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California Assembly Approves Bill to Sharply Reduce GHG Emissions

Posted on 29 August 2016 by VRS  |  Email |Print

California’s lower house on Tuesday passed a bill to reduce the state’s greenhouse gas emissions to 40% below 1990 levels by 2030. The State Assembly approved the measure on a 49-30 vote, largely along party lines. Two Democrats opposed the bill, with five abstaining, while just one Republican voted in favor. The bill now advances to the State Senate, where it is expected to pass before being signed into law by Gov. Jerry Brown.
The bill would build on the California Global Warming Solutions Act of 2006, the landmark legislation that required the state to reduce its emission to 1990 levels by 2020. It also codifies an executive order issued last year by Brown, making it more difficult for a future governor to roll back efforts to reduce the state’s emissions………………………………………..Full Article: Source

Wynne heads to Mexico to promote trade and cap-and-trade

Posted on 29 August 2016 by VRS  |  Email |Print

With all the Trump-fuelled talk of trade protectionism in the U.S. presidential election, Premier Kathleen Wynne is headed to Mexico to remind officials there that Ontario is wide open for business.
Wynne flies to Mexico City on Monday for meetings with Mexican political leaders, manufacturers, exporters, and potential investors. “Mexico is our fourth-largest trading partner — $27 billion goes back and forth (annually) so it’s really important that we have that relationship,” the premier told the Star………………………………………..Full Article: Source

Government urged to tear up surplus carbon credits, not use them to meet target

Posted on 26 August 2016 by VRS  |  Email |Print

The Government has been urged to “tear up” its surplus carbon credits instead of using them to meet climate targets. The nearly 86 million surplus credits were described as “laundered” by the Parliamentary Commissioner for the Environment in a recent report.
Co-leader of the Green Party James Shaw said using the surplus credits was like “trying to have two meals for the price of one”. Green Party Co-leader James Shaw has said using the surplus carbon credits was like eating two meals while paying for one………………………………………..Full Article: Source

Could the G-20 Become Coherent on Climate?

Posted on 26 August 2016 by VRS  |  Email |Print

The G-20—a forum of 20 of the world’s largest economies—has a record of ambivalence on the topic of climate change. One case in point is the disconnect between the group’s efforts to address climate risks and its efforts to reduce the shortfall in global infrastructure investment.
On one hand, the G-20 is aware that investing in projects that are high-carbon or vulnerable to the physical effects of rising temperatures carries risks that could have a destabilizing influence on the global economy. On the other hand, the G-20 is seeking to narrow the infrastructure gap in the absence of a guiding principle that infrastructure investments must be climate-compatible………………………………………..Full Article: Source

U.S. and China Prepare for Climate Negotiation

Posted on 25 August 2016 by VRS  |  Email |Print

White House senior adviser Brian Deese is in Beijing this week laying the groundwork for President Obama’s visit to China next month. Deese’s agenda includes meetings with Executive Vice Premier Zhang Gaoli and Xie Zhenhua, special representative for climate change, according to the White House.
The discussions will center on key international environmental agreements, namely the details of implementing the Paris Agreement to curb global greenhouse gas emissions, as well as developing a market to cut emissions from air travel……………………………………….Full Article: Source

Expanding the volume of global carbon markets

Posted on 24 August 2016 by VRS  |  Email |Print

Grenatec principal Stewart Taggart highlights ways to make carbon markets more economically viable, and harness their power to mitigate climate change. Raising carbon prices, eliminating fossil fuel subsidies, reducing carbon pollution-related health care costs. These will transform reducing climate change into a global wealth creation engine.
The most important of the three is eliminating the current $5.3 trillion of annual world fossil fuel subsidies. The Group of Seven has pledged to do this for the world’s largest economies by 2025. The rest of the world can follow. Everyone will gain………………………………………..Full Article: Source

