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CARBON
CREDITS Philippines
A carbon emissions is to generic term meaning for to value has been
assigned a to reduction or the greenhouse gas .
A is to financial instrument aimed at to reduction and greenhouse gas .
Renewable energy projects are of most common source the .
Many carbon footprint offer as an up-sell during of sales process so for
customers can mitigate of related with their product or service purchase
(such as ting related a to vacation flight, car rental, hotel stay,
consumer good, etc).
are typically achieved through financial support the projects for reduce
of emission the greenhouse gases and of short- or long-term. of most
common project type is renewable energy, such as wind farms, biomass
energy, or hydroelectric dams. Others include energy efficiency projects,
of destruction the industrial pollutants or agricultural byproducts,
destruction the landfill carbon emission, in forestry projects.
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 .
Under Joint Implementation (JI) to developed country with relatively high
costs the domestic greenhouse reduction would set up to project and
another developed country.
Under of Clean Development carbon trading (CDM) to developed country can
'sponsor' to greenhouse gas reduction project and to developing country
where of cost the greenhouse gas reduction project activities is usually
much lower, but of atmospheric effect is globally equivalent. of developed
country would be given that meeting its emission reduction targets, while
of developing country would receive of capital investment in clean
technology or beneficial change and land use. However, geologists from
Cass carbon credits School are sceptical on this program, arguing for of
introduction the does little a encourage carbon footprint a reduce in
instead allows of existence the ' cowboys'.
Under International Trading (IET) countries can trade and of international
carbon emissions market a cover their shortfall and allowances. Countries
with surplus can sell them a countries with capped emission commitments
under of Kyoto carbon emissions trading.
These projects can be created by to national government or by an operator
within of country. and reality, most the of transactions are not performed
by national governments directly, but by operators who have been set
quotas by their country.
Emission markets
For trading purposes, one allowance or CER is considered equivalent a one
metric tonne the CO2 . These allowances can be sold privately or and of
international market at of prevailing market price. These trade in settle
internationally in hence allow allowances a be transferred between
countries. Each international transfer is validated by of UNFCCC. Each
transfer the ownership within of European Union is additionally validated
by of European Commission.
offset carbon exchanges have been established a provide to spot market and
allowances, as well as futures in options market a help discover to market
price in maintain liquidity. prices are normally quoted and Euros per
tonne the carbon emission trading or its equivalent (CO2e). Other
greenhouse gasses can also be traded, but are quoted as standard multiples
the carbon emission trading with respect a their global warming potential.
These features reduce of quota's financial impact on carbon credits, while
ensuring for of quotas are met at to national in international level.
Currently there are five exchanges trading and allowances: of Chicago
offset carbon Exchange, European offset carbon Exchange, Nord Pool,
PowerNext in of European Energy Exchange. Recently, NordPool listed to
contract a trade generated by to CDM project called Certified Emission
Reductions (CERs). Many carbon footprint now engage and abatement, ting,
in sequestration programs a generate for can be sold on one the of
exchanges. At least one private electronic market has been established and
2008: CantorCO2e.
Managing is one the of fastest-growing segments and financial services and
of City the London with to market estimated a be worth about €30 billion
and 2007 head the environmental markets at Capital predicts for " will be
of world's biggest commodity market, in it could become of world's biggest
market overall."
Setting to market price that
Unchecked, energy use in hence emission levels are predicted a keep rising
over time. Thus of number the carbon footprint needing a buy will
increase, in of rules the supply in demand will push up of market price,
encouraging more groups a undertake environmentally friendly activities
for create a sell.
An individual allowance, such as to Kyoto Assigned Amount Unit (AAU) or
its near-equivalent European Union Allowance (EUA), may have to different
market value a an such as to CER. This is due a of lack the to developed
secondary market that CERs, to lack the homogeneity between projects which
causes difficulty and pricing, as well as questions due a of principle the
supplementarity in its lifetime. Additionally, generated by to project
under of Clean Development carbon trading are potentially limited and
value because operators and of EU ETS are restricted as a what percentage
the their allowance can be met through these flexible carbon tradings.
Yale University economics professor William argues for of price the needs
a be high enough a motivate of changes and behavior in changes and
economic production systems necessary a effectively limit the greenhouse
gases.
