...A PAPER ON CARBON CREDITS Submitted By : Harshad Vijay Kulkarni BE – Part II Dept. of Environmental Engineering Alok Deepak Kulkarni BE – Part II Dept. of Civil Engineering KIT’s College of Engineering, Kolhapur. Abstract The Greenhouse Gases which include Carbon-di-oxide, Methane and also other oxides on account of incomplete combustion, substantially disturb the balance of the heat in the earth’s atmosphere leading to warming of the atmospheric temperature which is called as Global Warming and considered a major threat to life on earth. In today’s world situation, it is very much necessary to find out the solution for the global impact of pollution for the survival of life. The rules & regulations which are meant for the control of pollution are seen to be somewhat ineffective. One of the reason behind the failure of such systems is that there is no attractive proposals in front of industries. The solution requires obviously the attraction in terms of economy. With this, the Kyoto Protocol, 1997, supported by United Nations Framework Convention on Climate Change (UNFCCC) gave a wonder full solution which may prove to be the golden midway between the reduction in pollution & the economy. The honest effort is done by the authors to put light on this topic of Carbon Credits from the root of this issue to its today’s picture! Introduction Carbon is an element stored in fossil fuels such as coal and oil. When these fuels are burned, carbon dioxide is released and...
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...Emissions Trading and Carbon Credit Accounting for Sustainable Energy Development With Focus on India A. N. Sarkar Senior Professor (International Business), Asia-Pacific Institute of Management, New Delhi, India Abstract Global climate change is inextricably linked with the enhanced build-up of greenhouse gases. Emissions- trading in the form of carbon credits or CERs is opening up a new vista of trade opportunities with prospect for gradual reduction of emissions particularly by the developed nations under Annexure-I categories. Various national and international programmes undertaken by the government and voluntarily by the non-government agencies have positively impacted on progressive reduction of emissions in many parts of the world. The paper highlights the emerging issues linked to the modalities of emission-trading, together with scope for developing sound accounting procedures for trading carbon credits. Paper discusses the opportunities for developing a sound marketing system of carbon credits with built-in efficiency in transactions, accountability and transparency in reporting systems with focus on India. Paper also GMJ,VOL 4,ISSUE 1 & 2, JANUARY - DECEMBER 2010 underlines the need to comply with the Global Accounting Standards, Tax Planning, access to Multi-commodity Exchange Market, certification, verification and enforcement procedures for proper execution of emission-trading initiatives aimed at achieving carbon neutrality. The aspects of Carbon management with...
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...life appeared on this planet. With the progress of civilization and advancements of topics : scientific knowledge, efforts are being directed 1. Carbon Credits in India 2. Bio-bin composting towards rationalizing and controlling the process in This is in continuance with the topics discussed in such a way as to make it more effective and efficient. Bio-bin is one such system of composting which is our earlier newsletters. effective in terms of time and space. This topic is Day by day the cycle of climate on earth is changing. discussed in our second article, “Bio-bin composting” Global warming has led to season shifting, changing I hope that the newsletter will serve the landscapes, rising sea levels, increased risk of drought and floods, stronger storms, increase in heat purpose of understanding the above subjects in a related illness and diseases all over the world. This better and proficient manner. has resulted due to emissions of Green House Gases – Dr. Amiya Kumar Sahu (GHG’s) from various anthropogenic activities. Since the inception of Kyoto Protocol in the year 1997, Carbon Credits in India countries all over the world have become more Our earth is undoubtedly warming. This concerned about ‘Global Warming’. Industrialized warming is largely the result of emissions of countries are the major contributors to these emissions carbon dioxide and other Greenhouse Gases compared to the developing countries. India being one (GHG’s) from human activities including industrial of...
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...Carbon Emissions Trading Market: Opportunities and Challenges in Creating A Market to Reach The Political Goal Authors: Class: Date: Module: Lecturer Institute Doreen K., Hari M., Lamberte I., MBAPT2011 26 March 2012 Managerial Economics The Hague University - Confidential This document is confidential. Neither the document nor any of the information contained in this document may be reproduced or disclosed to any parties without the written permission of the authors. Introduction Climate change is widely known to be the most important environmental problem for humankind on this Earth. As we know there is a limit with our atmosphere and the world’s economies are connected through trade and capital flows, and based on this situation, an international cooperation to control greenhouse gases is essential. Can each individual be relied upon to make decisions that influence the Earth’s carbon-dioxide concentration in the social interest? Must governments adjust the incentives we face so that our self-interested choices are also in the social interest? How can governments adjust the incentives? Parkin (2011) has argued that sometimes it is possible to reduce the inefficiency arising from an external cost by establishing a property right where one does not currently exist. Property rights are legally established titles to the ownership, use, and disposal of factors of production and goods and services that are enforceable in the courts. Since the Kyoto Protocol1 was signed...
