Emissions trading

resources provided to obtain greenhouse gas (GHG) emission reductions. Recognizing the impacts and threats of global climate change, governments and other entities have met annually at the Conference of the Parties (COP) of United Nations Framework Convention on Climate Change (UNFCCC) since 1995. The Kyoto Protocol was adopted in 1997, in which 36 industrialized countries (called the Annex B countries) committed collectively to reduce emissions of six main GHG by an average of 5% against the 1990 levels during the First Commitment Period of 2008 to 2012. Fifteen European Union countries committed to reduce emissions by 8%; the United States committed to a 7% reduction. Some…

fossil fuel prices, trading appetite of large corporations, and so on. Even a colder-than-expected winter can be a bullish signal to the carbon market. Historically, two significant price drops occurred as a result of the global financial crisis in 2008 and 2009, and a series of political events at the national and international level around 2012. The 2008 financial crisis Figure 2 shows the historical price trend of EUA and CER, the two most important compliance credits. The 2008 financial…

party, they state their stand on climate change and produce possible solutions to help tackle against climate change. The Liberals plan to create new programs like “Low Carbon Economy Trust” and try to be more “flexible” around provinces by allowing provinces to make their own carbon-pricing policies to help reduce carbon emissions and fossil fuel burning. The Liberal Party are committing $2 billion towards Low carbon economy that would fund projects that would try to reduce the carbon…

Kyoto Protocol to the UNFCCC (2005) The Agreement and its Goals: The Kyoto Protocol is an international agreement linked to the United Nations Framework Convention on Climate Change (UNFCCC) which aimed to mitigate anthropogenic effects of greenhouse gases on the environment by introducing a set of binding emission reduction targets for individual countries. Considering the threatening scale of the problem and the wide geographical distribution of GHG emissions, the Protocol required…

Working for a lower level upwards allows for more progression and increased efficacy of resolving a problem. As every place differs from another the idea of using cap and trade within the bottom up approach allows for the bigger more energy efficient companies to trade their carbon cap trade to other business. When looking at the top down approach we can connect that to the Kyoto Protocol. The Kyoto protocol is a treaty signed internationally in 1992 at the United Nations Framework Convention on…

Firstly, and most critical, our earth’s water systems are gradually, but increasingly, off balance. Emissions from heat-trapping gases resulting from human activity, especially from the use and burning of fossil fuels for the functioning in everyday living, is causing drastic warmth in temperature, dangerously heating up the atmosphere. This has resulted in the melting of the cryosphere. In other words, Earth’s frozen water in the oceans surrounding the boarders of Antarctica and the Arctic is…

Climate Change is a worldwide phenomenon, that affects the regular conditions of the environment. Historically, there have been several conventions, as the Kyoto Protocol, in order to address this problem. However, only until the Paris Agreement, countries have committed to take actions to mitigate this issue. In fact, Canada did not demonstrate any interest in the subject, but rather the provinces took the initiative and started to use regulations to reduce CO2 emissions. By 2015, Canada has…

In 1992, Tanzania had its first national energy policy and the latest national energy policy was published in 2003. The national policy 2003 mainly focused on the national energy needs in Tanzania, and in the policy, to develop domestic cost effective energy resources, to improve energy reliability, efficiency and security, and to reduce deforestation were also highlighted as the subsidiary objectives. 2003 national energy policy put climate change concept in its content, and it is the first…

even jail time if broken. 2010 to 2015 government policy: environmental quality - GOV.UK. (2015). Therefore, many companies have an ‘Environmental Policy Act’ which highly affects civil engineers. This is a written commitment that states what the company does to aim for a sustainable project. The Act encompasses many task such as; - Minimising waste from the project, as excess waste leads to accumulation and can cause many harmful side effects to both people and the environment. - Minimise…

causing environmental impacts for Australia and ultimately world wide. Julia Gillard commenced the carbon tax as of July 1, 2012, the beginning of the financial year with the price at $23 per tonne emitted. The tax was to be paid per tonne released. In 2013, the tax rose $1.15 and as of July 1, 2013 the carbon tax sat at $24.15 per tonne emitted for the following financial year. In 2014. “Australia’s total emissions fell 0.1 per cent in the first year…