WISTA AUGUST 2008 From the Desk of Chairman Environment Accounting: Part 13 - 20 Leaders of Group of Eight (G8) met in Toyako, Japan, in July 2008. Apart from discussions on oil prices, world energy situation, IPR, their deliberations revolved around environment and climate change. The summary statement issued at the end of the summit acknowledged the role each of the G8 countries need to implement in order to achieve absolute reduction in emissions. Though the leaders agreed on a goal of 50% reduction in CO2 emissions by 2050, no detailed plans for working towards that goal were suggested. As such, it is generally felt that G8 summit has not been able to deliver enough and the results fall short of meeting the interlinked global challenges of energy security and climate change. The Special Feature in the present issue of WISTA: Environment Accounting gives a gist of G8 deliberations, specifically concerning climate change, as also comments by stakeholders on the outcome of the summit. It is surmised that if early actions for reducing GHG emissions are not taken, it would severely impact climate change. The ‘Perspective’ deals with carbon trading and the business opportunity it holds for India and other developing countries. Since many of the developed countries are lagging behind their Kyoto commitments, with the right strategies and approach, India could reap much benefits out of carbon trading. However, it is imperative that it should implement international transaction laws, proper regulatory mechanisms, and develop expertise and methodology of certification process. High oil prices and the ever rising demand for energy have spurred research to develop viable ways to produce biodiesel from agricultural sources, particularly from algae. However, harvesting algae and extracting oil from it pose technical as well as cost-based hurdles. Researchers are seeking the best of approaches for cost-effective commercial production of oil from algae. ‘In Focus’ highlights the potential algae hold as a source of bio-fuel, and the advantage of its being grown in areas unsuitable for agriculture, or even in desert areas. Other features covered are: Green & Noteworthy; Accounting for Air, Water, Waste; Legal Scene; Energy Scene; Case Study; Experts Converge; and Knowledge Spreads. We welcome comments and suggestions. Dr K V Swaminathan CONTENTS RESEARCH & ANALYSIS TEAM • From the Desk of Chairman [ P 2 ] Mr K N Julka Jt Director • Green & Noteworthy: Carbon Trading Scheme (Australia); Mr Suresh Kumar Jt Director Saving Tonle Sap Lake (Cambodia); Unmanned Petrol Service (Ireland); Mr D P Singh Director Trial System for Carbon Trading (Japan); Green-Tech Business (USA); Mr S S Kalra Director [P 3-4] • Accounting for Air: Quality Carbon Credits; Solving Global Warming Problem; Writing Off Green Guilt. [P 5] This publication aims at disseminating information on • Accounting for Water: Tackling Water Pollution; Water Diversion pertinent developments in its Plan Criticized. [P 6] specific field of coverage. The • Accounting for Waste: Incineration, A Dinosaur Technology. [P 7] information published does not, • In Focus: Bio-Fuel from Algae. [P 8] therefore, imply endorsement of any product/process/producer or • Special Feature: G8 Summit and Climate Change. [P 9-11] technology by WITT. • Legal Scene: Forest Service Sued; Suit for Disturbing Wildlife. [P 12] • Perspective: Carbon Trading: Opportunities for India. [P 13 - 14 ] Editor : Dr K V Swaminathan Printed and Published by • Case Study: New Nuclear Power Stations. [P 15 - 16 ] Dr K V Swaminathan, on behalf of • Energy Scene: Energy Wastage in IT; Future of Nuclear Power; Waterfalls Institute of Technology Solar Power Gains Momentum. [P 17] Transfer, J-29 South Extension Part I, • Experts Converge: Environmental Impact Assessment; Trade Fair for New Delhi - 110 049. Water, Sewage, Refuse, Recycling and Natural Energy Sources; Water Reuse and Desalination; World Aqua Congress. [P 18] Printed at Sagar Printers, • Knowledge Spreads: A Field Guide on Eco-friendly Print; China Sewage 1880, Udaichand Marg, Treatment Industry; Decentralized Water and Wastewater Systems; Kotla Mubarakpur, Kick the Habit. [P 19] New Delhi - 110 003. VOL 10 ISSUE 2 1 ENVIRONMENT ACCOUNTING SEC 1 WISTA AUGUST 2008 needs to relate climate and physical change to people GREEN & NOTEWORTHY and social changes-to identify relationships between physical changes, and social consequences,” said Eric Carbon Trading Scheme Baran, research scientist at the Phnom Penh office of the World Fish Center, a research organization Australia relies on coal to generate about 77% of headquartered in Malaysia. the country’s electricity. There is a danger that if corporate welfare schemes only are encouraged, it’s The Cambodian government has begun looking just going to prolong the uses of coal. 