Germany: Ukraine violence must end, says EU foreign minister Ashton
Vidfeo ID: 20140502 031 W/S Frank-Walter Steinmeier, German Minister for Foreign Affairs and Catherine Ashton, European Union foreign policy chief enter M/S Ashton and Steinmeier SOT, Frank-Walte...
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Germany: Ukraine violence must end, says EU foreign minister Ashton - Video
Public Debate on European Union
From 22 to 25 May 2014, elections to the European Parliament will be held in all member states of the European Union (EU) and UTU Debating Club is here to raise awareness. Participation is...
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Public Debate on European Union - Video
European Union carbon permits fell the most in a week as data showed emitters exchanged fewer United Nations offsets than estimated for the EU contracts, signaling lower future demand.
Emitters swapped 133 million metric tons of Certified Emission Reductions and Emission Reduction Units through the end of April under a system begun about March 18, the European Commission said today in a statement on its website. That was less than half of the 300 million tons projected by Bloomberg New Energy Finance.
Factories, power stations and airlines in the EU carbon market, the worlds biggest by traded volume, can use cheaper offset credits for part of their compliance needs. The slower pace of offset use means more of the contracts will be available for use in later years, trimming demand for EU permits, said London-based analyst Richard Chatterton at New Energy.
The delay in implementing the exchange process led to less credit-EU allowance exchanges by end-April than we had expected, he said today by e-mail.
The UN 1997 Kyoto Protocol supports the development of carbon-cutting projects by awarding investors ERUs or CERs that can be sold to companies and governments with pollution caps. One credit equates to a one-ton reduction of carbon dioxide.
December EU carbon permits dropped 4.4 percent to 5.22 euros ($7.23) a ton at 4:59 p.m. on ICE Futures Europe in London. The contract earlier slumped as much as 6 percent, the most since April 25. December CERs were unchanged at 15 euro cents a ton, while no ERUs were traded.
The programs rules curb offset use in the 13 years through 2020 to about 1.59 billion tons, 25 percent of which remains unused after todays announcement, according to New Energy data.
We expect the pre-March 2015 CER and ERU futures contracts to fall close to zero during this year, as the available supply of offsets is greater than remaining EU emissions-trading-system demand, Chatterton said.
May CERs rose 7.1 percent to 15 euro cents, with a record 20,000 tons bought and sold on ICE.
To contact the reporter on this story: Mathew Carr in London at m.carr@bloomberg.net
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EU Carbon Drops Most in a Week as Offset Swap Misses Estimates
Photo Courtesy: Associated Press
European Commissioner for Energy Guenther Oettinger waits for the arrival of EU foreign policy chief Catherine Ashton
Mr Guenther Oettinger said on Friday in Warsaw that common ground must be found in Russia's dispute with Ukraine.
Moscow has significantly raised the price of gas for Ukraine and threatened to limit deliveries if Kiev does not repay a debt of $3.5 billion and pay the new, higher prices.
Mr Oettinger spoke after talking with Ukraine's and Russia's energy ministers, Yuri Prodan and Alexander Novak.
He said further talks will be held in mid-May and at the end of May, in which the 28-country EU will mediate with the aim of establishing a just gas price.
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European Union, Ukraine and Russia to Hold Gas Price Talks
Photo by European Union.
MANILA, PhilippinesThe European Union gives the Philippines until July to prove that its maritime training and monitoring are at par with international standards or its seafarers would be banned from boarding EU-flagged ships.
The EU said Friday deficiencies in audit and monitoring of maritime schools in the Philippines have yet to be fully addressed even as it acknowledged progress in raising the training standard of Filipino seafarers.
The 28-member EU asked Manila to provide by end of July 2014 the necessary evidence to demonstrate that all outstanding deficiencies have been resolved and that they have fully implemented the requirements of the STCW convention. It was referring to the International Convention on Standards of Training, Certification and Watchkeeping for Seafarers.
Failure to resolve any remaining issue may result in the loss of EU recognition, EU said.
The European Maritime Safety Agency (EMSA), which assists the European Commission in monitoring maritime safety compliance, has found deficiencies in the way Filipino seafarers are trained to run commercial vessels.
There are about 100,000 Filipinos on board EU-flagged ships.
The European Commissions Directorate General for Mobility and Transport on April 23 presented to EU Member States its overall assessment of the Philippine maritime education, training and certification system.
According to the report, it appears that the Philippine authorities have made appreciated efforts to bring their system in line with the requirements of the International Convention on Standards of Training, Certification and Watchkeeping for Seafarers, EU said.
The efforts were supported by several EU Member States which provided technical assistance to the Philippine authorities, it added.
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EU to Philippine maritime sector: Shape up or ship out