Air traffic CO2 emissions to triple by 2050
According to a study "Sustainable Aviation" by Booz&Company the emissions caused by air transport are to triple by 2050. The findings of the study stand in stark contrast to the IATA (International Air Transport Association) targets set in 2009. The IATA aim is to reduce the emissions by half until 2050 compared to the aircraft emissions in 2005. Currently, about 250 million tons of fuel is used per year for air traffic. This amount will according to the study double in the next 15 years at an average annual growth of 4.5%, reported TouristAustria.at. The largest boom is expected in Asia and Middle East, especially in India and China. Today, air traffic is responsible for only 2% of the global emissions. The calculations of IATA claim to increase the fuel efficiency by 1.5% until 2020. Booz & Company nevertheless considers this goal to be unachievable. A common aircraft is usually in operation for about 30-40 years. Thus the new and more efficient aircraft will not replace the old ones as quickly as necessary. To read this article in full click here
Major investors seek new carbon emissions treaty
Large investors representing more than $20 trillion (euro14.62 trillion) in assets urged governments on Wednesday to sign a binding treaty on carbon emissions at the U.N. climate talks in South Africa in December. A group of 285 investors say only legally enforceable carbon limits can spur the level of investment needed to keep temperatures from rising further. The group includes three major investor networks in the U.S., Europe, Australia and New Zealand. Stephanie Pfeifer, executive director of the London-based Institutional Investors Group on Climate Change, said that raising enough capital to meet climate change goals "will only be possible when low carbon investments are seen as attractive relative to higher carbon investments." The group includes HSBC Investments, BBC Pension Trust, Hermes, BNP Paribas, Sarasin & Partners and many other of the largest pension funds and asset managers in Europe, with assets of around $10 trillion. To read this article in full click here
UN Board May Use Sampling to Approve Carbon Projects in 2012
The United Nations-overseen carbon credit executive board may use sampling to speed approvals for projects and offsets as early as next year, Chairman Martin Hession said in London. A “risk-based” assessment model would mean the Clean Development Mechanism executive board could closely assess a portion of projects and credit-supply requests instead of investigating each application as it currently does, Hession. A record of at least 592 projects entered the validation stage of the CDM program in the three months ended September, about 14 percent of all projects seeking registration under the program of the 1997 Kyoto Protocol. Almost 3,000 projects have been approved since the program started. Emission reduction projects are seeking registration by the end of next year because of a deadline imposed by the European Union, whose factories and power stations are the main buyers of credits. To read this article in full click here
Volvo tops list for cutting carbon
Volvo tops the list of European carmakers for cutting carbon emissions, research shows.
The European Federation for Transport and Environment (T&E) analysis shows that European vehicle manufacturers reduced carbon emissions by an average of 2% to 6% last year. By comparison, Swedish carmaker Volvo stood out with an average CO2 emission reduction of 9%. Stefan Jacoby, president and chief executive of Volvo Car Corporation, said: "We are delighted and very proud of this result. We are following our ambitious plan which puts the spotlight on cutting carbon dioxide emissions." To read this article in full click here
California approves carbon market rules
California regulators on Thursday approved final regulations for a carbon market that is one of the biggest U.S. responses to climate change. The state believes the market for greenhouse gases, which starts in 2013, will let it address global warming in a low-cost way and become the center of alternative energy industries, like solar, although some businesses fear higher energy prices. The most populous U.S. state is moving ahead with the plan years after federal regulators rejected a similar idea for the nation, partly on concerns of the effect on businesses. The California Air Resources Board voted 8-0 to adopt the market regulations, which officials said are critical to the state's goal of cutting carbon emissions to 1990 levels by 2020 -- about a 22 percent reduction from forecasted business-as-usual output. To read this article in full click here
Uncertainty casts shadow over UK's green economy hopes
A boom in solar panel installations. A sizeable cash injection to fund renewable forms of heating. A "carbon budget" that binds the UK to some of the toughest greenhouse gas emissions targets in the world. The promise of a new programme to encourage the mass take-up of home insulation.
These have all been signal achievements of environmental policy in the first year and a bit of the UK's coalition government. The Department of Energy and Climate Change has made policy announcements at a brisk pace, dealing with issues from renewable energy to the "green deal" that is intended to make millions of homes more energy-efficient from next year. Yet none of these policies has been exactly trouble-free. Take solar power. The introduction of feed-in tariffs sparked a massive rise in the number of households and businesses installing photovoltaic panels. But months after the boom began, ministers becameconcerned that a proportion of the funds available would be taken up by large scale, field sized solar panel arrays, and so cut the subsidy rates for large scale systems. That caused an outcry and scared off potential investors. To read this article in full click here
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