on climatechangegroup@carbonneutral.com or tel: +44 (0) 20 7833 6035.  Please enter by Cromwell Green (visitors) entrance and allow about 15 minutes to pass through security.


Tuesday, 8 July 2014

UPDATE: With the very welcome announcement by the government on 22 July 2014 that the Fourth Carbon Budget will be maintained, this letter did not need to be published. A huge thank you to all our signatories for participating.

(Post originally published on: 11 June 2014)
Call for Support: Letter to the Government to Maintain the Fourth Carbon Budget
The APPCCG is co-ordinating signatories to a letter calling on the Government to follow the advice of the Committee on Climate Change and confirm or strengthen the Fourth Carbon Budget.

There is a strong case for the government to take a decision on the budget as soon as possible so as to provide the stable policy environment critical to attracting investment in the low-carbon sector, and creating significant growth opportunities for the UK economy.

A range of cross-party MPs and Peers, including Lord Stern have already indicated their support for this letter
and we are keen to gather as many signatories as possible. We are looking to publish the letter early in the week commencing 16 June.

If you/your organisation support the view that the Government must uphold or strengthen the ambition of the Fourth Carbon Budget, then please indicate your support by emailing the APPCCG co-ordinator, Neha Nijhon (neha.nijhon@carbonneutral.com ) and your name will be added to the list of signatories.

The letter and a short background note on this issue is given below. 
Kind Regards,

Joan Walley MP
Chair, APPCCG

***

Brief background:
The fourth carbon budget, covering 2023-2027, was set in June 2011 following advice from the Committee in December 2010. It was designed to reflect the cost-effective path to the 2050 target in the Climate Change Act (i.e. to reduce emissions by at least 80% relative to 1990), taking into account the range of criteria in the Act including affordability, competitiveness and security of supply.

As part of the agreement to set the budget, the Government announced that it would be reviewed in 2014 and this review was carried out by the Committee on Climate Change the statutory body set up to advise the government on meeting long-term carbon goals. The Committee found that the UK’s 2050 target of an 80% emissions reduction remains the most appropriate and cost-effective path for emissions reduction through the 2020s, offering significant long-term savings.

With the evidence of the CCC review report, and a large section of business calling upon government to accept the Committee’s advice, there is a strong case for the government to take a decision on the budget as soon as possible, especially, as an early decision by the Government would considerably improve the conditions for investment.

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Tuesday, 13 May 2014

Climate Solutions Series – Event Summaries

(Post originally published on: 13 March 2014)

The APPCCG and Carbon Connect partnered for an event series in 2013-14 called Climate Solutions, which explores the landscape of national and international climate change policy and its impact on economic competitiveness.

The first meeting in the series was held on 27 Nov 2013 – ‘Climate policies: global trends and challenges’ –  with Lord Deben as the keynote speaker and a high level supporting panel. The meeting summary can be accessed here.

The second meeting was held on 28 Jan 2014, titled ‘Tools for decarbonisation: taxes, markets and regulation’ and the summary can be accessed here.

The third and final event of the series focused on the impact of climate policy on business competitiveness. The summary for this meeting –  ‘Competitiveness and climate policy: friends or foes?’ –  can be downloaded here.