General Carbon Newsletter - May 2011

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General Carbon Newsletter - May 2011

  1. 1. General Carbon NewsletterMONTHLY CARBON NEWSLETTER MAY 2011, ISSUE:04Point of View PROJECT HIGHLIGHTS The issuance of CERs was fairlyUnlike the past where people were optimistic of an high in April 2011, at 29.1mn.outcome from the COP meetings (like Copenhagen andCancun), there seems to be a unanimous feeling that no Togo entered into CDM with itslegally binding agreement is possible in Durban. A first project “Togo Compactvoluntary accord is something that the carbon market is Fluorescent Lamp (CFL)learning to live with, and will have to for some time to distribution project”.come. The events at Fukushima have increased thefocus on fossil fuel as a source of power while also Along with Gambia, Burkinabringing some attention on renewable energy. However, Faso, and Senegal, Togo isthe ability of the unfortunate events to catalyze the already participating in the multi- country POA “Promoting Efficientdevelopment of a credible climate policy has been Stove Dissemination and Use inminimal. West Africa”.The CDM Executive Board met in Bangkok in April, 4 new POAs entered the CDMwhere two new DOEs were approved: Carbon Check, pipeline.which will be the first DOE from Africa, and KBSCertification, from India. More feedback and dialogue on Five new small-scale approvedREDD+, which includes IETA publications on the CDM methodologies and anopportunity, were published during the month. Afforestation / Reforestation methodology have been added toDomestic schemes are on the anvil in key developing the CDM system.markets such as China, which has announced plans foran energy intensity improvement scheme with targets of VCS VER PRICE WATCH16% on average by 2015. The PAT scheme by the IndianBureau of Energy Efficiency is also heading towards India, China:implementation with final approvals underway. South Renewables, EEAfrica is awaiting parliamentary approval for introducing a Pre 2008 vintagescomprehensive carbon tax by mid 2012. US$ 0.50- 1.00 Post 2008 vintages US$ 1.00-2.75Best, Renewables, EE- Pre CDMSatish Kashyap Pre 2008 vintages US$ 0.50-2.00 Post 2008 vintages US$ 2.00-3.50 Industrial gases, others Pre 2008 vintages US$ 0.25-0.50 Post 2008 vintages US$ 0.50-1.00
  2. 2. Rest of Asia, Africa: Renewables, EE Pre 2008 vintages US$ 1.00-2.00Aviation Sector – Preparing for Emission Post 2008 vintagesReduction US$ 2.00-4.00 Renewables, EE- Pre CDM Pre 2008 vintagesEU emissions from aviation have almost doubled since US$ 1.50-3.001990. It is estimated that a passenger flying from Post 2008 vintagesBrussels to New York and back in economy class US$ 2.00-5.00generates ~800 kg of CO2. Aviation represents around10% of greenhouse gas emissions covered by the EU Industrial gases, othersETS. The EU has decided to impose a cap on CO 2 Pre 2008 vintagesemissions from flights operating to and from EU airports, US$ 0.25-1.00from the start of 2012. About 4,000 aircraft operators Post 2008 vintages US$ 0.50-1.00arriving and departing from the EU will be covered by thenext phase of the EU ETS. Like industrial installations,airlines will receive tradable allowances covering acertain level of CO2 emissions from their flights per year. CDM EB NEWSThe historical aviation emissions of 219,476,343 tonnes EB calls for public inputs onCO2 represent the average of the estimated annual water purification methodologyemissions for 2004, 2005 and 2006. The number of AMS-III.AVaviation allowances to be created in 2012 amounts to212,892,052 tonnes of CO2, which would generate an Transitional Committee meets foroffset demand of 70 - 90 million offsets according to our the first time for the design of theanalysis. 