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Flexibility Mechanisms
Flexible mechanisms, also sometimes known as Flexibility Mechanisms or Kyoto Mechanisms, refers to emissions trading, the Clean Development Mechanism and Joint Implementation. These are mechanisms defined under the Kyoto Protocol intended to lower the overall costs of achieving its emissions targets. These mechanisms enable Parties to achieve emission reductions or to remove carbon from the atmosphere cost-effectively in other countries. While the cost of limiting emissions varies from region to region, the benefit for the atmosphere is in principle the same, wherever the action is taken. Much of the negotiations on the mechanisms has been concerned with ensuring their integrity. There was concern that the mechanisms do not confer a "right to emit" on Annex 1 Parties or lead to exchanges of fictitious credits which would undermine the Protocol's environmental goals. The negotiators of the Protocol and the Marrakesh Accords therefore sought to design a system that fulfilled the cos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Carbon Emission Trading
Carbon emission trading (also called carbon market, emission trading scheme (ETS) or cap and trade) is a type of emissions trading scheme designed for carbon dioxide (CO2) and other greenhouse gases (GHGs). A form of carbon pricing, its purpose is to limit climate change by creating a market with limited allowances for emissions. Carbon emissions trading is a common method that countries use to attempt to meet their pledges under the Paris Agreement, with schemes operational in China, the European Union, and other countries. Emissions trading sets a quantitative total limit on the emissions produced by all participating emitters, which correspondingly determines the prices of emissions. Under emission trading, a polluter having more emissions than their quota has to purchase the right to emit more from emitters with fewer emissions. This can reduce the competitiveness of fossil fuels, which are the main driver of climate change. Instead, carbon emissions trading may acceler ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Carbon Credit
Carbon offsetting is a carbon trading mechanism that enables entities to compensate for offset greenhouse gas emissions by investing in projects that reduce, avoid, or remove emissions elsewhere. When an entity invests in a carbon offsetting program, it receives carbon credit or offset credit, which account for the net climate benefits that one entity brings to another. After certification by a government or independent certification body, credits can be traded between entities. One carbon credit represents a reduction, avoidance or removal of one metric tonne of carbon dioxide or its Global warming potential, carbon dioxide-equivalent (CO2e). A variety of greenhouse gas reduction projects can qualify for offsets and credits depending on the scheme. Some include forestry projects that avoid logging and plant saplings, renewable energy projects such as wind farms, biomass energy, biogas digesters, Hydroelectric Dams, hydroelectric dams, as well as Efficient energy use, energy ef ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Equity (economics)
Economic equity is the construct, concept or idea of ''fairness'' in economics and ''justice'' in the distribution of wealth, resources, and taxation within a society. Equity is closely tied to taxation policies, welfare economics, and the discussions of public finance, influencing how resources are allocated among different segments of the population. Overview According to Peter Corning, there are three distinct categories of substantive fairness (equality, equity, and reciprocity) that must be combined and balanced in order to achieve a truly fair society. But while most of middle-income countries increased inequality in recent years, it is important to note that middle classes and—to a lesser extent—poorer-income groups seem to be getting an increasing share of income in recent years. To some, this advance is still vulnerable and needs to be quickly accelerated in the 21st century Definitions of equity Equity in economics refers to a condition of fairness where the econo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
IPCC Second Assessment Report
The Second Assessment Report (SAR) of the Intergovernmental Panel on Climate Change (IPCC), published in 1995, is an assessment of the then available scientific and socio-economic information on climate change. The report was split into four parts: a synthesis to help interpret UNFCCC article 2, ''The Science of Climate Change'' (Working Group I), ''Impacts, Adaptations and Mitigation of Climate Change'' (WG II), ''Economic and Social Dimensions of Climate Change'' (WG III). Each of the last three parts was completed by a separate Working Group (WG), and each has a Summary for Policymakers (SPM) that represents a consensus of national representatives. The SPM of the WG I report contains the following statements: Greenhouse gas concentrations have continued to increase; anthropogenic aerosols tend to produce negative radiative forcings; climate has changed over the past century (air temperature has increased by between 0.3 and 0.6 °C since the late 19th century; this estimate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Intergovernmental Panel On Climate Change
The Intergovernmental Panel on Climate Change (IPCC) is an intergovernmental body of the United Nations. Its job is to "provide governments at all levels with scientific information that they can use to develop climate policies". The World Meteorological Organization (WMO) and the United Nations Environment Programme (UNEP) set up the IPCC in 1988. The United Nations General Assembly, United Nations endorsed the creation of the IPCC later that year. It has a secretariat in Geneva, Switzerland, hosted by the WMO. It has 195 Member states of the United Nations, member states who govern the IPCC. The member states elect a bureau of scientists to serve through an assessment cycle. A cycle is usually six to seven years. The bureau selects experts in their fields to prepare IPCC reports. There is a formal nomination process by governments and observer organizations to find these experts. The IPCC has three working groups and a task force, which carry out its scientific work. The IPCC ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Economics Of Climate Change Mitigation
