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Beyond Kyoto

In Bali in December last year, the US finally agreed to get on track towards a binding agreement on climate change. But, asks Mike Scott, what has actually been achieved?

'Every industry should be an environmental one'

He's been environment minister for less than a year, but David Miliband has a clear vision for the environmental performance of business

Making cents

In the wake of Hurricane Katrina, Louis Perroy argues that financial institutions are ignoring at their peril the risks posed by climate change

Edie Environmental Legislation Summary (September 2005)

Recent changes to legislation which will impact on the environmental sector in the UK, Europe and internationally come under the spotlight in this Semple Fraser and Edie News monthly round-up of new law and policy. Among the changes this month we see the ratification of a pan-European protocol on water and health, the introduction of new packaging waste recycling targets, the EC gives GM animal feed the green light, combined heat and power stations get climate change tax cut in the UK, new regulations for offshore oil discharge and an overhaul of health and safety regulations for animal by-products in England and Wales.

Northern Ireland receives powers to charge industry for ETS

Regulations outlining how the Northern Ireland Environment Agency will recover its costs for regulating the EU Emissions Trading Scheme have been published.

Recession-hit Ireland reports good progress on emissions cuts

Carbon intensive industries in Ireland cut emissions by more than 15% in 2009.

Weak ETS needs tightening to be effective - EAC

The Environmental Audit Commission has published its third report on the EU Emissions Trading Scheme in which it blasts the mechanism for being too loose to be effective and calls for a 'significant' tightening of caps.

Water UK consults over job losses

Industry association Water UK is making staff cutbacks in a bid to "reduce controllable costs". Water UK has been consulting staff over its plans - six redundancies are expected, and a further two staff members have already decided to leave.

International investigation into £1bn carbon tax dodge

A scam that uses carbon trading to avoid paying tax is being investigated in countries across Europe, including the UK.

EC 'exceeded its powers' by seeking to limit states' emissions

The international courts have upheld a claim by Poland and other Central European countries that the EC over-stepped the mark when it set a ceiling for the carbon emissions of individual states.

EU could force carbon capture and storage

The European Union is set to consider plans to make carbon capture and storage mandatory for new coal fired power stations in an effort to significantly reduce the emissions of the energy sector.

WFD by 2015: an unrealistic deadline?

The WFD aims to improve integrated water management at a catchment level. But uncertainty remains. Mike Woolgar analyses the issues and how the industry should proceed.

Carbon market rewards generators and punishes public - WWF

Environmental campaign group WWF has denounced the latest round of the EU's Emissions Trading System, saying its heart is in the right place but 'design faults' mean it rewards those burning the most coal.

How the budget will impact on environmental sector

The Environmental Industries Commission has compiled a thorough analysis of how member companies are likely to be affected by Alistair Darling's first budget.

Kyoto credits 'could exceed European demand'

Proposed changes to the EU's Emission Trading Scheme could result in the number of Kyoto credits outstripping European demand, analysts have said.

European Commission says Irish emission targets will not be altered

The President of the European Commission has said that Ireland would not be allowed to alter its climate change targets, as the country can afford the costs associated with cutting CO2 emissions.

Business 'must look for emission reductions'

The year 2007 will be looked back on as a "watershed year for climate change", Ireland's Environmental Protection Agency (EPA) believes.

Donald Trump faces a £1,610 penalty due to flights to the UK in a plane from DJT Operations I LLC

Donald Trump hit with aviation emissions fine for UK flights

US Republican presidential frontrunner Donald Trump has been fined for the carbon pollution caused by part of his aircraft real estate, joining the Bahrain royal family and Rupert Murdoch's 21st Century Fox America in breaching EU emissions trading schemes.

Global carbon market grows by 80%

Growing government interest in cutting carbon emissions has led to the rapid expansion of the global carbon market, according to the US-based Worldwatch Institute.

Overseas allowances 'could be crucial' for Irish emissions targets

The Irish Business and Employers Confederation (IBEC) has warned that Ireland faces a massive challenge in trying to achieve EU climate change targets, and that the ability to purchase overseas allowances could be crucial.

