Carbon Offsets Daily

Daily carbon offset news, insight, community.

  • Author:
  • Published: Nov 28th, 2010
  • Category: India
  • Comments: None

India to play ‘bridge’ role at Cancun: Jairam Ramesh

| Sourced From SIFY |

New Delhi, Nov 25 (IANS) With climate change talks at Cancun next week expected to get stuck on some contentious issues between developing and developed countries, Environment Minister Jairam Ramesh Thursday said that India will act as a ‘bridge’ between the two sides.

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  • Published: Sep 21st, 2009
  • Category: Learn
  • Comments: None

Review of Forest Carbon Standards – Development of a tool to help organizations to identify the most appropriate forestry carbon credit

View thesis (blog) or full (pdf).

Background

The concept of climate change began to attract attention in the 19th Century but it was not until the 1970s did substantial debate occur. In 1997, the Kyoto Protocol became the first environmentally focused, global, legally binding document. It has set limits on carbon emissions, officially defined the six greenhouse gases (CO2, CH4, N2O, HFC, PFC and SF6) and utilised three mechanisms (Emissions trading, clean development mechanism and joint implementation) to assist the market in financially viable emission reduction schemes. The voluntary carbon market emerged to fulfill the demand from organizations and businesses that wished to reduce their carbon emissions outside and beyond the compliance market.

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  • Published: Apr 5th, 2009
  • Category: Global
  • Comments: 1

Carbon Policy Meets Trade Policy

|Sourced From Trade about Trade & Technology |

Climate change and carbon dioxide control policies have become major public policy issues in the U.S. and many other countries. The trade impacts of carbon policies started to receive attention as the Ad Hoc Working Group on Further Commitments for Annex I Parties Under the Kyoto Protocol two-week negotiating session began on March 29 in Bonn, Germany. The Ways and Means Committee Subcommittee on Trade of the U.S. House of Representatives also held a hearing on March 24 to begin delving into the impact of carbon policy on trade.

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UNFCCC Secretariat Releases Parties Submissions on Legal Implications Arising from Work of AWG-KP

| Sourced From Climate-L.Org |

March 2009: The UNFCCC Secretariat has released four submissions on views on the legal implications arising from the work of the Ad Hoc Working Group on Further Commitments for Annex I Parties under the Kyoto Protocol (AWG-KP) pursuant to Article 3, paragraph 9, of the Kyoto Protocol. It received the submissions from Belarus, the Czech Republic on behalf of the EU, Japan and New Zealand. Article 3.9 states that commitments for subsequent periods for parties included in Annex I shall be established in amendments to Annex B and the Conference of the Parties serving as the Meeting of the Parties shall initiate consideration of such commitments at least seven years before the end of the first commitment period.

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Romania could derive 1 billion euro from trade in carbon emission rights

| Sourced From FinancialUrl.ro |

Romania could derive almost 1 billion euro each year because the carbon emissions of its industries are 40% under the limits provided for under the Kyoto Protocol. The value has been confirmed by officials of the World Bank in Washington during a conversation with Chairman of the Committee on Industries and Services of the Romanian Chamber of Deputies, the lower chamber of Parliament, daily Jurnalul national reports.

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Energy Producers Taking Long Look At Carbon Capture and Storage

| Sourced From Environmental Leader |

With the Kyoto Protocol due to be renegotiated later this year, and many nations still overwhelmingly reliant on coal for energy production, energy producers are looking to carbon capture and storage techniques as a possible way forward.

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Rosneft and Carbon Trade & Finance signed an Agreement under the Kyoto Protocol

| Sourced From The Financial |

The FINANCIAL — Rosneft and Carbon Trade & Finance SICAR S.A. joint venture between Dresdner Bank and Gazprombank signed the agreement for the purchase of emission reduction units (ERUs) resulting from the implementation of programs for the disposal of associated gas belonging to the Rosneft Kharampurskoye and Khasyreiskoye oilfields in West Siberia under the Kyoto Protocol.

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  • Published: Jan 22nd, 2009
  • Category: Global
  • Comments: 1

Continent gets leg up into lucrative carbon market

| Sourced From Business Report |

To put that in perspective, the projects amount to less than 1 percent of more than 1 300 projects worldwide that have been registered with the CDM, a carbon trading tool of the Kyoto protocol to reduce the gas emissions that cause climate change.

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10 common carbon credit buyer questions — What every seller should know

| Sourced From Environmental Expert |

Youre a project owner or developer with a fresh project generating valuable carbon credits under the Kyoto Protocol. Perhaps this is your first project, or maybe youve already established your track record in the market.

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Carbon credit windfall for Eastern Europe

| Sourced From Porta |

Thanks to Kyoto emission levels pegged to 1990, when pollution was worse, former Eastern Bloc countries now sell carbon credits to Japan.

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  • Published: Jan 17th, 2009
  • Category: Asia
  • Comments: None

Silver lining in economic downturn as industrial inactivity results in less CO2

| Sourced From The Mainichi Daily News|

Despite the clouds hanging over the Japanese economy, there is one silver lining: The drop in industrial activity will cause national carbon dioxide emissions to move closer to their Kyoto Protocol targets, according to a Tokyo-based energy research institute.

