Carbon trading / Ball Action Plan –COP- 13

Carbon trading

It is a name given to the exchange of emission permits. This exchange of emissions may take place within the economy or may take the form of international transactions. Emission permit is known alternatively as carbon credit. Carbon credits are certificate awarded to the countries that are successful in reducing the emissions that caused global Warming. Carbon credits are measured units of certified emission reduction and each CER is equivalent to 1 metric ton of CO₂.

Methods/ Types of carbon trading

·         Emission trading / Cap and Trade – when a country is able to reduce its emissions by more than the specified amount it can exchange some of its credit to another country who fails to reduce its emission level as per assigned amount. This kind of exchange of emission allowance is called emission trading.

·         Offset trading – In this a country can invest in carbon projects abroad to earn carbon credit and thereby meet its reduction commitment. Offset trading is thus nothing but investment abroad in Carbon-project. According to Kyoto protocol if such a joint venture is between developed countries it is called joint implementation, while if it is taken along with any developing and poor country it is called clean development mechanism (CDM) .

Reducing GHG Emissions: Kyoto Mechanisms-

The UN’s Kyoto protocol established binding greenhouse gas emissions reduction targets for 37 industrialized countries and the European community. To help achieve these targets the protocol introduced three “flexible mechanisms”- international emissions trading (IET), joint implementation (JI), and the clean development Mechanism (CDM).

Parties to UNFCCC / Evaluation of Kyoto Protocol

Parties to UNFCCC are classified as:

·         Annex  I countries – industrialized countries and economies in transition

·         Annex II countries – developed countries which pay for costs of developing countries

·         Developing countries.

Annex I countries which have ratified the Protocol have committed to reduce their emission levels of greenhouse gasses to targets that are mainly set below their 1990 levels. They may do this by allocating reduced annual allowances to the major operators within their borders. These operators can only exceed their allocations if they buy emission allowances, or offset their excesses through a mechanism that is agreed by all the parties to UNFCCC.

Annex II countries are a sub-group of the Annex I countries. They comprise the OECD members, excluding those that were economies in transition in 1992.

Developing countries are not required to reduce emission levels unless developed countries supply enough funding and technology. Setting no immediate restrictions under UNFCCC serves three purposes:

·         It avoids restrictions on their development because emissions are strongly  linked to industrial capacity

·         They can sell emissions credits to nations whose operators have difficulty meeting their emissions targets

·         They get money and technologies for low- carbon investments from Annex II countries.

Developing countries may volunteer to become Annex I countries when they are sufficiently developed.

Recognizing that developed countries are principally responsible for the current high levels of GHGs emission in the atmosphere as a result of more than 150 years of industrial activities, the protocol places a heavier burden on developed countries under the principle of common but differentiated responsibilities. The Kyoto protocol was adopted in Kyoto in Japan on December 11, 1997 and entered into force on Feb 16, 2005.

Evaluation of Kyoto Protocol

International Remedial Measures

A.      For Ozone Hole

(1)    Vienna convention, 1985 for protection and maintenance of ozone layer.

(2)    Montreal Protocol on substances that Deplete the Ozone Layer, 1987 (a protocol to Vienna Convention). It was established to protect ozone layer by phasing out the production of ozone depleting substances such as CFCs, halons by 1996. It gave 10 years extension period for developing countries.

(3)    Toronto Summit, 1988 for reduction in the emission of CO₂.

(4)    London Convention 1989: it sought (a) ban on CFC and halons by 2000; (b) recognition of methyl chloroform and carbon tetrachloride as ozone depleltors; (c) setting up of special fund.

(5)    Inter – Government Panel on Climate change (IPCC) was formed in 1988 by UNEP and WMO.

B.      For Global warming

1.       First Earth Summit or United Nations Conference on Environment and development, 1992: 

Global warming / Green house Gas effect

Green house Gas effect

Green house is a glass house that helps in artificial cultivation of plants by providing a conducive environment for their growth. GHE was given its name by French physicist named Joseph Fourier in 1827 who compared the Earth atmosphere to a closed glass vessel and observed that air around the earth filters sunlight exactly like glass roof.

Global warming refers to phenomena of increased trapping of terrestrial radiations (infra-red waves) because of increased concentration of GHG resulting in increase of average global temperature on the earth surface. GHG that are responsible for Green House effect in atmosphere include carbon –di-oxide

(Largest volume), methane, and chlorofluorocarbons (highest trapping capacity, oxide of nitrogen, sculpture hexafluoride and water vapors. GHG found in atmosphere cover the earth like a blanket. Although high concentrations of these gases are harmful to the environment, if these gases would not have been there then the temperature of the Earth would have been 18 ⁰C or- 19⁰ C. Of all GHG emitted in the atmosphere CO₂ and CH₄ are having maximum concentration, they both together account for 90% of the GHG emissions.