China refiners, petrochemical companies to propose CO2 benchmarking plan

Posted on 24 August 2016 by VRS  |  Email |Print

China’s oil refining, petrochemical and chemical companies will propose a plan to benchmark their carbon dioxide (CO2) emissions as the first step toward setting up an emissions market for the sector, the group’s industry association said on Tuesday.
The China Petroleum and Chemical Industry Federation (CPCIF), China’s oil industry lobbying group, plans to make a proposal by September on how to set benchmarks for the CO2 produced while manufacturing products ranging from diesel fuel to benzene, it said in its China Chemical Industry News newsletter………………………………………..Full Article: Source

China turns to free market in carbon trading to tame smog from fossil-fuel pollution

Posted on 23 August 2016 by VRS  |  Email |Print

There are at least three good reasons why China is likely to succeed in starting the world’s biggest carbon-trading market when its efforts to limit pollution kick in next year.
The government wants to put a cost on emissions of toxic smog to control pollution in industrial cities, starting with Beijing. The market may trade as much as 408 billion yuan (US$61 billion) of certificates a year, a step toward making the economy more transparent to outsiders. And it’s good public relations, showing China is serious about climate change………………………………………..Full Article: Source

Theresa May can reduce carbon emissions or protect British jobs – not both

Posted on 23 August 2016 by VRS  |  Email |Print

The “proper industrial strategy” being advocated by Theresa May faces some immediate tests. The first is climate change: carbon reduction destroys jobs and a “proper industrial strategy” will have to choose jobs over carbon reduction.
The second is the exchange rate, which has been ignored for decades, even though an over-valued currency can wipe out all the efforts of our companies to reduce prices by improving their productivity. In her Birmingham speech Mrs May said she wanted an energy policy that “emphasises the reliability of supply and lower costs for users”, and she voiced her commitment to greater prosperity in which everyone shares………………………………………..Full Article: Source

Analysts slash EU carbon price forecasts following Brexit

Posted on 22 August 2016 by VRS  |  Email |Print

Analysts have slashed their price forecasts for European carbon prices after Britain’s decision to leave the European Union raised questions about the future of the European Emission Trading System (ETS), a Reuters poll showed on Friday.
Analysts have cut their forecasts by 9-18 percent and now expect prices to average 5.46 euros per tonne in 2016, 5.59 euros per tonne in 2017 and 6.02 euros per tonne in 2018 for EU Allowance (EUA) futures, the poll of eight analysts showed. In April, analysts had forecast prices of 6.02, 6.78 and 7.10 euros per tonne. Benchmark European carbon prices have fallen almost 20 percent to around 4.70 euros since Britain voted to leave the EU on June 23 amid fears the country could exit the scheme………………………………………..Full Article: Source

Ending gas flaring more important than carbon trading

Posted on 22 August 2016 by VRS  |  Email |Print

Oil companies have the responsibility to end gas flaring in Nigeria rather than seek to make money through carbon trading on gas flare out projects, a report has said. The report, ‘Up in Smoke: Gas Flaring, Communities and Carbon Trading in Nigeria,’ prepared by Social Action and released in Abuja on Tuesday, said all oil fields that continue to flare associated gas should be shut down to encourage development of associated gas-gathering infrastructure.
Carbon trading is a mechanism through which entities and organisations in the West buy carbon credits from entities in developing countries involved in remission of greenhouse gasses in order to meet their own requirement………………………………………..Full Article: Source

Brexit Concerns Prompt Cut in BNEF’s Outlook for Carbon Prices

Posted on 19 August 2016 by VRS  |  Email |Print

Uncertainty over Britain’s future participation in the European Union carbon market led Bloomberg New Energy Finance to cut its outlook for pollution prices by 14 percent following the decision by U.K. voters to leave the EU.
BNEF analysts forecast on Wednesday that allowances to discharge carbon dioxide in the EU will cost 5.90 euros a metric ton on average in 2016-2019, compared with the previous forecast of 6.90 euros in February, four months before the U.K. referendum won by supporters of Brexit. Britain is the 28-nation bloc’s third-biggest emitter………………………………………..Full Article: Source

