Maybe you should just take $ 1 billion in
carbon trading credits and go drink white wine with Al Gore.
Not exact matches
(That's difficult in any system that involves buying and selling
carbon credits, including cap - and -
trade.)
Another issue loaded with political implications is the proposed
carbon -
credit trading mechanism, by which countries with less «pollution» than their set limits can sell
credits to those that exceed their quotas.
The report accepts minister's efforts to include aviation in the EU emissions
trading scheme, where firms would be given a certain allocation of
carbon credits to buy and sell on the open market, but warns this is still «years away».
In contrast, in Europe, which initiated
trading of
carbon credits on January 1 to meet its Kyoto commitments,
credits already sell for about $ 11 to $ 12 per ton.
Since the Kyoto protocol came into force in 2005, companies in the developing world can generate greenhouse gas emission reductions and sell them as «
carbon credits» in the developed world through such mechanisms as the European Union's Environmental
Trading Scheme (EU ETS), which is similar to schemes in Japan and New Zealand.
It also lays out guidelines for
carbon trading, which lets power generators buy allowances or
credits from cleaner electricity sources to meet required CO2 levels.
It isn't officially announced whether nonpolluters can
trade allowances on the Chinese
carbon market, but they will certainly be allowed to take part as offset
credit suppliers.
Tao says that his team cooperates with
carbon trading experts to
credit the emissions data and hopes to sell the
credits to whoever needs them to offset his
carbon footprint.
Luyssaert suggests that
credit — and money — should be given to protect such old - growth forests under
carbon trading schemes and other economic mechanisms to combat climate change.
Like Obama, he supports a cap - and -
trade system — but in his version, the government gives
carbon credits free of charge to companies who continue to pollute.
This is a key factor in
carbon offset schemes, in which trees are given a cash value according to their
carbon content, and
credits can be
traded in exchange for preserving trees.
The CDM awards successfully registered projects Certified Emission Reductions (CERs),
credits that can be sold to governments or into the European Union's
carbon cap - and -
trade program.
The
trading of any commodity — whether wheat, pork bellies or renewable energy
credits — is essentially the same, but it helps to have an understanding of the reality behind the abstract: the color - coded blinking numbers on a broker's multiple computer screens that reflect current prices in a spread of different regional
carbon markets, like the European
Carbon Exchange.
Besides
trading carbon allowances among each other, companies included in Shenzhen and other Chinese
carbon markets are also able to use offset
credits generated by
carbon - cutting projects to cover 5 to 10 percent of their emissions as a way of lowering emissions reduction costs.
CERs are the most heavily
traded carbon offset
credit in the world, used mostly by European companies to keep their greenhouse gas emissions levels beneath a government - mandated cap.
Member states will allocate emissions
credits, much like was done in the European Union's
carbon trading program, and
trade between one another.
It is unclear whether the upcoming Chinese
carbon trading market, starting from next year, will allow companies to
trade emission
credits generated from CCUS projects.
At the moment, these
carbon markets only
trade in
credits for terrestrial ecosystems; for example, keeping a certain amount of forest intact in order to offset a ton of
carbon dioxide emitted by burning fossil fuels.
Under a
carbon trading system,
credits could be handed out to nations allowing them to emit, at the start, one tonne of
carbon per head of their population.
EU officials have confirmed they will move to address controversial
carbon credits that «game» the Clean Development Mechanism (CDM) and undermine the effectiveness of the EU emissions
trading scheme (ETS)...
The objective is for the CGYs to be recognized as equivalent to the
carbon offsets now
traded under the European
Trading System (ETS), EU Member States and companies operating under the EU ETS would purchase and
trade the CGY
credits as they do other GHG allowance
credits.
The index currently includes two
carbon - related
credit plans: European Union Emission
Trading Scheme or EU ETS Phase II and Kyoto Protocol's Clean Development Mechanism.
Australians have been able to
trade in
carbon credits for a few years.
Carbon trading can also involve households, small businesses and farmers participating in
carbon credit projects that are set up to generate
carbon credits and compete in tenders to sell them to the Commonwealth Government's Emissions Reduction Fund.
This has exposed everyday citizens to a diverse range of financial products and derivatives, from
trading forex and currencies to exchanging
carbon credits.
The new agreement will likely lead to a future set of limits allowing Kyoto parties to keep on capping greenhouse - gas emissions and
trading carbon credits.
There is also an incredibly rich conversation going on right now in China on what market - based measures they might want to use —
carbon tax, cap and
trade, sectoral
crediting.
All of which illustrates both the futility of making economic predictions and the futility of the philosophy behind
carbon taxes,
credits and
trading.
It needs to be spelled out, because the «solutions» that are acceptable to the business world (
carbon credit trading and attempts at burying CO2 emissions) will have almost zero effect on the real world — the rate of increase of CO2 in the atmosphere will be unaffected by such «solutions».