EU announces plans for 20% emissions reduction

The European Commission has announced a package of measures to reduce greenhouse gases by at least 20% and increase renewable energy use by 20% by 2020.

2007 was a big year for climate change campaigner Al Gore

Climate Change & Energy - Review of the Year 2007

Carbon offsetting came under fire in 2007 as questions were raised over the validity of unregulated credits, leading reputable offsetting companies to seek CDM-registered credits for private markets.

Cap and Share scheme would tackle emissions

The question of how Ireland can reduce its greenhouse gas emissions will be the subject of a research project carried out by Comhar Sustainable Development Council.

EU 'must get tough' on soil protection

The European Union needs a robust soil protection policy to protect the environment and agricultural industry from problems such as pollution and land degradation.

Aviation emissions trading is set to be introduced by the EU from 2011

Campaigners slam aviation emissions trading

Protestors interrupted a summit on aviation emissions trading to protest that the scheme will allow the aviation industry to continue emitting carbon while claiming they are being green.

Norway, Iceland and Liechtenstein will now be part of the ETS

EU's Emissions Trading Scheme expands its reach

The European carbon trading scheme is to merge with the national schemes of three other countries which are part of the continent but not members of the EU itself.

EU must 'practice what it preaches' on climate change

The European Union has been quizzing representatives from major powers on their plans for tackling climate change in a post-Kyoto world.

Shipping emissions could be included in the next round of European trading

EU could regulate shipping emissions by 2012, lawyers warn

The shipping industry needs to prepare to be included in the EU emissions trading scheme as early as 2012, environmental lawyers have warned.

EU stands firm on aviation emissions

The European Union has said it will not back down on plans to introduce an aviation emissions trading scheme despite failure to reach an international agreement.

EU emissions trading scheme an 'embarrassing failure', think tank says

The attempt to create a global carbon market and a "global price for carbon" through trading is unlikely to be successful, says a think tank devoted to debating the direction of the EU in a new report published earlier this week.

Industry buys up allowances to meet carbon targets

Industrial installations have been forced to purchase more than 30 million tonnes worth of carbon credits to meet their 2006 obligations under the European Emission Trading Scheme.

Ships transport 90% of goods traded worldwide

EU to tackle shipping emissions

Ship emissions came under fire this week with the EU set on tackling CO2 from shipping through the ETS, and on-going discussions on regulating other air pollutants from maritime transport.

Airlines say it's not fair they should pay for credits

Aviation 'should pay for carbon credits'

News in Brief

Commission slashes Polish and Czech carbon quotas

Europe has slashed the carbon allocations proposed by the Polish and Czech governments for the second phase of the EU Emissions Trading Scheme in an effort to avoid over-generous allowances that have crippled the ETS previously.

Global carbon market on the horizon

The volume of carbon being traded this year is likely to soar, but the value of the sector will rise at a much more modest rate, according to an in depth analysis of the market.

The UK believes carbon trading is a key tool for reducing emissions

UK calls for clarity on future of ETS

Business, Government and environmentalists have drawn up a manifesto calling on the rest of Europe to take the necessary steps to ensure the future of an effective Emissions Trading Scheme.

Ministers to investigate European emissions trading system

Ministers are set to scrutinise the primary trading method designed to reduce Europe's emissions.

Companies fined for failing on ETS

Civil penalties have been issued against four companies which failed to play by the rules during the first year of the EU's Emissions Trading Scheme.

Heavy industry will be set tighter carbon targets in 2008

New round of carbon trading seeks to introduce scarcity to market

The EU has made modest cuts to caps in response to calls to reduce allowances in the next round of it Emissions Trading Scheme to avoid a collapse in the carbon market.

Tough love needed from EC to keep emissions trading on track

A pan-European federation of traders has said that the fact that many countries have missed the deadline for of their National Allocation Plans for the next period of the EU's Emissions Trading Scheme is undermining the existing market and is likely to have a deeper impact the longer the delays are allowed to continue.

