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The basis for this development are the commitments of the developed countries and economies in transition in the Kyoto Protocol to reduce their green house gas (GHG) emissions in the period 2008–2012 at least by 5% compared to 1990 levels. The 15 member states of the former European Union (EU 15) have committed themselves to reduce their GHG emissions by 8%, corresponding to approximately 340 million t CO2 equivalent per year. By now the EU 15 has reduced its GHG emissions by 1,7%. Another 6,3 % or 270 million t CO2 equivalent per year still have to be reduced.
As preparation for the international emission trading system which will start in 2008 the European Union has implemented an internal emission trading scheme which started already in January 2005. Beside direct emission reductions in the member states some countries intend to utilise carbon credits from CDM and JI projects for their compliance. As a result to this an international demand for carbon credits from CDM and JI projects is emerging.
Carbon credits can be generated by reducing the so-called Kyoto GHG: CO2, CH4,N2O, PFC, HFC, SF6. Typical projects are:
- methane gas capture, such as: landfill gas, coal mine gas, biogas
- utilization of renewable energies such as: biomass, hydro power, wind energy
- fuel switch, such as: coal to gas or fuel oil, fossil fuels to renewable energies
- energy efficiency within the production of electricity and thermal energy
- energy efficiency or change of production processes in the industry e.g. within the production of steel, glass, ceramics, lime, cement, pulp and paper, fertiliser, refrigerants as well as in the chemical industry, refineries, fossil fuel exploration etc.
Emission reductions are internationally forced and financially supported by issuance of tradable carbon credits. Project activities can receive additional income by generating and selling carbon credits. This will raise investments in efficient modern and clean technologies and support progress, growth and sustainable development. Suppliers of technologies and producers of plants derive in turn benefits from the increasing global demand for modern and efficient plants.
CDM and JI offer advantages to both, developing and industrialised countries:
- Industrialised countries have additional opportunities to generate carbon credits that can be used for compliance in the EU Emission Trading Scheme.
- Bearing in mind that due to the lower technical standard in developing countries GHG reduction potentials are higher than in developed countries reductions can be achieved more cost efficient in developing countries than in industrialised countries. This makes developing countries to attractive partners for CDM or JI project activities. Consequently companies decide to invest. This supports the modernisation of the economy in developing countries.
CARBON EXPO: Welcome back to Barcelona!
We are delighted to welcome you back to Barcelona for the 8th edition of CARBON EXPO, the World's leading Trade Fair & Conference for Climate and Carbon Finance, Emissions Trading and Carbon Abatement Technologies, jointly organised by the International Emissions Trading Association (IETA), the World Bank and Fira de Barcelona.
Over seven years, CARBON EXPO has established itself as the true Global Platform for Carbon Markets.
The last edition brought together over 250 exhibitors, around 3,000 visitors coming from 111 countries and more than 40 CDM / JI host countries. Carbon Expo serves as an annual international platform to share information, best practices, and know-how and provides a business networking opportunity within the context of emissions trading, carbon abatement solutions and new technologies.
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