According to the case, the carbon-tax and a cap-and-trade system are the best economic tool to employ to reduce emissions. As we know, taxes are the most important expense for a company or firm, if they would emit much more carbon dioxide and other gases, they need to pay more taxes on using carbon recourses. It is stated (Bubna-Litic & Chalifour 2012) that ‘One of the defining features of carbon taxes is that they generate a relatively clear and predictable stream of revenue’. The revenue can be used in many different ways and a key issue is how that revenue is used. For instance, the tax expenditures are aimed at improving energy efficiency and this policy has a regulatory goal of addressing climate change that including gases emission. However, cap-and-trade is also leads to prove the efficiency due to the firms are free to trade. Cleetus (2011) argued that carbon prices adjust in keeping with general economic conditions automatically, and price volatility that could lead to greater uncertainty for business investment decisions. It is also mentioned that a transparent carbon market with good regulation and access to emission and trading data for participants. In a word, carbon taxes focus on taxable regulation for firms and cap-and-trade system concentrate on the monitor of carbon usage and the emission trading.…
|Carbon Disclosure Project investors that represented over 9 trillion dollars in assets wrote 500 of the largest companies demanding |…
References: Allen Consulting Group, (2000), Greenhouse Emission Trading, Report to the Victorian Department of Premier and Cabinet, Melbourne.…
1. Explain the workings of a system of tradable carbon emission permits (cap and trade) in an international setting:…
In the late eighties and early nineties, the international community became increasingly concerned by the problem of climate change and realized that it is indeed an acute global issue. Amidst such an atmosphere, the text of an international treaty, the United Nations Framework Convention on Climate Change (UNFCCC) was adopted at the Earth Summit in Rio de Janeiro in 1992, and the Convention entered into force in 1994. However, by 1995 the countries realized that the provisions on emission reductions in the Convention were not adequate . The Kyoto Protocol, adopted in Kyoto, Japan, on 11 December 1997, was a result of the ensuing negotiations to make the global response to climate change more effective. The UNFCCC defines the Kyoto Protocol…
However, the presented problem is one where ABB India, even with its advantageous position in the Indian market, is ultimately emitting large quantities of CO2 emissions through its use of coal and therefore not complying exactly with Generation’s company values. This splits Generation into two frames of mind; the investment could promote a more stable economy and relieve growth in poverty but without being unaccountable for an increase in coal-fired energy generation – the prime cause for global warming.…
• provide a website to serve as the main information centre on emissions trading, project mechanisms and related issues; and…
Curry, Bill, and McCarthy, Shawn. "Canada Formally Abandons Kyoto Protocol on Climate Change." The Globe and Mail. The Globe and Mail Inc., 12 Dec. 2011. Web. 05 May 2013.…
The issue of carbon emissions is an important one not only from an environmental perspective but also an economic one. While reducing carbon emissions is an important one for the health of human beings as well as that of the environment, the larger question is what type of policy strategy is best for both reducing such emissions which might have an impact on efforts to mitigate the effects of pollution on climate change. While ther are options to consider which does not rely on economics-- technological or output standards achieved by command and control regulations--they are often fraught with political resistance by industry because they do not allow industry to make any choices or play a role in solving the problem of excessive emissions and the burden that these emissions place on others. Instead of such draconian measures based on fiat, the preferred options rely on economic tools instead to provide incentives to industry to police itself by either incenting investment in emission-reducing and/or energy saving technologies or to reduce production in line with the total/social-costs rather than just the private/ producer-costs of production. Two such economic policies to consider in this regard are emission taxes and cap-and-trade policies.…
The fear that carbon dioxide emissions were responsible for an increase in global temperatures prompted the internaional community to propose the creation of the Kyoto Protocol, an international agreement to fight global warming.…
The Governments of Australian and Hong Kong are paying attention to climate change. The Kyoto Protocol is an international agreement connected to the United Nations Framework Convention on Climate Change (UNFCCC). According to UNFCCC (2009), Australia has joined the Kyoto Protocol but Hong Kong has not. “The major feature of the Kyoto Protocol is that it sets binding targets for 37 industrialized countries and the European community for reducing greenhouse gas (GHG) emissions.” (UNFCCC 2009) “Human activities cause an increase in greenhouse gases, mainly through burning of fossil fuels.” (GovHK 2010) Under the agreement, Australia must meet its goal in the national measures. The Kyoto Protocol gives additional suggestions of meeting this goal by setting the Kyoto mechanisms which are: emissions trading, the cleaning development mechanism and joint implementation. (UNFCCC 2009) Two major contributors of greenhouse gases in Hong Kong are power generation and the transport sector. (GovHK 2010) Even though the Hong Kong Government is not a member of the Kyoto Protocol, it has been promoting the use of cleaner fuel and renewable energy got over a decade to reduce the production of greenhouse gases from power generation. (GovHK 2010) The Hong Kong Government has also signed a Memorandum of Understanding with National Energy…
The Kyoto Protocol is the…
The Kyoto Protocol is a protocol to the United Nations Framework Convention on Climate Change (UNFCCC or FCCC), aimed at fighting global warming. The UNFCCC is an international environmental treaty with the goal of achieving the "stabilization of greenhouse gas concentrations in the atmosphere at a level…
Sub-project of “Key issues in coping with climate change”: study on voluntary carbon market, study on international carbon market…
In 1979 ITC ventured into the paper board business by promoting ITC Bhadranchalam Paperboards Limited (IBPL) in the state of Andhra Pradesh. IBPL merged with the Tribeni Tissues Limited which was the producer of a speciality paper and the supplier of a tissue paper to the cigarette company.…