Europe represents only 11 per cent of global emissions. What will the other 89 per cent do?
London, UK (PRWEB) September 26, 2011
Google recently disclosed its carbon footprint to the public. The search engine company also claimed that it has been carbon neutral since 2007 and shared its comprehensive campaign to maintain an environmentally clean status. iNVEZZ.com, UK’s leading online destination for carbon markets information, stated today that corporations like Google, which voluntarily take responsibility for their carbon emissions and employ continuous efforts to neutralize them, prove to their governments that investing in green initiatives is good for local economies. This, claims invezz.com, may encourage nations’ legislators to implement compliance regulations and work for the establishment of national carbon markets.
Google revealed last week that in 2010, it used a total of over 2 billion kilowatt-hours (kWh) of energy. To mend the environmental consequences of its energy consumption, the company has invested over $800 million in solar and wind power installations. It also sponsors a Duke University-based project, which utilizes methane from hog waste to produce electricity. As a long-term goal, Google’s objective is that by next year, 35 per cent of its electricity will come from clean power sources.
“We live in a world where one’s ethical actions matter only in the context of another’s. Responsibility … has a snowball effect on public behavior. If more companies engage in such clean initiatives, governments will see the positive economic impact of these projects and will reconsider looking at carbon markets and compliance regulations as a burden on the economy,” said Tonka Dobreva of green investments media Dezz, which operates invezz.com.
invezz.com further explains that offset initiatives will lead to job creation in clean sectors like alternative energy production and technology. Therefore, stricter air control does not contribute to the severity of nations’ economic crises, but simply alters the industrial landscape of local economies over time, shifting the weight from energy-intensive business practices to more cost-effective and efficient ones. If more companies invest in local clean initiatives, governments will see the positive economic impact of these projects and will be more willing to back clean air legislations, says invezz.com.
It is important for governments of industrialized nations to recognize the need for compliance carbon regulations, claims invezz.com. To support its position, the website cites European Commissioner Connie Hedegaard, who said in an interview last week, "What is the point of extending our commitments [to emission reductions] if none of the other big economies say that they are willing to follow, if not today, then at least at some time tomorrow?" The Commissioner was speaking in the context of the Kyoto Protocol, which is due to expire next year. The international community is due to come together at the United Nation Climate Change Conference in Durban, South Africa in November of this year. Representatives from the world’s governments will discuss future steps in climate change efforts and map out a post-Kyoto action plan. According to invezz.com, collaboration is the only path to creating a lasting environmental impact.
So far, the European Union Emissions Trading Scheme (EU ETS) has the most developed carbon trading program among all other compliance carbon markets. Europe accounts for only 11 per cent of global carbon emission. As a comparison, the United States is responsible for over 17 per cent of the global output and China chugs a quarter of all annual carbon levels. invezz.com claims that the way to convince these economies to establish compliance carbon markets is namely though corporate action, showing them that carbon compliance enriches, does not deplete, local industries from economic opportunities.
To read the full article, visit http://invezz.com/analysis/alternative-investments/what-are-carbon-credits-and-why-they-are-not-a-retail-investment-product.
Dezz is a UK-based boutique digital media company providing original and reliable up-to-date information in the area of carbon credit trading and sustainable investments to large investment company decision makers, NGOs and to eco-minded individuals.