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Tokyo, June 29, 2009 – (JCN Newswire) – Ube Industries, Ltd. (UBE) and Mitsubishi Corporation (MC) have been jointly developing a project to reduce nitrous oxide (N2O) in Thailand. Approvals from the Japanese and Thai governments were received on August 2, 2007 and February 27, 2008 respectively. After more than two years since talks began on commercializing the project, it was finally registered by the United Nations (UN) on Jun 16, 2009.
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MEXICO CITY — Mexican President Felipe Calderon made a push Monday for his proposal for a $10 billion “green fund” as a more efficient way to fight climate change than carbon credits.
Calderon spoke at the opening of the latest session of the Major Economies Forum on Energy and Climate, which brings together representatives of 19 countries and the European Union that together account for 80 percent of the world’s greenhouse gas emissions.
“The current carbon credits would not have to disappear, but they are not an efficient mechanism,” Calderon said, noting that the credits market “has to match an industry that wants to pollute with another” that has projects to compensate or reduce gas emissions.
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U.S.-based oil and natural gas companies invested $58.4 billion from 2000 through 2008 in technologies to reduce greenhouse gas emissions, according to a new study by T2 and Associates and the Center for Energy Economics at the University of Texas. This was more than was invested by either the federal government or by all other U.S.-based private industries combined. It was 44 percent of the total invested by all U.S.-based private industry and the federal government.
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Issues surrounding biomass-related greenhouse gas reduction opportunities and cap and trade systems were the topic of discussion during the second general session at the 2009 BIOMASS Conference & Expo in Portland, Ore.
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LOS ANGELES: Democrats in Congress worked on Thursday to win over US lawmakers skeptical of climate change legislation, while climate leader California took another major step with low-carbon rules on fuels that could be copied nationwide.
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As policymakers debate Wall Street reform, there is little attention being paid to whether new regulations will be adequate to govern carbon trading and the carbon derivatives markets, which many experts believe could become larger than credit derivatives markets.
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The Executive Board (EB) of the United Nations Clean Development Mechanism (CDM) announced tighter standards and streamlined procedures for the accreditation of third-party certifiers at a recent board meeting in Bonn, Germany, according to Energy Risk.
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