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...Question 4 The European Union proclaimed that during time of 1990 and 2006, the carbon emissions from international aviation were increased by 100% although the total greenhouse gases emissions was fallen by merely 3% in the European Union. Provided by the European Commission the average carbon emissions between 2004 and 2006 were about 218 million tones, without any adequate regulations, it would expected to be 400 million after ten years which is 2020. It indicated that the aviation industry has contributing to the global climate change which is going to increase hereafter. It is acknowledged that reducing climate change is a moral support of protecting our living atmosphere. Currently, the airlines in European Union are belt-tightening in order to reduce emissions, however, the outcome is not satisfactory at present, for instance, there is problem on the emission trading scheme. Thus, creating more environmental regulations for airlines in the European Union is necessary as to tackle the emission problem more effectively. Data from the Guardian UK shows that the plane industry occupied the second place in the National Carbon Calculators which takes 4,375 per person per year in average. Despite there are environmental policies regulating the carbon emissions by the airbus within the European Union, such as setting levels of carbon emissions for airlines, it is not well-performed. Under the regulations, those airlines could reduce their emissions could sell their surplus...
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...Energy & Resources Accounting for Emission Rights Introduction Accounting for greenhouse gas emissions remains a challenge, and market participants continue to wait for clear guidance from accounting standards setters. Formative efforts on the part of those standards setters have proven unsuccessful. The International Financial Reporting Interpretations Committee (“IFRIC”) initially took on this task, and issued IFRIC 3, Emission Rights. Unfortunately, considerable pressure from both the business community and European politicians, who objected to the financial statement consequences of applying that interpretation, led to its withdrawal by the International Accounting Standards Board (“IASB”) within a year of its issuance. In the US, the Emerging Issues Task Force (“EITF”) also attempted to address the related accounting issues in EITF Issue 03-14, Participants’ Accounting for Emissions Allowances under a “Cap and Trade” Program. However, it was never finalized, and ultimately removed from the EITF’s agenda. More recently, organizations have been advised of informal views from both the Financial Accounting Standards Board (“FASB”) and the Securities and Exchange Commission (“SEC”) on the appropriate accounting for emissions allowances held, especially since EITF 03-14 was tabled. As a consequence, many companies remain confused about the appropriate accounting treatments under both International Financial Reporting Standards (“IFRS”) and generally accepted accounting principles...
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...Energy & Resources Accounting for Emission Rights Introduction Accounting for greenhouse gas emissions remains a challenge, and market participants continue to wait for clear guidance from accounting standards setters. Formative efforts on the part of those standards setters have proven unsuccessful. The International Financial Reporting Interpretations Committee (“IFRIC”) initially took on this task, and issued IFRIC 3, Emission Rights. Unfortunately, considerable pressure from both the business community and European politicians, who objected to the financial statement consequences of applying that interpretation, led to its withdrawal by the International Accounting Standards Board (“IASB”) within a year of its issuance. In the US, the Emerging Issues Task Force (“EITF”) also attempted to address the related accounting issues in EITF Issue 03-14, Participants’ Accounting for Emissions Allowances under a “Cap and Trade” Program. However, it was never finalized, and ultimately removed from the EITF’s agenda. More recently, organizations have been advised of informal views from both the Financial Accounting Standards Board (“FASB”) and the Securities and Exchange Commission (“SEC”) on the appropriate accounting for emissions allowances held, especially since EITF 03-14 was tabled. As a consequence, many companies remain confused about the appropriate accounting treatments under both International Financial Reporting Standards (“IFRS”) and generally accepted...
