Cement, Energy and Environment

- change, the Kyoto Protocol, whose first commitment period (2008 - 2012) sets emissions targets for rich nations that drive demand for carbon credits called certified emissions reductions. Courtesy: TERI (The Energy Resources Institute) Newswire, 16-31 Oct. 2010, P19. KYOTO PROTOCOL WILL CONTINUE BEYOND 2012: UN panel chief "The Kyoto Protocol will continue to exist beyond 2012 as it does not have a sunset clause," said Ms Christiana Figueres, Executive Secretary of the United Nations Framework Convention on Climate Change. The first commitment period of the Kyoto Protocol that seeks to reduce emissions by developed nations comes to an end in 2012. Speaking on sidelines of the Carbon Market Conclave 2010, Ms Figueres said that the governments are now negotiating for a second commitment period. "Whether there is going to be a second commitment period or whether countries want to take all the elements of the Kyoto and put them in different framework that is for them to decide," she added. Going forward, the climate change talks would be determined by pre-conditions such as the acceptance of deep targets by industrialized countries with the same rigour as envisaged in the Kyoto Protocol and the efficiency and scale of clean development mechanism (COM) projects, Ms Figueres said. It would also depend on the establishment of a regulatory framework in developing countries that recognizes the role of markets to leverage mitigation of carbon emissions. Stating that the global carbon market is dogged by uncertainties arising out of the lack of clarity on how COM would evolve and lack of deep targets on the part of industrialized countries, Ms Figueres said there are positive signals for climate change talks such as the reforms in COM, the G77 nations commitment to COM and the faith reposed by developed countries in reducing carbon emissions. Mr. Y.K. Modi, former president of FICCI and chairman of Great Eastern Energy Corporation, said there was a need for a clear direction on the manner in which the carbon credits should be treated in balance sheets. The Direct Taxes Code move to tax carbon credits would be discouraging for the industry; Mr. Modi said. FICCI views that carbon credits should be treated as export earnings. Further, Mr. Modi said that to facilitate advance payment guarantee by carbon credit buyers for Indian projects, the FEMA guidelines need to be suitably amended. Courtesy: Total Energy, Sep.-Oct. 2010, P30. INSURANCE CAN SPUR CLIMATE CHANGE INVESTMENT: S&P Climate change commentators have often spoken of capital markets as a source of funding, but many hurdles have to be overcome before institutional investors will allocate money to environmental projects in developing countries, according to S&P. There is a yawning gap of close to $200 billion between the current level of climate change finance and even conservative estimates by the World Bank of the amount required by developing countries, the ratings agency said in a report. Climate action in developing countries specifically mitigation and adaptation initiatives - requires important financing by the international community, from both public and private sources. Courtesy: TERI (The Energy Resources Institute) Newswire, 1-15 October 2010, P14. Carbon Capture CARBON CAPTURING 'SPONGES' Australian scientists said on 13.9.2010 they are working to develop "molecular sponges" that they hope will soak up carbon gases and help in the fight to contain green house gas pollution. Researchers at Sydney University have produced crystals full of minute holes which can retain gases such as carbon dioxide, and which they hope could be used in places where these gases are produced, such as power stations. "You could think of them a little bit like your kitchen sponge," lead researcher and postdoctoral fellow Deanna D' Alessandra told ABC Radio. The chemical frameworks are full of so many tiny holes or pores that they have a far greater surface area than would be expected from their size, she said. "So if you thought of all of the area inside of the little pores 59