China’s Carbon Markets: How Beijing Is Leading With Cap-and-Trade

Posted on 19 August 2016 by VRS  |  Email |Print

China was deathly hot and fevered with excitement about the Olympics, which it was about to host. I was there for a celebration of another sort: the ceremonial signing of an agreement I had helped negotiate to create the Tianjin Climate Exchange (TCX), the first of China’s seven pilot carbon markets.
At the time, it was a landmark in the integration of environmental and economic imperatives. TCX would explore how to use a cap-and-trade system and carbon pricing to encourage the reduction of greenhouse gas emissions………………………………………..Full Article: Source

Norwegian oil firms plan carbon emissions cut in decade to 2030

Posted on 18 August 2016 by VRS  |  Email |Print

Norwegian oil and gas companies plan to cut greenhouse gas emissions by 2.5 million tonnes in the decade to 2030 as part of efforts to rein in global warming, the Norwegian Oil and Gas Association said on Wednesday.
Statoil said it would account for 2 million tonnes of the total cuts planned for the Norwegian continental shelf. The goals could be achieved by measures including more efficient technology, electrification of offshore platforms, carbon capture and storage, the Association said in a statement………………………………………..Full Article: Source

Can carbon trading break the Caribbean free of fossil fuels?

Posted on 18 August 2016 by VRS  |  Email |Print

To the tourists who support most of their economies, the sunny and wind-swept cluster of 15 island nations that constitute the Caribbean Community — often referred to as CARICOM — might seem like a renewable energy paradise, but the opposite is closer to the truth. This year, island governments and business groups have begun to explore carbon emissions trading and other ways to reduce the heavy and costly burdens of the region’s fossil fuel reliance.
“It’s an idea that’s in its infancy, but it’s exciting,” explained Hugh Sealy, a lead negotiator for small island nations in international climate talks and U.N.-appointed consultant to island states looking for ways to develop and use market-based trading mechanisms that nations approved in Paris late last year………………………………………..Full Article: Source

Mexico to launch carbon cap-and-trade market pilot

Posted on 17 August 2016 by VRS  |  Email |Print

Mexico reportedly set to launch 12-month pilot ETS for up to 60 companies in November ahead of full scheme in 2018. Mexico is preparing to launch a 12-month pilot cap and trade scheme in November ahead of an expected full rollout of a national carbon market in 2018, according to media reports.
Up to 60 major power generating companies will be allowed to voluntarily participate in the pilot scheme, according to Reuters reports. The scheme, which will be overseen by independent platform MEXICO2, will set a cap on greenhouse gas emissions and enable firms to trade any excess carbon allowances between them………………………………………..Full Article: Source

Former Labor minister Patrick Conlon urges carbon price to fix electricity system

Posted on 17 August 2016 by VRS  |  Email |Print

A senior Labor figure is urging a carbon price on electricity to lower household bills by kickstarting investment in new-generation power plants. Former state energy minister Patrick Conlon, writing in today’s Advertiser, warns Australian electricity consumers are at the mercy of big, old, dirty and cheap coal-fired power plants and failure to impose a carbon price is thwarting new investment.
“Reliance on old, under-maintained coal burners flirts with disaster. If a couple of big units break down during a hot, high-demand summer, price hikes will obliterate any benefit of cheap coal,” writes Mr Conlon, energy minister from 2002 to 2011. “In that scenario you could see rolling blackouts and gas plants restarted at massive prices.”……………………………………….Full Article: Source

What 10 Years of RGGI’s Carbon-Trading Agreement Means for the Future

Posted on 16 August 2016 by VRS  |  Email |Print

In August 2006, a handful of Northeast and Mid-Atlantic states signed an amended memorandum of understanding that would lay the groundwork for the first multi-state carbon-trading scheme in the U.S.
A decade after that agreement, the Regional Greenhouse Gas Initiative, or RGGI, has cut CO2 emissions from generation sources in those states by 50 million short tons, or 36 percent, from 2008 to 2014. Nine states currently participate, including all of New England, Delaware, Maryland and New York (New Jersey pulled out in 2011)………………………………………..Full Article: Source

