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Sustainability Indicators for Energy Systems in Economic and Environmental Context in 21st Century
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A critical analysis of the 20th century Carbon Economy is a derivation of three basic spectra on
Global Energy Trends: (1) Availability of fossil resource base and emergence of natural gas as major fuel on environmental sustainability in mid century term, (2) Development of sustainable energy portfolios on Nuclear or Natural Gas produced Hydrogen and Renewables and (3) Applications of CDM, Emissions’ Trading and Greenhouse Gas Abatement Programs at Energy Business at large, for an outlook period till 2050. In emerging energy markets, specifically Gas Based Carbon Economies of 21st century, environmental initiatives in economic terms, in association with Governmental Taxation Reforms for Carbon / fossil energy producers, are the key parameters in deriving Sustainability Indicators to measure, the Acceptance, Implementation and Networking of International / Regional Emissions’ Trading Schemes within Regulatory Framework and Financial Subsidies, leading to evolve Greenhouse Friendly Certification Programs for improving Gas Market conditions at Carbon Energy Business among Asian Nations. The paper emphatically describes dominating gas market directions in particular, on a long-term emissions’ signature by Establishing Trading-Boundaries, Issuing permits, Crediting carbon, Designing Gas Market Orientations, Accounting for GGAP and emissions’ sequestrations for reducing environmental risks in economic framework. Energy Industry's determination to develop long term global greenhouse strategy for environmental sustainability of 21st century gas based carbon economy by incorporating elements of Global Climate Change and views of stakeholders will have a significant bearing on design of future business scorecards of growing gas market on the matrices of emissions’ trading, through Capacity Building on low carbon-technology, and creating Regional Carbon Trust to support developers in low carbon-economy on evolving parameters of Carbon Accounting. The paper explores the menu of economic instruments in the framework of state regulations, regional and international agreements and global environmental standards that can be applied to wider energy market spectra from carbon to hydrogen with the perspectives of natural gas. Strategies for managing environmental risks of carbon economy in 21st century, are focused to derive pathways and policies for developing emissions’ trading scorecards, funding for substantial Greenhouse Gas Abatement Programs, and developing voluntary ‘credits’ arrangements that could assist energy industry to manage the risks associated with possible future greenhouse constraints on wider and dominant uses of natural gas, during the Lead Time, while transforming Global Energy Systems into sustainable energy portfolios of 21st century. The paper conclusively introduces a new dimension on Asian Energy Policy and Sustainable Economy in 21st century, by integrating: (1) Asian / Regional linkages among energy, environment and natural resource economics on sustainability indicators; (2) Development of sustainable energy portfolios on environmental sustainability modeling; (3) Econometric derivation of energy market orientations based on community information systems and technology development; and (4) Linkages of technology, information and resource economy for converting global energy systems into a sustainable economy of 21st century on social & environmental dimensions. In the arena of environmental and resource economics, these dimensions will lead to derive Developmental Indices for sustainable Economy and Asian Energy and Environmental Policy in 21st century through Carbon and Carbon Energy Management in Mid Century Term.
Author: Dr. Jagdish P. N. Giri
Founder and Executive Director, Aaditya Energy Foundation, Chennai, India
ECONOMIC AND SOCIAL COMMISSION FOR WESTERN ASIA"The Arab Regional Forum on Energy for Sustainable Development : Strategies, Policies and Plans"1st February 2007; Abu Dhabi
Published: December 24, 2006
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