'Coal is not the at the problem, creating a climate-change office in solution, coal is the problem,' said the Greenpeace CEO 2003 and undertaking a climate-change vulnerability Steve Shallhorn. assessment in 2001. But neither of those measures has focused specifically on Tonle Sap Lake, so the questions To reign in rising emissions in the world’s top per there persist. capita greenhouse gas polluter Australia, economist Ross Garnaut has drafted a carbon trading scheme. For (Cambodia-Climate Wire, Jun 10, 2008) him, Australia was critically at risk from climate change. Unmanned Patrol Service He urged deep cuts in emissions from the world’s top coal exporter. Featuring a number of eco-friendly specifications, the first unmanned, card-operated service station, But Prime Minister Kevin Rudd is under pressure to has opened on the Aran Islands. It is located on Inis Mor soften the impact of inevitable energy and fuel price rises and is home to a recycling center. It has capacity to from an emissions cap-and-trade scheme. He had been store and provide biofuels in the near future. urged to go further than his current goal to cut greenhouse gas emissions by 60% by 2050. VISIT OUR WEBSITE FOR ENVIRONMENT RELATED PROBLEMS Under Garnaut’s proposals, businesses that pump AND ALSO WIN A PRIZE out less greenhouse gas than their allowable limit, WITT ENVIS WEBSITE is a national repository and would receive credits and would be able to sell dissemination centre on Environment Audit & Accounting. permits bought at competitive auction to pollute to It parks compilations of Environment Audit Reports, firms exceeding their carbon emissions quota. He Guides, news items, books, periodicals, as also list of stressed that emission scheme should not become a Environmental Experts, Institutions and other ENVIS government revenue-raiser, suggesting 50% of the likely Centres. It also contains two biomonthly updates A$ 15-20 billion raised from permit auction should be published by WITT, ie, WISTA: Environment Audit returned to households, 30% to hard-hit businesses. and WISTA: Environment Accounting, as also the The other 20% would go to renewable energy. monthly ENVIS Newsletter. The Website facilitates meeting the emerging (Australia- Environment News Network, Jul 4, 2008) information needs of industries and institutions for managing environmental, social, and business issues and Saving Tonle Sap Lake securing eco-friendly sustainable development. Hotter summers and dropping water levels in the The WITT ENVIS centre also provides information and world’s most productive fisheries, Tonle Sap Lake, guidance to industries concerning environmental/ that provides 60% of the Cambodian protein and pollution problems. 12% of its people with a living, have threatened Contact us on; Email: [email protected], lake’s future along with fish supplies and the upkeep [email protected] of the people who depend on them. We will appreciate receiving your feedback. It will help To help pinpoint climate change’s impact on people us make our services more user-friendly; and you may and livelihoods, more is needed than just global win a prize too. modeling which looks at steady increase in worldwide So Visit temperatures. “There’s a whole area of science that http://www.wittsenvis.org ENVIRONMENT ACCOUNTING 2 WISTA AUGUST 2008 This facility will offer green and white diesels mulling over the idea to impose environment tax. besides home heating oils to locals. (Japan –InterActive Carbon Markets Community, The station will be operated by Comharchumann Jun 9, 2008) Forbattha Arann Teo and Top Oil. Green-Tech Business “We are all aware of the challenges posed by climate change and the need to find more sustainable energy California’s Air Resources Board (ARB) had source and practices”, said Minister of Community, proposed mixed approach meant to blend market Rural and Gaeltacht Affairs Eamon O’Cuiv. “I was structures with direct regulation to achieve the nation’s pleased to fund an electric minibus on Inis Oirr recently most comprehensive plan to combat global warming. and I am delighted to open this facility.” The agency’s long-awaited plan for trimming GHGs in California to 1990 levels by 2020, targets major (Ireland-edie.net, Jun 24, 2008) emitters under the states’ climate change law, A.B.32, applying a medley of overlapping rules to cap CO2 Trial System for Carbon Trading and other GHG emissions at 365 million tonnes of CO2 equivalent by 2020. That’s a 30% reduction from A trial system for carbon trade, seen as an current output, by the state’s count. effective way to reduce greenhouse gas emissions, will commence in Japan in the autumn in pursuance of a The centerpiece of the ARB’s so called scoping new climate change policy to set a goal for cutting plan, is a cap-and-trade market meant to connect greenhouse gas emissions by 2050. World’s fifth states throughout the West in an unprecedented largest emitter, Japan hopes to cut its emissions by carbon exchange that could set the stage for 14% by 2020 from the current levels, and by 60-80% by national system. 2050. It will announce an interim target sometimes next year and contribute upto $ 1.2 billion to a new A prominent recommendation of the plan is multilateral fund with the United States and Britain boosting the state’s renewable portfolio standard that will help countries fight global warming.