Ethanol adds to global warming
The widespread use of ethanol from corn could result in nearly twice the greenhouse gas emissions as the gasoline it would replace because of expected land-use changes, researchers concluded Thursday. The study challenges the rush to biofuels as a response to global warming.
The researchers said that past studies showing the benefits of ethanol in combating climate change have not taken into account almost certain changes in land use worldwide if ethanol from corn — and in the future from other feedstocks such as switchgrass — become a prized commodity.
"Using good cropland to expand biofuels will probably exacerbate global warming," concludes the study published in Science magazine.
The researchers said that farmers under economic pressure to produce biofuels will increasingly "plow up more forest or grasslands," releasing much of the carbon formerly stored in plants and soils through decomposition or fires. Globally, more grasslands and forests will be converted to growing the crops to replace the loss of grains when U.S. farmers convert land to biofuels, the study said
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Thursday, February 7, 2008
Wednesday, January 30, 2008
CCS -- capture, transport and storage of CO2
At the moment, the different elements of CCS -- capture, transport and storage of CO2 -- have all been demonstrated, according to the commission, but bringing them all together into one integrated CCS process -- and bringing down the cost of the technology -- remains a challenge.
The major application for CCS is within the fossil fuel power sector, mainly coal and gas power plants, but the technology can also be applied to a range of carbon-emissions-heavy industries such as iron and steel, petrochemicals, refineries and cement production. Cement, for example, is one of the biggest carbon-polluting industries, with every tonne of cement emitting roughly a tonne of carbon in the production process.
There are three main forms of CCS: post-combustion, pre-combustion, and oxyfuel combustion.
With post-combustion, CO2 is removed after the combustion of a fossil fuel, most commonly directly from the flues at a power plant. Post-combustion CCS at a coal-fired power plant is what people mean when they use the term "clean coal".
For pre-combustion, a method used in fertiliser and chemical production, the carbon is removed before the combustion takes place. Oxyfuel combustion burns the fuel in oxygen instead of air.
The biggest carbon storage initiatives currently under development by European firms are the Sleipner project in the North Sea, coordinated by Norwegian petroleum company Statoil, and the Salah project in Algeria, a joint venture of Statoil, BP and Sonatrach. Both involve stripping carbon from natural gas and then storing it underground.
The major application for CCS is within the fossil fuel power sector, mainly coal and gas power plants, but the technology can also be applied to a range of carbon-emissions-heavy industries such as iron and steel, petrochemicals, refineries and cement production. Cement, for example, is one of the biggest carbon-polluting industries, with every tonne of cement emitting roughly a tonne of carbon in the production process.
There are three main forms of CCS: post-combustion, pre-combustion, and oxyfuel combustion.
With post-combustion, CO2 is removed after the combustion of a fossil fuel, most commonly directly from the flues at a power plant. Post-combustion CCS at a coal-fired power plant is what people mean when they use the term "clean coal".
For pre-combustion, a method used in fertiliser and chemical production, the carbon is removed before the combustion takes place. Oxyfuel combustion burns the fuel in oxygen instead of air.
The biggest carbon storage initiatives currently under development by European firms are the Sleipner project in the North Sea, coordinated by Norwegian petroleum company Statoil, and the Salah project in Algeria, a joint venture of Statoil, BP and Sonatrach. Both involve stripping carbon from natural gas and then storing it underground.
EU Carbon Storage Plan
Within the European Commission's comprehensive package of legislative proposals on climate change and energy announced on Wednesday (23 January) is a plan to promote the development of a controversial carbon emissions mitigation technology known as "carbon capture and storage" (CCS).
CCS "captures" carbon dioxide from power plants and stores it in underground geological formations or deep oceans instead of releasing it into the atmosphere.
The climate and energy package includes a series of revised guidelines on state aid for environmental protection that will enable member state governments to support CCS demonstration plants.
"The new environmental aid guidelines strike the right balance between generous support mechanisms for well-targeted aid supporting the environment and the preservation of competition," said competition commissioner Neelie Kroes at the press conference on Wednesday announcing the "Climate Action" package.
Additionally, under the proposals, carbon dioxide captured and stored will be considered not emitted under the emissions trading system (ETS).
The revision on state aid guidelines is necessary because in the first phases of the technology's development, CCS demonstration projects will require additional finance beyond the incentives from the ETS carbon market, as the current cost of the technology is much higher than the price of carbon.
"CCS will only be deployed if the cost per tonne of CO2 avoided is lower than the carbon price," says the commission.
The commission says that while energy efficiency and an increased use of energy from renewable sources are the primary solutions in the short term, other options are needed in the longer term if Europe and the rest of the world are to achieve a 50% reduction in greenhouse gas emissions by 2050.