The Morgan Foundation call for dodgy carbon credits to stop

Posted on 16 August 2016 by VRS  |  Email |Print

The Morgan Foundation’s calling on the Government to stop passing the buck when it comes to dodgy carbon credits. The Foundation has released a report naming some of New Zealand’s biggest companies as having bought credits out of Russia and the Ukraine.
They were used to offset carbon emissions here at a much cheaper rate. Foundation General Manager Geoff Simmons said companies including BP, Z, Fonterra and NZ Steel bought millions of credits - which have no environmental value………………………………………..Full Article: Source

China to use carbon scheme to boost electric car numbers

Posted on 15 August 2016 by VRS  |  Email |Print

China, the world’s biggest auto producer, plans to include carmakers in its planned national carbon trading scheme to encourage the manufacture of more electric vehicles, according to a draft of rules being circulated in the industry.
Domestic makers and importers of fossil-fuel cars will have to participate in the scheme if they meet a minimum production or sales threshold, according to rules drawn up by the National Development & Reform Commission (NDRC) and posted on a local news website on Thursday………………………………………..Full Article: Source

Switzerland to work with China on CO2 trading scheme

Posted on 15 August 2016 by VRS  |  Email |Print

The picturesque, alpine country of Switzerland is aiming to step up its cooperation with China in the areas of urban planning, water management, and combating climate change. It comes as China is planning to roll out a nationwide carbon trading system by 2017 to cut emissions, building on the seven regional pilot markets first introduced in 2013.
China is the world’s biggest emitter of climate-warming greenhouse gasses and has vowed to make use of market mechanisms to bring carbon dioxide levels to a peak by around 2030………………………………………..Full Article: Source

Why post-Brexit UK can be a climate champion

Posted on 12 August 2016 by VRS  |  Email |Print

A UK without the steadying hand of Brussels could still be a green leader, says David Cameron’s former climate advisor. In an essay on Whitehall’s future low-carbon policies, Stephen Heidari-Robinson argues Europe’s influence on the green sector has been minimal, even negative.
Released from restrictive policies like the 2020 renewables target, which he argues does not address the real climate killer – coal – the country’s emission-busting aims can fly………………………………………..Full Article: Source

How Close Are We To A Global Market For Aircraft Emissions?

Posted on 12 August 2016 by VRS  |  Email |Print

More than 50,000 new large aircraft are expected to take to the skies by 2040 as demand for international aviation skyrockets in emerging markets and beyond. As a result, emissions from the industry are forecasted to triple or quadruple over the next couple of decades – and none of this pollution is covered by the Paris climate agreement.
While important efforts are underway to boost the efficiency of airplanes and to find more environmentally friendly fuels, they won’t be nearly enough to meet our climate goals. We need a policy proven to drive down emissions: A cap on total emissions from aviation, coupled with a market-based trading system that offers airlines incentives for flying cleaner………………………………………..Full Article: Source

Tax carbon, California — the rest of the nation will thank you

Posted on 11 August 2016 by VRS  |  Email |Print

California’s cap-and-trade program to restrict greenhouse gas emissions has hit a major political roadblock. Extending the current program beyond its 2020 expiration most likely requires new action on the part of the Legislature, and majority support looks dubious. And even a majority might not be enough.
Many legal and policy analysts believe the state’s cap-and-trade regime is functionally a tax, and that reauthorizing and extending it requires a two-thirds majority vote of legislators or voters. The legal case to deem the cap-and-trade program a tax is already in the courts………………………………………..Full Article: Source

Understanding China’s climate change commitment

Posted on 11 August 2016 by VRS  |  Email |Print

As the world’s largest emitter of greenhouse gases, China is under the spotlight in the global climate regime. In recent years the country has become increasingly active in international climate negotiations, announcing ambitious mitigation goals. But with its slowing economic growth rate, how committed can we expect China to be?
China’s climate commitments are motivated by two key factors. The first is international pressure. In 1997, when the Kyoto Protocol was negotiated, China represented 21 per cent of the global population but only 14 per cent of global carbon dioxide emissions. China’s official position then was to emphasise the ‘common but differentiated responsibilities’ of countries and evade any quantitative goals………………………………………..Full Article: Source

To Stop Climate Change, Don’t Just Cut Carbon. Redistribute Wealth.

