The global cost of disasters is growing: The economic burden of disasters is intensifying. While the direct costs of disasters averaged $70–80 billion a year between 1970 and 2000, between 2001 and 2020 these annual costs grew significantly to $180–200 billion. But the real cost is far higher. Disaster costs …
Solar power generating firms in Madhya Pradesh are on a mission to reduce poisonous carbon dioxide through their ongoing projects. The 25 MW grid connected solar photovoltaic (PV) power project by Welspun Energy Ltd (WEL), which is under implementation in Neemuch district of Madhya Pradesh, is expected to avoid emissions …
Leaked report by key government advisory body calls for 40% cuts in carbon emissions by 2030 and 90% by 2050 The government’s key climate change advisory body has called for Australia to triple its target for reducing carbon emissions by 2020, with further, deeper cuts in the following decades. A …
Japan and the Republic of Maldives have signed an agreement regarding the Joint Crediting Mechanism, a partnership which aims to mitigate greenhouse gas emissions. Under the agreement, Japan will help Maldives reduce its G.H.G. emissions thereby contributing to international efforts of preventing global warming. Both countries will establish a joint …
This Climate Action Tracker update shows that current emissions and policies - and future emission trends - are likely to lead to higher 21st century emission levels than previously projected. This, in turn, implies a higher level of warming by 2100. Assuming current emissions trends, implemented and presently planned policies …
The Mapping Carbon Pricing Initiatives report maps existing and emerging carbon pricing initiatives around the world. It does not provide a quantitative, transaction-based analysis of the international carbon market since current market conditions invalidate any attempt to undertake such an analysis. The development of national and subnational carbon pricing initiatives …
After the vote to prop up the carbon market failed, prices dropped 40% to €2.63 a tonne European Union politicians rejected a plan to prop up the world’s biggest carbon market on Tuesday, sending it plunging to a new record low and raising questions about its survival. After months of …
New Delhi: South Delhi Municipal Corporation’s composting plant in Okhla has become the first to get carbon credits from United Nations Framework Convention on Climate Change in the country. The civic agency has been given an advance of Rs 25 lakh against net Carbon Emission Reduction (CER) earning from the …
While the form of new framework including new market mechanisms with participation from all the Parties under the UNFCCC will be further discussed and elaborated in order to be agreed upon by 2015 and implemented by 2020, CDM still has a significant role in terms of the foundation of market-based …
Tata Power has registered its 50.4 MW wind project at Samana, Gujarat, under the Clean Development Mechanism (CDM). The project is expected to generate about 76,000 CERs (certified emission reduction) per annum. The wind plant at Samana, commissioned in May 2009, uses 63 wind turbine generators of 800 KW each. …
Tata Power Company Ltd has said it has registered its 25 MW project at Mithapur, Gujarat, with the United Nations Framework Convention on Climate Change (UNFCCC). This will allow the company to trade the certified emission reductions (CERs) it will earn from the renewable energy project. GHG abatement Tata Power …
Strategy 2020 and Sustainable Transport Initiative of the Asian Development Bank (ADB) acknowledge prioritize the role of transport sector in climate change and vice-versa in transport. The Clean Development Mechanism of the United Nations Framework Convention on Climate Change (UNFCCC) uses project formulation and implementation to combat climate change by …
Declining prices of carbon credits along with the lower probability of Annex 1 or developed countries agreeing to binding commitments after the expiry of first commitment period of the Kyoto Protocol in 2012 may hit the revenues of companies like SRF, ONGC, Navin Fluorine and Chemplast Sanmar, among others, which …
Agreeing to a second commitment period without meaningful rules is pointless. Emission cuts must be ambitious The 18th Conference of Parties (COP) to the United Nations Framework Convention on Climate Change began last Monday in Doha. This is an important “transitional” COP towards a brand new agreement that promises to …
For a long time, the Clean Development Mechanism (CDM) has been criticized for its cumbersome procedures and risks of weak environmental integrity. As a potential solution to both of these shortcomings, the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) called for the use of “standardized baselines” …
The U.N. has called in more than 40 contractors and shifted internal resources to help it unclog a bottleneck of requests from companies seeking carbon credits, officials at the body's climate secretariat said on Tuesday. As of August, the U.N. was taking an average of 30 days to start processing …
United Nations Climate Change Secretariat has analysed aspects of CDM project activities and reported on the levels and types of benefits the CDM has provided. Expanding on the study in 2011, this report analyses approximately 4,000 registered CDM projects (excluding programmes of activities) according to four topics: sustainable development, technology …
European Union governments will probably reduce emissions outside the bloc’s carbon market by 8.8 per cent more than required under the 1997 Kyoto Protocol, according to projections published today on an EU website. The oversupply of reductions among the 15 older members of the bloc will amount to 1.03 billion …
REDD+ presents opportunities to cater to the varied needs and interests of a wide range of stakeholders. On the one hand, it lends itself towards meeting emission reduction targets of Annex I countries, and on the other, it has the potential to significantly contribute towards strengthening SFM and sustainable development …
A red-faced Brihanmumbai Municipal Corporation (BMC) has now instituted an inquiry into IL&FS; Environment’s over-estimation of carbon credits that the scientifically-closed Gorai dumping ground could produce. In three years till June 2012, IL&FS; had estimated that the solid waste management project at Gorai would generate 3,00,235 CER (Certified Emission Reduction) …
United Nations emission credits dropped to a record as the regulator defended allowing supplies of offsets from more-efficient coal plants in emerging nations. Certified Emission Reduction credits for December fell 8.9 per cent to close at 1.53 euros ($1.90) a metric ton on the ICE Futures Europe exchange in London, …
