Before the Thanksgiving food coma sets in, read the latest from the v-carbon world – including a glimpse into Durban coverage. In addition: Australia has a new carbon law; there has been progress in China’s regional pilot emissions trading programs; and a new study has been released looking at the economic benefits of RGGI.
NOTE: This article has been reprinted from Ecosystem Marketplace’s Voluntary Carbon newsletter. You can receive this summary of global news and views from the world of voluntary carbon automatically in your inbox by clicking here.
21 November 2011 | Before the Carbon team gets to eating far too much turkey and corn bread at our respective Thanksgiving Dinners, we’ve been putting in long hours to make sure we deliver some great resources to make following the COP 17 events and negotiations a breeze, even if you can’t make it to Durban. We’ve highlighted side events we think our readers travelling to the COP will be interested in.
We’re also going to have great new content up this week, including pre-Durban must-reads and a guide to post-Cancun, pre-Durban decisions and discussions that will inform this year’s COP.
Now, the news: We saw Australia’s carbon law, which established a carbon tax in 2012 and a market in 2015, pass in the senate. Gillard seemed emboldened by the passage of the law, speaking to Carbon Expo attendees (video) in Melbourne, saying “The time for words was yesterday, the time for action is today.” Her cabinet were busy discussing possible links to the EU and NZ carbon markets, while Gillard tactfully discussed the legislation with President Obama, who applauded the efforts of Gillard but made no indication that the U.S. would pursue a simliar strategy.
There was progress in China’s efforts to launch regional pilot emissions trading programs around the country, as China’s Industrial Bank Co. signing an agreement with the Shanghai Environment and Energy Exchange to provide banking for the planned market, which is set to launch in 2013. 10 businesses bought over 140,000 tonnes of offsets in the first sale of credits for the China Green Carbon Foundation’s pilot voluntary program, which will use forest revenue from forest carbon projects to fund increased forest cover to reach the ambitious targets set out in China’s 12th 5 year plan.
A new study from the Analysis Group must have Governors Christie and Lynch of New Jersey and New Hampshire fuming. It shows that RGGI delivers positive economic results for participating states. The two governors, backed by the republican parties in those states, advocated for bowing out of the regional initiative, citing job loss and negative economic growth as reasons – the opposite of what the study found.
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