The UK Emissions Trading Scheme was a voluntary emissions trading system created as a pilot prior to the mandatory European Union Emissions Trading Scheme. It ran from 2002 and closed in 2006.
At the time, the scheme was a novel economic approach, being the first multi-industry carbon trading system in the world. (Denmark ran a pilot greenhouse gas trading scheme between 2001 and 2003 but this only involved eight electricity companies). It took note of the emerging international consensus on the benefits of carbon trading that were being proposed in the mandatory Kyoto Protocol, which had not been ratified at that time, and allowed government and corporate early movers and to gain experience in the auction process and the trading system that the later schemes have entailed. It ran in parallel to a tax on energy use, the Climate Change Levy, introduced in April 2001, but companies could get a discount on the tax if they elected to make reductions through participation in the trading scheme.
The voluntary trading scheme recruited 34 participants from UK industries and organisations who promised to make reductions in their carbon emissions. In return they received a share of a £215 million "incentive fund" from the Department for Environment, Food and Rural Affairs (DEFRA). Each agreed to hold sufficient allowances to cover its actual emissions for that year, and participate in a cap and trade system, with an annually-reducing cap. Each participant could then decide to take action to manage its emissions to exactly meet its target, or reduce its actual emissions below its target (thereby releasing allowances that it could sell on, or save for use in future years), or buy allowances from other participants to cover any excess.
From March 2002, DEFRA ran an auction of emission allowances to perform allocations to participants, until the scheme closed in 2006, after the start of the mandatory EU scheme.
Conclusions
The UK's National Audit Office and DEFRA's consultants ran reviews of the system in order to establish its basis and drew lessons from it.
They concluded that the scheme did achieve some emission reductions from the participants, although more could have been achieved had targets been more demanding.
* The 34 companies that participated took advantage of the incentive fund to pay for reduction measures, and in practice most were incentivised to make additional efforts to further cut emissions beyond their targets. They gained experience in pricing strategies and were prepared in advance of the start of the mandatory scheme.
* The companies that provided emissions trading brokerage and verification were able to establish their new businesses in the UK, and have since translated that first mover advantage to establish themselves on the European and wider international trading arena.
* DEFRA discovered the issues and practicalities of negotiating and setting baselines and running an auction process.
* the lessons learned also influenced the EU's confidence to proceed in the EU ETS.
From http://en.wikipedia.org/
Saturday, December 5, 2009
Kompetisi Web/blog Kompas MuDA 2009
Persyaratan:
* Web/blog pribadi pelajar SLTA - Mahasiswa (15 - 22 th)
* Web/blog institusi SLTA
* Web/blog yang ditujukan untuk komunitas anak muda
* Untuk perseorangan atau tim, boleh mengirimkan alamat web/blog lebih dari satu.
* Bisa menggunakan top level domain sendiri atau subdomain atau memanfaatkan fasilitas blog gratisan
*Di halaman web/blog, harus menyertakan kata kunci: Kompetisi Website Kompas MuDA - KFC, yang bisa terbaca secara mudah. Lokasi penempatan kata kunci itu bebas.
*Penilaian meliputi kualitas tulisan, desain, tingkat popularitas dan peringkat web/blog kamu di Google. Juri akan menggunakan mesin pencari Google.co.id untuk mengecek peringkat web kamu dengan kata kunci: Kompetisi Website Kompas MuDA - KFC.
*Mencantumkan tautan balik (backlink) ke www.mudaers.com (sebuah link ketika diklik mengarah ke www.mudaers.com)
*Boleh memanfaatkan web/blog lama yang sudah ada atau bisa membuat web/blog baru.
*Web/blog yang dilombakan minimal memuat satu halaman tulisan (minimal 3.000 karakter termasuk spasi) dengan tema: Bangga Indonesia.
*Tulisan orisinal, tidak boleh copy-paste karya orang lain.
*Kirimkan alamat web/blog kamu ke email lombaweb@mudaers.com This e-mail address is being protected from spambots. You need JavaScript enabled to view it . Di email itu, cantumkan nama kamu, tempat/tgl lahir, alamat, nama sekolah/kuliah, nomor telepon, dan scan (bisa juga difoto) KTP/SIM/kartu pelajar/kartu mahasiswa. Subyek email adalah berupa alamat web/blog kamu.
