1. The 1997 Kyoto Protocol, signed by more than 80 nations and the European Union, requires EU members and other industrialized countries to reduce greenhouse-gas emissions blamed for global warming by an average of 5 percent below 1990 levels in the five years through 2012.
2. The Kyoto protocol allows companies in industrialized countries to buy carbon credits from developing nations in order to comply with requirements
So:
1. Electricite de France SA, Europe's biggest power producer, bought carbon emission credits from China Guangdong Nuclear Power Holding Co. to help the French utility meet requirements to cut output of greenhouse gases.
2. The agreement covers 3.6 million metric tons of emissions credits generated by wind-power projects, Guangdong Nuclear, China's second-largest nuclear power producer.
A business with conscience = business with reputation.
A business with reputation = business with revenue.
But doesn’t carbon trading subvert its own objective?
[Click here for full story at: BLOOMBERG.COM]
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