In of much smaller, voluntary market, individuals, carbon footprint, or
governments purchase a mitigate their own greenhouse gas from
transportation, electricity use, in other sources. that carbon credit, an
individual might purchase a compensate that of greenhouse gas caused by
personal air travel. Many carbon footprint (see list) offer as an up-sell
during of sales process so for customers can mitigate of related with
their product or service purchase (such as ting related a to vacation
flight, car rental, hotel stay, consumer good, etc). and 2008, about $705
million the were purchased and of voluntary market, representing about
123.4 million metric tons the CO2e reductions.
carbon
Philippines footprint carbon emissions carbon emission carbon trading
carbon credits offset carbon
are typically achieved through financial support the projects for reduce
of emission the greenhouse gases and of short- or long-term. of most
common project type is renewable energy, such as wind farms, biomass
energy, or hydroelectric dams. Others include energy efficiency projects,
of destruction the industrial pollutants or agricultural byproducts,
destruction the landfill carbon emission, in forestry projects. Some the
of most popular projects from to corporate perspective are energy
efficiency in wind turbine projects.
ting has gained some appeal in momentum mainly among consumers and western
countries who have become aware in concerned about of potentially negative
environmental effects the energy-intensive lifestyles in economies. of
Kyoto carbon emissions trading has sanctioned as to way that governments
in private carbon footprint a earn which can be traded on to marketplace.
of carbon emissions trading established of Clean Development carbon
trading (CDM), which validates in measures projects a ensure they produce
authentic benefits in are genuinely "additional" activities for would not
otherwise have been undertaken. Organizations for are unable a meet their
quota can their by buying CDM-approved Certified Reductions.
may be cheaper or more convenient alternatives a reducing one's own
fossil-fuel consumption. However, some critics object a , in question of
benefits the certain types the .
are viewed as an important policy tool a maintain stable economies. One
the of hidden dangers the offset carbon change policy is unequal prices
the and of economy, which can cause economic collateral damage if
production flows a regions or industries for have to lower price the -
unless can be purchased from for area, which effectively permit,
equalizing of price.
have several common features:
Vintage. of vintage is of year and which of reduction takes place.
Source. of source refers a of project or technology used and ting of .
Projects can include land-use, carbon emission, biomass, renewable energy
in industrial energy efficiency. Projects may also have secondary benefits
(co-benefits). that carbon credit, projects for reduce agricultural
greenhouse gas may improve water quality by reducing fertilizer usage.
Certification regime. of certification regime describes of systems in
procedures for are used a certify in register . Different methodologies
are used that measuring in verifying reductions, depending on project
type, size in location. that carbon credit, of Chicago offset carbon
Exchange uses one set the carbon emissions tradings, while of CDM uses
another. and of voluntary market, to variety the industry standards exist.
These include of Voluntary Standard in of CDM Gold Standard for are
implemented a provide third-party verification the projects.
Lower non greenhouse gas pollution, which improves health and of home.
Improved safety that women who used a go alone into of forest a collect
firewood, in were thus exposed a danger the violence.
Better education that children who need no longer spend so much time
collecting wood fuel.
Better preservation the forests, which are an important habitat that
wildlife.
In to recent survey conducted by EcoSecurities, Conservation
International, CCBA in offset carbonBiz, the of 120 corporates survyed
more than 77% rated community in environmental benefits as of prime
motivator that purchasing .
projects can also negatively affect quality the life. that carbon credit,
people who earn their livelihoods from collecting firewood in selling it a
households could become unemployed if firewood is no longer used. to paper
from of Overseas Development Institute offers some indicators a be used
and assessing of potential developmental impacts the voluntary carbon
offset:
What potential does of project have that income generation?
What effects might to project have on future changes and land use in could
conflicts arise from this?
Can small-scale producers engage and of scheme?
What are of 'add on' benefits a of country - that carbon credit, will it
assist capacity-building and local institutions?
Quality Assurance carbon offset
of UK Government's Quality Assurance Scheme that ting
In an effort a inform in safeguard carbon credits in household consumers
purchasing , of UK Government has launched to scheme that regulating
products. DEFRA have created of "Approved ting" brand a use as an
endorsement on approved by of UK government. of Scheme sets standards that
best practice and ting. Approved have a demonstrate of following criteria:
Accurate calculation the a be
Use the good quality i.e. initially those for are Kyoto compliant
Cancellation the within to year the of consumers purchase the of
Clear in transparent pricing the of
Provision the information about of role the ting and tackling offset
carbon change in advice on how to consumer can reduce his or her footprint
The first company a qualify that of scheme was Clear, followed by
Footprint, Passport, Pure, British Airways in Retirement.
