Carbon Credits Archives - Page 3 of 3 - Environment + Energy Leader

EU’s Reverse VAT on Carbon Offsets Intended to Reduce Fraud

October 7, 2009October 21, 2009 by Paul Nastu

To cut down on fraud in the carbon trading market, the European Union is proposing a reverse payment scheme for value added taxes (VAT) on carbon trading, reports Carbon Offsets Daily. The EU directive would have a company send paperwork to the Treasury paying the VAT and at the same ... Read more »

UK Gives Tesco, Hilton 1-Year Passes on Buying Carbon Permits

October 7, 2009October 21, 2009 by Paul Nastu

Larger non-utility, non-manufacturer polluters in the UK are getting a one-year reprieve on having to purchase carbon offsets, reports Bloomberg. Starting in April 2011, large companies such as Tesco, Hilton and Kingfisher, among others, will have to purchase offsets at about $19 per ton of emissions. The companies must begin ... Read more »

California Forest Carbon Credit Standards to go National

September 4, 2009October 19, 2009 by Gina Roos

The board of the California-based Climate Action Reserve (CAR) voted for the final adoption of Version 3.0 of its Forest Project Protocol, which paves the way for national application of the standard, and helps improve the environmental integrity of carbon credits in the U.S., reports Carbon Positive. Germany’s CarbonFix Standard ... Read more »

Unwitting Businesses May Pay Twice in UK Carbon Credit Scam

August 31, 2009October 19, 2009 by Gina Roos

Businesses that unknowingly participated in a suspected carbon trading scam could face millions of dollars in legal fees and penalties, reports the UK Sunday Times. Any company involved in the scheme may be subject to an audit. Uncovered by HM Revenue & Customs (HMRC) in January, this “carousel fraud” involves ... Read more »

British Taxpayers May Pay Price for Missed Emission Targets

August 5, 2009October 21, 2009 by Gina Roos

Britain may have to purchase carbon credits from private companies in a new carbon trading scheme set to begin in 2010 to help them meet their national greenhouse gas emissions targets, reports Reuters. The latest report on Greening Government from an influential parliamentary committee says Britain’s government may miss its ... Read more »

Global Voluntary Carbon Market Doubled in 2008 to $705M

May 20, 2009October 19, 2009 by Paul Nastu

With an estimated 123 million tons of carbon credits traded in 2008, the voluntary carbon market across the world nearly doubled from the 65 million tons of credits traded in 2007. The 2008 credits traded at a combined value of about $705 million, up from the $331 million in 2007, ... Read more »

Abbott Cuts CO2 Emissions and Water Use by 15% in 2008

April 30, 2009October 18, 2009 by Gina Roos

Abbott has reduced its CO2 emissions and water use by 15 percent in 2008, according to the company’s 2008 Global Citizenship Report. The report provides an update on the global healthcare company’s progress and results in 2008 in four key areas: innovating for the future, enhancing access, safeguarding the environment, ... Read more »

Deloitte Details Risks in North American Carbon Markets

April 17, 2009October 18, 2009 by Gina Roos

As supply and demand for North American carbon credits develops, businesses need to react accordingly to these emerging U.S., Canadian, and cross-border carbon markets, according to the latest white paper from Deloitte LLP. The whitepaper, “Confronting the Carbon Challenge: Business Implications of the Developing North American Carbon Markets,” provides an ... Read more »

Excessive EU Carbon Credits Result in Big Profits

April 13, 2009October 18, 2009 by Paul Nastu

European steel companies were awarded far more carbon credits than they needed and have reaped a windfall in profits. Steelmakers received a surplus of credits worth about $1.2 billion, based on 2008 carbon prices, according to Reuters. Some critics of establishing a cap-and-trade system in the United States have pointed ... Read more »

EU Carbon Prices Rally After Utilities Fail to Hit Reduction Targets

April 2, 2009October 18, 2009 by Paul Nastu

European utilities and other emitters of greenhouse gases are upping their purchases of carbon credits after failing to meet year-end targets, sending the price for carbon credits upward. Many European entities, which operate on an April to March fiscal cycle, failed to adequately reduce their carbon emissions, according to Bloomberg. ... Read more »

Forest-Saving Credits Could Sink Carbon Pricing

March 31, 2009October 18, 2009 by Gina Roos

Awarding tradable credits to countries that reduce deforestation could result in plunging carbon prices worldwide, and worsen global warming by pulling investors away from renewable energy, according to a study by New Zealand-based economic modelers KEA 3 for Greenpeace International, reported Bloomberg News. Greenpeace said the study indicated that countries ... Read more »

Purdue Helps Company Reduce Energy Ahead of Projection

March 25, 2009December 14, 2010 by Gina Roos

Indiana companies are saving energy and reducing operating costs thanks to the Energy Efficiency Program offered by the Indiana Manufacturing Extension Partnership Center through Purdue University’s Technical Assistance Program (TAP). TAP’s energy assessment looks at ways to decrease utility bills, decrease production costs and cut emissions throughout facilities. One company ... Read more »

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