Posted on 10 August 2016 by VRS  |  Email |Print

Climate disruption is inextricably linked to economic inequality. Serious climate solutions must be, too. This year’s Democratic platform has the fingerprints of progressive movements all over it. A $15 minimum wage, a pathway to cannabis legalization, improvements to Social Security, police accountability, and financial reforms — including a tax on speculation — all make an appearance.
The platform also highlights the critical link between climate and the economy. In particular, it argues that “carbon dioxide, methane, and other greenhouse gases should be priced to reflect their negative externalities.”……………………………………….Full Article: Source

If Clinton Wins, American Can Look to California for Cutting Carbon

Posted on 09 August 2016 by VRS  |  Email |Print

California is the incubator for US environmental regulation. Its clean air, water, and energy standards invariably presage similar efforts nationwide. California’s eco-friendly culture deserves tremendous credit for this, but it’s the state’s strong economy and colossal buying power that silence critics who argue green laws are bad for business.
Which makes the drama surrounding the Golden State’s cap and trade system quite interesting. On one hand, the system works beautifully. In its first two years, it has systematically cut greenhouse gas emissions. But cap and trade was supposed to generate millions of dollars for clean air projects. It did, until recently………………………………………..Full Article: Source

Reducing emissions, improving technology: A mutually reinforcing cycle

Posted on 09 August 2016 by VRS  |  Email |Print

An MIT study on the connection between technology development and emissions-reduction policies informs Paris climate negotiations. In December 2015, much of the world celebrated when 195 nations plus the European Union reached an agreement to address climate change and pledged to meet nationally determined emissions-reduction targets at the United Nations climate talks in Paris.
But many experts have observed that the national targets in the Paris Agreement aren’t sufficiently aggressive to meet the goal of limiting global warming to less than 2 degrees Celsius. Moreover, they worry that some countries won’t be willing — or able — to meet their targets………………………………………..Full Article: Source

Carbon price chaos

Posted on 08 August 2016 by VRS  |  Email |Print

If cap-and-trade is going to be so great for Ontario, why do its financial implications have to be dragged out of Premier Kathleen Wynne and her cabinet ministers? Clearly, the Liberals are relying on public confusion to avoid having to give answers they know will be unpopular, so today let’s examine what’s really going on.
First, if their goal was, as they claim, to be open and transparent about carbon pricing, they would have chosen a carbon tax to implement — a visible form of carbon pricing as opposed to cap-and-trade, which is a hidden one………………………………………..Full Article: Source

Farmers failing to take advantage of carbon credits

Posted on 08 August 2016 by VRS  |  Email |Print

Carbon credits for forestry are too complicated for most farmers to take advantage of, according to former NZ Farm Forestry Association president and South Canterbury farmer Ian Jackson. He was commenting on big rises in New Zealand carbon prices, which have almost doubled to $18 a tonne after languishing as low as $2.50 only two years ago.
“We are yet to see an increase in interest in farm forestry because most people wouldn’t have a clue about carbon credits,” he said. “But there is a real market and a real opportunity for people in carbon trading if they get expert advice.”……………………………………….Full Article: Source

Green economies and the Global Goals

Posted on 05 August 2016 by VRS  |  Email |Print

PwC’s Malcolm Preston’s speech to the UNCTAD 14, Fostering green economies through trade, investment and innovation event - in full. We have heard from other speakers about the importance of developing Green Economy strategies.
But we have also heard that the term is not universally defined and there is no globally agreed definition for a Green Economy, although the broad principles are generally agreed………………………………………..Full Article: Source