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...Emission Trading-Introduction Good afternoon everyone, today we are going to present on the topic of Emissions trading or what people always refer to as cap and trade. The purpose of this mechanism is to to make it cheaper for companies and governments to meet emissions reduction targets so as to alleviate environmental problems caused by pollution, like global warming. Unlike traditional environmental regulations, which are based solely on the threat of penalties, emission trading is a market-based approach which attempts to provide economic incentives for achieving reductions in the emissions of pollutants. As to how does it actually works, a central authority, usually a governmental, or intergovernmental body sets a limit or cap on the amount of a pollutant that may be emitted. The limit or cap is allocated to firms in the form of certain amount of emissions permits which represent the polluting property right. Firms that keep their emission levels below allowed level may sell their surplus permits to other firms and vice versa, if a firm wants to emit more pollutants than they are allowed, they have to buy emission permits from other firms in the market, this is the trading of permits. There are some several important and significant examples of the application of the emission trading concept. First, It is the central element of the Kyoto protocol in the form of the Clean Development Mechanism (CDM). Second, it is the cornerstone policy of the European Union Emissions Trading...
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...Signature | | | | | | | | | | | | | Introduction For more than a year, the Rudd government has been had a contentious issue with the process of introducing an Emission Trading Scheme (ETS). The Carbon Pollution Reduction Scheme (CPRS) was devised to reduce greenhouse gases and Australia’s carbon pollution (DCC 2009). However, the bills were passed by the House of Representatives but have been continually rejected by the Senate as politicians worry about the ways to deal with carbon pollution reduction and to manage the climate changes. The proposed legislation is planned to be implemented by 2011 but this legislation hasn't been approved by the Senate because the opposite politicians ask better profits and they are concerned about jobs at risk as stated above (O' Connor 2009). This paper will examine the purpose of the CPRS by examining the ETS, side taxation and reduction of carbon emissions. First, we'll begin with the tax incident create by the ETS and then the impacts on the elasticity of demand and supply by the tax. Finally, the amendments asked by the government and the effect of this to the market. What is the Emissions Trading Scheme Based on the Emissions Trading Scheme, all companies, which emit carbon, must purchase 'permits' to get the rights to emit a specific amount of greenhouse gases (Garnaut 2008). With the first price of permits set by the government, the market of permits is established under . The below figure demand...
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...Carbon Credit How company’s Generating profit An Interactive Research Project Report Submitted to the Faculty of AMITY BUSINESS SCHOOL AMITY UNIVERSITY UTTAR PRADESH by Aamir Malik(B 43) Anuj Dubey(B 55) MBA (G) 2013-2015 October 2013 __________________________________________________ INDEX S.No | Topic | Page No. | 1. | Acknowledgement | 4 | 2. | Abstract | 5 | 3. | Introduction | 5-6 | 4. | How carbon credit Trading works | 7 | 5. | Global Scenario | 8 | 6. | Analyzing Indian Scenario | 9 | 7. | Benefits for India | 10-11 | 8. | Financing Up port in India | 11-12 | 9. | Business Mechanism and Carbon exchange | 12-13 | 10. | CDM process and carbon Trading | 14 | 11. | Accounting and Tax treatment In different Countries | 15-17 | 12. | CASE 1: Buddhil Hydro Electric Power Ltd. | 18-20 | 13. | CASE 2: Greenply Industries Ltd. | 21-22 | 14. | CASE 3: Reliance Power | 23 | 15. | Future Of Carbon Trading | 24-25 | 16. | Conclusion | 26 | 17. | References | 27 | ACKNOWLEDGEMENT I have taken efforts in this project. However, it would not have been possible without the kind support and help of many individuals and organizations. I would like to extend my sincere thanks to all of them. I am highly indebted to Ms. Lakhwinder Kaur Dhillon Mam for their guidance and constant supervision...
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...Consultation Paper No 3/2011 TELECOM REGULATORY AUTHORITY OF INDIA Consultation Paper On Green Telecommunications 3rd February, 2011 Mahanagar Doorsanchar Bhawan Jawahar Lal Nehru Marg New Delhi-110002 Preface Operation of telecommunications networks requires electrical power. The expense on energy accounts for a significant share of the operational cost of these networks. This is particularly so in the rural areas where availability of power is uncertain. The use of diesel generators to ensure continuous power supply has the disadvantage of increasing the greenhouse gas emission and consequent enlargement of the carbon footprint which has a deleterious impact on the environment. While contribution of the telecommunications sector to the global carbon footprint is low compared to other sectors like transportation and construction, it nevertheless contributes a noteworthy share and increasingly so with growing reach of the telecommunications network. Efforts are afoot, all over the world, to find measures to deal with this issue. As the second largest and fastest growing market in the world, there is need for India to be conscious of the concerns in this regard. Besides, as a country heavily dependent on import of petroleum products while being abundant in renewable energy sources there is scope for innovative measures towards making telecommunications green. It is in this regard that TRAI believes that this is an opportune time to discuss the related issues...