They argued that the
trading system provides far too much leeway for dealing in «offsets,»
credits earned by avoiding or preventing emissions of
carbon dioxide.
At any rate, in my personal view, we should not prescribe exactly what needs to be done but should instead implement flexible schemes like Kyoto or the McCain - Lieberman Climate Stewardship Act that allow
trading of emissions
credits,
credits for
carbon sequestration (provided it can truly be shown to work) and so on.
In a «joint policy statement» published in the journal Science last month, a group of researchers from around the world said
trade in
carbon credits earned this way was premature «unless research provides the scientific foundation to evaluate risks and benefits.»
There, James Kanter has a fresh post on developments related to the growing
trade in
carbon offsets,
credits a person or company can buy from someone planting trees or building windmills or the like, which — in theory at least — could compensate for unavoidable emissions of
carbon dioxide or other greenhouse gases.
More importantly, the Climate Security Act of 2007 (Lieberman / Warner bill) is currently in mark - up and exempts co-ops from the cap - and -
trade decreasing
carbon allocations by setting their emissions at 2006 levels until 2035 and then allowing them to sell or
trade their emission
credits.
Gates hammered on points reported here for many years: that without a big, and sustained, boost in spending on basic research and development on energy frontiers, the chances of triggering an energy revolution are nil; that while the private sector and venture capital investors are vital for transforming breakthroughs into marketable products or services, they will not invest in the long - haul inquiry that's required to generate game - changing breakthroughs; that a 1 or 2 percent tax on
carbon - emitting fuels could generate a large, steady stream of money for invigorating the innovation pipeline; that a declining emissions cap and
credit trading system --- if it could survive America's polarized politics --- would have to raise energy costs far beyond what would be politically tenable to generate a similar scale of transformational activity.
• A
carbon tax, OR a robust
carbon cap with a corresponding genuine (and regulated) marketplace for
trading carbon credits.
Aside from the Peabody / Kansas question, do you support either a
carbon tax or a robust
carbon cap combined with a genuine
carbon credit trading marketplace?
However, if some (or many) of these efforts have some smoke - and - mirror aspect to them, or if they become the seemingly easy «solution du jour» and allow us to think that we can avoid larger solutions (fuel efficiency standards;
carbon tax, or firm
carbon cap combined with a robust and regulated
carbon credit trading mechanism; substantial investments in new energy technologies; energy conservation; etc.), their net impact can be more damaging than beneficial.
Credits are being sold on voluntary
carbon -
trading markets (for companies and individuals seeking to offset emissions contributing to global warming).
When I was at the zoo last week, I asked a lawyer from the conservation society whether it might be best to think of these
credits as «conservation
credits,» given the persistent questions about the utility of
carbon trading in limiting the buildup of
carbon dioxide in the atmosphere.
Unfortunately, there don't seem to be legions of lobbyists out there for innovation (and energy efficiency, for that matter), while there are potent forces fighting on the side of coal companies and utilities, financial institutions eager to
trade carbon credits, manufacturers and retailers of today's consumer products.
With other approaches to an energy and climate bill blocked — including
carbon taxes or a broader cap - and -
trade mechanism for controlling emissions — the only viable alternative appears to be to limit a cap to utilities, the one sector that's already familiar with smokestack rules and markets in emissions
credits.
TH: And you've actually testified as an expert in front of a Senate committee on climate change, and The Nature Conservancy is also pretty active in emissions
trading, or
carbon credit trading programs to tackle climate change issues.
In other words, Google's great initiative should not be seen as a reason to dodge the need for a
carbon tax or a robust
carbon cap combined with a genuine, credible,
carbon credit trading market.
The atmosphere is not an infinite dump, so if a
trading system for
carbon dioxide
credits — like the recent financial bubble — doesn't actually lead to progress, we'll know it.
I think people should ask any company (or company representative) that claims to be «green», or wants to sell a «green» product to them, whether that company firmly supports a
carbon cap of some sort (along with a well - regulated
carbon credit trading mechanism) or a
carbon tax.
Rising Tide has had a lot of fun with entrepreneurs involved in
trading credits earned by cutting greenhouse - gas emissions, recently sending «greenwash guerillas» to root out what it called «
carbon traitors» at a conference on
carbon trading.]
Do you support, and will you implement, a «
carbon tax» OR a robust
carbon cap combined with a regulated mechanism of
carbon credit trading?
Do a google search using the words «methane arctic ozone» Make a new tab to google the words «methane nitrous oxides arctic ozone» Make another new tab and google «igor arctic torches» After another tab google «howarth fracking methane» This should keep you busy for quite a while before you realize that
carbon credit trading schemes have nothing to do with what we are facing.