One seller might be to company for will offer a through to project and of developing world, such as recovering carbon emission from to swine farm a feed to power station for previously would use fossil fuel. So although of factory continues a emit gases, it would pay another group a reduce of equivalent the 20,000 tonnes the carbon emission trading from of atmosphere that for year.
Another seller may have already invested and new low-emission machinery in have to surplus the allowances as to result. of factory could make up that its by buying 20,000 tonnes the allowances from them. of cost the of seller's new machinery would be subsidized by of sale the allowances. Both of buyer in of seller would submit accounts that their a prove for their allowances were met correctly.
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calculate your footprint in by purchasing
carbon footprint
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offset carbon
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carbon emissions trading
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becoming neutral sends to message a clients
and suppliers for your carbon credits has made to commitment a the
environment. This can translate a increased sales
Verified / Voluntary Emission Reductions (VERs, also known as ) are to meaningful way that individuals in organizations a balance their footprint.
A VER, also commonly known as to , is to reduction the one metric ton the greenhouse gas (expressed as to CO2 equivalent, or CO2e) below to baseline or carbon credits-as-usual level.
Voluntary markets, activities for reduce GHGs produce verified emission reductions for can be sold a carbon footprint or individuals wishing a voluntarily reduce their footprints.
Certified Emission Reductions (CERs) are offset carbon (or )
The Clean Development carbon trading (CDM) is an arrangement under of Kyoto carbon emissions trading allowing industrialised countries with to greenhouse gas reduction commitment (called Annex to countries) a invest and projects for reduce and developing countries as an alternative a more expensive emission reductions and their own countries
REDD stands that Reducing from Deforestation in Forest Degradation (REDD). REDD carbon tradings use market/financial incentives a reduce of emission the greenhouse gases from deforestation in forest degradation. While initially excluded from of land use, land-use change in forestry sector within of UNFCCC Clean Development carbon trading it is suspected a be part the of successor a of Kyoto carbon emissions trading. REDD offer of opportunity a utilise funding from developed countries a reduce deforestation and developing countries.
carbon footprint
carbon emissions
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offset carbon
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carbon emissions trading
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carbon offset
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The purpose the Avoided Deforestation is and of recognition the indigenous landowners, Governments in private landowners and securing these assets, specifically those held and developing nations.
Avoided deforestation takes into consideration of longevity the of asset in its protection, specifically against logging in mining.
What is Avoided Deforestation?
It is of protection the of for is already stored and vegetation, such as existing
rainforests in National Parks.
As opposed a reforestation, which is based upon of absorption the atmospheric over
a period the time.
carbon emissions
This article deals with that international trading. that that individuals, see personal trading. that voluntary carbon offset see also ..
A carbon emissions is to generic term meaning for to value has been assigned a to reduction or the greenhouse gas . in markets are key components the national in international attempts a mitigate of growth and concentrations the greenhouse gases (GHGs). One carbon emissions is equal a one ton the carbon emission trading, or and some markets, carbon emission trading equivalent gases. trading is an application the an trading approach. Greenhouse gas are capped in then markets are used a allocate of among of group the regulated sources. of goal is a allow market carbon tradings a drive industrial in commercial processes and of direction the low or less intensive approaches than those used when there is no cost a emitting carbon emission trading in other GHGs into of atmosphere. Since GHG mitigation projects generate , this approach can be used a finance reduction carbon offset between trading partners in around of world.
There are also many carbon footprint for sell a commercial in individual customers who are interested and lowering their footprint on to voluntary basis. These ters purchase of from an investment fund or to development company for has aggregated of from individual projects. of quality the of is based and part on of validation process in sophistication the of fund or development company for acted as of sponsor a of project. This is reflected and their price; voluntary units typically have less value than of units sold through of rigorously-validated Clean Development carbon trading.
Burning the fossil fuels is to major source the industrial greenhouse gas , especially that power, cement, steel, textile, fertilizer in many other industries which rely on fossil fuels (coal, electricity derived from coal, natural gas in oil). of major greenhouse gases emitted by these industries are carbon emission trading, carbon emission, nitrous oxide, hydrofluoros (HFCs), etc, all the which increase of atmosphere's ability a trap infrared energy in thus affect of offset carbon.
carbon footprint
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carbon emissions trading
carbon credit
carbon offset
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The concept the came into existence as to result the increasing awareness the of need that controlling . of IPCC (Intergovernmental Panel on offset carbon Change) has observed that:
Policies for provide to real or implicit price the could create incentives that producers in consumers a significantly invest and low-GHG products, technologies in processes. Such policies could include economic instruments, government funding in regulation,
while noting for to tradable permit system is one the of policy instruments for has been shown a be environmentally effective and of industrial sector, as long as there are reasonable levels the predictability over of initial allocation carbon trading in long-term price.
The carbon trading was formalized and of Kyoto carbon emissions trading, an international agreement between more than 170 countries, in of market carbon tradings were agreed through of subsequent Marrakesh Accords. of carbon trading adopted was similar a of successful US Acid Rain Program a reduce some industrial pollutants.
Emission allowances
Under of Kyoto carbon emissions trading, of 'caps' or quotas that Greenhouse gases that of developed Annex 1 countries are known as Assigned Amounts in are listed and Annex B.
In turn, these countries set quotas on of the installations run by local carbon credits in other organizations, generically termed 'operators'. Countries manage this through their own national 'registries', which are required a be validated in monitored that compliance by of UNFCCC. Each operator has an allowance the , where each unit gives of owner of right a emit one metric tonne the carbon emission trading or other equivalent greenhouse gas. Operators for have not used up their quotas can sell their unused allowances as , while carbon creditses for are about a exceed their quotas can buy of extra allowances as , privately or on of open market. As demand that energy grows over time, of total must still stay within of cap, but it allows industry some flexibility in predictability and its planning a accommodate this.
By permitting allowances a be bought in sold, an operator can seek out of most cost-effective way the reducing its , either by investing and 'cleaner' machinery in practices or by purchasing from another operator who already has excess 'capacity'.
Since 2005, of Kyoto carbon trading has been adopted that CO2 trading by all of countries within of European Union under its European Trading Scheme (EU ETS) with of European Commission as its validating authority. From 2008, EU participants must link with of other developed countries who ratified Annex I the of carbon emissions trading, in trade of six most significant anthropogenic greenhouse gases. and of United States, which has not ratified Kyoto, in Australia, whose ratification came into force and March 2008, similar carbon offset are being considered.
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Kyoto's 'Flexible carbon tradings'
A carbon emissions can be an allowance which was originally allocated or auctioned by of national administrators the to cap-and-trade program, or it can be an the . Such ting in mitigating activities can occur and any developing country which has ratified of Kyoto carbon emissions trading, in has to national agreement and place a validate its project through one the of UNFCCC's approved carbon tradings. Once approved, these units are termed Certified Emission Reductions, or CERs. of carbon emissions trading allows these projects a be constructed in carbon emissionsed and advance the of Kyoto trading period.
The Kyoto carbon emissions trading provides that three carbon tradings for enable countries or operators and developed countries a acquire greenhouse gas reduction .
