...to set an overall limit on the amount of carbon that can be emitted • The Cap: Each company, will have a limit on the amount of greenhouse gas that it can emit. • The Trade: More efficient companies can sell their extra permits to companies that are not able to make reductions. Source: Text from “Cap and Trade 101”, Center for American Progress Emission Permit Market • Emission permits are traded in market; Creates a new market for ‘Clean Air’(Carbon-less air) Source: “Review of Forestry Carbon Standards”, Imperial College London More on Cap & Trade • The profits: – The program would generate $50 billion per year, but could reach up to $300 billion – The revenue can be used to invest in renewable energy, efficiency, low-carbon transportation technologies, green-collar job training etc Carbon Reduction Targets Source: “Review of Forestry Carbon Standards”, Imperial College London More on Cap & Trade • The cons: – Hard to quantify the effects of carbon emissions, hence put a price – Implementing, monitoring is a challenge – Highly political, highly manipulative Source: Members’ understanding EU-Emissions Trading Scheme (ETS) • • • • • • Largest multi-national emissions trading scheme in the world. The objective of EU-ETS is reduction of greenhouse gas emissions in a costeffective and economically-efficient manner. It currently limits CO2 emissions from approximately 12,000 facilities in the 27 EU Member States. Operational Mechanism is via...
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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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...of Nicholas Linacre, Alexandre Kossoy and Philippe Ambrosi, with important contributions from Manelle Aït Sahlia, Veronique Bishop, Benoît Bosquet, Christophe de Gouvello, Taisei Matsuki and Monali Ranade. 2 | State and Trends 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...
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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...
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................................................... 2.1 Single European Act 1986................................................... 2.2 Benefits and costs............................................................... 3. EU Policies................................................................................... 3.1 The free trade policy............................................................. 3.2 Global Market........................................................................ 3.2.1 NAFTA & MERCOSAR................................................. 3.2.2 APEC........................................................................... 3.2.3 EU Vs Global Markets................................................. 4. Corporate Social Responsibility....................................................... 4.1 CSR and BP- Olympics in London; 2012..................................... 4.2 BP vs. the Consumer.................................................................. 4.3 Russian takeover with sex parties............................................. 5. Environmental policies.................................................................... 5.1 Kyoto protocol and the EU........................................................ 5.2 The EU and the environment.................................................... 5.3 BP and the environment............................................................ 5.3.1 Breath of fresh air........................................
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...The Business and Politics of Environmental Regulation and Activism 3028IBA – Energy and Environmental Security Dr Tapan Sarker Department of International Business and Asian Studies 3028IBA - 2013 Topics Covered in this Lecture • The business/corporate sector and the environment (essentially business and the climate change issue); and • Emissions trading schemes (the key strategy, considered the most cost-effective strategy, by which economic activity is to be guided towards meeting certain GHG emission reduction targets) 3028IBA - 2013 The Business/Corporate Sector and the Environment 3028IBA - 2013 Some of the questions today’s lecture and tutorial topic considers • In the context of governments attempting to achieve climate security, what have been the key concerns of the business sector? • • How has the business sector attempted to influence decision making on climate change policies? How have businesses responded to the greenhouse gas reduction challenge and policies, and what has motivated their responses? 3028IBA - 2013 The Traditional Behaviour of the Business Sector in Relation to the Environment • Opposition to national and international policies that they believe would impose significant new costs on them or otherwise reduce expected profits When faced with existing strong domestic regulations on an activity with a global environmental dimension, corporations are likely to support international agreements that would impose similar...
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...Futures Contract: Estimation and Performance Evaluation of Optimal Hedge Ratios in the European Union Emissions Trading Scheme John Hua Fan, Eduardo Roca and Alexandr Akimov No. 2010-09 Series Editor: Dr. Alexandr Akimov Copyright © 2010 by author(s). No part of this paper may be reproduced in any form, or stored in a retrieval system, without prior permission of the author(s). Hedging With Futures Contract: Estimation and Performance Evaluation of Optimal Hedge Ratios in the European Union Emissions Trading Scheme John Hua Fan, Eduardo Roca and Alexandr Akimov Department of Accounting, Finance and Economics, Griffith University, Queensland, Australia 4111 Abstract Following the introduction of the European Union Emissions Trading Scheme, CO2 emissions have become a tradable commodity. As a regulated party, emitters are forced to take into account the additional carbon emissions costs in their production costs structure. Given the high volatility of carbon price, the importance of price risk management becomes unquestioned. This study is the first attempt to calculate hedge ratios and to investigate their hedging effectiveness in the EU-ETS carbon market by applying conventional and recently developed models of estimation. These hedge ratios are then compared with those derived for other markets. In spite of the uniqueness and novelty of the carbon market, the results of the study are consistent with those found in other markets – that the hedge ratio is in...