EU carbon dioxide allowance prices fall 17% in July

Posted on 04 August 2016 by VRS  |  Email |Print

EU carbon dioxide allowance prices under the EU Emissions Trading System fell sharply in July in the wake of the UK’s vote to leave the EU and as traders began to scale back activity for the summer holiday period.
Rising coal prices also had a negative impact on coal-fired power profit margins, dampening appetite for selling forward power. EU Allowances for delivery in December 2016 averaged Eur4.65/mt in July, down 98 euro cent or 17% from June’s average of Eur5.63/mt, according to S&P Global Platts daily closing assessments………………………………………..Full Article: Source

Our real carbon footprint is still rising

Posted on 04 August 2016 by VRS  |  Email |Print

The UK’s ‘real’ carbon footprint -emissions of climate-changing gases caused by our consumption of goods and services - are rising, according to government figures published this week. Usually we think about UK carbon emissions in terms of tonnes of gas generated within our own island borders, chiefly from burning fossil fuels in cars, power stations, industrial plants, central heating boilers and so on.
These ‘territorial’ emissions have been falling for quarter century. They are the ones covered under the UK’s carbon cutting targets and its world-leading Climate Change Act. Happy days………………………………………..Full Article: Source

U.N. aviation emissions pact may be voluntary at first

Posted on 03 August 2016 by VRS  |  Email |Print

A deal to limit carbon emissions from global civil aviation could be voluntary for the first five years instead of mandatory for certain countries under the current proposal, four sources familiar with the matter said.
Facing an October deadline, countries have been unable so far to agree on the metrics that would oblige participants to be included, said the sources, who spoke on condition of anonymity because they are involved in the talks and the idea of a voluntary first phase has not been made public………………………………………..Full Article: Source

The climate business

Posted on 02 August 2016 by VRS  |  Email |Print

We find that Nepali industries and businesses don’t have any plans to reduce their carbon footprints. Scientists in the 19th century predicted, perhaps for the first time, that an increase in greenhouse gases (GHGs) in atmosphere could irreversibly alter earth’s climate. The scientific findings in the past quarter of a century have proven them right.
The effects of greenhouse gases are severe and far-reaching, according to the Intergovernmental Panel on Climate Change (IPCC). GHGs are largely by-products of economic activities. In the past two decades, climate change has also become a business issue because of its likely impact on overall business………………………………………..Full Article: Source

EU climate rules a missed opportunity to drive energy efficient building renovation

Posted on 02 August 2016 by VRS  |  Email |Print

The EU must focus its legislation on policies that have the most potential to bring change. Unfortunately, its new Effort Sharing Regulation to cut greenhouse gas emissions missed an opportunity to drive energy efficient building renovation, which has huge potentital to cut CO2.
Shradha Abt is Energy Efficiency Manager at the European Insulation Manufacturers Association (Eurima). With post ‘Brexit’ fever still one of the most dominant political conundrums being discussed in Europe, many believe that the strategic question is as simple as this; more or less EU? By which you can read, more or less EU regulation?……………………………………….Full Article: Source

Confident that states will reach consensus on limiting carbon emissions

Posted on 01 August 2016 by VRS  |  Email |Print

Global airlines body International Air Transport Association (IATA) has expressed confidence that a consensus will be reached on limiting the carbon emissions in the aviation sector during the forthcoming ICAO Assembly.
Global Market Based Measures (GMBMs), a potential means for limiting or reducing carbon emissions, have been under consideration of International Civil Aviation Organisation (ICAO) for many years. At the 38th Session of ICAO Assembly in September 2013, a decision was taken to develop a GMBM scheme to limit CO2 emissions in the aviation sector………………………………………..Full Article: Source

Scotland second in Western Europe for reducing emissions

Posted on 01 August 2016 by VRS  |  Email |Print

Environmental campaigners have welcomed figures showing Scotland has achieved the second-highest reduction in greenhouse gas emissions in Western Europe over a quarter of a century.
Figures released by the Scottish Government reveal that the country managed a reduction of 39.5% from 1990 to 2014. This compared with drops of around 34% for England and 33% for the UK as a whole. In Western Europe, Scotland’s figures were bettered only by Sweden, which saw a decline of 54.5% over the same period………………………………………..Full Article: Source

The global philosopher: Who should pay for climate change?

