Carbon Offsets Daily

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CO2 treaty must not spark “trade war” -U.S. lawmaker

NEW YORK, March 26 (Reuters) – As the world tries to forge a new treaty to slow global warming, care must be taken not to spark trade conflicts between rich and developing countries, a key U.S. lawmaker said on Thursday.

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  • Published: Mar 26th, 2009
  • Category: Asia
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Experts call for adopting CDM to reduce cost

| Sourced From Daily Times |

ISLAMABAD: CEO Engineering Development Board (EDB), Asad Elahi on Wednesday called upon the industry to adopt Clean Development Mechanism (CDM) in order to reduce cost and improve their competitiveness in the global market.

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  • Published: Mar 25th, 2009
  • Category: Asia
  • Comments: None

Executive Board on CDM under UN Framework Convention on Climate Change registered first CDM projects of Uzbekistan

| Sourced From Trading Markets |

TASHKENT, Mar 23, 2009 (Asia Pulse Data Source via COMTEX) — MSBHY | Quote | Chart | News | PowerRating — On 14 and 16 March 2009 Executive Board on CDM under UN FCCC registered two first CDM projects of Uzbekistan in the framework of Clean Development Mechanism of the Kyoto Protocol. The Kyoto Protocol is an international legal document that defines qualitative commitments on greenhouse gases (GHG) emission reduction. For achieving its environmental objectives the Kyoto Protocol use so called ‘flexible mechanisms’, of which Clean Development Mechanism (CDM) is the most suitable one under conditions of Uzbekistan.

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Carbon trading must balance environmental, economic and legal needs

| Sourced From ABC News |

The overwhelming allure of finding a cost-effective approach to solving the critical global environmental problem of climate change led to the adoption of market mechanisms under the international Kyoto Protocol.

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  • Published: Mar 24th, 2009
  • Category: India
  • Comments: None

I-T dept mulls tax on carbon credits

| Sourced From PTI |

New Delhi, Mar 23 (PTI) The Income-Tax department is mulling tax on carbon credit trade, estimated to yield for the exchequer an estimated Rs 1,000 crore.

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  • Published: Mar 15th, 2009
  • Category: India
  • Comments: None

Carbon credits: note says no loss, J-K corporation says didnt issue it

| Sourced From The Indian Express |

Srinagar: Five days after The Indian Express reported that J-K Chief Minister Omar Abdullah is planning to scrap a Memorandum of Understanding (MoU) between the J-K State Power Development Corporation (JKSPDC) and a private consultancy firm, the Directorate of Information on Sunday issued a statement quoting a

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Governments keep hunting for cheap CO2 credits

LONDON (Reuters) – The market for government-level emissions rights under the Kyoto Protocol is alive and well, mostly unfazed by the global economic downturn. Through the most opaque of the emissions trading schemes under the Kyoto climate change pact, nations comfortably below greenhouse gas targets can sell excess emissions rights to other countries in the form of credits called Assigned Amount Units (AAUs).

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  • Published: Feb 28th, 2009
  • Category: USA
  • Comments: None

US carbon cap, seen as crux of post-Kyoto treaty

| Sourced From Saudi Gazette |

A global carbon market will more likely underpin a new climate treaty, meant to be agreed this year to replace the Kyoto Protocol, after US support for a national cap and trade scheme. But crashing European carbon prices have hardened concerns that using markets may drive a stop-start fight against climate change.
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Carbon Offsets: No Sure Bet to Prevent Climate Change

| Sourced From

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Finland invests in NEFCO Carbon Fund to acquire post-Kyoto carbon credits

| Sourced From STT |

Finland’s Environment and Foreign Ministries announced today that the country will invest three million euros into the NEFCO Carbon Fund (NeCF). Finland’s investment will be earmarked for the acquisition of carbon credits that are generated after the Kyoto Protocol’s first commitment period.

