CEE Oct-Dec 2012

geographical area within weeks. Both are hugely damaging to infrastructure and crops. What is clear is that such a change is not a remote prospect which might occur in the second half of the century but a clear and present danger which is affecting different parts of the world now." Courtesy: The Financial Express, New Delhi, 29.09.2012. CARBON PRICING MECHANISM OF AUSTRALIA • From 1 July 2012, Australia's Carbon Pricing Mechanism (an emissions trading scheme) has put a price on greenhouse gas emissions. • The Carbon Pricing Mechanism will start with a fixed carbon price for three years The fixed price will be set at $23 per tonne of carbon dioxide equivalent in 2012/13 and will rise to $24.15 in 2013/14 and $25.40 in 2014/15 Starting with a fixed price will provide stability and predictability to companies • The Carbon Pricing Mechanism will transition to a flexible price "cap trade" scheme of 1 July 2015 The carbon price will be determined by an internationally linked carbon market, with firms able to use international permits for compliance • By May 2014 the Government will set annual emissions caps from 2015, taking into account recommendations from an independent body, the Climate Change Authority • The Carbon Pricing Mechanism will ensure Australia can meet international emission reduction targets, including: The unconditional 5 per cent reduction (against 2000 levels) by 2020 - equivalent to a 23 per cent decline below projected emissions; and - Australia's long-term target of an 80 per cent reduction by 2050 • Australia is among many other countries taking serious domestic action to cut emissions • From 1 July Australia joins 32 other countries with national emissions trading schemes: the EU 27, Norway, Iceland, Liechtenstein, Switzerland and New Zealand 26 of the 34 OECD countries, including Australia, have national emissions trading schemes • The Carbon Pricing Mechanism is one element of Australia's Clean Energy Future Plan The Government wil l also invest $10 billion in a new Clean Energy Finance Corporation to leverage private sector financing for renewable energy and clean technology projects In the land sector, the Carbon Farming Initiative will allow farmers and land managers to generate credits that can be sold to other businesses wanting to offset their emissions. Courtesy: Total Energy, Jul.- Aug. 2012, P30. News Brief · Water BUREAU OF WATER CONSERVATION MOOTED TO POPULARISE SAVING, RECYCLING METHODS A bureau of water conservation, on the lines of the Bureau of Energy Efficiency, must be created to popularize water saving and recycling methods among domestic and industrial users, claimed experts. In a conference on water management organized by the Confederation of Indian Industry (CII), experts from industry and government sector underlined the need for a holistic approach towards efficient water use and strategies to meet the growing long-term demand. A dedicated bureau for conservation would help promote recycling of the resource. Vibhu Nayar, Project Director, Tamil Nadu Irrigated Agriculture Modernization and Water Resources Management Project (IAMWARM), called upon the industrial sector to ensure self– regulation on water use and check pollution. The Cll must also come up with benchmarking methods for best procedures to decrease water footprint, he said. Industries must create a water map to assess and reduce water use in manufacturing processes. Highlighting government initiatives to improve water productivity, Mr. Nayar said that industries 22 ... I