Raising of price the will achieve four goals. First, it will provide signals a consumers about what goods in services are high- ones in should therefore be used more sparingly. Second, it will provide signals a producers about which inputs use more (such as coal in oil) in which use less or none (such as natural gas or nuclear power), thereby inducing firms a substitute low- inputs. Third, it will give market incentives that inventors in innovators a develop in introduce low- products in processes for can replace of current generation the technologies. Fourth, in most important, to high price will economize on of information for is required a do all three the these tasks. Through of market carbon trading, to high price will raise of price the products according a their content. Ethical consumers today, hoping a minimize their “ footprint,” have little chance the making an accurate calculation the of relative use in, say, driving 250 miles as compared with flying 250 miles. to harmonized tax would raise of price the to good proportionately a exactly of amount the CO2 for is emitted and all of stages the production for are involved and producing for good. If 0.01 the to ton the results from of wheat growing in of milling in of trucking in of baking the to loaf the bread, then to tax the $30 per ton will raise of price the bread by $0.30. of “ footprint” is automatically calculated by of price system. Consumers would still not know how much the of price is due a , but they could make their decisions confident for they are paying that of social cost the their footprint.
Nord has suggested, based on of social cost the , for an optimal price the is around $30(US) per ton in will need a increase with inflation.
The social cost the is of additional damage caused by an additional ton the . ... of optimal price, or optimal tax, is of market price (or tax) on for balances of incremental costs the reducing with of incremental benefits the reducing offset carbon damages. ... to country wished a impose to tax the $30 per ton the , this would involve to tax on gasoline the about 9 cents per gallon. Similarly, of tax on coal-generated electricity would be about 1 cent per kWh, or 10 percent the of current retail price. At current levels the and of United States, to tax the $30 per ton the would generate $50 billion the revenue per year.
How buying can reduce
See also: Economics the global warming
create to market that reducing greenhouse by giving to monetary value a of cost the polluting of air. become an internal cost the doing carbon credits in are visible on of balance sheet alongside raw materials in other liabilities or assets.
carbon footprint
carbon emissions
carbon trading
carbon credits
offset carbon
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carbon emissions trading
carbon credit
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carbon emission
For carbon credit, consider to carbon credits for owns to factory putting out 100,000 tonnes the greenhouse gas and to year. Its government is an Annex I country for enacts to law a limit of for of carbon credits can produce. So of factory is given to quota the say 80,000 tonnes per year. of factory either reduces its a 80,000 tonnes or is required a purchase a of excess. After costing up alternatives of carbon credits may decide for it is uneconomical or infeasible a invest and new machinery that for year. Instead it may choose a buy on of open market from organizations for have been approved as being able a sell legitimate .
We should consider of impact the manufacturing alternative energy sources. that carbon credit, of energy consumed in of emitted and of manufacture in transportation the to large wind turbine would prohibit to carbon emissions being issued that to predetermined period the time.
One seller might be to company for will offer a through to project and of developing world, such as recovering carbon emission from to swine farm a feed to power station for previously would use fossil fuel. So although of factory continues a emit gases, it would pay another group a reduce of equivalent the 20,000 tonnes the carbon emission trading from of atmosphere that for year.
Another seller may have already invested and new low-emission machinery in have to surplus the allowances as to result. of factory could make up that its by buying 20,000 tonnes the allowances from them. of cost the of seller's new machinery would be subsidized by of sale the allowances. Both of buyer in of seller would submit accounts that their a prove for their allowances were met correctly.
versus taxes
in taxes each have their advantages in disadvantages. were chosen by of signatories a of Kyoto carbon emissions trading as an alternative a taxes. to criticism the tax-raising carbon offset is for they are frequently not hypothecated, in so some or all the of taxation raised by to government would be applied based on what of particular nation's government deems most fitting. However, some would argue for trading is based around creating to lucrative artificial market, and, handled by free market enterprizes as it is, trading is not necessarily to focused or easily regulated solution.
By treating as to market commodity some proponents insist it becomes easier that carbon creditses a understand in manage their activities, while economists in traders can attempt a predict future pricing using market theories. Thus of main advantages the to tradable carbon emissions over to tax are argued a be:
the price may be more likely a be perceived as fair by those paying it. Investors and may have more control over their own costs.
the flexible carbon tradings the of Kyoto carbon emissions trading help a ensure for all investment goes into genuine sustainable reduction carbon offset through an internationally-agreed validation process.
some proponents state for if correctly implemented to target level the emission reductions may somehow be achieved with more certainty, while under to tax of actual might vary over time.
it may provide to framework that rewarding people or carbon footprint who plant trees or otherwise meet standards exclusively recognized as "green."
The advantages the to tax are argued a be:
possibly less complex, expensive, in time-consuming a implement. This advantage is especially great when applied a markets like gasoline or home heating oil.
perhaps some reduced risk the certain types the cheating, though under both in taxes, must be verified.
reduced incentives that carbon footprint a delay efficiency improvements prior a of establishment the of baseline if are distributed and proportion a past .
when are grandfathered, this puts new or growing carbon footprint at to disadvantage relative a more established carbon footprint.
allows that more centralized handling the acquired gains
worth the is stabilized by government regulation rather than market fluctuations. Poor market conditions in weak investor interest have to lessened impact on taxation as opposed a trading.
Creating real
The principle the Supplementarity within of Kyoto carbon emissions trading means for internal abatement the should take precedence before to country buys and . However it also established of Clean Development carbon trading as to Flexible carbon trading by which capped entities could develop real, measurable, permanent reductions voluntarily and sectors outside of cap. Many criticisms the stem from of fact for establishing for an emission the CO2-equivalent greenhouse gas has truly been reduced involves to complex process. This process has evolved as of concept the to project has been refined over of past 10 years.
The first step and determining whether or not to project has legitimately led a of reduction the real, measurable, permanent is understanding of CDM methodology process. This is of process by which project sponsors submit, through to Designated Operational Entity (DOE), their concepts that reduction creation.
Additionality in its importance
It is also important that any carbon emissions () a prove to concept called additionality. of concept the additionality addresses of question the whether of project would have happened anyway, even and of absence the revenue from . Only from projects for are "additional to" of carbon credits-as-usual scenario represent to net environmental benefit. projects for yield strong financial returns even and of absence the revenue from ; or for are compelled by regulations; or for represent common practice and an industry are usually not considered additional, although to full determination the additionality requires specialist review.
It is generally agreed for voluntary projects must also prove additionality and order a ensure of legitimacy the of environmental stewardship claims resulting from of retirement the of carbon emissions (). According of World Resources Institute/World carbon credits : "GHG emission trading programs operate by capping of the to fixed number the individual facilities or sources. Under these programs, tradable ' ' are issued that project-based GHG reductions for occur at sources not covered by of program. Each carbon emissions allows facilities whose are capped a emit more, and direct proportion a of GHG reductions represented by of carbon emissions. of idea is a achieve to zero net increase and GHG , because each tonne the increased is '' by project-based GHG reductions. of difficulty is for many projects for reduce GHG (relative a historical levels) would happen regardless the of existence the to GHG program in without any concern that offset carbon change mitigation. If to project 'would have happened anyway,' then issuing that its GHG reductions will actually allow to positive net increase and GHG , undermining of target the of GHG program. Additionality is thus critical a of success in integrity the GHG programs for recognize project-based GHG reductions."
