Sentences with phrase «waste gas credits»
Compared with Indian representatives, Chinese diplomats have shown greater willingness at international meetings to consider altering the subsidy for waste gas credits, said Stephen O. Andersen, a former United States Environmental Protection Agency official who is now with the Institute for Governance and Sustainable Development in Washington.
http://www.heatisonline.org/
Disgusted with the payments, the European Union has announced that as of next year it will no longer accept the so - called waste gas credits from companies in its carbon trading system — by far the largest in the world — essentially declaring them counterfeit currency.
A bigger question is just how much the European Union's decision to disallow, as of next year, the waste gas credits in its immense carbon trading system will decrease their value.
Not exact matches
Paying firms to destroy a potent greenhouse gas sounds like a good way to help combat global warming, but a coalition of outside groups says these companies are deliberately producing more of the waste just to earn offset credits
In India, coolant plants received about half of the United Nations carbon credits awarded to companies in that country, for destroying their waste gas, during the system's first five years.
And last November, it announced that in contract renewals, factories could claim credits for waste gas equivalent only to 1 percent of their coolant production, down from 3 percent.
The United Nations, recognizing the temptation for companies to jump into the lucrative business, has refused since 2007 to award carbon credits to any new factories destroying the waste gas.
Destroying the waste gas is cheap and simple, but it is hard to know exactly how much any one company has earned from doing so, since the market price for carbon credits has varied considerably with demand — from about $ 9 to nearly $ 40 per credit — and they can be sold at a discount through futures contracts.
As a result of political horse trading at UN negotiations on climate change, countries like Russia and the Ukraine were allowed to create carbon credits from activities like curbing coal waste fires, or restricting gas emissions from petroleum production.