*Link web/blog diterima panitia paling lambat 17 Februari 2010.
Hadiah Kompetisi:
Pemenang I : Uang Tunai Rp 3.000.000 Plus Hadiah Menarik
Pemenang II: Uang Tunai Rp 2.000.000 Plus Hadiah Menarik
Pemenang III: Uang Tunai Rp 1.000.000 Plus Hadiah Menarik
Sumber: www.mudaers.com
Regional Greenhouse Gas Initiative
Regional Greenhouse Gas Initiative (RGGI, or ReGGIe) is a regional initiative by states and provinces in the Northeastern United States region to reduce greenhouse gas emissions. The RGGI is designing a cap and trade program for greenhouse gas emissions from power plants.
Ten states currently participate in the initiative. Pennsylvania, which is a major coal producer and manufacturing state, only participates as an observer.
Current membership
* Participating states: Maine, New Hampshire, Vermont, Connecticut, New York, New Jersey, Delaware, Massachusetts, Maryland, Rhode Island
* Observer states and regions: Pennsylvania, District of Columbia, Québec, New Brunswick, Ontario.
Implementation
RGGI is implementing a cap and trade system for CO2 emissions from power plants in the member states. Emission permit auctioning began in September 2008, and the first three-year compliance period began on January 1, 2009. Proceeds will be used to promote energy conservation and renewable energy. The system affects fossil fuel power plants with 25 MW or greater generating capacity ("compliance entities").
Climate Change Action Plan
A parallel effort to reduce emissions in the Northeast is the New England Governors/Eastern Canadian Premiers Climate Change Action Plan, which calls for a reduction in greenhouse gas emissions to 10% below 1990 levels by 2020. For comparison: the EU aims to reduce emissions to 20% below 1990 levels by 2020.
In addition, the Northeast States for Coordinated Air Use Management (NESCAUM) is building a Regional Greenhouse Gas Registry (RGGR) to help track emissions in the region. This effort is similar to that of the California Climate Action Registry.
Carbon auction
The Memorandum of Understanding commits states to invest 25% of revenue from carbon credits to energy efficiency and strategic energy schemes. This revenue is received by auctioning credits from the state budget to compliance entities. Since signing the MOU in 2005, all ten states have committed in their Model Rule to the sale of the vast majority of the state's carbon budget. This overcomes the problem of opportunity cost associated with the EU ETS, which led to windfall profits for generators.
RGGI sold carbon credits on Thursday September 25, 2008 in the first of a series of quarterly online auctions. 12,565,387 allowances were sold for $3.07 per ton of carbon dioxide, bringing in a total of $38,575,738.09. It was the largest carbon auction at the time. The second auction was held December 17, 2008. 31,505,898 allowances were sold for $3.38 per allowance. In the third auction, held on March 18, 2009, 31,513,765 (2009) allowances were sold for $3.51 per allowance, and 2,175,513 (2012) allowances were sold for $3.05 per allowance. The June 17 saw 30.8 million allowances sold for $3.23 per allowance, and 2.17 million 2012 allowances sold for $2.06.
History
In 2003 George Pataki, then Governor of New York, sent a letter to the governors of Northeastern and Mid-Atlantic states seeking "to develop a strategy that will help the region lead the nation in the effort to fight global climate change."
In August 2005, the RGGI staff working group proposed an emissions reduction program that would start in 2009 and lead to a stabilization of emissions at current levels (an average of 2002-2004 levels) by 2015. This would be followed by a 10% reduction in emissions between 2015 and 2020. The proposal would also allow participants to purchase offsets to meet 50% of their emission reductions.