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...of the Carbon Market 2010 New Approach for the 2011 Report With the goal of providing a comprehensive discussion of the issues that most affected the carbon market in 2010, the authors of last year’s report have restructured State and Trends of the Carbon Market for 2011. The report still provides an overview of the size and reach of the carbon markets, as well as the evolution of the Kyoto flexibility mechanisms, and offers potential supply/demand scenarios for coming years. However, it no longer includes a detailed breakdown of carbon transactions, as in previous years. Instead, the report provides a more in-depth analytical discussion of the regulation and policy issues that will guide future carbon market development. The findings and opinions expressed in this report are the sole responsibility of the authors and should not be cited without permission. They do not necessarily reflect the views of the World Bank Group, its Executive Directors, the countries they represent or of any of the participants in the carbon funds or facilities managed by the World Bank. The World Bank does not guarantee the accuracy of the data included in this work. This report is not intended to form the basis of an investment decision. The boundaries, colors, denominations, and other information shown in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Section 1 photo credit:...
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...Briana Alston MGT 3550-03 Values Ethics and Sustainability April 19, 2016 Abstract This paper was created to reflect how the chapters in molecule 2 helps us understand how important big corporations are to their employees, the environment, and also to people in need. In this essay I will give a brief run down on a number terms we familiarized in class, and analysis on cases in chapter 1,3, and 10. In addition, I will present my own managerial implications to clarify how I would run a company if I were ever to become a CSR manager. To commence this abstract I would like to ask, which is more of great import to a business, helping the public or profit? Part I- Terms In Chapter 1 T. Savoie (2016), explained to the class the meaning of the term Stakeholder from his reaction paper. According to the book the term stakeholder refers to the persons and groups that affect, or are affected by, an organization’s decisions, policies. and operations. According to business dictionary.com, some examples of key stakeholders are creditors, directors, employees, government (and its agencies), owners (shareholders), suppliers, unions, and the community from which the business draws its resources. Another term in chapter 1 we went over was Focal Organization, which was described by Savoie (2016). In the book this is described by the organization from whose perspective the analysis is conducted. Savoie’s example of this was “in retail you would want to know the...
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...24th February 2011 in order to tackle climate change and deliver the economic reform[1]. Australia needs to move to a clean energy in the future. As per the announcement, the carbon price commences on 1 July 2012, subject to the ability to negotiate agreement with a majority in both houses of Parliament and pass legislation in 2011[2]. The corporations with the highest levels of pollution will have a very strong motivation to reduce their pollution. As a result, it will incur additional expenses a lot for the corporations. However, it seems that currently, carbon tax is the only assessable way to control the pollution and to protect our environment. An initial fixed carbon price will provide businesses with a stable and predictable platform to transition to a ‘cap and trade’ emissions trading scheme that will be linked to international carbon markets[3]. This will give businesses time to understand their carbon liability and begin the transformation in a prospectus way. The following sections of this report will review some significant strategies and effects of carbon tax on Stockland. In addition, the study also examines about the impact of ETS on the company’s income statement and financial statement position (also known as B/S). The final part of the report will focus on the necessity of the carbon tax in respect of the government. 1.1Company overview Stockland is one of the largest Australian property development groups, which was founded in 1952 as a residential...
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...Emission Rates Global warming and greenhouse gases have become a very popular topic among environmentalists. According to National Geographic, the increasing use of carbon emissions in human activities like driving cars, flying planes, conducting power plants, and the burning of fossil fuels in the last 150 years, has led to higher carbon emissions levels than ever recorded in the hundreds of thousands of years before this. As a result, National Geographic says that the smog levels have increased, especially in the United States’ biggest cities such as New York and Los Angeles. That should be pretty obvious given the fact that New York and Los Angeles are the densest and second densest populated cities in the US, respectively (Hawthorn). For years, people have spent countless hours studying and researching trying to design the most innovated solution to reduce emissions. Driving and flying less seems like the most obvious cure to emissions, but it is easier said than done. Everyone claims to have the best solution, the right solution, or even better, the absolute only solution that will forever reduce emission rates. Some have suggested worldwide building upgrades to increase insolation to help lower energy costs and ultimately reduce emissions since worldwide buildings contribute to thirty-three percent of all carbon emission (Biello). Some others include moving closer to work, consuming less and even being more efficient. Many people have also suggested a philosophy called cap...
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