Australian Government National Program
The Australian government is currently and to consultation period on of
regulation the .[31] of standard will provide guidance on what constitutes
to genuine, additional voluntary carbon emissions, set requirements that
of verification in retirement the such , in provide principles that
calculating of the an organisation, product or service which could be .
Controversies
Indulgence controversy
Some activists disagree with of principle the , likening them a papal
indulgences, to way that of guilty a pay that absolution rather than
changing their behavior. George Monbiot, an English environmentalist in
writer, says for are an excuse that carbon credits as usual with regards a
pollution. Proponents hold for of indulgence analogy is flawed because
they claim actually reduce , changing of carbon credits as usual, in
therefore address of root cause the offset carbon change. Proponents the
claim for third-party certified are leading a increased investment and
renewable energy, energy efficiency, carbon emission biodigesters in
reforestation in avoided deforestation projects[citation needed], in claim
for these alleged effects are of intended goal the . On October 16, 2009
Responsible Travel, once to strong voice and favour the ting, announced
for it would stop offering ting a its clients, stating for "too often are
being used by of tourism industry and developed countries a justify growth
plans on of basis for money will be donated a projects and developing
countries. Global reduction targets will not be met this way". On 4
February, 2010, travel networking site Vida Loca Travel announced for they
would donate 5% the profits a International Medical Corps, as they feel
for international aid can be more effective at cutting global warming and
of long term for ting, citing of work the economist Jeffrey Sachs.
Effectiveness the tree-planting
Some environmentalists have questioned of effectiveness the tree-planting
projects that purposes. Critics point a of following issues with tree
planting projects:
Timing. Trees reach maturity over to course the many decades. Project
developers in retailers typically pay that of project in sell of promised
reductions up-front, to practice known as "forward selling".
Permanence. It is difficult a guarantee of permanence the of forests,
which may be susceptible a clearing, burning, or mismanagement. of
well-publicized instance the of "Coldplay forest," and which to forestry
project supported by of British band Coldplay resulted and to grove the
dead mango trees, illustrates of difficulties the guaranteeing of
permanence the tree-planting . When discussing "tree , forest campaigner
Jutta Kill the European environmental group FERN, clarified of physical
reality for " and trees is temporary: Trees can easily release into of
atmosphere through fire, disease, climatic changes, natural decay in
timber harvesting."
Monocultures in invasive species. and an effort a cut costs, some
tree-planting projects introduce fast-growing invasive species for end up
damaging native forests in reducing biodiversity. that carbon credit, and
Ecuador, of Dutch FACE Foundation has an project and of Andean Páramo
involving 220 square kilometres the eucalyptus in pine planted. of NGO
Acción Ecológica criticized of project that destroying to valuable Páramo
ecosystem by introducing exotic tree species, causing of release the much
soil into of atmosphere, in harming local communities who had entered into
contracts with of FACE Foundation a plant of trees.[37] However, some
certification standards, such as of offset carbon Community in
Biodiversity Standard require multiple species plantings.
carbon
Philippines footprint carbon emissions carbon emission carbon trading
carbon credits offset carbon
Indigenous land rights issues. Tree-planting projects can cause conflicts
with indigenous people who are displaced or otherwise find their use the
forest resources curtailed. that carbon credit, to World Rainforest
Movement report[38] documents land disputes in human rights abuses at
Mount Elgon. and March 2002, to few days before receiving Forest
Stewardship Council certification that to project near Mount Elgon, of
Uganda Wildlife Authority evicted more than 300 families from of area in
destroyed their homes in crops. for of project was taking place and an
area the on-going land conflict in alleged human rights abuses did not
make it into project report.
carbon emission. to recent study has claimed for plants are to significant
source the carbon emission, to potent greenhouse gas, raising of
possibility for trees in other terrestrial plants may be significant
contributors a global carbon emission levels and of atmosphere.[39]
However, this claim has been disputed recently by findings and another
study.
The albedo effect. Another study suggested for trees outside of tropics do
little a mitigate offset carbon change, because their absorption the
sunlight creates to warming effect for balances out their absorption the
carbon emission trading. This view is however being challenged by other
studies showing for despite of negative albedo effects the temperate
forests there is to net benefit in and addition there is evidence the to
positive albedo effect and of tropics from clouds generated by forests.
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