Advances in fuel efficiency are outweighed by the exponential growth in air travel, MEPs said

Greener skies in view as Europe plans airline ETS

The European Parliament has backed proposals for an emissions trading scheme (ETS) for air travel, opening up the way for EU legislation to curb the climate impact the fastest growing source of greenhouse gases.

A pleasant surprise? the UK's cap is tougher than expected

UK vows carbon trading is here to stay as it sets ETS cap

The UK has announced tougher targets for the second phase of the European Emissions Trading Scheme, saying it wants to demonstrate leadership and a commitment to the environment.

The ETS aims to put a price on carbon emissions

Germany's weak targets threaten future of carbon trading

Germany has faced strong criticism over its "unambitious" carbon cut targets for the next phase of the European Emissions Trading Scheme, and is being blamed for undermining the scheme Europe-wide.

The ETS accounts for almost half of Europe's carbon emissions

EU will learn from emissions trading mistakes - Dimas

The EU will apply lessons from the recent carbon market disturbance when reviewing its emissions trading scheme for the next trading period, Environment commissioner Stavros Dimas said.

Guidance for the second phase of the EU ETS has been launched

Second phase emissions guidance launched

Guidance to help Member States draw up their national allocation plans for the second phase of the European emissions trading scheme has been launched by the Commission.

Ministers are considering including aviation in the emissions trading scheme

Europe looks to include aviation in emissions trading

Aviation could soon be included in the emissions trading scheme after European Environment Ministers agreed that trading was the best way to tackle the problem.

EU Ministers gather to discuss climate

European Environment Minister will meet in Luxembourg today, Friday June 11, to discuss the EU's climate change strategy.

Scotland sets out rules for ETS compliance

Scotland has brought its law books in line with the latest developments of the European Emissions Trading Scheme (ETS).

An EU consultation has shown overwhelming support for limiting aviations impact on climate change

Message is clear: aviation must help fight climate change

The European Commission took one step closer to including aviation in the EU emissions trading scheme this week as it published the results of a two-month consultation on limiting the sector's impact on climate change.

European business briefs: Aviation warning, biofuel partnership, Danish contract, Irish Green Flag awards

British Airways chief executive Rod Eddington this week urged the global aviation industry to work together to reduce its impact on climate change or face the risk of additional taxation. Speaking at the Aviation and Environment summit in Geneva, Mr Eddington said the industry must unite to develop an effective strategy to reduce carbon dioxide emissions as well as promoting its past environmental achievements. If it does not, he warned, governments will view the industry as an easy target for taxes to fund non-aviation projects. Mr Eddington said: "The recent suggestion by French President Jacques Chirac that our industry can be used as a 'cash cow' to solve the problems of Africa is just the latest in a long series of proposals to tax or charge aviation with environmental levies in some way. If we are to resist damaging and punitive proposals of this sort, we need to define and promote our industry response more clearly." British Airways says that emissions trading is the most economically and environmentally effective way to reduce carbon dioxide emissions levels. The airline is currently trading emissions in a voluntary British government scheme and supports the inclusion of aviation into the European Union's emissions trading scheme from 2008.

The UK has released its allocations for the EU ETS despite threats of legal action from the EC

UK releases allocations despite legal action from EU

The Government has released a revised list of installation level allocations for the EU emissions trading scheme despite the fact that the European Commission has refused this plan permission to go ahead, saying it is far too lenient.

Controversy has marred the formal start of the European emissions trading scheme

Controversy clouds formal start to emissions trading

The European Union Emissions Trading Scheme (EU ETS) officially began this week on January 1st 2005, amid threats of legal action from the UK over its watered-down final draft allocation plan, and allegations that the World Bank is using its size to crowd out private sector players on projects to reduce emissions in the developing world.

European CO2 emission trading moves closer

The European Commission has approved eight more national allocation plans (Naps) for the EU carbon dioxide (CO2) emissions trading scheme. The development means industry in 16 countries is now cleared to start trading from the scheme's scheduled launch just 73 days from now. It is uncertain how many of the remaining nine will be ready in time.

