The addition of new offset project types in the Alberta market could ‘quadruple’ the volume of carbon credits companies can trade to comply with the Canadian province’s climate regulations, according to a North American project developer.
The market in greenhouse gas emissions could outstrip the conventional commodities markets to become the biggest traded commodity, the head of the US Commodities Futures Trading Commission said on Wednesday.
The World Bank’s executive board today approved two new climate change funds that are targeting $5 billion aimed at stimulating investment in developing countries to produce cleaner energy and adapt to the effects of climate change.
The price of EU allowances for this year’s delivery extended yet another 26 month high during trade on Tuesday, as incessant oil price rises continue to set records on a daily basis and underpin demand for all energy commodities.
The Chicago Climate Exchange (CCX) announced Wednesday that it saw a new record day of trading carbon futures this week, with 622,000 tonnes of carbon dioxide equivalent changing hands Tuesday.
The European Climate Exchange (ECX), the largest bourse for carbon allowances, is launching an options contract for UN-regulated certified emission reductions (CER) futures on 16 May.
The Polish council of ministers will make a final decision on the country's national allocation plan for EU carbon allowances on 29 April, which paves the way for the country issuing 2008 allowances.
Members of Canada’s minority Conservative government last night blocked a vote on legislation from an opposition party that aims to set more stringent greenhouse gas emission reduction targets than those in the Conservatives’ climate plan.
The Climate Registry, a voluntary greenhouse gas emission registry, released its final reporting rules for participating states and provinces in the US, Mexico and Canada Monday.
A nonprofit organisation led by former US Vice President Al Gore is to launch a high-profile multimedia advertising campaign to raise public awareness on the need to cut emissions of climate-changing greenhouse gases.
Japan submitted a comprehensive package of proposals to the UN on Friday for the establishment of a new international framework to replace the Kyoto protocol on curbing global warming, which expires in 2012, Japanese media reported.
US greenhouse gas emissions have risen by 14 per cent from 1990 to 7.2 billion metric tonnes of CO2 equivalent in 2006, according to the latest emissions inventory released by the US Environmental Protection Agency (EPA) on Friday.
A coalition of environmental groups in Canada on Friday urged the federal government to ensure that climate policy is strict enough to boost the price of carbon and encourage development in renewable technology.
At Eco Preservation Society we advocate two common sense long-term goals:
Common Sense Goal #1:Within thirty years we must replace fossil fuels as an energy source. <!--[endif]-->
Common Sense Goal #2: Over the next one hundred years we must sequestered the excess carbon that has been added to the atmosphere over the last one hundred years.
Premier Gordon Campbell of British Columbia has outlined environmental goals for the western Canadian province’s new legislative session, including “enabling legislation” for the province to take part in a regional greenhouse gas emissions cap-and-trade system.
The western Canadian province of British Columbia, which is moving forward with strict targets for reduction of greenhouse gas emissions, seeks permission for those to override federal carbon intensity caps, officials told Point Carbon.
Environmental asset firm Natsource and the non-profit Pacific Forest Trust have announced a trade of 60,000 carbon offsets that marks the first such deal for US forest credits under new California state regulations.
After lengthy stakeholder consultations, California’s public utilities and energy commissions Friday recommended the state reduce greenhouse gas emissions through a cap-and-trade system that limits the carbon output of companies selling power to California.
Buying international emission reduction credits to cover 30 per cent of its targeted emission cuts can save Canada up to C$110 (€74) per tonne of CO2 equivalent reduced in 2050, according to government environmental advisors.
Nearly 23 million tonnes of carbon dioxide was traded on the Chicago Climate Exchange (CCX) last year – more than twice as much as in 2006, according to the exchange.
Japan’s biggest retailer, Seven & I Holdings, said on Tuesday it will buy greenhouse gas (GHG) emission credits using part of the proceeds from the sale of new environmentally friendly “eco-bags” across the country.
Greenhouse gas emissions in British Columbia (BC) are likely to grow so much in sectors like transport that the Canadian province may not meet a 2020 reduction target of 33 per cent from current levels, say environmentalists and a think tank.
A long-term aspirational goal for global greenhouse gas emissions would make a post-2012 international treaty on climate change more efficient, the 16 governments of the East Asia Summit said today.
Canadian province British Columbia will reduce its greenhouse gas emissions 33 per cent below current levels by 2020, according to the Greenhouse Gas Reduction Targets Act introduced by Premier Gordon Campbell Tuesday.
The Canadian province of Manitoba will cut greenhouse gas emissions by shutting down its only coal-fired generating facility, premier Gary Doer said in his throne speech today.