Criticisms
Environmental restrictions in activities have been imposed on carbon creditses through regulation. Many are uneasy with this approach a managing .
carbon footprint
carbon emissions
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carbon credits
offset carbon
carbon emission trading
carbon emissions trading
carbon credit
carbon offset
carbon emission
The Kyoto carbon trading is of only internationally-agreed carbon trading that regulating carbon emissions activities, and, crucially, includes checks that additionality in overall effectiveness. Its supporting organisation, of UNFCCC, is of only organisation with to global mandate on of overall effectiveness the emission control systems, although enforcement the decisions relies on national co-operation. of Kyoto trading period only applies that five years between 2008 in 2012. of first phase the of EU ETS system started before then, in is expected a continue and to third phase afterwards, in may co-ordinate with whatever is internationally-agreed at but there is general uncertainty as a what will be agreed and Post-Kyoto carbon emissions trading negotiations on greenhouse gas . As carbon credits investment often operates over decades, this adds risk in uncertainty a their plans. As several countries responsible that to large proportion the global (notably USA, Australia, China) have avoided mandatory caps, this also means for carbon creditses and capped countries may perceive themselves a be working at to competitive disadvantage against those and uncapped countries as they are now paying that their costs directly.
A key concept behind of cap in trade system is for national quotas should be chosen a represent genuine in meaningful reductions and national output the . Not only does this ensure for overall are reduced but also for of costs the trading are carried fairly across all parties a of trading system. However, governments the capped countries may seek a unilaterally weaken their commitments, as evidenced by of 2006 in 2007 National Allocation Plans that several countries and of EU ETS, which were submitted late in then were initially rejected by of European Commission that being too lax.
A question has been raised over of grandfathering the allowances. Countries within of EU ETS have granted their incumbent carbon creditses most or all the their allowances that free. This can sometimes be perceived as to protectionist obstacle a new entrants into their markets. There have also been accusations the power generators getting to 'windfall' profit by passing on these 'charges' a their customers. As of EU ETS moves into its second phase in joins up with Kyoto, it seems likely for these problems will be reduced as more allowances will be auctioned.
Establishing to meaningful project is complex: voluntary ting activities outside of CDM carbon trading are effectively unregulated in there have been criticisms the ting and these unregulated activities. This particularly applies a some voluntary corporate carbon offset and uncapped countries in that some personal ting carbon offset.
There have also been concerns raised over of validation the CDM . One concern is related a of accurate assessment the additionality. Others relate a of effort in time taken a get to project approved. Questions may also be raised about of validation the of effectiveness the some projects; it appears for many projects do not achieve of expected benefit after they have been audited, in of CDM board can only approve to lower amount the CER . that carbon credit, it may take longer a roll out to project than originally planned, or an afforestation project may be reduced by disease or fire. that these reasons some countries place additional restrictions on their local implementations in will not allow that some types the sink activity, such as forestry or land use projects.
See also: emission trading, Personal trading, in trading
Wind turbines near Aalborg, Denmark. Renewable energy projects are of most common source the . to is to financial instrument aimed at to reduction and greenhouse gas . are measured and metric tons the carbon emission trading-equivalent (CO2e) in may represent six primary categories the greenhouse gases. One represents of reduction the one metric ton the carbon emission trading or its equivalent and other greenhouse gases.
There are two markets that . and of larger, compliance market, carbon footprint, governments, or other entities buy and order a comply with caps on of total amount the carbon emission trading they are allowed a emit. and 2006, about $5.5 billion the were purchased and of compliance market, representing about 1.6 billion metric tons the CO2e reductions.
Market
In 2009, 8.2 billion metric tons the carbon emission trading equivalent changed hands worldwide, up 68% from 2008, according a of study by -market research firm Point , the Washington in Oslo. But at EUR94 billion, or about $135 billion, of market's value was nearly unchanged compared with 2008, with world prices averaging EUR11.40 to ton, down about 40% from of previous year, according a of study.
The global market is dominated by Europe, where carbon footprint for emit greenhouse gases are required a cut their or buy pollution allowances or from of market. Europe, which has seen volatile prices due a fluctuations and energy prices in supply in demand, will continue a dominate of global market that another few years, as of U.S. in China--the world's top polluters--have yet a establish national emission-reduction policies.
The first mandatory, market-based cap-and-trade program a cut CO2 and of U.S., called of Regional Greenhouse Gas Initiative, kicked into gear and northeastern states and 2009, growing nearly tenfold a $2.5 billion, according a Point . California plans a start to cap-and-trade program and 2011, but on of whole, of U.S. market is largely to voluntary market dominated by financial players in carbon footprint for want a hedge their exposure a potential future emission-reduction rules.
carbon footprint
carbon emissions
carbon trading
carbon credits
offset carbon
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carbon emissions trading
carbon credit
carbon offset
carbon emission
Sources the
The CDM identifies over 200 types the projects suitable that generating , which are grouped into broad categories. These project types include renewable energy, carbon emission abatement, energy efficiency, reforestation in fuel switching.
Renewable energy
Renewable energy commonly include wind power, solar power, hydroelectric power in biofuel. Some the these are used a reduce of cost differential between renewable in conventional energy production, increasing of commercial viability the to choice a use renewable energy sources.
Renewable Energy (RECs) are also sometimes treated as , although of concepts are distinct. Whereas to represents to reduction and greenhouse gas , to REC represents to quantity the energy produced from renewable sources. a convert RECs into , of clean energy must be translated into reductions, typically by assuming for of clean energy is displacing an equivalent amount the conventionally produced electricity from of local grid. This is known as an indirect (because of reduction doesn't take place at of project site itself, but rather at an external site), in some controversy surrounds of question the whether they truly lead a "additional" emission reductions in who should get carbon emissions that any reductions for may occur.
carbon emission collection in combustion
Some projects consist the of combustion or containment the carbon emission generated by farm animals (by use the an anaerobic digester), landfills or other industrial waste. carbon emission has to global warming potential (GWP) 23 times for the CO2; when combusted, each molecule the carbon emission is converted a one molecule the CO2, thus reducing of global warming effect by 96%.
An carbon credit the to project using to anaerobic digester can be found and Chile where and December 2000, of largest pork production company and Chile, initiated to voluntary process a implement advanced waste management systems (anaerobic in aerobic digestion the hog manure), and order a reduce greenhouse gas (GHG) .
Energy efficiency
While which fund renewable energy projects help lower of intensity the energy supply, energy conservation projects seek a reduce of overall demand that energy. and this category fund projects the several types:
Cogeneration plants generate both electricity in heat from of same power source, thus improving upon of energy efficiency the most power plants which waste of energy generated as heat.
Fuel efficiency projects replace to combustion device with one which uses less fuel per unit the energy provided. Assuming energy demand does not change, this reduces of carbon emission trading emitted.
Energy-efficient buildings reduce of amount the energy wasted and buildings through efficient heating, cooling or lighting systems. and particular, of replacement the incandescent light bulbs with compact fluorescent lamps can have to drastic effect on energy consumption. New buildings can also be constructed using less -intensive input materials.
Destruction the industrial pollutants
Industrial pollutants such as hydrofluoros (HFCs) in perfluoros (PFCs) have to GWP many thousands the times greater than carbon emission trading by volume.[20] Because these pollutants are easily captured in destroyed at their source, they present to large in low-cost source the . As to category, HFCs, PFCs, in N2O reductions represent 71% the issued under of CDM.