As of December 20, 2005, seven Northeastern US states were involved in the Regional Greenhouse Gas Initiative. Massachusetts and Rhode Island dropped out at the last minute; Massachusetts Governor Mitt Romney objected to a lack of opt-out provisions if energy prices exceeded a certain threshold.. He went on to attack Senator John McCain for his positive position on cap-and-trade during the 2008 presidential election. The seven states still involved (Delaware, New Jersey, New York, Connecticut, Vermont, New Hampshire and Maine) signed a "Memorandum of Understanding" committing themselves to move forward with the program. Special provisions were made in that document for Massachusetts and Rhode Island to join the effort at any time prior to January 1, 2008.
Massachusetts rejoined on January 18, 2007, on the order of newly elected Governor Deval Patrick.
Rhode Island rejoined on January 30, 2007. Governor Donald L. Carcieri used his State of the State address to make the announcement. While he reiterated his concern about the impact on energy costs, he said that "I have been assured that those costs can be offset by credits we will receive from other states."
On April 20, 2007, Maryland Governor Martin O’Malley signed an agreement to join, making Maryland the 10th state to join the initiative.
New Hampshire joined on June 12, 2008, when Gov. John Lynch signed a law implementing RGGI.
From http://en.wikipedia.org/
Ten states currently participate in the initiative. Pennsylvania, which is a major coal producer and manufacturing state, only participates as an observer.
Current membership
* Participating states: Maine, New Hampshire, Vermont, Connecticut, New York, New Jersey, Delaware, Massachusetts, Maryland, Rhode Island
* Observer states and regions: Pennsylvania, District of Columbia, Québec, New Brunswick, Ontario.
Implementation
RGGI is implementing a cap and trade system for CO2 emissions from power plants in the member states. Emission permit auctioning began in September 2008, and the first three-year compliance period began on January 1, 2009. Proceeds will be used to promote energy conservation and renewable energy. The system affects fossil fuel power plants with 25 MW or greater generating capacity ("compliance entities").
Climate Change Action Plan
A parallel effort to reduce emissions in the Northeast is the New England Governors/Eastern Canadian Premiers Climate Change Action Plan, which calls for a reduction in greenhouse gas emissions to 10% below 1990 levels by 2020. For comparison: the EU aims to reduce emissions to 20% below 1990 levels by 2020.
In addition, the Northeast States for Coordinated Air Use Management (NESCAUM) is building a Regional Greenhouse Gas Registry (RGGR) to help track emissions in the region. This effort is similar to that of the California Climate Action Registry.
Carbon auction
The Memorandum of Understanding commits states to invest 25% of revenue from carbon credits to energy efficiency and strategic energy schemes. This revenue is received by auctioning credits from the state budget to compliance entities. Since signing the MOU in 2005, all ten states have committed in their Model Rule to the sale of the vast majority of the state's carbon budget. This overcomes the problem of opportunity cost associated with the EU ETS, which led to windfall profits for generators.
RGGI sold carbon credits on Thursday September 25, 2008 in the first of a series of quarterly online auctions. 12,565,387 allowances were sold for $3.07 per ton of carbon dioxide, bringing in a total of $38,575,738.09. It was the largest carbon auction at the time. The second auction was held December 17, 2008. 31,505,898 allowances were sold for $3.38 per allowance. In the third auction, held on March 18, 2009, 31,513,765 (2009) allowances were sold for $3.51 per allowance, and 2,175,513 (2012) allowances were sold for $3.05 per allowance. The June 17 saw 30.8 million allowances sold for $3.23 per allowance, and 2.17 million 2012 allowances sold for $2.06.
History
In 2003 George Pataki, then Governor of New York, sent a letter to the governors of Northeastern and Mid-Atlantic states seeking "to develop a strategy that will help the region lead the nation in the effort to fight global climate change."
In August 2005, the RGGI staff working group proposed an emissions reduction program that would start in 2009 and lead to a stabilization of emissions at current levels (an average of 2002-2004 levels) by 2015. This would be followed by a 10% reduction in emissions between 2015 and 2020. The proposal would also allow participants to purchase offsets to meet 50% of their emission reductions.
