Word: carbonization
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...Republican-dominated Congress has not been much more encouraging. Senators John McCain and Joe Lieberman have twice been unable to get through the Senate even mild measures to limit carbon. Senators Pete Domenici and Jeff Bingaman, both of New Mexico and both ranking members of the chamber's Energy Committee, have made global warming a high-profile matter. A white paper issued in February will be the subject of an investigatory Senate conference next week. A House delegation recently traveled to Antarctica, Australia and New Zealand to visit researchers studying climate change. "Of the 10 of us, only three were...
...Head, the rock band didn't want the album's production and distribution to add to the greenhouse gases flowing into the atmosphere. So, working with a small British firm, the CarbonNeutral Co., the group bought 10,000 mango trees for villagers in Karnataka, India. Since plants breathe in carbon dioxide as they grow, Coldplay figures the mango trees will eventually neutralize all the CO2 released in the making and selling...
...sweet deal all around. Coldplay gets to do right by the environment; the impoverished Indian villagers not only get the mangoes but will also earn money from the CO2 locked in the trees when the gas is sold on a surging new market--one that trades carbon saved for carbon burned...
Capitalism is nothing if not adaptive, and its champions have responded to global warming with a market-based solution that provides polluters with a profit incentive to mend their ways. It's called cap and trade, and it is the mechanism behind the so-called carbon markets spawned by the Kyoto Protocol. Firms in developed countries that pump out more CO2 than they are allowed under limits imposed by Kyoto are required by the protocol to offset that pollution by buying credits on the carbon market. Those that cut CO2 emissions below their allowance or help polluters in developing nations...
Since January 2005, carbon markets in the European Union have traded at least 500 million tons of CO2. Because the Bush Administration dropped out of Kyoto, the U.S. doesn't participate in this booming global trade. But state governments are starting to set up regional carbon markets based on caps they establish under their own authority. In December, seven Northeastern states led by New York agreed to cut power-plant emissions via cap and trade, beginning...