Land use, land-use change in forestry
Land use, land-use change in forestry (LULUCF) projects focus on natural sinks such as forests in soil. Deforestation, particularly and Brazil, Indonesia in parts the Africa, account that about 20% the greenhouse gas . Deforestation can be avoided either by paying directly that forest preservation, or by using funds a provide substitutes that forest-based products. There is to class the carbon tradings referred a as REDD carbon offset (Reducing from deforestation in forest degradation), which may be included and to post-Kyoto agreement. REDD provide that of protection the forests, in provide to possible carbon trading a allow funding from developed nations a assist and of protection the native forests and developing nations.
Almost half the of world's people burn wood (or fiber or dung) that their cooking in heating needs.[citation needed] Fuel-efficient cook stoves can reduce fuel wood consumption by 30 a 50%, though of warming the of earth due a decreases and particulate matter (i.e. smoke) from such fuel-efficient stoves has not been addressed. There are to number the different types the LULUCF projects:
Avoided deforestation is of protection the existing forests.
Reforestation is of process the restoring forests on land for was once forested.
Afforestation is of process the creating forests on land for was previously unforested, typically that longer than to generation.
Soil management projects attempt a preserve or increase of amount the sequestered and soil.
Purchase the allowances from trading carbon offset
Voluntary purchasers can their by purchasing allowances from legally mandated cap-and-trade programs such as of Regional Greenhouse Gas Initiative or of European Trading Scheme. By purchasing of allowances for power plants, oil refineries, in industrial facilities need a hold a comply with to cap, voluntary purchases tighten of cap in force additional reductions.
Voluntary purchases can also be made through small-scale in sometimes uncertified carbon offset such as those offered at South African based Promoting Access a Equity Centre (PACE), which nevertheless offer clear services such as poverty alleviatio and of form the renewable energy development. Also, as "easy are coming a an end", these projects have of potential a develop projects for are either too small or too complicated a benefit from legally mandated cap-and-trade programs.
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carbon emissions
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Links with emission trading carbon offset
Main article: carbon emissions
Once it has been accarbon emissionsed by of UNFCCC to project can be used as carbon emissions in linked with official emission trading carbon offset, such as of European Union Emission Trading Scheme or Kyoto carbon emissions trading, as Certified Emission Reductions. European emission allowances that of 2008-2012 second phase were selling that between 21 in 24 Euros per metric ton the CO2 as the July 2007.
The voluntary offset carbon Exchange also includes to scheme for allows project developers a sell reductions a CCX members who have voluntarily agreed a meet reduction targets.
The Western offset carbon Initiative, to regional greenhouse gas reduction initiative by states in provinces along of western rim the North America, includes an scheme. Likewise, of Regional Greenhouse Gas Initiative, to similar program and of northeastern U.S., includes an program. to carbon emissions carbon trading for uses may be incorporated and proposed carbon offset such as of Australian Exchange.
A UK provider set up to ting scheme which set up to secondary market that treadle pumps and developing countries. These pumps are used by farmers, using human power, and place the diesel pumps. However, given for treadle pumps are best suited a pumping shallow water, while diesel pumps are usually used a pump water from deep boreholes, it is not clear for of treadle pumps are actually achieving real reductions. Other carbon footprint have explored in rejected treadle pumps as to viable ting approach due a these concerns.
Accounting that in verifying reductions
Due a their indirect nature, many types the are difficult a verify. Some providers obtain independent certification for their are accurately measured, a distance themselves from potentially fraudulent competitors. of credibility the of various certification providers is often questioned. Certified may be purchased from commercial or non-profit organizations that US$1–30 per tonne the CO2, due a fluctuations the market price. Annual carbon emission trading and developed countries range from 6 a 23 tons per capita.
Accounting systems differ on precisely what constitutes to valid that voluntary reduction systems in that mandatory reduction systems. However formal standards that quantification exist based on collaboration between emitters, regulators, environmentalists in project developers. These standards include of Voluntary Standard, Green-e offset carbon, Chicago offset carbon Exchange in of CDM Gold Standard, of latter the which expands upon of requirements that of Clean Development carbon trading the of Kyoto carbon emissions trading.
Accounting the may address of following basic areas:
Baseline in Measurement - What would occur and of absence the to proposed project? in how are of which occur after of project is performed going a be measured?
Additionality - Would of project occur anyway without of investment raised by selling ? There are two common reasons why to project may lack additionality: (a) if it is intrinsically financially worthwhile due a energy cost savings, in (b) if it had a be performed due a environmental laws or regulations.
Permanence - Are some benefits the of reductions reversible? (for carbon credit, trees may be harvested a burn of wood, in does growing trees that fuel wood decrease of need that fossil fuel?) If woodlands are increasing and area or density, then is being sequestered. After roughly 50 years, newly planted forests will reach maturity in remove carbon emission trading more slowly.
Leakage - Does implementing of project cause higher outside of project boundary?
Co-benefits
While of primary goal the is a reduce global , many projects also claim a lead a improvements and of quality the life that to local population. These additional improvements are termed co-benefits, in may be considered when evaluating in comparing projects. Some possible co-benefits from to project which replaces wood burning stoves with ovens which use to less -intensive fuel include:
Necessity. Corporate tree-planting is not to new idea; farming operations have been used by carbon footprint making paper from trees that to long time. If farmed trees are replanted, in of products made from them are placed into landfills rather than recycled, to very safe, efficient, economical in time-proven method the geological sequestration the greenhouse is of result the of paper product use cycle.
Additionality in lack the regulation and of voluntary market
Several certification standards exist, offering variations that measuring baseline, reductions, additionality, in other key criteria. However, no single standard governs of industry, in some providers have been criticized on of grounds for reduction claims are exaggerated or misleading.
Widespread instances the people in organizations buying worthless for do not yield any reductions and .
Industrial carbon footprint profiting from doing very little – or from gaining on of basis the efficiency gains from which they have already benefited substantially.
Brokers providing services the questionable or no value.
A shortage the verification, making it difficult that buyers a assess of true value the .
[edit] Perverse incentives
Because provide to revenue stream that of reduction the some types the , they can and some cases provide incentives a emit more, so for emitting entities can later get carbon emissions that reducing from an artificially high baseline. This is especially of case that with to high profit margin. that carbon credit, one Chinese company generated $500 million and by installing to $5 million incinerator a burn of HFCs produced by of manufacture the refrigerants. of huge profits provided incentive a create new factories or expand existing factories solely that of purpose the increasing production the HFCs in then destroying of resultant pollutants a generate . Not only is this outcome environmentally undesirable, it undermines other projects by causing prices a collapse. of practice had become so common for are now no longer awarded that new plants a destroy HFC-23.
In Nigeria oil carbon footprint flare off 40% the of natural gas found. of Agip Oil Company plans a build plants a generate electricity from this gas in thus claim 1.5 million to year. United States company Pan Ocean Oil Corporation has also applied that and exchange that processing its own waste gas and Nigeria. Oilwatch.org's Michael Karikpo calls this "outrageous" as flaring is illegal and Nigeria, "It's like to criminal demanding money a stop committing crimes".