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...Corporate Carbon Strategies Threats and opportunities arising from the new energy imperative Reference Code: BI00036-019 Publication Date: March 2011 1 About the authors Professor Merlin Stone Merlin is Head of Research at The Customer Framework. He is author or co-author of many articles and thirty books and also on the editorial advisory boards of several academic journals. He has a first class honors degree and doctorate in economics from Sussex University, UK. In parallel to his business career, he has also pursued a full academic career, holding senior posts at various universities. He is now a visiting professor at De Montfort, Oxford Brookes and Portsmouth Universities, teaches economics for the Open University and marketing for Exeter University. Jane Fae Ozimek The author is a writer and researcher in the areas of IT, Business and the Law. Jane is currently editor of the Journal of Database Marketing and has previously published works on the use of statistics in business and Marketing Resource Management. Recent research papers include publications on the misuse of security protocols by major corporations, and a re-evaluation of the Loyalty Ladder concept in marketing theory. Jane was also co-author of the recently published Carbon Trading and the Effect of the Copenhagen Agreement (published by Business Insights, 2010). 2 Disclaimer Copyright © 2011 Business Insights Ltd This report is published by Business Insights (the Publisher). This report...
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...EU action against climate change Working with developing countries to tackle climate change Europe Direct is a service to help you find answers to your questions about the European Union New freephone number: (*) Certain mobile telephone operators do not allow access to 00 800 numbers or these calls may be billed. 00 800 6 7 8 9 10 11 A great deal of additional information on the European Union is available on the Internet. It can be accessed through the Europa server (http://ec.europa.eu). Cataloguing data can be found at the end of this publication. Luxembourg: Office for Official Publications of the European Communities, 2007 ISBN 978-92-79-06576-7 © European Communities, 2007 Reproduction is authorised provided the source is acknowledged. Printed in Belgium Printed on recycled paper that has been awarded the EU eco-label for graphic paper (http://ec.europa.eu/environment/ecolabel) EU action against climate change Working with developing countries to tackle climate change Introduction EU cooperation with developing countries on climate change Supporting adaptation and capacity building Providing clean and secure energy supplies Stimulating clean development through EU emissions trading Promoting sustainable forestry Assisting developing countries through climate research 5 10 14 17 20 22 24 Introduction As the world’s largest donor of development assistance, the European Union is strongly committed to supporting developing countries...
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...Administration (EMBA) course requirement, we are assigned the topic “Carbon Accounting” by our course teacher for accomplishing our report. 1.2 Objectives of the report ➢ To attain the skill of report writing. ➢ To achieve deep knowledge about Carbon Accounting. ➢ To fulfill the partial requirement of our course of Accounting for Managers. 1.3 Methodology of the report This study was a descriptive research where we have been analyzed mainly secondary data to understand the Carbon Accounting and its application. All the data has gathered for report writing during term. Information collected to furnish this report is mainly from secondary in nature such as related books, journals, periodicals and Websites etc. 1.4 Limitations of the report We have tried our level best to find out the opportunity of work for overcoming the limitation but due to shortage of time, official compulsion and lack of availability of required data it was not possible to collect huge information about the topic. Other limitation is our report is mostly text based. 1.5 What is Carbon Accounting? Carbon accounting refers generally to processes undertaken to "measure" amounts of carbon dioxide equivalents emitted by an entity. It is used by nation states, corporations and individuals. It is the process of measuring, monitoring, benchmarking and reporting an organization Greenhouse Gas Emissions in a defined reporting period. Carbon Accounting is not is a greener form of financial accounting. 1...
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...Compare carbon taxes with emission trading schemes as government policy tools. Introduction Why do we need environmental control Over the last century and a bit the world have added 40% more CO2 to the Earth’s atmosphere. Every year the World collectively add more again than we did the year before. The Earth is on an accelerating drive to change our planet’s atmosphere. The main source of this additional CO2 is the burning of fossil fuels. There is a common consensus that global warming is an effect of increased carbon emission and only a few groups still hold on to the belief that there is no connection between emissions of greenhouse gases (Carbon) with the effect of global warming. The leading scientist have predicted Australia has 5 years to reduce its carbon emission to prevent dangerous climate change which may cause average temperate to increase on average by 2 degrees. For the benefit of Australian farmers, grazers and fisherman to enable them to have the best chance to feed the world, and Australian’s primary industry to have the best opportunities for sustainable growth, measures must be undertaken to reduce carbon emission. Government initiatives is required to correct because environmental control, air quality and climate change are all public goods. Public goods are those that everyone can enjoy and no one can be excluded from enjoying the goods. Since it is a public good, everyone can enjoy but no one actually pay for anything to enjoy the good. Public...