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UNFCCC: International emissions offsetting under Kyoto Protocol has critical role

| Sourced From pressemitteilungen.epo.de |

Bonn. – Combating climate change requires action on all fronts and in all countries, which underscores the need to scale up and enhance innovative initiatives like the clean development mechanism (CDM), said Lex de Jonge in assuming the Chair of the CDM Executive Board.

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Avoid strong secondary carbon markets

| Sourced From Grist |

In solving the climate crisis we need to avoid creating the type of large secondary emissions trading market Kyoto did. Large secondary emission markets constitute a whole new sector with strong incentives that conflict with a really large drop in emissions. Maybe carbon traders are so noble and dedicated to saving the planet that financial self-interest won’t influence them. But, if your view of human nature is that incentives matter, then a strong secondary market creates a group of people with the wrong ones. If incentives matter, then a secondary carbon market runs a real risk of becoming the new sub-prime.

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Recession threatens carbon trading

| Sourced From BBC NEWS |

A crucial scheme to control greenhouse gases is under threat due to the recession.

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Post 2012 Carbon Credit Fund reaches a new milestone in international climate protection

| Sourced From Press Box|

The Fund’s investment mandate is confirmed as the Fund enters into contracts to buy emission reduction certificates issued after the end of the first commitment period of the Kyoto Protocol

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UNFCCC Releases Venezuelas Position on Carbon Dioxide Capture and Storage in Geological Formations as CDM Project Activities

| Sourced From Climate-L |

January 2009: The UNFCCC Secretariat has released an addendum containing the position of Venezuela on the issue of carbon dioxide capture and storage in geologic formations as Clean Development Mechanism (CDM) project activities established in the Kyoto Protocol under discussion in the UNFCCC Subsidiary Body for Scientific and Technological Advice (FCCC/SBSTA/2008/MISC.10/Add.1).

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  • Published: Jan 22nd, 2009
  • Category: USA
  • Comments: None

CO2 Cuts in U.S. Steel Industry Surpass Kyoto Protocol

| Sourced From Environmental Leader |

The U.S. Steel industry has reduced its energy intensity per ton of steel shipped by about 33 percent since 1990 – an improvement on the 29-percent reduction reported in 2006, according to the American Iron and Steel Institute (AISI).

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  • Published: Dec 27th, 2008
  • Category: Asia
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India too may have to reduce carbon emissions

| Sourced From DNA |

While the global recession has brought down the prices of carbon credits, the United Nations climate change summit in Poznan (Poland) recently discussed the future of the Kyoto Protocol.

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Poor countries get access to carbon-credits funds

| Sourced From The Sunday Times |
POZNAN: Poor countries will now have the legal capacity in having direct access to a global facility that funds projects aimed at easing the effects of global warming.

The United Nations Climate Change Conference (UNFCC) in Poland ended in mid-December with a clear commitment from governments to shift into full negotiating mode next year in order to shape an ambitious and effective international response to climate change.

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Canada to Impose Carbon Cuts If Government Falls (Update1)

|Sourced From Bloomberg.com|

Dec. 11 (Bloomberg) — Canadas opposition parties would implement tough carbon-dioxide emissions targets if they vote to topple Prime Minister Stephen Harpers minority Conservative government next year, the countrys Green Party leader said.

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Panel starts talks on midterm CO2 target

| Sourced From Japan Times |

A panel of environment, energy and economic experts held its first meeting Tuesday to help the government set a midterm national target for reducing greenhouse gases next year ahead of key U.N. climate change talks in Copenhagen.
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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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UN to Ensure Carbon Offsets Earned through CDM Projects are Effective

A panel within the United Nations climate agency is working to ensure carbon offsets are not acquired through projects that would give profits even in the absence of offset sales.

Businesses operating in developed countries can offset their emissions by investing in CDM projects within the developing nations as per the guidelines of the Kyoto Protocol. However, this was designed to initiate additional emissions-reduction projects that would not have been commercially feasible if it hadnt been for the chance to sell offsets.

From now on, developers launching a fresh emissions-reduction project need to notify the ministry of environment in their own countries plus the UNs climate agency no later than six months after the project start date.

The panels recommendations can be viewed here.

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