Blair's plan to cut aviation emissions could be bushed

The US will try to block Tony Blair's plans to introduce an aviation emissions trading scheme during his chairing of the G8 Summit, a grassroots organisation has claimed this week.

UK analysis of Members NAPs shows emissions levels will not meet Kyoto targets

An interim report analysing the National Allocation Plans (NAPs) for the EU emissions trading scheme (EU ETS) has found that, with some exceptions, the system is not being used to bring industry emissions in line with their Kyoto targets.

Blue skies ahead for UK ETS?

A research study led by environmental consultancy Enviros has looked at the first full year of the government-backed UK Emissions Trading Scheme (ETS). Jason Rayfield reports.

Blue skies ahead for UK ETS?

A research study led by environmental consultancy Enviros has looked at the first full year of the government-backed UK Emissions Trading Scheme (ETS). Jason Rayfield reports.

Lessons in environmental responsibility

Tony Nicholls, business development manager at Furmanite International, considers the regulatory pressures faced by industrial plant operators, and looks at simple initiatives that can ensure greater compliance.

European industry expressed serious doubts over the emissions trading system due to start in January 2005

Industry has major doubts over emissions trading

A survey of over 200 large European companies involved with the EU emissions trading scheme (ETS) has shown major doubts and a lack of preparation before its proposed introduction on January 1 2005.

Emissions trading won't hurt industry but won't reduce carbon either

A report by the Carbon Trust has found that, contrary to a lot of business belief, the EU emissions trading scheme (EU ETS) will not damage the competitiveness of British industry and that virtually all sectors will be able to maintain profits.

Companies not yet ready for ETS, but should be by deadline

Over half of UK companies surveyed are not now ready for compliance with the EU Emissions Trading Scheme (ETS), although nearly three quarters have made a head start on compliance, a new report has claimed this week.

UK emissions down thanks to trading scheme, says NAO

The first two years of the UK emissions trading scheme have been a success, having achieved a significant reduction in carbon dioxide emissions, according to a report issued by the National Audit Office (NAO) this week.

Including aviation in emissions trading would hit low cost flights hardest

A report by environmental accountancy firm Trucost has shown that including aviation in the European emissions trading scheme (ETS) would hit low cost flights, and companies that do not operate outside of the EU, the hardest.

Power intensive industries propose alternative to ETS

A group of power intensive industries has denounced what they call the "negative effect on their competitiveness" resulting from the combination of the electricity pricing mechanism and the European Emissions Trading Scheme (ETS). They have proposed their own alternative this week.

The Commission has issued a strong defence of Kyoto in the face of criticism

Commission issues defence of Kyoto and emissions trading

The European Commission has issued a strong defence of the emissions trading scheme and rejected all calls to change its position on the Kyoto Protocol.

Ireland published its draft national allocation plan this week detailing allocations for all installations covered by the ETS scheme

Ireland publishes draft CO2 emissions plan

Ireland published its draft national allocation plan (NAP) this week, giving detailed allocations of CO2 emissions allowances for all installations covered by the EU emissions trading scheme (ETS) for the first phase of the scheme. The draft will now undergo a period of public consultation until March 10.

Aviation should be included in emissions trading

Aviation is increasingly responsible for the greenhouse effect and should be included in the emissions trading scheme, according to a report by the German Environment Ministry.

Most UK investors ignorant to impact of emissions trading

A majority of UK institutional investors are unaware of the impact the EU Emissions Trading Scheme (ETS) will have on the value of their portfolios, a MORI poll has found.

European Business Briefs: Switzerland to stay out of ETS, renewables support, chemical debt, drug profit drop

Swiss companies have been expected to be linked to the EU emissions trading scheme (ETS), but this now seems unlikely to happen prior to 2008. Meanwhile, a CO2 tax might be introduced in Switzerland from 2005. The EU ETS will be launched 1 January 2005, with a three year long first phase ending 31 December 2007. Jürg Grütter at the Energy Agency for Industry in Switzerland said it is unlikely that there will be a link between the EU scheme and Swiss companies in that first phase.