82% of the allowances will be given to aircraft Green Climate Fund.operators while 15% of the CO2 allowances will beallocated by auctioning. The remaining 3% will be Amendments in "Guidelines for demonstrating additionality ofallocated to a special reserve for later distribution to fast microscale project activities" -growing airlines and new entrants into the market. By Inclusion of Type III projectSeptember 2011 the Commission will publish a decision activities; the cap for eachspecifying the allocation of aviation allowances, as well subsystem for "distributed energyas the benchmark to be used for allocation of allowances generation" project activity isto aircraft operators free of charge. increased from 750kW to 1500kW.European Aviation Allowances (EUAAs) will be pricedsomewhere between UN carbon credits and EUallowances (EUAs). Around 4,000 airlines will be forcedto buy EUAAs at prices between €16 and €22 next year, OTHER CARBON NEWSwhen all airlines touching down or taking off in the EU willhave their emissions capped. Various analysts have Japan greenhouse gasprojected prices to rise to as high as €25 by 2020. emissions hit record low in 2009/10 CDM board accredits Africa’s first auditor World Bank raises $154 million from selling CERs Major polluters say 2011 climate
  3. 3. deal "not doable" Estonia issues first EUAs in twoTokyo Cap And Trade Program by Tokyo yearsMetropolitan Government States, Utilities Ask EPA toThe mandatory Cap And Trade (CAT) scheme launchedby the Tokyo metropolitan government in early 2010 is Boost Regional Cap-And-TradeAsia’s first CAT scheme. PlansTokyo envisions reducing GHG emissions by 25% from China Transacts First Panda2000 levels by 2020. Standard VERsEntities covered are 1400 offices, commercial building andfactories that consumer over 1500 Kilo liters of energy in Indonesia’s Yudhoyono promisescrude oil equivalent. incentives to develop degradedIn the first phase of this scheme, from years 2010 to 2014, landthe entities are required to cut CO2 emissions by either 6%from base-year levels that are calculated from average Business Roundtable Urges EPAemissions over a period of three consecutive years to Drop Its U.S. Greenhouse-between fiscal 2002 and 2007. Gas RegulationsIn the second phase, from 2015 to 2019, these entitieshave to further cut emissions by 17% from their base-year Russia Says It Won’t Be Forcedlevels. by the UN to Fund Poor-Nation Climate AidIn phase 1, allowances are given out to the entities for 5years, based on their historic emissions. Samsung Group to spend $7Further, emission reduction targets can be met by their billion to build green energyown efforts including implementation of energy-saving complexequipment and processes, or purchase emissions creditsfrom other entities that have reduced CO2 emissions morethan obligated levels. Trade shifts help rich meet climate goals: studyThe entities can also buy emission credits from small- andmedium-sized companies in Tokyo and their branch offices Australian carbon scheme facesoutside the capital, which are not obligated to cut theiremissions, but participate in GHG reduction projects. growing oppositionPower generators that issue renewable energy certificates Fiji to install first geothermalcan be also purchased by the targeted entities to offset stationtheir emissions.Credits issued outside of Tokyo cannot exceed a third of Bilateral relations Indonesia,the emission cuts required of participating entities. China to cooperate in developing renewable energyIf the entities fail to comply, the government could imposea further 1.3 times the amount of CO2 they failed to reducein the first phase, apart from monetary fines.
  4. 4. EDITORSVinodini Chitrakaran,vinodini.c@general-carbon.comRameez Shaikh,rameez.shaikh@general-carbon.comGERERAL CARBON PTE LTD16 RAFFLES QUAY, #33-03 HONGLEONG BUILDING,SINGAPORE 048581.This newsletter is brought to youby General Carbon. Contactgcnews@general-carbon.com ifyou have any queries orcomments or wish to contributenews and updates. We welcomeyour suggestions andcontributions.If you wish to unsubscribe fromthis newsletter please reply tothis email with “unsubscribe” inthe subject line.General Carbon is a leadingemission reduction consulting,sustainability advisory andinvestment firm with presenceacross Singapore, India, SriLanka, Thailand, Philippines,Indonesia, South Africa, Nigeria,Ethiopia and Kenya.

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