Australia Predicts A$24.7 Billion Carbon Revenue - Bloomberg
Australia expects to raise A$24.7 billion ($25.2 billion) in four years from the carbon tax coming into effect July 1, as the government seeks to reduce emissions and spur investment in cleaner energy.
The levy on Australia’s biggest polluters starts at A$23 per ton of carbon and rises by 2.5 percent in real terms in each of the following two fiscal years. Treasury projects they will reach A$29 in 2015-16, when the mechanism moves to a price set by the market, the government said in the budget yesterday. The tax is expected to increase consumer prices by 0.7 percentage point in the 12 months starting July 1.
Tuesday, May 8, 2012
NREL develops more precise look at cradle-to-grave greenhouse gas emissions for energy technologies on Environmental Expert
greenhouse gas emissions by the U.S. Department of Energy’s (DOE) National Renewable Energy Laboratory (NREL) – is being heralded as an important step forward in life-cycle assessments that paints a clearer picture of the environmental penalties and benefits of different technologies.
Picarro is ready for its next big test. The Santa Clara-based company makes unique gas analyzers that environmental heavyweights use to test air quality, measure greenhouse-gas emissions and find gas leaks, among other things. Now, the environmental-metric company is hoping to expand into other markets, including possible future use in grocery stores.
consultation on the proposals, which aim to replace the 13 separate regulations governing the scheme in the UK with a "single regulatory instrument". The move is the first practical result of the department's "red tape challenge", which last year asked businesses and other interested parties to suggest how excessively burdensome regulations could be simplified.
The West Africa Development Bank (BOAD), CDC Climat (Caisse des Dépôts Group), and Proparco (French Development Agency Group) announced today at Africa Carbon Forum, the annual meeting of African climate finance, the upcoming launch of the Carbon Fund for Africa. To date, Africa is the continent least responsible for global warming but has benefited very little for carbon funding. It has a historic opportunity to switch to a green development model. Three major financial institutions are uniting to create this new fund, which combines development and climate objectives. The Fund will be managed by CDC Climat Asset Management and will bring additional funding to renewable energy, methanisation, and energy efficiency projects, and in low-carbon household equipment programmes in Sub-Saharan Africa.
A U.S. bill that requires utilities to increase their use of power generated by clean sources may drive up power prices for consumers, though not for at least a decade, according to the Energy Information Administration. That gap may increase to as much as 18 percent by 2035 as utilities seek to reduce carbon emissions by shifting their mix of power plants away from coal in favor of natural gas, nuclear and renewable energy.
The European Union and the world’s poorest nations joined forces to call for more-ambitious measures to reduce carbon emissions globally and to encourage private investors to team up with public institutions to finance the fight against climate change. Ministers from more than 30 least-developed countries and EU officials pledged today at an informal gathering in Brussels to push for an ambitious outcome of the next United Nations climate summit in Doha toward the end of this year. The UN Environment Program said in November that current pledges to reduce greenhouse gases by 2020 need to double in order to keep the planet on a trajectory that limits warming since industrialization to 2 degrees Celsius (3.6 degrees Fahrenheit).
Microsoft has pledged to make all of its data centers, software development labs and any other direct operations carbon neutral, starting in fiscal 2013. The company announced its decision in a blog post, saying that it has also recently worked to promote environmental responsibility across the company and will make every business unit responsible for offsetting its own carbon emissions. The company will do so by charging a fee for carbon, which its operations in “over 100 countries” will have to pay off.
Environmental Finance | News Generation leads $18.3m LED VC round
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