As of December 20, 2005, seven Northeastern US states were involved in the Regional Greenhouse Gas Initiative. Massachusetts and Rhode Island dropped out at the last minute; Massachusetts Governor Mitt Romney objected to a lack of opt-out provisions if energy prices exceeded a certain threshold.. He went on to attack Senator John McCain for his positive position on cap-and-trade during the 2008 presidential election. The seven states still involved (Delaware, New Jersey, New York, Connecticut, Vermont, New Hampshire and Maine) signed a "Memorandum of Understanding" committing themselves to move forward with the program. Special provisions were made in that document for Massachusetts and Rhode Island to join the effort at any time prior to January 1, 2008.
Massachusetts rejoined on January 18, 2007, on the order of newly elected Governor Deval Patrick.
Rhode Island rejoined on January 30, 2007. Governor Donald L. Carcieri used his State of the State address to make the announcement. While he reiterated his concern about the impact on energy costs, he said that "I have been assured that those costs can be offset by credits we will receive from other states."
On April 20, 2007, Maryland Governor Martin O’Malley signed an agreement to join, making Maryland the 10th state to join the initiative.
New Hampshire joined on June 12, 2008, when Gov. John Lynch signed a law implementing RGGI.
From http://en.wikipedia.org/
Friday, December 4, 2009
New Zealand Emissions Trading Scheme
The New Zealand Emissions Trading Scheme (NZ ETS) is a largely proposed all-sectors all-gases emissions trading scheme established in September 2008 by the Fifth Labour Government of New Zealand. Most of the provisions of the NZ ETS have not yet taken effect as the NZ ETS includes delayed entry dates. The election of the National Government in November 2008 has further delayed the effect of the NZ ETS.
Only the forestry sector has entered the NZ ETS. Carbon credits have been earned by forestry for carbon sequestration and have been sold internationally. In September 2009, South Island forestry company Ernslaw One sold about 500,000 carbon credits (valued at more than $NZ10 million) to the Norwegian Government.
From http://en.wikipedia.org/
Only the forestry sector has entered the NZ ETS. Carbon credits have been earned by forestry for carbon sequestration and have been sold internationally. In September 2009, South Island forestry company Ernslaw One sold about 500,000 carbon credits (valued at more than $NZ10 million) to the Norwegian Government.
From http://en.wikipedia.org/
Thursday, December 3, 2009
Climate Stewardship Acts
The Climate Stewardship Acts are a series of three acts introduced to the United States Senate by Senator John McCain (R-AZ) and Senator Joseph Lieberman (ID-CT), with a number of other co-sponsors. Their aim was to introduce a mandatory cap and trade system for greenhouse gases, as a response to the threat of anthropogenic climate change. All three acts failed to gain enough votes to pass through the senate.
2003 Climate Stewardship Act
The first Act (S. 139, H.R. 4067) was defeated in the U.S. Senate by 55 votes to 43.
If passed, it would have capped 2010 CO2 emissions at the 2000 level. Residential and agricultural areas, as well as other areas deemed "not feasible", would be exempt. As such, approximately 85% of the United State's emissions would have been covered for the year 2000. The bill would have also established a scholarship at the National Academy of Sciences for those studying climatology.
2005 Climate Stewardship and Innovation Act
Under a slightly modified title, but with similar provisions, the Act (S. 1151) was reintroduced to a new Congress. The Act now called for the federal government to play a lead role in researching and commercialising new energy technologies, and particularly nuclear plant designs. The bill was defeated 38 Yea to 60 Nay.
2007 Climate Stewardship and Innovation Act
The substantional strengthening of this Act (S. 280) involved the provision for the emissions cap, immobile in previous Acts, to be gradually reduced, following the theory of contraction and convergence. It was co-sponsored by eleven senators and also received endorsements from the National Wildlife Federation, Environmental Defense, and the Pew Center on Global Climate Change.
Reductions in emissions under the Act would be to 2004 levels by 2012, 1990 levels by 2020, and 60% below 1990 by 2050. The 60% target is the level posited for the forthcoming UK Climate Change Bill.
From http://en.wikipedia.org/
2003 Climate Stewardship Act
The first Act (S. 139, H.R. 4067) was defeated in the U.S. Senate by 55 votes to 43.
If passed, it would have capped 2010 CO2 emissions at the 2000 level. Residential and agricultural areas, as well as other areas deemed "not feasible", would be exempt. As such, approximately 85% of the United State's emissions would have been covered for the year 2000. The bill would have also established a scholarship at the National Academy of Sciences for those studying climatology.