Posted on 29 July 2016 by VRS  |  Email |Print

Most climate scientists think the world is getting warmer and that humans are at least in part responsible. Almost every country in the world has pledged to make efforts to stabilise greenhouse gas concentrations in the atmosphere in order to prevent dangerous “interference with the climate system”. But exactly how to do this raises interesting questions about fairness.
To discuss them, we put Harvard philosopher Michael Sandel in a state-of-the-art digital studio - connected to 60 people in 30 countries. Here producer David Edmonds outlines three key puzzles………………………………………..Full Article: Source

Good emissions trading programs are unique, not one-size-fits-all

Posted on 29 July 2016 by VRS  |  Email |Print

Climate change is a global problem — but its solution relies on national, regional, and local policy actions. Take the issue of greenhouse gas emissions markets, which put a price on, say, the amount of carbon a country can release into the atmosphere.
There are about 45 substantial climate-focused markets around the world, including some operating within parts of a single country, such as California’s cap-and-trade program. But 195 countries developed the Paris Agreement in 2015 to reduce emissions. Can the trading schemes used in one place be readily adopted by others?……………………………………….Full Article: Source

Climate Change and Emissions Trading Programs

Posted on 28 July 2016 by VRS  |  Email |Print

Climate change is a global problem — but its solution relies on national, regional, and local policy actions. Take the issue of greenhouse gas emissions markets, which put a price on, say, the amount of carbon a country can release into the atmosphere.
There are about 45 substantial climate-focused markets around the world, including some operating within parts of a single country, such as California’s cap-and-trade program. But 195 countries developed the Paris Agreement in 2015 to reduce emissions. Can the trading schemes used in one place be readily adopted by others?……………………………………….Full Article: Source

Indonesia to tap into rich blue carbon potential

Posted on 28 July 2016 by VRS  |  Email |Print

The nation is set to take advantage of its blue carbon potential, estimated to be huge, as the country’s seagrass and mangroves account for 17 percent of the world’s blue carbon reserves.
Blue carbon is the carbon captured by the world’s oceans and coastal ecosystems. Mangroves and seagrass bind carbon dioxide and water, and, with the assistance of sunlight, is converted into sugars and oxygen to support their growth. The excess production of the plant is buried in the sediment, where it can remain stored………………………………………..Full Article: Source

Carbon Trade Exchange rebrands after launch of new platform

Posted on 27 July 2016 by VRS  |  Email |Print

Carbon Trade Exchange (CTX), a global leader in environmental commodity markets, today announced that the firm has launched a new technology platform and has rebranded as Colonial Bourses.
“The new technology will enable us to implement our multi-product vision and provide market participants with greater access to the world’s environmental markets that is simple, secure and transparent.” comments Nathan Rockliff, Executive Director and COO………………………………………..Full Article: Source

If Carbon Pricing Is So Great, Why Isn’t It Working?