CCS "captures" carbon dioxide from power plants and stores it in underground geological formations or deep oceans instead of releasing it into the atmosphere.
The climate and energy package includes a series of revised guidelines on state aid for environmental protection that will enable member state governments to support CCS demonstration plants.
"The new environmental aid guidelines strike the right balance between generous support mechanisms for well-targeted aid supporting the environment and the preservation of competition," said competition commissioner Neelie Kroes at the press conference on Wednesday announcing the "Climate Action" package.
Additionally, under the proposals, carbon dioxide captured and stored will be considered not emitted under the emissions trading system (ETS).
The revision on state aid guidelines is necessary because in the first phases of the technology's development, CCS demonstration projects will require additional finance beyond the incentives from the ETS carbon market, as the current cost of the technology is much higher than the price of carbon.
"CCS will only be deployed if the cost per tonne of CO2 avoided is lower than the carbon price," says the commission.
The commission says that while energy efficiency and an increased use of energy from renewable sources are the primary solutions in the short term, other options are needed in the longer term if Europe and the rest of the world are to achieve a 50% reduction in greenhouse gas emissions by 2050.
Friday, January 25, 2008
Critic of carbon trading
An international expert critical of "carbon trading" as a means of reducing greenhouse gases will speak in Rochester on Jan. 31.
Larry Lohmann is editor of the book "Carbon Trading: A Critical Conversation on Climate Change, Privatisation and Power." He is a founding member of the Durban Group for Climate Justice in Durban, South Africa.
He is touring the United States now to describe failures of carbon trading in Europe, India, Brazil, Uganda and elsewhere, and to learn more about U.S. carbon-trading plans and climate politics.
Lohmann will speak at 11 a.m. in the board room at the city-county Government Center, 201 Fourth St. S.E., Rochester; and at 7 p.m. in room 110 in Singley Hall, on the University Center-Rochester campus. The appearances are open to the public, and there is no admission charge.
Sponsoring organizations will present information at booths outside Lohmann's 7 p.m. speech. The booths open at 6:30 p.m.
Lohmann criticizes carbon trading, the primary mechanism for reducing greenhouse gases under the Kyoto Protocol, as having failed to significantly reduce those emissions, and failing to meet certain standards of social justice.
Larry Lohmann is editor of the book "Carbon Trading: A Critical Conversation on Climate Change, Privatisation and Power." He is a founding member of the Durban Group for Climate Justice in Durban, South Africa.
He is touring the United States now to describe failures of carbon trading in Europe, India, Brazil, Uganda and elsewhere, and to learn more about U.S. carbon-trading plans and climate politics.
Lohmann will speak at 11 a.m. in the board room at the city-county Government Center, 201 Fourth St. S.E., Rochester; and at 7 p.m. in room 110 in Singley Hall, on the University Center-Rochester campus. The appearances are open to the public, and there is no admission charge.
Sponsoring organizations will present information at booths outside Lohmann's 7 p.m. speech. The booths open at 6:30 p.m.
Lohmann criticizes carbon trading, the primary mechanism for reducing greenhouse gases under the Kyoto Protocol, as having failed to significantly reduce those emissions, and failing to meet certain standards of social justice.
Thursday, January 17, 2008
Exchanges to study carbon trading
The Tokyo Stock Exchange Group Inc. (TSE) and the Tokyo Commodity Exchange (TOCOM) will jointly study carbon trading systems with an eye to possibly creating a domestic market, sources said.
TSE, the operator of Japan's largest stock exchange, and TOCOM, the market for futures trading in precious metals, aluminum and oil, will form a study panel by the end of this month, according to the sources.
It is part of a broad agreement to be signed by the two entities as early as Wednesday to raise Japan's international competitiveness, the sources said.
While trading in greenhouse gas emissions credits emerged as a thriving business in Europe, Japan dragged its feet in creating a market due to opposition from business circles.
Even so, the two exchanges said there is clearly a growing need for Japan to have one as it comes under stronger pressure to reduce emissions of carbon dioxide (CO2) and other greenhouse gasses.
Trading in emissions rights forms part of the mechanisms introduced under the 1997 Kyoto Protocol to fight global warming.
Countries and companies unable to meet the CO2 reduction targets are allowed to buy emissions credits from those which have cut emissions beyond their goals.
In 2005, the European Union introduced a system to set emission quotas to each company within the region that will allow those unable to meet the criteria to buy credits from those which more than met theirs.
The system is aimed at promoting CO2 reductions on the strength of market forces as successful cuts would lead to benefits while greater emissions mean higher costs.
There has been growing interest in the United States and Canada in following the EU's lead.
In Japan, however, Nippon Keidanren (Japan Business Federation) and related organizations are opposed to the introduction of such systems on grounds emission quotas would mar competitiveness.
