GLOBAL WARMING
It is widely known that the earth has undergone many changes in its history which have included events such as the ice age, major volcanic eruptions and changes in the Earth's orbit, to name but a few.However, there is also very little doubt that the burning of fossil fuels, such as coal and oil, over the last 200 years when the industrial revolution took place, together with world deforestation, has resulted in the warming of the planet because the greenhouse gases that are released into the atmosphere are trapping heat and raising the Earth's temperature. Whilst a certain amount of greenhouse gases are necessary to keep the planet warm enough to sustain life as we know it, this increase has many consequences such as rising sea levels, melting ice caps and extreme weather conditions which have been witnessed and recorded over many years. It is uncertain what the long term effects of this will be but most experts agree that human activity is largely to blame for this phenomenon and predict that unless measure are taken, the end results could be catastrophic.
KYOTO, EUROPE & AMERICA
The Kyoto Protocol was born out of the global meeting held in Kyoto, Japan in December 1997 by 160 nations to establish a workable way forward towards cutting greenhouse gases on a global scale. Under this protocol, industrialised countries agreed to cut their emissions collectively to a level that is 5.2% lower than in 1990. Each nation's target ranged from 8% for the European Union, 6% for Japan and so on. Although the USA has not ratified the protocol President Barack Obama has made it clear from the start of his presidency that reducing emissions is very much a priority on his agenda.
"To truly transform our economy, protect our security and save our planet from the ravages of climate change, we need to ultimately make clean, renewable energy the profitable kind of energy."
Interestingly when petrol prices increased significantly in the US, sales of the Toyota Prius and Honda Insight, 2 hybrid "green" energy saving cars, notably increased also. However, when petrol prices fell again to more acceptable levels, so did the sales of the hybrid cars. Whilst many organisations and individuals genuinely care for the future of the planet, it is undoubtedly true that the majority are driven more to either saving or making money than they are of saving the world.
For more in depth information on the Kyoto Protocol please click here: Kyoto Protocol
Recognizing that developed countries are principally responsible for the current high levels of Green House Gas emissions (GHGs) into the atmosphere as a result of almost 200 years of industrial activity, the Protocol places a heavier burden on developed nations under the principle of "common but differentiated responsibilities."
At present the largest carbon emissions market is the European Union Emission Trading Scheme (EU ETS) which debuted in 2005 as a market for EU-member states in compliance with Kyoto.
In Europe, the cap-and-trade system works by allocating a limit on carbon emissions production for industries that typically decreases annually, then lets market contributors sell or trade any unused credits to other industry participants.
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Carbon Central Network