Because of excessive deforestation, use of fossil fuel, automobile exhaust and various other industrial activities. The level of CO₂ especially has significantly increased which has resulted in increased temperature of earth surface, in 1957 it was recorded 311 ppm (parts per million) and in 2005 it was recorded as 379 ppm. Global warming has occurred in two phases from 1910 to 1940 by about 0.350⁰C and more strongly from 1970 onwards to the present by about 0.55⁰ C, taking the global temperature to about 14.4⁰C. If the increased concentration of CO2 and other GHG continues this way by the end of 21^st century, earth will became altogether an inhabitable planted.

Impact of Global Warming

Mechanisms of Ozone Depletion

1.       Natural process: Ultra Violet Solar Radiation; increased solar radiation from sun sports; redistribution of ozone due to upper atmospheric circulation.

2.       Anthropogenic Processes: The chlorofluorocarbons (CFC) and halous released from synthetic chemicals using devices such as refrigerators, spray can dispensers etc reach stratosphere and breakdown the ozone molecule. Similarly sulfur aerosols e.g. HF₆ emitted from factories, nitrous oxides (NO) molecules released from jet places cause destruction of ozone molecules. With rise in worldwide aviation travel NO release into stratosphere is rising causing both ozone depletion and global warming. A large ozone hole was observed to have been formed over Antarctica but measures taken subsequent to Montreal Protocol have substantially helped to recover the hole with ozone again.

Effects of Ozone Depletion

1.       UV rays will reach earth’s surface causing rise of earth’s temperature causing global warming. CFC increases the greenhouse effect of greenhouse effect of CO₂.

Processes of Global warming

Major sources and processes of Global warming include ozone depletion and greenhouse effects. Ozone depleting substances contribute to global warming by increasing UV radiation.

1.       Ozone Depletion: The stratospheric ozone layer is mostly concentrated between attitudes of 12km to 35 km from earth’s surface. It is considered as protective shield and earth’s umbrella because it prevents ultra violet (UV) solar radiation from reaching the earth’s surface. Thus the presence of ozone layer in the stratosphere is of vital significance for all biota including plants, animal and man in the biosphere. In the absence of this layer no life is possible in the biosphere because all the UV rays of the sun will reach earth’s surface and consequently temperature of the earth’s surface and lower atmosphere will rise to such an extent that the earth will turn into a blast furnace.

The ozone is produced by the actions of UV rays on ordinary oxygen atoms by the photochemical process which is responsible for the constant transformation of oxygen to ozone and form ozone back to oxygen.

O₂ + O ≈O₃

Thus constant formation and destruction of ozone is natural process if not interfered by man.

GLOBAL WARMING & CLIMATE CHANGE

Global warming refers to gradual rise in atmospheric and ground surface air temperatures and conseques changes in global radiation balance, caused mainly by anthropogenic processes leading to climatic changes at different levels. Global warming is a result of rise in proportion of atmospheric green house gases (GHG) than their normal level. The rise of GHG levels has been attributed to the process of industrialization, urbanization and pollution caused by vehicular, industrial, domestic and agricultural emissions. The main component gases of GHG emissions are – carbon dioxide, methane, chlorofluorocarbons, nitrous oxide and ozone. The processes of global warming have led to the effects of climate change, the evidences of which have been scientifically corroborated by international panel on Climate Change (IPCC), formed under United Nations Framework Convention on Climate Change (UNFCC) and constituted by United Nations Environment Programme (UNEP) and World Meteorological Organization (WMO).

Evidences of Global warming:

1.       Increase in air temperatures: It has been estimated that the overall increase in the air temperature in 20^th century has been about 0.5 to 0.7º C. The 1990s saw seven out of ten warmest years of last century. The global circulation models have shown rise of 0.4 to 0.8º C in the 20^th century. The increase in frequency of EI Nino events, hurricanes and cyclones between 1970s to 2012 also denotes climatic changes due to warming of earth’s surface and its atmosphere. IPCC report has shown that concentration of atmospheric CO2 has increased.

2.       Melting of Mountain and Continental Glaciers: Many reports have suggested that Himalayan   Glaciers have receded. Similarly there have been reports of retreat of glaciers in Alps of New Zealand. Mt. Kenya has lost its most extensive glaciers in the past century. The glaciers of Greenland too have been detaching and receding at fast pace.

3.        Warming of Ocean Water and melting of ice Sheets and ice Bergs in Antarctic and Arctic Sea.