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...BUS 321 Marketing Page 1 of 9 Mid-term Addition Group Assignment April 17, 2007 How the EU is Changing the European Market By Page 2 of 9 Q.1.) Relate this story to the concept of SWOT analysis. Can you find any examples of leverage, problems, constraints, and vulnerabilities? Government officials envision the EU as a single market, an area without internal frontiers in which the free movement of goods, person, services, and capital is assured. This is a tall order in the current European Market as huge benefits are plentiful for some and lacking for others. The countries that are members of the EU house an regulatory environment with which local and multinational firms operate. What is the cost of the current situation for the European Union? The EU is one of the world’s biggest investors in promoting economic and social growth to the European markets. The European Union considers Foreign Direct Investment (FDI) as one of the key solutions to promoting development, economic and social growth to the European Markets. It is within the scope of framework that the EU follows a pro-development approach of long-term investments that will generate stable employment and growth for the European marketplace. The European banking industry has been slow in converting into a modern means of investment opportunities and lacks standardization of banking rules and regulations...
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...Reduce emissions in Sweden with 40 per cent by 2020 – and finance the same amount of reductions in developing countries This position paper focuses on goals and targets in the Swedish national climate policy. Church of Sweden will present a position paper on climate and development in 2008, which will discuss support to climate change mitigation and adaptation in developing countries. Introduction The position of Church of Sweden on climate policy has its starting point in a long-standing commitment to the climate issue within the framework of the World Council of Churches (WCC). The WCC has a consultative status to the United Nations (UN) and has participated as an NGO-representative in the negotiations within the UN Framework Convention on Climate Change (UNFCCC) since the Convention was signed in Rio de Janeiro in 1992. Church of Sweden has on several occasions participated in the WCC delegation at these meetings. The position is also based on the Guidelines for the international department’s work on climate issues and on statements delivered by Church of Sweden to the Swedish government. 1 As will be seen from these documents Church of Sweden believes that Sweden should act from a perspective of global justice in decisions and negotiations concerning climate change. Further, Church of Sweden stresses the urgency for Sweden to pursue a forceful climate policy nationally, as well as internationally, and that early action in the climate issues are of decisive importance. Church...
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...Task 1 Introduction In this task I choose Hanoi Milk Company for an example of private company and Vinamilk Company for an example of state owned enterprise company. I will describe them about the size, legal status, level of activity as well as discussing about their SMART factors. I will also apply Balance Score Card for both of them in order to explain the different between the private and public sector. Major finding To beginning with a stated owned enterprise company, Hanoi Milk Join Stock Company is a private company which is set up in February 2nd, 2001. They produce and sell milk and products made from milk. They also sell material, and other products for the food processing industry, etc. In this report I want to mention about their main activities is selling milk products include fresh milk and yoghurt. After ten years existence and development, Hanoimilk has reached a lot of achievement and awards such as certificate of ISO, HACCP, gold cup of Vietnam company joined to WTO, etc. Hanoimilk is one of the most famous companies about milk producing of Vietnam. However, follow their public website and their financial statements; Hanoi Milk has a middle size business with a small number of staff. In 2010, Hanoimilk has 385 staffs but until 2011, this company decrease the number of staff to 329 employees – fail 15 percent compare with 2010. About the mission statement of Hanoimilk, they want to develop and improve Hanoimilk to a specialise company about milk products...
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...that allow one to be socially responsible. Certain responsibilities may carry dire consequences to the public and ultimately, the industry itself, if they are not taken very seriously. Thus, industries find that such laws are important to safeguard their good image to the public and retain the public’s trust in them. This is to ensure that they will not lose their capabilities to maximize profits in this ever changing world economy. One particular industry that is firm in following such laws will be the aviation and the airline industries. In any airline industry, the safety of the passengers is their top priority. No one will be daring enough to board an airplane if the aviation crew repeatedly failed to search for any fault within the plane before it is ready for flight. Thus, it is up to the crew, consisting of engineers and technicians, to ensure that every plane has to be thoroughly checked, repaired and fueled before any departure happens. Hence, it is their social responsibility to ensure so. Such responsibility may seem too heavy for some employees, including the fact that they are carrying a huge weight on their shoulders. It takes one mistake or negligence and that is sufficient enough to throw thousands of lives in danger. Negligence may happen if the crew does not take external factors into consideration. External factors such as weather plays an important role in the crew’s decision making whether the plane...
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