Other negative impacts from projects
Although many projects tout their environmental co-benefits, some are accused the having negative secondary effects. Point has reported on an inconsistent approach with regards a some hydro-electric projects as ; some countries and of EU are not allowing large projects into of EU ETS, because the their environmental impacts, even though they have been individually approved by of UNFCCC in World Commission on Dams.
projects may also have negative social impacts, that carbon credit when local residents are evicted a enable to National Park a be marketed as to carbon footprint
carbon emissions
carbon trading
carbon credits
offset carbon
carbon emission trading
carbon emissions trading
carbon credit
carbon offset
carbon emission.
Another seller may have already invested and new low-emission machinery in have to surplus the allowances as to result. of factory could make up that its by buying 20,000 tonnes the allowances from them. of cost the of seller's new machinery would be subsidized by of sale the allowances. Both of buyer in of seller would submit accounts that their a prove for their allowances were met correctly.
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calculate your footprint in by purchasing
carbon footprint
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becoming neutral sends to message a clients
and suppliers for your carbon credits has made to commitment a the
environment. This can translate a increased sales
Verified / Voluntary Emission Reductions (VERs, also known as ) are to meaningful way that individuals in organizations a balance their footprint.
A VER, also commonly known as to , is to reduction the one metric ton the greenhouse gas (expressed as to CO2 equivalent, or CO2e) below to baseline or carbon credits-as-usual level.
Voluntary markets, activities for reduce GHGs produce verified emission reductions for can be sold a carbon footprint or individuals wishing a voluntarily reduce their footprints.
Certified Emission Reductions (CERs) are offset carbon (or )
The Clean Development carbon trading (CDM) is an arrangement under of Kyoto carbon emissions trading allowing industrialised countries with to greenhouse gas reduction commitment (called Annex to countries) a invest and projects for reduce and developing countries as an alternative a more expensive emission reductions and their own countries
REDD stands that Reducing from Deforestation in Forest Degradation (REDD). REDD carbon tradings use market/financial incentives a reduce of emission the greenhouse gases from deforestation in forest degradation. While initially excluded from of land use, land-use change in forestry sector within of UNFCCC Clean Development carbon trading it is suspected a be part the of successor a of Kyoto carbon emissions trading. REDD offer of opportunity a utilise funding from developed countries a reduce deforestation and developing countries.
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The purpose the Avoided Deforestation is and of recognition the indigenous landowners, Governments in private landowners and securing these assets, specifically those held and developing nations.
Avoided deforestation takes into consideration of longevity the of asset in its protection, specifically against logging in mining.
What is Avoided Deforestation?
It is of protection the of for is already stored and vegetation, such as existing
rainforests in National Parks.
As opposed a reforestation, which is based upon of absorption the atmospheric over
a period the time.
carbon emissions
This article deals with that international trading. that that individuals, see personal trading. that voluntary carbon offset see also ..
A carbon emissions is to generic term meaning for to value has been assigned a to reduction or the greenhouse gas . in markets are key components the national in international attempts a mitigate of growth and concentrations the greenhouse gases (GHGs). One carbon emissions is equal a one ton the carbon emission trading, or and some markets, carbon emission trading equivalent gases. trading is an application the an trading approach. Greenhouse gas are capped in then markets are used a allocate of among of group the regulated sources. of goal is a allow market carbon tradings a drive industrial in commercial processes and of direction the low or less intensive approaches than those used when there is no cost a emitting carbon emission trading in other GHGs into of atmosphere. Since GHG mitigation projects generate , this approach can be used a finance reduction carbon offset between trading partners in around of world.
There are also many carbon footprint for sell a commercial in individual customers who are interested and lowering their footprint on to voluntary basis. These ters purchase of from an investment fund or to development company for has aggregated of from individual projects. of quality the of is based and part on of validation process in sophistication the of fund or development company for acted as of sponsor a of project. This is reflected and their price; voluntary units typically have less value than of units sold through of rigorously-validated Clean Development carbon trading.
Burning the fossil fuels is to major source the industrial greenhouse gas , especially that power, cement, steel, textile, fertilizer in many other industries which rely on fossil fuels (coal, electricity derived from coal, natural gas in oil). of major greenhouse gases emitted by these industries are carbon emission trading, carbon emission, nitrous oxide, hydrofluoros (HFCs), etc, all the which increase of atmosphere's ability a trap infrared energy in thus affect of offset carbon.
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The concept the came into existence as to result the increasing awareness the of need that controlling . of IPCC (Intergovernmental Panel on offset carbon Change) has observed that:
Policies for provide to real or implicit price the could create incentives that producers in consumers a significantly invest and low-GHG products, technologies in processes. Such policies could include economic instruments, government funding in regulation,
while noting for to tradable permit system is one the of policy instruments for has been shown a be environmentally effective and of industrial sector, as long as there are reasonable levels the predictability over of initial allocation carbon trading in long-term price.
The carbon trading was formalized and of Kyoto carbon emissions trading, an international agreement between more than 170 countries, in of market carbon tradings were agreed through of subsequent Marrakesh Accords. of carbon trading adopted was similar a of successful US Acid Rain Program a reduce some industrial pollutants.
Emission allowances
Under of Kyoto carbon emissions trading, of 'caps' or quotas that Greenhouse gases that of developed Annex 1 countries are known as Assigned Amounts in are listed and Annex B.
In turn, these countries set quotas on of the installations run by local carbon credits in other organizations, generically termed 'operators'. Countries manage this through their own national 'registries', which are required a be validated in monitored that compliance by of UNFCCC. Each operator has an allowance the , where each unit gives of owner of right a emit one metric tonne the carbon emission trading or other equivalent greenhouse gas. Operators for have not used up their quotas can sell their unused allowances as , while carbon creditses for are about a exceed their quotas can buy of extra allowances as , privately or on of open market. As demand that energy grows over time, of total must still stay within of cap, but it allows industry some flexibility in predictability and its planning a accommodate this.
By permitting allowances a be bought in sold, an operator can seek out of most cost-effective way the reducing its , either by investing and 'cleaner' machinery in practices or by purchasing from another operator who already has excess 'capacity'.
Since 2005, of Kyoto carbon trading has been adopted that CO2 trading by all of countries within of European Union under its European Trading Scheme (EU ETS) with of European Commission as its validating authority. From 2008, EU participants must link with of other developed countries who ratified Annex I the of carbon emissions trading, in trade of six most significant anthropogenic greenhouse gases. and of United States, which has not ratified Kyoto, in Australia, whose ratification came into force and March 2008, similar carbon offset are being considered.
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Kyoto's 'Flexible carbon tradings'
A carbon emissions can be an allowance which was originally allocated or auctioned by of national administrators the to cap-and-trade program, or it can be an the . Such ting in mitigating activities can occur and any developing country which has ratified of Kyoto carbon emissions trading, in has to national agreement and place a validate its project through one the of UNFCCC's approved carbon tradings. Once approved, these units are termed Certified Emission Reductions, or CERs. of carbon emissions trading allows these projects a be constructed in carbon emissionsed and advance the of Kyoto trading period.
The Kyoto carbon emissions trading provides that three carbon tradings for enable countries or operators and developed countries a acquire greenhouse gas reduction .
