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The Business of Emissions’ Trading in Global Energy Markets
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Issues, Challenges and Emerging Scorecard on Kyoto Protocol and Beyond:
The Greenhouse Gas Abatement Program
(GGAP) is a global commitment of Nations in meeting Kyoto Protocol targets, particularly in its first commitment period (2008-2012). In emerging energy markets, environmental initiatives in economic terms, in association with Governmental taxation reforms for Carbon-energy producers, is a key part to measure, the Acceptance, Implementation and Networking of international emissions’ trading system, leading to evolve Greenhouse Friendly Certification Program. The paper emphatically describes energy-market directions, on long term emissions’ signature by Establishing Trading-Boundaries, Issuing the permits, Crediting the carbon, Designing the market, and Accounting for GGAP project abatement and sequestrations. The industry's determination to develop a long term global greenhouse strategy and the views of its stakeholders will have a significant bearing on design of future scorecard on emissions’ trading, through Capacity-Building on low carbon technology, and creating Carbon-Trust to support developers and investors in low carbon economy. The paper further explores menu of economic instruments in framework of state regulations, that can be applied in energy markets. The scope of this exploration is focused to derive pathways and policies for developing emissions’ trading scorecard, funding for substantial Greenhouse Gas Abatement Program, and developing voluntary ‘credits’ arrangements that could assist industry to manage the risks associated with possible future greenhouse constraints.The paper concludes in deriving, ‘Roadmaps’ in an ‘Economic Modeling’ for implementing the mechanisms of Kyoto Plus to manage climate change. The exploitation of Coal bedded Methane as alterative Hydrocarbon deposits as well as exploration and production of Frontier Petroleum Deepwater Provinces with huge accumulation of Gas Hydrates & Natural Gas, releasing Methane to the atmosphere, is also incorporated in this modeling, to take into account of ‘Environmental Modeling Aspects of Gas Hydrates & Natural Gas in context of Climate Change’, in its future sustainable exploration and production on long term energy demand.
Author: Dr. Jagdish P. N. Giri,
Founder and Executive Director, Aaditya Energy Foundation, Chennai, India,
www.aadityaenergyfoundation.org,
E-mail:jpngiri@aadityaenergyfoundation.com
Published: December 31, 2006
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