Here is a news story “In London’s Financial World, Carbon Trading Is the New Big Thing” by  nytimes.com, about the fasting-growing carbon markets and the volume which was$30 billion in 2006 and that can grow to $1 trillion within a decade. London is the most volumes traded place in the world. It is interesting to note the growth of the market and the environmental initiatives. 

It was reported that Karnataka Power Transmission Corporation Ltd. (KPTCL) and Karnataka’s five energy supply companies (ESCOMs) are planning for carbon credits and carbon trading.The increased efficiency and lowering fossil fuels usage in power generation are being looked at to result in carbon credits.The state is ranked second in India for wind energy generation.The power purchased from the wind power is also being considered for CERs. Carbon Trading consultants are being called for to respond before July 12, 2007. Source:hindu.com. The news is here. h*tp://www.hindu.com/2007/07/ 07/stories/2007070753000400.htm

Bandago Van Rentals, becomes  first auto rental company in US to offset total carbon dioxide emissions of its fleet of vehicles, with DriveNeutral, the only nonprofit organization that helps members offset their carbon dioxide exclusively through the Chicago Climate Exchange.The Company “excpects to offset 823 metric tons of carbon dioxide, which is equivalent to taking nearly 240 passenger vehicles off the road for a year.”Read the inspiring news here.http://www.theautochannel.com/news/2007/06/26/053230.html

About 157 new energy efficient trains are going to be added by Mumbai Rail Vikas Corporation (MRVC), soon. The World Bank  is reported to help MRVC get the energy savings considered for the carbon credits. The World Bank  is incidentally one of the main financiers of the Mumbai Urban Transport Project (MUTP). The current annual consumption of electricity by fleet of 204 trains 55 crore units .  The energy efficient technologies are inspiring to note. Souce: timesofindia. indiatimes.com. The news is here.http://timesofindia.indiatimes.com/Mumbai_to_get_eco-friendly_trains/articleshow/2162699.cms

French President is repored to have said recently that he supported calls to set ceilings on CO2 emissions from airlines, as their ecological imprint could no longer be ignored. EU is considering plans to limit the carbon emissions from airlines from 2011. As per EU aircraft emissions  are only about three percent of the global total, but the emissions saw increase by 87 percent since 1990. The increasing number of low-fare airlines  across Europe has intensified the issue.Source:news.yahoo.com. The news is here. http://news.yahoo.com/s/afp/20070626/sc_afp/franceenvironment_070626173118

CantorCO2e Limited,  leading global financial services Company, providing sevices to the Global environmental and energy markets, has recently announced thier involvement in the first ever Biomass Clean Development Mechanism (“CDM”) Project in Chile,  byArauco, the largest forestry company in Latin America, selling emission reductions to Tokyo Electric Power Company (TEPCO), one of the world’s leading electricity generation companies in Japan.  The  creation of energy by Arauco, through the burning of Sustainable Biomass (wood waste) results in reducing CO2 and methane emissions in the order of 500,000 tonnes of carbon dioxide equivalent. Source: h*tp://www.cantorco2e.com/AboutUs/?id=9549

As per Reuters news Climate Exchange Plc, UK  expects to set up voluntary exchanges in India and China. The exchanges will be similar to the Chicago Climate Exchange (CCX) in the U.S.European Climate Exchange (ECX), has 80 percent of the exchange-based trade in European Union carbon permits.CCX has over 300 members presently since its start in 2003. India and China are not part of the Kyoto Protocol, and need not comply emission reduction targets set under Kyoto. It is good to note that the initiative will increase the Projects aimied at emission reductions. Source:ndtvprofit.com. The news is here. h*tp://www.ndtvprofit.com/homepage/news.asp?id=281797

According to the data by UN Framework Convention on Climate Change (UNFCCC),    more than 5.4 million Certified Emissions Reductions certificates(CERs), were issued to two projects owned by India’s JSW Steel for reducing greenhouse gas emissions between 2001 and 2006.The projects are using waste gas for electricity generation. Source: economictimes. indiatimes.com. The news is here. h*tp://economictimes. indiatimes.com/ articleshow/ 2152656.cms

Here is a video, “Newsnight: CO2,they call it life,we call it a greenhouse gas“”Jeremy Paxman interviews Myron Ebell from the Competitive Enterprise Institute CEI) and John Mitchell, Chief Scientist at the UK Met Office, and a lead author of the United Nations Intergovernmental Panel on Climate Change“.  I have come across this on youtube and wanted to share.

Recently Scottish and Southern Energy (‘SSE’), has entered in to agreement, through its subsidiary, SSE Energy Supply Ltd, with GD Power Development Co. Ltd (a subsidiary of China Guodian Corporation) to promote four new wind farms in China and will buy around two million Carbon Emissions Reduction Certificates (CERs) over a period of five years from the start of 2008. Source:scottish-southern.co.uk