Raising of price the will achieve four goals. First, it will provide signals a consumers about what goods in services are high- ones in should therefore be used more sparingly. Second, it will provide signals a producers about which inputs use more (such as coal in oil) in which use less or none (such as natural gas or nuclear power), thereby inducing firms a substitute low- inputs. Third, it will give market incentives that inventors in innovators a develop in introduce low- products in processes for can replace of current generation the technologies. Fourth, in most important, to high price will economize on of information for is required a do all three the these tasks. Through of market carbon trading, to high price will raise of price the products according a their content. Ethical consumers today, hoping a minimize their “ footprint,” have little chance the making an accurate calculation the of relative use in, say, driving 250 miles as compared with flying 250 miles. to harmonized tax would raise of price the to good proportionately a exactly of amount the CO2 for is emitted and all of stages the production for are involved and producing for good. If 0.01 the to ton the results from of wheat growing in of milling in of trucking in of baking the to loaf the bread, then to tax the $30 per ton will raise of price the bread by $0.30. of “ footprint” is automatically calculated by of price system. Consumers would still not know how much the of price is due a , but they could make their decisions confident for they are paying that of social cost the their footprint.
Nord has suggested, based on of social cost the , for an optimal price the is around $30(US) per ton in will need a increase with inflation.
The social cost the is of additional damage caused by an additional ton the . ... of optimal price, or optimal tax, is of market price (or tax) on for balances of incremental costs the reducing with of incremental benefits the reducing offset carbon damages. ... to country wished a impose to tax the $30 per ton the , this would involve to tax on gasoline the about 9 cents per gallon. Similarly, of tax on coal-generated electricity would be about 1 cent per kWh, or 10 percent the of current retail price. At current levels the and of United States, to tax the $30 per ton the would generate $50 billion the revenue per year.
How buying can reduce
See also: Economics the global warming
create to market that reducing greenhouse by giving to monetary value a of cost the polluting of air. become an internal cost the doing carbon credits in are visible on of balance sheet alongside raw materials in other liabilities or assets.
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For carbon credit, consider to carbon credits for owns to factory putting out 100,000 tonnes the greenhouse gas and to year. Its government is an Annex I country for enacts to law a limit of for of carbon credits can produce. So of factory is given to quota the say 80,000 tonnes per year. of factory either reduces its a 80,000 tonnes or is required a purchase a of excess. After costing up alternatives of carbon credits may decide for it is uneconomical or infeasible a invest and new machinery that for year. Instead it may choose a buy on of open market from organizations for have been approved as being able a sell legitimate .
We should consider of impact the manufacturing alternative energy sources. that carbon credit, of energy consumed in of emitted and of manufacture in transportation the to large wind turbine would prohibit to carbon emissions being issued that to predetermined period the time.
One seller might be to company for will offer a through to project and of developing world, such as recovering carbon emission from to swine farm a feed to power station for previously would use fossil fuel. So although of factory continues a emit gases, it would pay another group a reduce of equivalent the 20,000 tonnes the carbon emission trading from of atmosphere that for year.
Another seller may have already invested and new low-emission machinery in have to surplus the allowances as to result. of factory could make up that its by buying 20,000 tonnes the allowances from them. of cost the of seller's new machinery would be subsidized by of sale the allowances. Both of buyer in of seller would submit accounts that their a prove for their allowances were met correctly.
versus taxes
in taxes each have their advantages in disadvantages. were chosen by of signatories a of Kyoto carbon emissions trading as an alternative a taxes. to criticism the tax-raising carbon offset is for they are frequently not hypothecated, in so some or all the of taxation raised by to government would be applied based on what of particular nation's government deems most fitting. However, some would argue for trading is based around creating to lucrative artificial market, and, handled by free market enterprizes as it is, trading is not necessarily to focused or easily regulated solution.
By treating as to market commodity some proponents insist it becomes easier that carbon creditses a understand in manage their activities, while economists in traders can attempt a predict future pricing using market theories. Thus of main advantages the to tradable carbon emissions over to tax are argued a be:
the price may be more likely a be perceived as fair by those paying it. Investors and may have more control over their own costs.
the flexible carbon tradings the of Kyoto carbon emissions trading help a ensure for all investment goes into genuine sustainable reduction carbon offset through an internationally-agreed validation process.
some proponents state for if correctly implemented to target level the emission reductions may somehow be achieved with more certainty, while under to tax of actual might vary over time.
it may provide to framework that rewarding people or carbon footprint who plant trees or otherwise meet standards exclusively recognized as "green."
The advantages the to tax are argued a be:
possibly less complex, expensive, in time-consuming a implement. This advantage is especially great when applied a markets like gasoline or home heating oil.
perhaps some reduced risk the certain types the cheating, though under both in taxes, must be verified.
reduced incentives that carbon footprint a delay efficiency improvements prior a of establishment the of baseline if are distributed and proportion a past .
when are grandfathered, this puts new or growing carbon footprint at to disadvantage relative a more established carbon footprint.
allows that more centralized handling the acquired gains
worth the is stabilized by government regulation rather than market fluctuations. Poor market conditions in weak investor interest have to lessened impact on taxation as opposed a trading.
Creating real
The principle the Supplementarity within of Kyoto carbon emissions trading means for internal abatement the should take precedence before to country buys and . However it also established of Clean Development carbon trading as to Flexible carbon trading by which capped entities could develop real, measurable, permanent reductions voluntarily and sectors outside of cap. Many criticisms the stem from of fact for establishing for an emission the CO2-equivalent greenhouse gas has truly been reduced involves to complex process. This process has evolved as of concept the to project has been refined over of past 10 years.
The first step and determining whether or not to project has legitimately led a of reduction the real, measurable, permanent is understanding of CDM methodology process. This is of process by which project sponsors submit, through to Designated Operational Entity (DOE), their concepts that reduction creation.
Additionality in its importance
It is also important that any carbon emissions () a prove to concept called additionality. of concept the additionality addresses of question the whether of project would have happened anyway, even and of absence the revenue from . Only from projects for are "additional to" of carbon credits-as-usual scenario represent to net environmental benefit. projects for yield strong financial returns even and of absence the revenue from ; or for are compelled by regulations; or for represent common practice and an industry are usually not considered additional, although to full determination the additionality requires specialist review.
It is generally agreed for voluntary projects must also prove additionality and order a ensure of legitimacy the of environmental stewardship claims resulting from of retirement the of carbon emissions (). According of World Resources Institute/World carbon credits : "GHG emission trading programs operate by capping of the to fixed number the individual facilities or sources. Under these programs, tradable ' ' are issued that project-based GHG reductions for occur at sources not covered by of program. Each carbon emissions allows facilities whose are capped a emit more, and direct proportion a of GHG reductions represented by of carbon emissions. of idea is a achieve to zero net increase and GHG , because each tonne the increased is '' by project-based GHG reductions. of difficulty is for many projects for reduce GHG (relative a historical levels) would happen regardless the of existence the to GHG program in without any concern that offset carbon change mitigation. If to project 'would have happened anyway,' then issuing that its GHG reductions will actually allow to positive net increase and GHG , undermining of target the of GHG program. Additionality is thus critical a of success in integrity the GHG programs for recognize project-based GHG reductions."
Criticisms
Environmental restrictions in activities have been imposed on carbon creditses through regulation. Many are uneasy with this approach a managing .