Within the government, the Environment Ministry is studying a domestic emission credits system while the Ministry of Economy, Trade and Industry remains cautious.
The two exchanges plan to study systems abroad, such as the European Climate Exchange, to see how they function and to determine the demand for such trading in Japan.
The panel is expected to propose a system that will meet Japan's needs and circumstances as well as point to possible problems.
Under the Kyoto Protocol, Japan is obliged to cut greenhouse gas emissions by 6 percent on average between 2008 and 2012 from levels in 1990.
But meeting that goal appears to be difficult because preliminary figures show that Japan's emissions in fiscal 2006 actually rose 6.4 percent from the 1990 levels.
Against this background, the two exchanges apparently decided it is possible that the need for a domestic market will emerge naturally, according to the sources.(
TSE, the operator of Japan's largest stock exchange, and TOCOM, the market for futures trading in precious metals, aluminum and oil, will form a study panel by the end of this month, according to the sources.
It is part of a broad agreement to be signed by the two entities as early as Wednesday to raise Japan's international competitiveness, the sources said.
While trading in greenhouse gas emissions credits emerged as a thriving business in Europe, Japan dragged its feet in creating a market due to opposition from business circles.
Even so, the two exchanges said there is clearly a growing need for Japan to have one as it comes under stronger pressure to reduce emissions of carbon dioxide (CO2) and other greenhouse gasses.
Trading in emissions rights forms part of the mechanisms introduced under the 1997 Kyoto Protocol to fight global warming.
Countries and companies unable to meet the CO2 reduction targets are allowed to buy emissions credits from those which have cut emissions beyond their goals.
In 2005, the European Union introduced a system to set emission quotas to each company within the region that will allow those unable to meet the criteria to buy credits from those which more than met theirs.
The system is aimed at promoting CO2 reductions on the strength of market forces as successful cuts would lead to benefits while greater emissions mean higher costs.
There has been growing interest in the United States and Canada in following the EU's lead.
In Japan, however, Nippon Keidanren (Japan Business Federation) and related organizations are opposed to the introduction of such systems on grounds emission quotas would mar competitiveness.
Within the government, the Environment Ministry is studying a domestic emission credits system while the Ministry of Economy, Trade and Industry remains cautious.
The two exchanges plan to study systems abroad, such as the European Climate Exchange, to see how they function and to determine the demand for such trading in Japan.
The panel is expected to propose a system that will meet Japan's needs and circumstances as well as point to possible problems.
Under the Kyoto Protocol, Japan is obliged to cut greenhouse gas emissions by 6 percent on average between 2008 and 2012 from levels in 1990.
But meeting that goal appears to be difficult because preliminary figures show that Japan's emissions in fiscal 2006 actually rose 6.4 percent from the 1990 levels.
Against this background, the two exchanges apparently decided it is possible that the need for a domestic market will emerge naturally, according to the sources.(
HKEx looks to carbon trading
Hong Kong Exchanges and Clearing on Wednesday said it was looking to partner with an overseas exchange this year to create a trading platform for carbon credits or other emissions-related products.
It joins a number of its Asian rivals hoping to tap into the increasingly mature market. Mumbai-based Multi Commodity Exchange of India and the New Zealand Stock Exchange have both announced similar plans.
Most emissions-related trading take place in Europe under the European Union’s emissions trading scheme, with a smaller amount also traded through the Kyoto Protocol’s clean development mechanism.
Exchanges, however, have faced strong competition. In the EU ETS market, less than one-third of the carbon trade was conducted on exchanges, with the rest occurring either over the counter through brokers or in bilateral agreements.
Paul Chow, HKEx chief executive, yesterday also announced a plan to introduce trading in gold-related products within this year.
It joins a number of its Asian rivals hoping to tap into the increasingly mature market. Mumbai-based Multi Commodity Exchange of India and the New Zealand Stock Exchange have both announced similar plans.
Most emissions-related trading take place in Europe under the European Union’s emissions trading scheme, with a smaller amount also traded through the Kyoto Protocol’s clean development mechanism.
Exchanges, however, have faced strong competition. In the EU ETS market, less than one-third of the carbon trade was conducted on exchanges, with the rest occurring either over the counter through brokers or in bilateral agreements.
Paul Chow, HKEx chief executive, yesterday also announced a plan to introduce trading in gold-related products within this year.
Monday, January 14, 2008
Carbon Market Europe
European commission plans ending free carbon permit allocation in 2020; EUAs and CERs - abnormal price curves?; Romania sues commission over allocation; Energy and climate package high on EU agenda in next six months; UK says yes to nuclear; Dresdner Kleinwort, UBS launch new EUA-linked products; Norway to set up carbon credit web shop; EUA and CER closing prices and market comment
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