| Expect a Carbon Reduction Bill |
| Written by Daniel Stouffer | |
| Saturday, 19 September 2009 | |
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There have been a number of attempts to put pressure on individual corporations, producers and emitters of greenhouse gases to force curtailment. Generally, reporting of carbon emissions has been voluntary, although there is now evidence of legal initiatives including a carbon reduction bill already passed in the UK and one under consideration in the US.
There have been a number of attempts to put pressure on individual corporations, producers and emitters of greenhouse gases to force curtailment. Generally, reporting of carbon emissions has been voluntary, although there is now evidence of legal initiatives including a carbon reduction bill already passed in the UK and one under consideration in the US. A serious attempt in the United Kingdom to introduce a carbon reduction bill has been successful and the Carbon Reduction Commitment is now being put in place. 5000 of Britain's largest emitters are in the process of registering for participation by looking back at 2008 to assess their compliance. The Climate Change Act was the catalyst for the British government to introduce a carbon reduction Bill. Going back to the Kyoto Protocol, a number of benchmarks have been set but this is the first time that far-reaching legislation has been imposed upon companies that are contributory to the problem, causing them to actively reduce their carbon footprint. While the United Kingdom has moved decisively, a lot of people in the United States are wondering whether legislators in Washington will have the will to pass a similar carbon reduction bill in this country. The US House of Representatives has indicated that they wish to see something similar to the UK legislation, but the ACES Act as it is known may not survive through the Senate unscathed. The UK government specified that the largest emitters of carbon gases use at least 6,000 Mwh of electricity per annum. This is being measured through half hourly meters and this figure is used as a trigger to prompt companies to register and participate. Several key details are still being worked out during the course of 2009 but once the initiative gets underway there will be considerable repercussions should an organization fail to perform adequately. A carbon reduction bill has long been called for by most of the industrialized nations, with the noted exception of the United States. However, a change in administration has seen a change in heart and it is likely that some kind of legislation will be introduced within the USA, which would maybe mirror the UK situation. Those US organizations that feel they may be impacted by a carbon reduction bill in the future, could take a closer look at some of the voluntary carbon trading schemes that exist, including the Chicago Climate Exchange which has been in operation for several years. It is possible to trade allowances and offsets within this market, where participation is voluntary but rules must be adhered to following initiation. As we can see that climate change and global warming seems to be accelerating to a dangerous level, expect a raft of legislation and carbon reduction bills over the next few years. The Article Author: Daniel Stouffer has a lot of information about the carbon reduction bill and how a visit to www.verisae.com can aid you. |
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