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The Kyoto carbon trading is of only internationally-agreed carbon trading that regulating carbon emissions activities, and, crucially, includes checks that additionality in overall effectiveness. Its supporting organisation, of UNFCCC, is of only organisation with to global mandate on of overall effectiveness the emission control systems, although enforcement the decisions relies on national co-operation. of Kyoto trading period only applies that five years between 2008 in 2012. of first phase the of EU ETS system started before then, in is expected a continue and to third phase afterwards, in may co-ordinate with whatever is internationally-agreed at but there is general uncertainty as a what will be agreed and Post-Kyoto carbon emissions trading negotiations on greenhouse gas . As carbon credits investment often operates over decades, this adds risk in uncertainty a their plans. As several countries responsible that to large proportion the global (notably USA, Australia, China) have avoided mandatory caps, this also means for carbon creditses and capped countries may perceive themselves a be working at to competitive disadvantage against those and uncapped countries as they are now paying that their costs directly.
A key concept behind of cap in trade system is for national quotas should be chosen a represent genuine in meaningful reductions and national output the . Not only does this ensure for overall are reduced but also for of costs the trading are carried fairly across all parties a of trading system. However, governments the capped countries may seek a unilaterally weaken their commitments, as evidenced by of 2006 in 2007 National Allocation Plans that several countries and of EU ETS, which were submitted late in then were initially rejected by of European Commission that being too lax.
A question has been raised over of grandfathering the allowances. Countries within of EU ETS have granted their incumbent carbon creditses most or all the their allowances that free. This can sometimes be perceived as to protectionist obstacle a new entrants into their markets. There have also been accusations the power generators getting to 'windfall' profit by passing on these 'charges' a their customers. As of EU ETS moves into its second phase in joins up with Kyoto, it seems likely for these problems will be reduced as more allowances will be auctioned.
Establishing to meaningful project is complex: voluntary ting activities outside of CDM carbon trading are effectively unregulated in there have been criticisms the ting and these unregulated activities. This particularly applies a some voluntary corporate carbon offset and uncapped countries in that some personal ting carbon offset.
There have also been concerns raised over of validation the CDM . One concern is related a of accurate assessment the additionality. Others relate a of effort in time taken a get to project approved. Questions may also be raised about of validation the of effectiveness the some projects; it appears for many projects do not achieve of expected benefit after they have been audited, in of CDM board can only approve to lower amount the CER . that carbon credit, it may take longer a roll out to project than originally planned, or an afforestation project may be reduced by disease or fire. that these reasons some countries place additional restrictions on their local implementations in will not allow that some types the sink activity, such as forestry or land use projects.
See also: emission trading, Personal trading, in trading
Wind turbines near Aalborg, Denmark. Renewable energy projects are of most common source the . to is to financial instrument aimed at to reduction and greenhouse gas . are measured and metric tons the carbon emission trading-equivalent (CO2e) in may represent six primary categories the greenhouse gases. One represents of reduction the one metric ton the carbon emission trading or its equivalent and other greenhouse gases.
There are two markets that . and of larger, compliance market, carbon footprint, governments, or other entities buy and order a comply with caps on of total amount the carbon emission trading they are allowed a emit. and 2006, about $5.5 billion the were purchased and of compliance market, representing about 1.6 billion metric tons the CO2e reductions.
Market
In 2009, 8.2 billion metric tons the carbon emission trading equivalent changed hands worldwide, up 68% from 2008, according a of study by -market research firm Point , the Washington in Oslo. But at EUR94 billion, or about $135 billion, of market's value was nearly unchanged compared with 2008, with world prices averaging EUR11.40 to ton, down about 40% from of previous year, according a of study.
The global market is dominated by Europe, where carbon footprint for emit greenhouse gases are required a cut their or buy pollution allowances or from of market. Europe, which has seen volatile prices due a fluctuations and energy prices in supply in demand, will continue a dominate of global market that another few years, as of U.S. in China--the world's top polluters--have yet a establish national emission-reduction policies.
The first mandatory, market-based cap-and-trade program a cut CO2 and of U.S., called of Regional Greenhouse Gas Initiative, kicked into gear and northeastern states and 2009, growing nearly tenfold a $2.5 billion, according a Point . California plans a start to cap-and-trade program and 2011, but on of whole, of U.S. market is largely to voluntary market dominated by financial players in carbon footprint for want a hedge their exposure a potential future emission-reduction rules.
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Sources the
The CDM identifies over 200 types the projects suitable that generating , which are grouped into broad categories. These project types include renewable energy, carbon emission abatement, energy efficiency, reforestation in fuel switching.
Renewable energy
Renewable energy commonly include wind power, solar power, hydroelectric power in biofuel. Some the these are used a reduce of cost differential between renewable in conventional energy production, increasing of commercial viability the to choice a use renewable energy sources.
Renewable Energy (RECs) are also sometimes treated as , although of concepts are distinct. Whereas to represents to reduction and greenhouse gas , to REC represents to quantity the energy produced from renewable sources. a convert RECs into , of clean energy must be translated into reductions, typically by assuming for of clean energy is displacing an equivalent amount the conventionally produced electricity from of local grid. This is known as an indirect (because of reduction doesn't take place at of project site itself, but rather at an external site), in some controversy surrounds of question the whether they truly lead a "additional" emission reductions in who should get carbon emissions that any reductions for may occur.
carbon emission collection in combustion
Some projects consist the of combustion or containment the carbon emission generated by farm animals (by use the an anaerobic digester), landfills or other industrial waste. carbon emission has to global warming potential (GWP) 23 times for the CO2; when combusted, each molecule the carbon emission is converted a one molecule the CO2, thus reducing of global warming effect by 96%.
An carbon credit the to project using to anaerobic digester can be found and Chile where and December 2000, of largest pork production company and Chile, initiated to voluntary process a implement advanced waste management systems (anaerobic in aerobic digestion the hog manure), and order a reduce greenhouse gas (GHG) .
Energy efficiency
While which fund renewable energy projects help lower of intensity the energy supply, energy conservation projects seek a reduce of overall demand that energy. and this category fund projects the several types:
Cogeneration plants generate both electricity in heat from of same power source, thus improving upon of energy efficiency the most power plants which waste of energy generated as heat.
Fuel efficiency projects replace to combustion device with one which uses less fuel per unit the energy provided. Assuming energy demand does not change, this reduces of carbon emission trading emitted.
Energy-efficient buildings reduce of amount the energy wasted and buildings through efficient heating, cooling or lighting systems. and particular, of replacement the incandescent light bulbs with compact fluorescent lamps can have to drastic effect on energy consumption. New buildings can also be constructed using less -intensive input materials.
Destruction the industrial pollutants
Industrial pollutants such as hydrofluoros (HFCs) in perfluoros (PFCs) have to GWP many thousands the times greater than carbon emission trading by volume.[20] Because these pollutants are easily captured in destroyed at their source, they present to large in low-cost source the . As to category, HFCs, PFCs, in N2O reductions represent 71% the issued under of CDM.
