An Examination Of Carbon Trading Environmental Sciences
The CO2 emission levels have 0.4 Gt CO2 increased against 2007 and 2008, which would indicate the growth in the rate of 1.5% but, in trends varied greatly: The reduction of emission Annex l countries over 2% wherein emission of non-Annex l countries improved from 6% through the diverging trends, in 2008, the collective emission of the increasing countries that were bigger that the developed countries.
The sudden change from the fuels was not equal from sectors and regions. Due to the coal and demand this cause the increase in emissions for escalating countries but, in the decrease of developing countries because of insist from coal and oil. From the CO2 emissions in 2009 that would be comparable to 2008. The Emissions in the developing countries would boost in the growing spending from the fuels in some developed and large countries.
Developed countries will carry on to decrease in 2009, from the double drop down in 2008 due to the present financial crisis, that hold back in economic events and price signal established from the consumers from the high energy prices between the observations in 2008.
Annex I CO2 emissions, in the medium term perspective were expected to rebound economic conditions pick up. The projects of World Energy Outlook (WEO, 2009), in a Reference Scenario state that the emission of carbon dioxide in the world from combustion of fuel will likely grow unabated which may reach 40.2 Gt CO2 by 2030.
With this emission growth, the trend would be the worst case scenario according to the Intergovernmental Panel on Climate Change or the IPCC which may result to an average increase of 2.4 to 6.4 °C by the year 2100.
In the year 2008, majority or 43% of CO2 emissions from fuel combustions have been produced from coal, 37 percent from oil and 20 percent from gas. The growth of these fuels: coal, oil and gas reflects varying trend which are perceived in the future. From the beginning of 2007 -2008, the carbon dioxide emissions from the combustion of coal have increased significantly by 3% which represent 12.6 Gt of CO2. At present, coal is taking much of the growing demand of energy among majority of developing countries such as India and China. This is because these countries need intensive energy supply for their industrial productions.
On the other hand the percentage of Carbon Dioxide emissions from oil combustion has constantly remained since 2008. It has also been recorded that the percentage went down or decreases by 0.7% this year. This declining value or share of Carbon Dioxide emission from oil combustion according to TPES or Total Primary Energy Supply is related to the increasing use of coal and gas penetration.
These factors have limited the increase of carbon dioxide emissions from oil. According to WEO projects in the year 2009, the carbon dioxide emission from oil may grow or increase to 13.6GT CO2 in year 2030. On the other hand, carbon dioxide emission from gas has been perceived or predicted to grow and increase to 8.0 Gt CO2 in the year 2030.Figure 2: Change in CO2 Emissions by Region (2007-2008)
The figure above shows the top ten countries that greatly contribute in the production of CO2 emission. The figure shows that among the top contributor countries was China including Hongkong, Middle East, and Other countries in Asia excluding China, Latin America, Africa and other Annex 1. Based from reports, 2007-2008 the trend of carbon dioxide emission has varied significantly by region. It has been reported that the percentage of emission from those countries that belong to non-Annex 1 has grown by 6% while those countries who belong to Annex 1 has significantly decrease its CO2 emission by 2%.
This scenario may aggregate emission from developing countries towards overtaking those developed countries. At the regional level (Figure 3), CO2 emissions increased significantly in China (8%), the Middle East (7%), other Asia (4%) and Latin America (4%). However, regional differences in contributions to global emissions conceal even larger differences among individual countries.Overview of Carbon Trading:
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