Major greenhouse gas emitters in the Canadian province of Alberta, where emissions intensity regulations entered into force in July, will achieve their targets mainly by paying into a technology fund, Point Carbon has learned.
Japan has pledged to contribute $10 million (€7 million) to a new fund being developed by the World Bank to protect and replant forests, in the latest of a series of initiatives aimed at raising its profile in the fight against global warming.
The Norwegian government today announced it will spend NOK4.1 billion (€535 million) over the next five years on purchasing Kyoto carbon credits to offset its emissions of greenhouse gases.
The price of carbon credits generated through CDM projects is on the rise, as new buyers have entered the market and sellers are charging more for CERs because of an increase in the price of allowances in Europe’s cap-and-trade system.
Two leaders in the US House of Representatives whose committees are considering national climate change legislation today released a set of rules for the design of a US cap-and-trade programme for greenhouse gas emissions.
Hungary is considering using an ISO standard to verify emission reductions from projects funded by sales of Kyoto carbon credits, a government official told Point Carbon today.
Canada's minority Conservative government will continue to implement its controversial federal climate plan, as there is no chance it will be ousted after its budget passed Tuesday night.
Canada will ban the sale of inefficient incandescent light bulbs by 2012 as part of a plan to cut down on emissions of greenhouse gases, Natural Resources Minister Gary Lunn said on Wednesday.
British Columbia's government announced Tuesday it will be the first Canadian province to join an emerging international system to fight global warming by creating a carbon trading market that lets polluters buy "carbon credits" from cleaner and greener companies.
Canada's greenhouse gas emission reduction targets under the Kyoto Protocol will be excluded from the minority Conservative government's forthcoming climate change legislation targeting big emitters, Environment Minister John Baird said on Monday.
Canada's Conservative government has promised to soon unveil “world-leading regulations” to curb polluting greenhouse gases, following a bleak climate outlook report released in Brussels on Friday by the UN Intergovernmental Panel on Climate Change (IPCC).
Governors and state officials in five western US states setting up a joint initiative to reduce greenhouse gases praised Monday's Supreme Court ruling stating that the US Environmental Protection Agency (EPA) has authority to regulate carbon dioxide emissions from cars.
Money flowing into the carbon fund sector grew by $4.7 billion (€3.5 billion) over the past six months to total $11.8 billion, thanks in part to 12 new funds entering the carbon market, UK-based analysts New Carbon Finance said on Wednesday.
The European commission today announced it would allow Poland to hand out 208.5 million allowances annually to installations included in the second phase of the European emissions trading scheme.
The European Investment Bank and World Bank have launched a €50 million fund to buy carbon credits on behalf of three EU member states, a regional government and a large utility.
Canada has belatedly submitted its initial report under the Kyoto Protocol to the United Nations, paving the way for the country to participate in the Protocol's flexible mechanisms.
California Governor Arnold Schwarzenegger and British Columbia Premier Gordon Campbell on Thursday agreed to work together in efforts to curb greenhouse gas emissions.
Alberta, the home of Canada's vast oil sands production, has become the country's first province to legislate greenhouse gas emission reductions from large industry, the provincial government said on Thursday.
The price of carbon allowances will average €21.00 during the second phase of the European emissions trading scheme (ETS), according to analysis by Point Carbon published on Friday.
The environment ministers of the EU member states today agreed that the EU should reduce greenhouse gas emissions by 20 per cent below 1990 levels by 2020, and that 30 per cent should be the reduction target sought in international negotiations.
Canadian Prime Minister Stephen Harper says he will respect a new bill calling on the government to commit to its Kyoto obligation if the act actually becomes a law, Canadian media reported Thursday.
Canada's parliament passed a Liberal bill Wednesday night to ensure the country meets its Kyoto obligations by reducing greenhouse gas emissions six per cent below the 1990 level by 2012.
Canadian Prime Minister Stephen Harper yesterday announced his government would budget C$1.5 billion (nearly €1 billion) in new funding for provinces to battle climate change, with $350 million going to the French-speaking province of Quebec.
Representative Rick Boucher, chairman of the Energy and Air Quality Subcommittee of the US House's Energy and Commerce Committee, will introduce legislation to curb US greenhouse gases through a cap-and-trade programme, he told Point Carbon.
The threat of global warming is enough to spur all governments in Canada and the UnitedStates to have carbon dioxide (CO2) regulations in place by the end of the decade, according to a new report from CIBC World Markets.
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In 1984 the Rocky Mountain Institute in Colorado built a house that cut water consumption by 50 percent, power consumption by 90 percent and heating by 99 percent, paid back in ten months.
