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  • Published: Jul 11th, 2009
  • Category: Asia
  • Comments: 1

China On Carbon Tariffs: Drop Dead

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It didnt take long. On July 5, just nine days after the House passed the cap and trade bill (also known as Waxman-Markey) Chinese officials made it clear they are opposed to any carbon taxation scheme. Yao Jian, the spokesman for Chinas Commerce Ministry, said the bill violates basic principles of the World Trade Organization and said that the ruse of environmental protection was being used to protect trade and that it could induce a trade war.

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UPDATE 1-GDF Suez buys 1.6 million CERs from China

LONDON, Nov 3 (Reuters) – French utility GDF Suez said on Monday it has bought around 1.6 million certified emission reduction credits (CERs) CEREc1 from two projects in China.

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Japan approves 2 green projects for carbon offsets

TOKYO, Oct 31 (Reuters) – Japan has approved two reafforestation projects in China and Moldova to provide Japanese fund suppliers U.N. carbon offsets to help them reduce greenhouse gas emissions.

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Ctrip Launches Carbon Offset Program In China

To help in the fight against global warming and reduce greenhouse gas emissions, has announced that it has launched a carbon offset program in China.
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China issues post-Kyoto plans on climate change

The clean development mechanism (CDM) should continue to be implemented even after 2012, when the Kyoto Protocol expires, says a white paper on China’s policies on climate change.
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China hopes for step-by-step progress of low carbon economy

BEIJING, Oct. 30 (Xinhua) — Developing the Low Carbon Economy (LCE), a strategic option to cope with global warming, should follow a step-by-step pattern in accordance with a country’s situation, China’s Vice Environment Minister Zhou Jian said here Thursday.
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Climate Exchange to boost emission trading

A month after two environment and energy exchanges opened virtually simultaneously in Beijing and Shanghai in August, an environmental trading platform was established in Tianjin municipality, one of most vigorously developing cities in China.
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China warns of huge rise in emissions

China is famously reticent with its greenhouse gas emissions data. But a new report penned by researchers at the Chinese Academy of Sciences says China’s greenhouse gas pollution could more than double in two decades.

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Chinese CDM projects suffering from approval delays – officials

Beijing. October 22. INTERFAX-CHINA – Clean Development Mechanism (CDM) projects offer China a way to reach its ambitious goals for a more ecologically friendly energy industry, but the projects are suffering from bottlenecks in the international approval process, government and project officials said at a recent industry forum.

By Hou jie

Full Article Available Only to InterFax Subscribers

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Beijing offers cash to curb capital’s pollution

BEIJING (Reuters) – The Beijing government will give companies who stop highly polluting production up to 2.3 million yuan ($336,500) as a bonus, state media said Sunday, in the latest attempt to clear the capital’s notoriously poor air.

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SCC Raises $280 M to Fund Over 40 Carbon Offset Projects

Reuters today revealed through an undisclosed source that the British firm Sindicatum Carbon Capital (SCC) has been successful in raising $280 million to support carbon offset projects on a global scale. Dubai-based Istithmar contributed around 25% of the fund whereas most of the remaining came from US endowment funds and pension funds.

Carbon Offsets Projects Get Funds

SCC previously tried to raise around $300 million in the first quarter of 2008 but the efforts werent really successful due to a declining economy. The current deal, however, is a new sign of hope for the global carbon offsets market.

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Study Shows Shipping Waste to China Cuts Carbon Footprint

If you transport a thousand tonnes of plastic bottles from industries to ports by road, load them onto gigantic ships, take those ships 10,000 miles away from the UK to China, unload all the waste bottles, and move them to recycling centers, thats going to generate lots of carbon emissions. Nevertheless, a recent UK-based study shows this whole process is still environmentally friendly rather than sending the waste to landfills in the UK!

China Waste Recycling and UK Landfills

Waste Resources Action Programme (WRAP) mentions in the report that recycling is far better for the environment than landfilling, even if you ship waste from one end of the world to another. When used paper is taken from Britain to China for recycling, it saves around two-third emissions that would have otherwise resulted from landfilling. And when it comes to plastic bottles, savings are even greater.

In addition to all this, since most ships go empty from the UK back to China because of the imbalance of trade, they would release CO2 whether you export waste or not. WRAP estimates that every tonne of waste recycled this way results in emissions reductions of around 1300-1600 kg of CO2.

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Say Bye Bye to Cheap Carbon Credits

Recent analysis by New Carbon Finance (NCF) reveals most of the easy carbon credit projects are already being availed and chances are high that such low-price credits will diminish sharply in future. Afterwards, greater efforts and higher investments would have to be put in to gain carbon credits.

Cheap Carbon Credits

Up till now, most cheap credits have come mainly from elimination of two kinds of waste gases, HFC-23 and N2O. These two gases have a greater impact on global warming as compared to carbon dioxide. Due to this larger scale of emissions reductions, low-investment projects have resulted in cheaper carbon credits. However, since most projects cutting these two gases are already operational, future projects would have to earn credits through renewable energy and energy efficiency. This may result in at least a fivefold increase in project costs, which would eventually raise the price of carbon.

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Camco Sells Over 150K Tonnes of CERs from China Coal Mine Project

Camco International closed a big, big carbon offsets deal on Tuesday, selling over 150,000 tonnes of UN-approved offsets that brought the company a profit of $2.6 million. The company refrained from mentioning the buyer of these Certified Emissions Reductions (CERs) but confirmed the transaction took place at an average price of $28.39 per tonne. Camco enjoyed a 3.3% increase in its share price after the news broke out.
Camco Global Logo[/caption]

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