Global Carbon News

Africa May Become Next Big Carbon Market

Admin — Fri, 27 Aug 2010 12:56:21 +0000

Africa may be the next major market for carbon-reduction ventures amid investigations into Chinese certification and as the European Union imposes new regulations, the International Emissions Trading Association said.

“Africa is turning into a major source of premium Clean Development Mechanism projects,” Henry Derwent, chief executive officer and president of the Geneva-based group, said in an interview before the Carbon Forum Asia conference in October. Source

UK to launch reverse VAT charges for CO2 trading

Admin — Fri, 27 Aug 2010 12:55:32 +0000

Britain’s tax authority will introduce reverse value-added tax (VAT) charges relating to carbon emissions trading from November 1, replacing a zero tax rate implemented last year to prevent fraud.

“Under the reverse charge accounting mechanism, it is the responsibility of the customer, rather than the supplier, to account to HM Revenue & Customs for VAT on supplies of the specified emission allowances,” it said in a release on its website dated Friday. Source

The CRC Energy Efficiency Scheme

Admin — Fri, 27 Aug 2010 12:54:40 +0000

The CRC Energy Efficiency Scheme (CRC) is a mandatory cap-and-trade scheme that aims to improve energy efficiency and reduce the amount of carbon dioxide emitted by qualifying UK businesses and public sector bodies. Unlike other emissions trading schemes, including the EU ETS, the CRC targets organisations rather than sites or installations.

The CRC will affect both public and private sector entities. Compliance is mandatory for those businesses and public sector bodies meeting the qualification criteria (see below). To comply, participants will have to monitor their energy consumption and purchase allowances for each tonne of carbon dioxide they emit. Source

The ‘Emissions Power’ Is a Myth

Admin — Fri, 27 Aug 2010 12:53:35 +0000

Despite China’s total carbon emission, which shows China is a major CO2 emitter, its per-capita emissions in 2007 were only 4.6 tons, less than 25 percent of the United States and only half of the EU.

Additionally, China has done the best job in CO2 emission reduction in the world through its strenuous effort in recent years. From 1990 to 2007, the average global per-unit CO2 reduction rate stood at 15.4 percent, with the United States at 27 percent, the average of developed countries 22 percent and the average of developing countries 10.2 percent, while China’s figure stood at 49.2 percent. Source

Carbon emissions reporting to take higher priority in travel

Admin — Fri, 27 Aug 2010 12:12:29 +0000

The changing face of climate policy in China is bringing improvements to business travel management, with more local companies seeking to contribute to carbon emission offset programs, according to FCm Travel Solutions Greater China. The Asia-Pacific based travel management consultancy says a regional and global shift towards lower carbon economies has started to influence the way local companies are reporting on their travel. Demand for carbon emissions reporting on air travel is beginning to grow, with more companies prepared to play a part in offsetting greenhouse gas emissions, FCm says. Source

EU’s carbon offset limits: a boon for brokers?

Admin — Fri, 27 Aug 2010 12:08:21 +0000

New European Union proposals to limit the use of industrial gas carbon offsets in its emissions trading scheme from 2013 could be a boon for reeling carbon brokers as exchanges wait for clarity before they alter their offerings.

EU climate chief Connie Hedegaard said on Wednesday she is considering post-2012 limits for the use of offsets, called Certified Emissions Reductions (CERs), in the wake of concerns over the environmental integrity of a United Nations carbon finance scheme. Source

Department of Energy and Climate Change reveals £34m cuts to low-carbon tech programme

Admin — Fri, 16 Jul 2010 15:34:10 +0000

Details of £34m of cuts on low-carbon technology were published by the Department of Energy and Climate Change (DECC) today as part of £6.2bn savings across Whitehall.

The department said the Carbon Trust, which receives funding to promote the move to a low-carbon economy, would see its budget for helping green technology and businesses cut by £12.6m. There would be £1m less for developing deep geothermal energy, with the technology receiving £1m this year, DECC said. Source

Carbon capture? Not in my yard

Admin — Fri, 16 Jul 2010 15:33:33 +0000

In May I was flown to Pittsburgh, birthplace of America’s coal industry, to attend the annual conference of the Global Carbon Capture and Storage Institute. A mistake all round, probably.

I’d written a few columns critical of the idea that, instead of the world reducing its carbon dioxide emissions, we might bury them underground. Perhaps the GCCSI thought I would come round to its way of thinking. I thought its preparedness to engage with a critic was admirable. We signed the agreements – I could write whatever I liked – and off I went. Source

Biofuels account for 3.3% of UK’s road transport fuel

Admin — Fri, 16 Jul 2010 15:32:21 +0000

Energy companies supplied 1.6 billion litres of biofuels in the second year of the Renewable Transport Fuel Obligation (RTFO), accounting for 3.3% of the UK’s total road transport fuel, according to provisional figures released by the Renewable Fuels Agency (RFA) today (July 15).

Reporting on the volumes and sustainability of biofuel supplied to the UK at the Low Carbon Vehicle Partnership’s annual conference today, the RFA’s chief executive, Nick Goodall, claimed that this figure exceeds the government’s target of 3.25% of transport fuels to come from biofuels. Source

Reduce carbon by making it dear, energy economist argues

Admin — Fri, 16 Jul 2010 15:31:18 +0000

In the absence of decisive intervention from governments, fossil fuels will remain the dominant energy source for the next 25 years to 30 years, despite strong growth in renewable-energy production and despite the build up of climate-changing carbon dioxide (C02) in the atmosphere, a leading US energy economist and author argues.

Speaking during a recent lecture in South Africa organised by the Fossil Fuel Foundation, professor Carol Dahl of the Colorado School of Mines’ Mineral and Energy Programme noted that, in the 100 years from 1900 to 2000, fossil fuels had expanded from 68% of the global energy mix to 83%. Source