The US administration's declaration of its aim to reduce its GHG emissions over the 2008 levels has ignited hope to many that laws will be passed in no time that will enforce mandatory compliance among large operations among enterprises in the entire country. This concept moved forward from theory to a bill through the initiatives of the House of Representatives last year, though the Senate caused delay to the passage of the said bill.
Analysts expect to see a significant revival, in voluntary terms, for carbon market trading, due in large part to the recent declarations by Pres. Obama that the US will aim to cut down carbon emissions to a considerable percentage within the next ten years. Environmentalists have praised the announcement as they have been disappointed for quite a long time with the outcomes of the lack of action for the agenda of the Copenhagen Summit.
If the US Senate passes the equivalent of the American Clean Energy and Security Act, a "cap and trade" scheme will be set up as a mandatory market mechanism, similar in concept to the European Union's Emissions Trading scheme or the current initiative underway in the United Kingdom. This will undoubtedly trigger demand for voluntary emission reductions as organizations take action to buy credits from an international market.
Carbon market trading is likely to see a boost through 2010 as US businesses seek to purchase credits internationally, as they seek voluntary emission reductions. This is very much tangible with much evidence such as the increasing demand for unit deals in other countries such as India, for example.
As of this writing, voluntary carbon emissions reductions would only represent a small fraction of the global emissions reductions, with certified reductions under the different schemes that are already existing way in excess. In the United States, the Chicago Climate Exchange is set up to operate a "cap and trade" scheme on a voluntary basis, although participants must commit to following through once they join.
US business leaders imagine that if they take proactive steps to engage, that they will be ahead of the game as and when mandatory carbon reporting comes into place. Their carbon market trading activities prompt them to purchase the voluntary emission reduction credits, which they can "bank."
If mandatory carbon market trading is passed, it is likely to formulate a real cost for carbon as a traded commodity in the US. In addition to the sheer cost of purchasing energy, companies will have to account for the cost of emitting carbon as a consequence and this would place a very real additional cost to the bottom line.
With healthcare out of the way, it is likely that Pres. Obama will next turn his attentions to energy and we can expect to see the Senate take up potential passage of the ACES Act as 2010 unfolds.
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Article Source: http://www.articlesbase.com/ - Revival of the Carbon Market Trading
Environmentalists who have been advocating for more emphasis on the goals of the Copenhagen Summit would now have reasons to celebrate with the upcoming revival of the voluntary carbon market trading. Analysts agree that the declaration of the Obama administration on the United State's redirected priority on the reduction of carbon emissions down to a large scale will be expected within the next decade.
The US administration's declaration of its aim to reduce its GHG emissions over the 2008 levels has ignited hope to many that laws will be passed in no time that will enforce mandatory compliance among large operations among enterprises in the entire country. This concept moved forward from theory to a bill through the initiatives of the House of Representatives last year, though the Senate caused delay to the passage of the said bill.
Analysts expect to see a significant revival, in voluntary terms, for carbon market trading, due in large part to the recent declarations by Pres. Obama that the US will aim to cut down carbon emissions to a considerable percentage within the next ten years. Environmentalists have praised the announcement as they have been disappointed for quite a long time with the outcomes of the lack of action for the agenda of the Copenhagen Summit.
If the US Senate passes the equivalent of the American Clean Energy and Security Act, a "cap and trade" scheme will be set up as a mandatory market mechanism, similar in concept to the European Union's Emissions Trading scheme or the current initiative underway in the United Kingdom. This will undoubtedly trigger demand for voluntary emission reductions as organizations take action to buy credits from an international market.
Carbon market trading is likely to see a boost through 2010 as US businesses seek to purchase credits internationally, as they seek voluntary emission reductions. This is very much tangible with much evidence such as the increasing demand for unit deals in other countries such as India, for example.
As of this writing, voluntary carbon emissions reductions would only represent a small fraction of the global emissions reductions, with certified reductions under the different schemes that are already existing way in excess. In the United States, the Chicago Climate Exchange is set up to operate a "cap and trade" scheme on a voluntary basis, although participants must commit to following through once they join.
US business leaders imagine that if they take proactive steps to engage, that they will be ahead of the game as and when mandatory carbon reporting comes into place. Their carbon market trading activities prompt them to purchase the voluntary emission reduction credits, which they can "bank."
If mandatory carbon market trading is passed, it is likely to formulate a real cost for carbon as a traded commodity in the US. In addition to the sheer cost of purchasing energy, companies will have to account for the cost of emitting carbon as a consequence and this would place a very real additional cost to the bottom line.
With healthcare out of the way, it is likely that Pres. Obama will next turn his attentions to energy
and we can expect to see the Senate take up potential passage of the ACES Act as 2010 unfolds.
Read more: http://www.articlesbase.com/business-articles/revival-of-the-carbon-market-trading-2628351.html#ixzz0qq3spQMG
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