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...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 clean up their act get to sell the credits--as do groups that cut greenhouse gases by, among other things, planting trees...
...winds up--in alternative energy, forest conservation or energy efficiency. Co-founder Eric Carlson says Carbonfund has offset about 40,000 tons of CO2 so far. That's not much. But its ultimate aim, he says, is to channel what support it gets into driving down the cost of clean energy--and, along the way, increase awareness of climate change. "There is an educational value in these things," says Judi Greenwald of the Pew Center on Global Climate Change. "People realize that what they do can make a difference." So, apparently, do rock stars. --By Unmesh Kher...
...ENERGY ENGINEER Clean Power For China...
Even if he succeeds, Cinergy's environmental record will be far from perfect. A $1.4 billion settlement with the Environmental Protection Agency over alleged violations of the Clean Air Act fell apart when Cinergy backed away from the deal. The original suit is slowly working its way through the courts. And Cinergy supports Bush's efforts to roll back provisions of the Clean Air Act that govern utilities...
...release specified amounts of carbon. Companies having trouble cutting emissions could buy allowances from firms that have unused permits. Or they could pay farmers to store carbon and developing nations to preserve forests. The idea comes from a concept developed by Environmental Defense when Krupp helped draft the 1990 Clean Air Act. It set up a trading system to control sulfur dioxide. Krupp believes similar financial incentives could slow global warming. "Once you put a value on carbon reductions," he says, "you make winners out of innovators. You offer a pot of gold." --By Charles Alexander...