2005 Climate Stewardship and Innovation Act
Under a slightly modified title, but with similar provisions, the Act (S. 1151) was reintroduced to a new Congress. The Act now called for the federal government to play a lead role in researching and commercialising new energy technologies, and particularly nuclear plant designs. The bill was defeated 38 Yea to 60 Nay.
2007 Climate Stewardship and Innovation Act
The substantional strengthening of this Act (S. 280) involved the provision for the emissions cap, immobile in previous Acts, to be gradually reduced, following the theory of contraction and convergence. It was co-sponsored by eleven senators and also received endorsements from the National Wildlife Federation, Environmental Defense, and the Pew Center on Global Climate Change.
Reductions in emissions under the Act would be to 2004 levels by 2012, 1990 levels by 2020, and 60% below 1990 by 2050. The 60% target is the level posited for the forthcoming UK Climate Change Bill.
From http://en.wikipedia.org/
Tuesday, December 1, 2009
Climate change credit
The Climate Stewardship and Innovation Act
The Climate Stewardship and Innovation Act of 2005 (S.1151) was introduced jointly by US Senators John McCain (R-AZ) and Joseph I. Lieberman (D-CT). Beginning in 2010, The Climate Stewardship and Innovation Act would limit (to the amount emitted in the year 2000) the total greenhouse gases emitted by:
* U.S. electricity generation,
* Cars, busses, trains, and other forms of transportation,
* Industry
* Commerce
According to pewclimate.org, these affected sectors represented approximately 85% of the overall U.S. emissions in the year 2000. This bill also would provide for the trading of emission allowances and reductions as Climate Change Credits.
Climate Change Credit Corporation
Allocation of special Emission Permits by the Climate Change Corporation created by the Climate Stewardship and Innovation Act will provide funding for assistance for consumers and industry to fully comply with the act. Permits will be allocated to support the activities of a Climate Change Credit Corporation, a combination public and private agency that will oversee the cap and trade program, provide credit (Climate Change Credits) to participating entities for reductions in the total greenhouse gases made before 2012, and to facilitate transition for industries with competitiveness concerns and fewer options for efficient energy reduction technology. These credits are limited but can be used, bought, or sold.
From http://en.wikipedia.org/
The Climate Stewardship and Innovation Act of 2005 (S.1151) was introduced jointly by US Senators John McCain (R-AZ) and Joseph I. Lieberman (D-CT). Beginning in 2010, The Climate Stewardship and Innovation Act would limit (to the amount emitted in the year 2000) the total greenhouse gases emitted by:
* U.S. electricity generation,
* Cars, busses, trains, and other forms of transportation,
* Industry
* Commerce
According to pewclimate.org, these affected sectors represented approximately 85% of the overall U.S. emissions in the year 2000. This bill also would provide for the trading of emission allowances and reductions as Climate Change Credits.
Climate Change Credit Corporation
Allocation of special Emission Permits by the Climate Change Corporation created by the Climate Stewardship and Innovation Act will provide funding for assistance for consumers and industry to fully comply with the act. Permits will be allocated to support the activities of a Climate Change Credit Corporation, a combination public and private agency that will oversee the cap and trade program, provide credit (Climate Change Credits) to participating entities for reductions in the total greenhouse gases made before 2012, and to facilitate transition for industries with competitiveness concerns and fewer options for efficient energy reduction technology. These credits are limited but can be used, bought, or sold.
From http://en.wikipedia.org/
Monday, November 30, 2009
Chinese national carbon trading scheme
The Chinese national carbon trading scheme was announced in November 2008 by the national government to enforce a compulsory carbon trading scheme across the country's provinces as part of its strategy to create a "low carbon civilisation".
The scheme would allow provinces to earn money by investing in carbon capture systems in those regions that fail to invest in the technology.
From http://en.wikipedia.org/
The scheme would allow provinces to earn money by investing in carbon capture systems in those regions that fail to invest in the technology.
From http://en.wikipedia.org/
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