Australian business feeling pinch from Kyoto absence

Australian companies are starting to feel the negative repercussions of their government's continued abstinence from the Kyoto Protocol and the international emissions trading scheme.

Impact of emissions trading on power prices is overstated, says study

New research from Trucost, an environmental research organisation, suggests that the impact of the upcoming emissions trading scheme on UK electricity prices has been highly exaggerated.

Australia cancels carbon-trading work

The Australian government has frustrated business in its latest move to resist global efforts to cut climate change. As of this week, the Australian Greenhouse Office (AGO) has ceased work on the Kyoto Protocol's international emissions trading scheme.

EIB fund for climate change policy

The European Investment Bank has announced a financing facility of €500 million to support the EU's emissions trading scheme (ETS).

Preparations for EU carbon trading reviewed

The European Commission has taken stock of progress towards preparation of national allocation plans (Naps) that the 26 states due to participate in the European emissions trading scheme (ETS) must complete. Governments must submit details by 31 March of how greenhouse gas emission allowances are to be shared between industries and installations ready for the scheme to start in 2005.

European Business Briefs: EIB carbon investment, steel tariffs lifted, carbon markets, German industrial production up, China looks to buy German plutonium plant, sludge incinerator

The European Investment Bank President Philippe Maystadt is to unveil the Bank's entry into the carbon market on 11 December at COP9 in Milan. Its involvement could lead to establishing a carbon investment fund, investing in Clean Development Mechanism and Joint Implementation projects. It intends to launch two facilities; a Dedicated Financing Facility to help companies in the EU emissions trading scheme to invest in carbon mitigation projects, and a Transaction Assistance Facility to help generate carbon credits through the Kyoto Protocol's CDM and JI programmes.

Companies urged to apply for emissions trading permits

The Environment Agency has initiated a campaign to urge English and Welsh companies to apply for permits for the EU greenhouse gas emissions trading schemes ahead of the 2005 Emissions Trading Directive.

European Investment Bank to launch climate change funds

The European Investment Bank (EIB) is to launch a number of financial products designed to assist the EU's carbon emission reduction policies, in particular the forthcoming emissions trading scheme, announced bank officials at a conference in Dublin on 23 and 24 October.

BAA calls for emissions trading to include aviation industry

Mike Clasper, chief executive of airport operator BAA, has called for the aviation industry to be included within the proposed EU emissions trading scheme from 2008.

Spanish Carbon Fund launched

The first Spanish Carbon Fund is to be launched as a consortium led by CO2 Spain, an environmental investments group, working together with CO2e.com and international law firm, Baker and McKenzie. Its initial participants include both public and private firms in Spain that expect to be involved in the European Emissions Trading Scheme.

EU emissions trading scheme is crucial to UK carbon reduction

The UK is expected to make far more progress towards its carbon reduction goals than previously forecast, according to the latest energy-environment projections from Cambridge Econometrics.

Company emissions can now be traded within europe

Emissions trading directive adopted by European Council

The European Union emissions trading directive has been adopted and finalised by the European Council, formally creating the largest emissions trading scheme in the world.

European Parliament and Council reaching agreement on emissions trading

Following the second reading in Parliament of the directive that would establish a greenhouse gas emissions trading scheme across Europe, MEPs are close to reaching agreement with the European Council.

EU links to global emissions trading scheme

The EU is planning to integrate its greenhouse gas emissions trading scheme into the global trading system to allow European businesses to buy pollution credits from other countries.

Milestone for UK emission trading scheme

The world’s largest greenhouse gas emissions trading scheme has so far proved “very successful”, UK environment minister Michael Meacher said on 12 May at a conference to mark the initiative’s first anniversary.

