Carbon Offsets Daily

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Australian Companies Opposed to Emissions Trading

Don Argus, chairman of BHP Billiton -the biggest mining group in the world, is putting pressure on the Australian government to consider alternatives to the emissions trading plan that it’s planning to introduce in 2010. He said:

“Australia should consider and debate all the alternatives to a cap-and-trade system..I would not leave out the carbon tax initiatives. That’s mine, it’s not the company’s view.”

Australian Companies Opposed to Emissions Trading

Australia has committed to reduce its emissions by 60 per cent by the year 2050 and the cap-and-trade scheme is part of its broader effort to meet the target. The plan would bring under its purview a thousand industries who would need to purchase permits in order to emit carbon, thereby cutting down the amount of greenhouse gases vented into the atmosphere.

But since the carbon plan will mean higher costs, Australian businesses would like the government to explore other emission-reducing options. The Climate Change Minister, Penny Wong said:

“We’ve heard from many in the business community that they would prefer a different measure for assessing the cost impact..The government is willing to consider alternative approaches.”

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Indians Hold One-Day Training Class on Carbon Credits, Emissions Trading

United Nations Clean Development Mechanism surely opens opportunities for global GHG reductions while improving economic conditions in developing countries. But one problem that hinders this process is the lack of education and awareness about how carbon markets operate. Otherwise, even businesses operating in third world countries can contribute a good share in the global CDM projects.

Indians Carbon Credits Training

Indians and Chinese are getting large benefits from CDM projects at the moment and this may very well be due to relatively better know-how amongst businesses there. A good example was the recent one-day training class on Carbon Credits held in Mumbai, India. The event was conducted by the Institute of Company Secretaries of India, Centre for Corporate Research & Training (CCRT) on the 30th of this August.

Speakers there discussed and explained the role of United Nations Framework Convention on Climate Change (UNFCCC), Kyoto Protocol and Carbon Trading amongst many other things. Such training courses, no doubt, are an integral part of the move towards a global low-carbon economy. In countries where businesses are unaware of the mechanisms of carbon trading, American and European market actors can collaborate with local bodies to host such events, which would also serve as a marketing campaign for these Western actors.

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