Posted on 27 July 2016 by VRS  |  Email |Print

Political hurdles and low prices have made carbon pricing a low-impact affair. But there’s still hope it can help limit climate change. Earth’s atmosphere has long served as a free dump for carbon dioxide and other greenhouse gases generated by humans.
That is changing as policy-makers embrace economists’ advice that the best way to cut greenhouse gas emissions is to charge an atmospheric disposal fee. As a result, governments are increasingly tacking on a price for carbon when fossil fuels are sold and/or consumed, allowing their economies to internalize some of the social and economic costs associated with burning coal, oil and natural gas………………………………………..Full Article: Source

A (Carbon) Market-Driven Approach to Sustainability

Posted on 26 July 2016 by VRS  |  Email |Print

In December of 2015, representatives from virtually every nation gathered in Paris for the 21st Conference of the Parties, better known as COP21. While the conference didn’t fully resolve the steps needed to address the issue of climate change, the signatures from countries throughout the globe symbolized the emergence of a worldwide commitment to climate action.
Officially, COP21’s stated goal was to balance carbon emissions by the latter half of the century. But while the related objectives often target 2030, 2050 or beyond, they will only be realized by making changes today………………………………………..Full Article: Source

CBI urges Greg Clark to deliver low-carbon promises

Posted on 26 July 2016 by VRS  |  Email |Print

Business group urges BEIS to deliver energy and climate polices which show UK remains open for low carbon investment throughout Brexit negotiations and beyond. The UK government must demonstrate the country remains open for business following the Brexit vote and is still committed to mobilising investment in essential low carbon infrastructure, the Confederation of British Industry (CBI) has said.
Writing in a blog published yesterday on the influential business group’s website, Barnaby Wharton, senior energy and climate change policy adviser for the CBI, said while negotiations with the EU will take centre stage in the coming months and years, it is “equally important” for the government to develop a stable, long-term energy and climate policy framework to boost investor confidence………………………………………..Full Article: Source

Minister urged to back carbon fee raise

Posted on 25 July 2016 by VRS  |  Email |Print

The climate change minister has not acted on the first policy recommendation of the new Climate Change Advisory Council to support a raise in fees paid by industry for carbon emissions.
The council, established under the 2015 Climate Action Act, wrote to Denis Naughten last month to urge him to back a French proposal to establish a minimum carbon price within the EU emissions trading system (ETS). The ETS requires industrial facilities such as power stations and oil refineries to pay for each tonne of carbon dioxide………………………………………..Full Article: Source

Cambodia: First Carbon Credits Sold in Mondulkiri

Posted on 25 July 2016 by VRS  |  Email |Print

The government, in partnership with the Wildlife Conservation Society (WCS), sold its first carbon credits to billion-dollar media giant Disney for an undisclosed amount from Keo Seima Wildlife Sanctuary in the country’s northeastern province last week. The credits are part of a global carbon emissions trading scheme aimed at offsetting the expulsion of greenhouse gases (GHG) through reciprocal investment in sustainable programs and renewable energy initiatives.
A carbon credit is a financial token that represents one ton of CO2 or other GHG removed from the atmosphere through an emission reduction project – like the 292,690 hectare Keo Seima Wildlife Sanctuary – which can be used by a company, government or private entity to offset harmful carbon emissions they have generated………………………………………..Full Article: Source

EU climate targets fall short of Paris deal ambitions, experts warn

Posted on 22 July 2016 by VRS  |  Email |Print

The European Commission this week missed an opportunity to scale up EU climate action by failing to introduce a mechanism to increase emissions targets over time, a European coalition of environmental NGOs said in a statement.
In its effort sharing regulation proposal presented Wednesday, the Commission outlined how to break down the EU-wide target to reduce emissions from transport, buildings and farming by 30 percent by 2030 into national targets for the 28 member states………………………………………..Full Article: Source

Sailing Around the Paris Climate Accord?

Posted on 22 July 2016 by VRS  |  Email |Print

Shipping was left out of the historic 2015 Paris Agreement on Climate Change, yet the shipping industry pledged to move forward “in the spirit of Paris.” So far, however, it appears that shipping nations are more intent on sailing around Paris than following its principles.
The Paris agreement on Climate Change achieved two important things: it set goals for reducing the impact of climate change and it identified the measures needed to achieve the ambition. The ambition is to achieve a global average temperature rise “well below” 2 degrees Celsius. The way to achieve it was outlined in the Nationally Determined Contributions………………………………………..Full Article: Source

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