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Carbon Emissions CO2 Trading launched By CTA firm Genuine Trading Solutions in support of the Kyoto Protocol.

| Sourced From Newswire |

Genuine Trading Solutions President and CEO, Dwayne Strocen said today “The Kyoto Protocol and Asia-Pacific Partnership On Clean Development And Climate (APP) has taken center stage on bringing awareness to global warming. In response to compelling corporate demand, we have mandated a trading and hedging initiative to support our role as leaders in risk management for the international marketplace. The mandate for trading carbon CO2 emissions is clearly in response to global demand with sound conviction the timing of this launch will be well received.”

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CO2 emissions-cut goal under debate

| Sourced From Daily Yomiuri Online |

International negotiations over a framework for cutting greenhouse gas emissions that will replace the Kyoto Protocol are set to enter their final stage in the run-up to the deadline for the talks in December.

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  • Published: Dec 7th, 2008
  • Category: Global
  • Comments: 2

UN defends carbon-trading scheme from US criticism

| Sourced From CSMonitor.com |

The UNs top climate official defended a global trading scheme to reduce greenhouse gas emissions after the US government released a report questioning its efficacy.
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Japan utilities may join trial CO2 scheme

TOKYO, Oct 24 (Reuters) – Each Japanese utility will consider participating in the planned domestic trial carbon dioxide (CO2) trading scheme, keeping in mind the industry’s voluntary goals under the Kyoto Protocol, the chairman of an industry association said on Friday.

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Vietnam joins global efforts to protect environment

VietNamNet Bridge

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Kyoto Protocol emissions trading system goes global: UNFCCC Press Release

(Bonn, 14 October 2008)

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Carbon Credit Prices to Rise Due to a Fall in Supply

Reports indicate that the United Nations Environment Program (UNEP) has revised its estimates for the supply of Certified Emission Reductions (CERs). It had previously expected to issue 1.51 billion CERs

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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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Dow Jones and CCX Launch Emissions Indexes

EU Lawmakers Recommend Greater Offset Use

EU lawmakers have proposed that industries should be permitted to use carbon offsets to meet 25 per cent of the emission cuts that they are required to make under the European Union’s caps from 2013 to 2020. If the proposals of the EU parliament industry committee are accepted, that would make way for greater use of offsets than what was proposed by the Executive Commission in January.
EU Lawmakers Recommend Greater Offset Use

The lawmakers want to permit industries to be able to offset a fourth of the greenhouse gas reductions they need to make compared to 2008-2012, irrespective of whether an agreement is reached to extend/replace the Kyoto Protocol.

If the proposals go through, that would translate into lower costs for the EU industries to meet their emission targets and also give a boost to the growing carbon market.

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Trading Emissions Cuts CER Portfolio by 3%

Trading Emissions– a UK based company that undertakes investments in environmental and emissions assets has revised its estimates pertaining to the size of its portfolio of Certified Emissions Reductions (CER) to be received by 2012. At the end of 2007, they had expected 57.04 mn CERs, but now it has cut down its portfolio to 55.17 mn CERs.

Trading Emissions Cuts CER Portfolio by 3%

According to analysts, the cut will not have much of an impact due to the rise in the selling prices and also because Trading Emissions has increased its contracted CER portfolio which now stands at 53.7 mn as compared to 51.5 mn in December 2007.

CERs are emission credits under the United Nation’s Clean Development Mechanism that was created under the Kyoto Protocol to help developed countries meet their emission targets at relatively affordable costs by investing in environmental projects in developing nations.

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EU-UN Carbon Link to Go Live in October, CER Prices Rise

We reported yesterday that the software linking the carbon trading schemes of the EU and United Nations will be ready before December, but now there seems to be greater certainty about the timing. The EU’s Executive Commission is looking at the first half of October to connect its carbon trading registry with that of the UN. Timing is of essence because 1 December 2008 marks the date for settlement of CER contracts and failure to get the link working by then will lead to defaults on contracts.

The link was supposed to go live eighteen months ago and the delay coupled with uncertainty about its status had created anxiety among the carbon traders. But now that there is greater clarity, market confidence seems to have been restored somewhat, which has manifested in higher CER prices – they increased by five per cent. Bloomberg reoprts that the prices of EU carbon permits for December have also shot up by 4.4 per cent to reach their highest in a week at $35.95 on the ECX.

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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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EU-UN Carbon Trading Schemes to be Linked Before Year End

The EU carbon market is slated to be linked to the United Nation’s international carbon registry in the coming months. Though an exact date is yet to be announced, the software has been successfully tested and according to the EU’s executive commission, the link will surely go live before December 2008.

Under the EU Emission Trading Scheme (EU ETS), industries are issued a limited number of emission permits to stipulate a cap on the amount of greenhouse gases that they can generate. Industries can exceed the limit by trading with those with extra permits or investing in clean technology in developing countries to earn Certified Emission Reductions ( CERs) under the UN’s Clean Development Mechanism (CDM).

The carbon link will facilitate the transfer of CERs issued under the CDM to the registries of the EU. Carbon traders are hoping that the technical link will be up and running soon as the first major CER contract settlement is due on 1 December 2008. European Commission’s Barbara Helfferich said:

“We had a successful test run. Now we have to see that the U.N. is also ready, so setting the date is under negotiation … It should be shortly.”

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