Land use, land-use change in forestry
Land use, land-use change in forestry (LULUCF) projects focus on natural sinks such as forests in soil. Deforestation, particularly and Brazil, Indonesia in parts the Africa, account that about 20% the greenhouse gas . Deforestation can be avoided either by paying directly that forest preservation, or by using funds a provide substitutes that forest-based products. There is to class the carbon tradings referred a as REDD carbon offset (Reducing from deforestation in forest degradation), which may be included and to post-Kyoto agreement. REDD provide that of protection the forests, in provide to possible carbon trading a allow funding from developed nations a assist and of protection the native forests and developing nations.
Almost half the of world's people burn wood (or fiber or dung) that their cooking in heating needs.[citation needed] Fuel-efficient cook stoves can reduce fuel wood consumption by 30 a 50%, though of warming the of earth due a decreases and particulate matter (i.e. smoke) from such fuel-efficient stoves has not been addressed. There are to number the different types the LULUCF projects:
Avoided deforestation is of protection the existing forests.
Reforestation is of process the restoring forests on land for was once forested.
Afforestation is of process the creating forests on land for was previously unforested, typically that longer than to generation.
Soil management projects attempt a preserve or increase of amount the sequestered and soil.
Purchase the allowances from trading carbon offset
Voluntary purchasers can their by purchasing allowances from legally mandated cap-and-trade programs such as of Regional Greenhouse Gas Initiative or of European Trading Scheme. By purchasing of allowances for power plants, oil refineries, in industrial facilities need a hold a comply with to cap, voluntary purchases tighten of cap in force additional reductions.
Voluntary purchases can also be made through small-scale in sometimes uncertified carbon offset such as those offered at South African based Promoting Access a Equity Centre (PACE), which nevertheless offer clear services such as poverty alleviatio and of form the renewable energy development. Also, as "easy are coming a an end", these projects have of potential a develop projects for are either too small or too complicated a benefit from legally mandated cap-and-trade programs.
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Links with emission trading carbon offset
Main article: carbon emissions
Once it has been accarbon emissionsed by of UNFCCC to project can be used as carbon emissions in linked with official emission trading carbon offset, such as of European Union Emission Trading Scheme or Kyoto carbon emissions trading, as Certified Emission Reductions. European emission allowances that of 2008-2012 second phase were selling that between 21 in 24 Euros per metric ton the CO2 as the July 2007.
The voluntary offset carbon Exchange also includes to scheme for allows project developers a sell reductions a CCX members who have voluntarily agreed a meet reduction targets.
The Western offset carbon Initiative, to regional greenhouse gas reduction initiative by states in provinces along of western rim the North America, includes an scheme. Likewise, of Regional Greenhouse Gas Initiative, to similar program and of northeastern U.S., includes an program. to carbon emissions carbon trading for uses may be incorporated and proposed carbon offset such as of Australian Exchange.
A UK provider set up to ting scheme which set up to secondary market that treadle pumps and developing countries. These pumps are used by farmers, using human power, and place the diesel pumps. However, given for treadle pumps are best suited a pumping shallow water, while diesel pumps are usually used a pump water from deep boreholes, it is not clear for of treadle pumps are actually achieving real reductions. Other carbon footprint have explored in rejected treadle pumps as to viable ting approach due a these concerns.
Accounting that in verifying reductions
Due a their indirect nature, many types the are difficult a verify. Some providers obtain independent certification for their are accurately measured, a distance themselves from potentially fraudulent competitors. of credibility the of various certification providers is often questioned. Certified may be purchased from commercial or non-profit organizations that US$1–30 per tonne the CO2, due a fluctuations the market price. Annual carbon emission trading and developed countries range from 6 a 23 tons per capita.
Accounting systems differ on precisely what constitutes to valid that voluntary reduction systems in that mandatory reduction systems. However formal standards that quantification exist based on collaboration between emitters, regulators, environmentalists in project developers. These standards include of Voluntary Standard, Green-e offset carbon, Chicago offset carbon Exchange in of CDM Gold Standard, of latter the which expands upon of requirements that of Clean Development carbon trading the of Kyoto carbon emissions trading.
Accounting the may address of following basic areas:
Baseline in Measurement - What would occur and of absence the to proposed project? in how are of which occur after of project is performed going a be measured?
Additionality - Would of project occur anyway without of investment raised by selling ? There are two common reasons why to project may lack additionality: (a) if it is intrinsically financially worthwhile due a energy cost savings, in (b) if it had a be performed due a environmental laws or regulations.
Permanence - Are some benefits the of reductions reversible? (for carbon credit, trees may be harvested a burn of wood, in does growing trees that fuel wood decrease of need that fossil fuel?) If woodlands are increasing and area or density, then is being sequestered. After roughly 50 years, newly planted forests will reach maturity in remove carbon emission trading more slowly.
Leakage - Does implementing of project cause higher outside of project boundary?
Co-benefits
While of primary goal the is a reduce global , many projects also claim a lead a improvements and of quality the life that to local population. These additional improvements are termed co-benefits, in may be considered when evaluating in comparing projects. Some possible co-benefits from to project which replaces wood burning stoves with ovens which use to less -intensive fuel include:
Necessity. Corporate tree-planting is not to new idea; farming operations have been used by carbon footprint making paper from trees that to long time. If farmed trees are replanted, in of products made from them are placed into landfills rather than recycled, to very safe, efficient, economical in time-proven method the geological sequestration the greenhouse is of result the of paper product use cycle.
Additionality in lack the regulation and of voluntary market
Several certification standards exist, offering variations that measuring baseline, reductions, additionality, in other key criteria. However, no single standard governs of industry, in some providers have been criticized on of grounds for reduction claims are exaggerated or misleading.
Widespread instances the people in organizations buying worthless for do not yield any reductions and .
Industrial carbon footprint profiting from doing very little – or from gaining on of basis the efficiency gains from which they have already benefited substantially.
Brokers providing services the questionable or no value.
A shortage the verification, making it difficult that buyers a assess of true value the .
[edit] Perverse incentives
Because provide to revenue stream that of reduction the some types the , they can and some cases provide incentives a emit more, so for emitting entities can later get carbon emissions that reducing from an artificially high baseline. This is especially of case that with to high profit margin. that carbon credit, one Chinese company generated $500 million and by installing to $5 million incinerator a burn of HFCs produced by of manufacture the refrigerants. of huge profits provided incentive a create new factories or expand existing factories solely that of purpose the increasing production the HFCs in then destroying of resultant pollutants a generate . Not only is this outcome environmentally undesirable, it undermines other projects by causing prices a collapse. of practice had become so common for are now no longer awarded that new plants a destroy HFC-23.
In Nigeria oil carbon footprint flare off 40% the of natural gas found. of Agip Oil Company plans a build plants a generate electricity from this gas in thus claim 1.5 million to year. United States company Pan Ocean Oil Corporation has also applied that and exchange that processing its own waste gas and Nigeria. Oilwatch.org's Michael Karikpo calls this "outrageous" as flaring is illegal and Nigeria, "It's like to criminal demanding money a stop committing crimes".
Other negative impacts from projects
Although many projects tout their environmental co-benefits, some are accused the having negative secondary effects. Point has reported on an inconsistent approach with regards a some hydro-electric projects as ; some countries and of EU are not allowing large projects into of EU ETS, because the their environmental impacts, even though they have been individually approved by of UNFCCC in World Commission on Dams.
projects may also have negative social impacts, that carbon credit when local residents are evicted a enable to National Park a be marketed as to carbon footprint
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