There's No Smoke If Money Is Concerned; Clean Air: UK's Emissions Market Launches to Help Companies Reduce Pollution

The Birmingham Post (England), April 2, 2002 | Go to article overview

There's No Smoke If Money Is Concerned; Clean Air: UK's Emissions Market Launches to Help Companies Reduce Pollution


Byline: Neil Chatterjee

British firms are hoping to make money out of cutting the greenhouse gases that contribute to global warming, as Britain's fledgling emissions trading market gets its official launch today. Emissions trading has been embraced by Britain, Denmark, Norway and the European Union as a way of helping companies to reduce pollution as part of the UN Kyoto Protocol.

The UK target is to cut greenhouse gas emissions by 23 per cent on 1990 levels by 2010, well above the average of 5.2 per cent that industrialised countries are committed to by the protocol.

Certain companies have voluntarily agreed individual targets with the Government, for which they can gain a cash incentive or tax rebates.

If a company reduces its emissions by more than its target or invests in renewable energy it gains credits or allowances, which it can sell. Companies that do not make their targets can buythese allowances to offset their emissions, either directly or through brokers.

'It's been free to pollute, now it costs to pollute,' one of the new breed of emissions traders said. Though Britain's scheme is is starting only now, forward trades under the UK regulatory system began last September.

Market prices for UK emissions credits or allowances are at pounds 3 to pounds 6 per tonne of carbon dioxide, brokers and traders said. 'This is the range of prices, it's not a hugely liquid market yet but it has potential,' said Albrecht Von Ruffer, broker at emissions trader Natsource.

Recent weeks have seen a handful of trades, though details remain confidential, said Mr Von Ruffer.

Emissions trading was one of the means set out by the Kyoto Protocol to reduce pollution. Globally there have been more than 65 trades totalling 50 million to 70 million tonnes over the past five years, according to a report released this month by the US environmental group The Pew Centre.

However the world's biggest polluter, the United States, pulled out of the deal last year and has rejected a national emissions trading system for carbon dioxide, saying it would hurt economic growth.

The protocol could lead to a global market in greenhouse gas emissions from 2008. The UK is keen to kick start the process.

'We think this gives British companies experience of trading and a first advantage - and it's a good way of reducing emissions,' said a Government spokesman. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

There's No Smoke If Money Is Concerned; Clean Air: UK's Emissions Market Launches to Help Companies Reduce Pollution
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.