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It didnt take long. On July 5, just nine days after the House passed the cap and trade bill (also known as Waxman-Markey) Chinese officials made it clear they are opposed to any carbon taxation scheme. Yao Jian, the spokesman for Chinas Commerce Ministry, said the bill violates basic principles of the World Trade Organization and said that the ruse of environmental protection was being used to protect trade and that it could induce a trade war.
LONDON, Nov 3 (Reuters) – French utility GDF Suez said on Monday it has bought around 1.6 million certified emission reduction credits (CERs) CEREc1 from two projects in China.
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TOKYO, Oct 31 (Reuters) – Japan has approved two reafforestation projects in China and Moldova to provide Japanese fund suppliers U.N. carbon offsets to help them reduce greenhouse gas emissions.
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To help in the fight against global warming and reduce greenhouse gas emissions, Ctrip.com has announced that it has launched a carbon offset program in China.
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The clean development mechanism (CDM) should continue to be implemented even after 2012, when the Kyoto Protocol expires, says a white paper on China’s policies on climate change.
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BEIJING, Oct. 30 (Xinhua) — Developing the Low Carbon Economy (LCE), a strategic option to cope with global warming, should follow a step-by-step pattern in accordance with a country’s situation, China’s Vice Environment Minister Zhou Jian said here Thursday.
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A month after two environment and energy exchanges opened virtually simultaneously in Beijing and Shanghai in August, an environmental trading platform was established in Tianjin municipality, one of most vigorously developing cities in China.
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China is famously reticent with its greenhouse gas emissions data. But a new report penned by researchers at the says China’s greenhouse gas pollution could more than double in two decades.
Beijing. October 22. INTERFAX-CHINA – Clean Development Mechanism (CDM) projects offer China a way to reach its ambitious goals for a more ecologically friendly energy industry, but the projects are suffering from bottlenecks in the international approval process, government and project officials said at a recent industry forum.
By Hou jie
Available Only to InterFax Subscribers
BEIJING (Reuters) – The Beijing government will give companies who stop highly polluting production up to 2.3 million yuan ($336,500) as a bonus, state media said Sunday, in the latest attempt to clear the capital’s notoriously poor air.
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Reuters today revealed through an undisclosed source that the British firm has been successful in raising $280 million to support carbon offset projects on a global scale. Dubai-based contributed around 25% of the fund whereas most of the remaining came from US endowment funds and pension funds.
SCC previously tried to raise around $300 million in the first quarter of 2008 but the efforts werent really successful due to a declining economy. The current deal, however, is a new sign of hope for the global carbon offsets market.
If you transport a thousand tonnes of plastic bottles from industries to ports by road, load them onto gigantic ships, take those ships 10,000 miles away from the UK to China, unload all the waste bottles, and move them to recycling centers, thats going to generate lots of carbon emissions. Nevertheless, a recent UK-based study shows rather than sending the waste to landfills in the UK!
mentions in the report that recycling is far better for the environment than landfilling, even if you ship waste from one end of the world to another. When used paper is taken from Britain to China for recycling, it saves around two-third emissions that would have otherwise resulted from landfilling. And when it comes to plastic bottles, savings are even greater.
In addition to all this, since most ships go empty from the UK back to China because of the imbalance of trade, they would release CO2 whether you export waste or not. WRAP estimates that every tonne of waste recycled this way results in emissions reductions of around 1300-1600 kg of CO2.
Recent analysis by reveals most of the easy carbon credit projects are already being availed and chances are high that such low-price credits will diminish sharply in future. Afterwards, greater efforts and higher investments would have to be put in to gain carbon credits.
Up till now, most cheap credits have come mainly from elimination of two kinds of waste gases, and . These two gases have a greater impact on global warming as compared to carbon dioxide. Due to this larger scale of emissions reductions, low-investment projects have resulted in cheaper carbon credits. However, since , future projects would have to earn credits through renewable energy and energy efficiency. This may result in at least a fivefold increase in project costs, which would eventually raise the price of carbon.
closed a big, big carbon offsets deal on Tuesday, that brought the company a profit of $2.6 million. The company refrained from mentioning the buyer of these Certified Emissions Reductions (CERs) but confirmed the transaction took place at an average price of $28.39 per tonne. Camco enjoyed a 3.3% increase in its share price after the news broke out.
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