An economic analysis of climate change uses economic tools and models to calculate the magnitude and distribution of damages caused by climate change. It can also give guidance for the best policies for mitigation and adaptation to climate change from an economic perspective. There are many economic models and frameworks. For example, in a cost–benefit analysis, the trade offs between climate change impacts, adaptation, and mitigation are made explicit. For this kind of analysis, integrated assessment models (IAMs) are useful. Those models link main features of society and economy with the biosphere and atmosphere into one modelling framework. The total economic impacts from climate change are difficult to estimate. In general, they increase the more the global surface temperature increases (see climate change scenarios). Many effects of climate change are linked to market transactions and therefore directly affect metrics like GDP or inflation. However, there are also non- ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Emissions Trading
Emissions trading is a market-oriented approach to controlling pollution by providing economic incentives for reducing the emissions of pollutants. The concept is also known as cap and trade (CAT) or emissions trading scheme (ETS). One prominent example is carbon emission trading for and other greenhouse gases which is a tool for climate change mitigation. Other schemes include sulfur dioxide and other pollutants. In an emissions trading scheme, a central authority or governmental body allocates or sells a limited number (a "cap") of permits that allow a discharge of a specific quantity of a specific pollutant over a set time period. Polluters are required to hold permits in amount equal to their emissions. Polluters that want to increase their emissions must buy permits from others willing to sell them. Emissions trading is a type of flexible environmental regulation that allows organizations and markets to decide how best to meet policy targets. This is in contrast to comma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Global Warming Solutions Act Of 2006
The Global Warming Solutions Act of 2006, or Assembly Bill (AB) 32, is a California state law that fights global warming by establishing a comprehensive program to reduce greenhouse gas emissions from all sources throughout the state. AB32 was co-authored by Assemblymember Fran Pavley (D-Agoura Hills) and Speaker of the California Assembly Fabian Nunez (D-Los Angeles) and signed into law by Governor Arnold Schwarzenegger on September 27, 2006. On June 1, 2005, Governor Schwarzenegger signed an executive order known as Executive Order S-3-05, which established greenhouse gas emissions targets for the state. The executive order required California to reduce greenhouse gas emissions to 2000 levels by 2010, to 1990 levels by 2020, and 80% below 1990 levels by 2050. However, to implement this measure, the California Air Resources Board (CARB) needed authority from the legislature. The California State Legislature passed the Global Warming Solutions Act to address this issue and gav ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Chicago Climate Exchange
The Chicago Climate Exchange (CCX) was a voluntary, legally binding greenhouse gas reduction and trading system for emission sources and offset projects in North America and Brazil. CCX employed independent verification, included six greenhouse gases, and traded greenhouse gas emission allowances from 2003 to 2010. The companies joining the exchange committed to reducing their aggregate emissions by 6% by 2010. CCX had an aggregate baseline of 680 million metric tons of equivalent. CCX ceased trading carbon credits at the end of 2010 due to inactivity in the U.S. carbon markets, although carbon exchanges were intended to still be facilitated. History Until 2010 CCX was operated by the public company Climate Exchange PLC, which also owned the European Climate Exchange. Richard Sandor, creator of the Sustainable Performance Group, founded the exchange and has been a spokesman for it. The exchange traded in emissions of six gases: carbon dioxide, methane, nitrous oxide, sul ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Western Climate Initiative
Western Climate Initiative, Inc. (WCI) is a 501(c)(3) non-profit corporation which administers the shared emissions trading market between the American state of California and the Canadian province of Quebec as well as separately administering the individual emissions trading systems in the Canadian province of Nova Scotia and American state of Washington. It also provides administrative, technical and infrastructure services to support the implementation of cap-and-trade programs in other North American jurisdictions. The organization was originally founded in February 2007 by the governors of five western states with the goal of developing a multi-sector, market-based program to reduce greenhouse gas emissions; it was incorporated in its current form in 2011. Structure Since its reincorporation in 2011 as a non-profit corporation, WCI is governed by a Board of Directors appointed by the participating jurisdictions. Each jurisdiction appoints two voting directors to the Board. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Regional Greenhouse Gas Initiative
The Regional Greenhouse Gas Initiative (RGGI, pronounced "Reggie") is the first mandatory market-based program to reduce greenhouse gas emissions by the United States. RGGI is a cooperative effort among the states of Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York (state), New York, Rhode Island, Vermont, and Virginia to cap and reduce carbon dioxide (CO2) emissions from the power sector. RGGI compliance obligations apply to fossil-fueled power plants 25 megawatts (MW) and larger within the 11-state region. Pennsylvania, Pennsylvania's participation in the RGGI cooperative was ruled unconstitutional on November 1, 2023, although that decision has been appealed. North Carolina's entrance into RGGI has been blocked by the enactment of the state's fiscal year 2023–25 budget. RGGI establishes a regional cap on the amount of CO2 pollution that power plants can emit by issuing a limited number of Carbon emission trading, tradable CO2 allowanc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
New South Wales Greenhouse Gas Abatement Scheme
The New South Wales Greenhouse Gas Abatement Scheme (also known as GGAS) was a mandatory greenhouse gas emissions trading scheme that aimed to lower greenhouse gas emissions in New South Wales, Australia, to 7.27 tonnes of carbon dioxide per capita ''Per capita'' is a Latin phrase literally meaning "by heads" or "for each head", and idiomatically used to mean "per person". Social statistics The term is used in a wide variety of social science, social sciences and statistical research conte ... by the year 2007, which commenced on 1 January 2003. The Scheme imposed obligations on NSW electricity retailers and certain other parties, including large electricity users who elected to manage their own benchmark to abate a portion of the greenhouse gas emissions attributable to their sales/consumption of electricity in NSW. They did this by purchasing and acquitting NSW Greenhouse Abatement Certificates (also known as NGACs), a type of carbon credit, created by accredited "Abateme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