UK Business Briefs: greenhouse gas emissions, aggregates and brownfields

In this week’s UK Business Briefs: a new project for companies to offset their emissions from commuting; two new sponsors for Newcastle’s emissions neutral projects; a new advisor for DEFRA on joining the EU emissions trading scheme; a new research project on aggregates planning for local authorities; praise for Cranfield’s School of Water Sciences; and the Scottish Environmental Protection Agency is calling for entries for habitat renewal awards for brownfield sites.

Industry’s success in cutting emissions – but is it all just hot air?

British industry cut carbon dioxide emissions by 13.5 million tonnes last year, almost three times above target, according to government figures. But the five-year emissions trading scheme (UKETS) set up by the government is little more than hot air, according to an environmental news service.

UK emissions trading scheme – simply blowing hot air?

The five-year pilot emissions trading scheme (UKETS) set up by the government is little more than hot air, according to an environmental news service.

EU emissions trading scheme could spell end to UK scheme

The EU emissions trading scheme, due to come into effect in 2005, pending European Parliament approval, could result in an end to the UK emissions trading scheme and major changes to the Climate Change Levy, say researchers at the University of Sussex.

European Parliament endorses emission trading scheme

In a vote in the European Parliament on 10 October, parliamentarians voted 381 to 66 in favour of the new emissions trading scheme, which could start in 2005.

Carbon emissions accounting explained

A new discussion paper entitled Accounting for carbon under the UK Emissions Trading Scheme is the first attempt to clarify the financial accounting treatment for Direct Participants in the UK Emissions Trading Scheme.

Efficient electricity generators will find that their value will increase with c

Emissions trading scheme will increase assets in energy industry

Many assets owned by electricity utilities will appreciate in value by more than 90% with the introduction of the forthcoming European Union-wide cap-and-trading system for greenhouse gas emissions, according to a new study.

ExxonMobil dismisses warning that anti-Kyoto stance risks market value

On May 29th, the strength of shareholder interest in corporate attitudes to environmental issues will yet again be put to the test at ExxonMobil’s annual shareholder’s meeting, following a warning that the world’s largest energy company is risking market value by continuing to oppose Kyoto climate controls.

Greenhouse gas market emerging across the world

Greenhouse gas trading is emerging as the “policy of choice” for tackling climate change around the world, says a new report from a climate change research organisation. However, the fragmented trading systems need to be joined up in order to promote the market.

UK’s groundbreaking emissions market is ready for lift-off

The UK’s emissions trading scheme is now fully prepared for the start of trading at the beginning of next month, following an auction in which 34 companies set the price of emission credits, and set the level of the emission reduction targets.

Pollution prevention legislation will not hamper emission trading

The European Commission has issued a ‘non-paper’ clarifying the relationship between its plans for a EU-wide carbon emissions trading scheme and the 1996 Integrated Pollution Prevention and Control (IPPC) directive.

UK companies sign up for emissions trading

The UK government has announced that 46 businesses have signed up for the forthcoming greenhouse gas emissions trading scheme – the first in the world - due to start in April, including companies such as Barclays, British Airways, BP, Caterpillar, Rolls-Royce, Sainsbury’s, Somerfield, Shell, TotalFinaElf and Whitbread Hotels.

UK launches world’s first national emissions trading programme

The Government has launched its £215 million UK Emissions Trading Scheme, which could cut up to two million tonnes of carbon a year from the atmosphere by 2010 and generate new job and investment opportunities for industry.

Nitrogen oxide emissions trading programme has succeeded in cutting pollution

A nitrogen oxide (NOx) emissions trading scheme covering the northeastern United States has been a success in cutting pollution, according to a new report by a Congress Commission.

Timetable for new emissions trading scheme is too tight

The timetable for the new emissions trading scheme is too tight, according to respondents to the Government’s consultation on the scheme, who prefer that more time is taken to get the programme right.

Government announces £30 million for UK emissions trading scheme

The Government has announced a £30 million investment in a scheme to trade greenhouse gas emissions, which, it says, will give UK businesses and the City a head-start in what will become an international market.

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