Climate & Energy

EUphonious

EU-27 emissions down 8 percent since 1990

The European Environment Agency (EEA) reports: Total greenhouse gas emissions in the EU-27, excluding emission and removals from land-use, land use change and forestry (LULUCF), decreased by 0.7% between 2004 and 2005 and by 7.9% between 1990 and 2005. Over the same period, 1990 to 2005, U.S. greenhouse-gas emissions are up an alarming 17 percent (PDF). The EEA report underscores a point I have made repeatedly -- the transportation sector remains the toughest nut to crack:

Notable quotable

“Anybody can talk and beat up coal: They don’t like it; it’s dirty; it does this and this. But I can assure you, they’re not going to turn their lights or their demand for energy off.” – Gov. Joe Manchin of West Virginia

A new marketplace for trading GHG permits

A chat with Philip V. Adams of the World Green Exchange auction system

Last week, World Energy Exchange, an online energy trading platform, officially launched a new marketplace for renewable-energy certificates and greenhouse-gas permits. The World Green Exchange employs an auction system -- think eBay -- to bring buyers and sellers together. In theory, auctions create a more transparent marketplace and drive out cost inefficiencies by directly connecting the buyer and seller and removing the middleman. Philip V. Adams. We caught up with World Energy President and COO Philip V. Adams last week to find out how the launch went and why he thinks WGE will stand out in an increasingly crowded field dominated by the Chicago Climate Exchange in the U.S. and European Climate Exchange and European Energy Exchange overseas. Grist: Congratulations on launching the World Green Exchange. I know it's only been up and running for a couple of days, but is it attracting users and working as you had hoped so far? How will you measure success longer term? Adams: Thank you. The World Green Exchange was formally launched last week, but in fact we have been conducting transactions on the platform for the past several months. We're a bit of a conservative firm, and took the view that we would have real client success in the marketplace before making an announcement of our capabilities. As we suspected, the auction approach is performing very well. In several transactions conducted to date, we have significantly bettered benchmark prices that were derived to our clients who were using brokers or bid-ask exchanges.