#cdm- clean development mechanism

[vikram-blogs]

Tax Implications of Carbon Credit Generation in India: MCA Consulting Insights

Amidst escalating environmental concerns, organizations globally are embracing sustainable practices, including the trading of carbon credits, or Certified Emission Reductions (CERs). However, in India, this noble pursuit is intertwined with complex tax implications.

Understanding Carbon Credits

Carbon credits, born from the Kyoto Protocol of 1997, serve as tradable permits for greenhouse gas emission reduction. Generated through initiatives like the Clean Development Mechanism (CDM), they allow entities to offset emissions by investing in eco-friendly projects elsewhere.

Tax Conundrum

Tax treatment of carbon credits under India's Income Tax Act, 1961, was historically ambiguous. Revenue authorities perceived them as taxable business income, while taxpayers argued for their exemption as capital receipts. In response, Section 115BBG was introduced in 2017, prescribing a 10% flat tax rate on carbon credit income.

Challenges and Controversies

Despite legislative efforts, disputes persist. The failure of Section 115BBG to categorize carbon credit income as revenue or capital leaves room for interpretation, fueling legal debates. Recent tribunal rulings highlight the complexity, emphasizing the need for precise legal frameworks.

The Road Ahead

As cases await adjudication in higher courts, the future of carbon credit taxation in India remains uncertain. The outcome will not only influence tax policies but also shape environmental initiatives and investment decisions. Striking a balance between incentivizing green practices and fiscal prudence is crucial.

MCA Consulting Insights

MCA Consulting offers valuable insights into navigating the complexities of carbon credit taxation in India. Their expertise in tax matters ensures comprehensive understanding and strategic planning for organizations engaging in carbon credit transactions.

[blockchainxtech]

Web3 Revolutionizing Climate Action: Sustainable Solutions in Carbon Markets

One of the biggest problems facing humanity in the twenty-first century is climate change.The science is clear: if we want to avoid the worst consequences of global warming, we must dramatically reduce our greenhouse gas emissions. However, this is not easy to achieve, as it involves transforming the way we produce and consume energy, as well as the way we do business.

Fortunately, technology can be a great ally in this fight. In particular, Web3 technology, which is based on the use of decentralized networks, open protocols and cryptocurrencies, is revolutionizing sustainable energy markets. Web3 offers innovative solutions to manage and trade carbon credits, incentivize the reduction of emissions and offset the carbon footprint.

The goal of this article is to explore how Web3 and blockchain technology are transforming sustainability, focusing on carbon trading and efficient emissions management. We will also look at some practical examples of how Web3 is driving the growth of voluntary carbon markets and facilitating peer-to-peer energy trading.

Web3 and the Sustainable Revolution

Web3 is a term used to describe the evolution of the web towards a more open, participatory and democratic platform. Web3 is based on the use of technologies such as blockchain, smart contracts, tokens and oracles, which allow the creation of decentralized applications (DApps) that work without intermediaries or central authorities.

These technologies have allowed us to develop sustainable solutions in areas such as renewable energy and carbon capture. Projects like Power Ledger allow users to generate and sell solar energy through a blockchain platform; o CarbonX uses tokens to reward consumers for reducing their carbon footprint.

However, these solutions are not without challenges. One of them is the volatility in the value of Web3-related assets, such as cryptocurrencies or tokens. These assets can experience strong fluctuations due to factors such as supply and demand, speculation or regulations. For example, there has recently been a 70% drop in the value of some Web3 assets, which has negatively affected their adoption and credibility.

However, it is important not to lose sight of the technological advances underlying these solutions, as they are what can really make a difference in the transition to a low-carbon economy. Web3 development company offers a unique opportunity to create a more transparent, efficient and inclusive system for managing and trading carbon credits.

Blockchain and Carbon Credit Management

Carbon credits are units that represent one ton of carbon dioxide (CO2) equivalent that has been avoided or removed from the atmosphere. Carbon credits can be generated through projects that reduce or capture greenhouse gas emissions, such as planting trees, installing solar panels, or capturing methane.

Blockchain technology is being used to address climate change, managing carbon credits and reducing emissions. Blockchain is a technology that allows the creation of distributed and immutable records of transactions, without the need for intermediaries or central authorities. Blockchain offers advantages such as transparency, traceability, security and efficiency.

Blockchain simplifies the integration of renewable energy, enabling efficient carbon trading and a financial incentive for emissions reduction. Projects like WePower use blockchain to connect producers and consumers of green energy, facilitating access to carbon credits; o Nori uses blockchain to create a carbon removal market, rewarding farmers for sequestering CO2 in the soil.

Web3 and Carbon Offsetting

Carbon offsetting is a practice of offsetting greenhouse gas emissions that cannot be avoided or reduced by investing in projects that eliminate or prevent them. Carbon offsetting can be done through mechanisms such as the Clean Development Mechanism (CDM) or the Gold Standard.

Web3 revolutionizes the carbon offset market, providing transparency and reducing risks. Web3 allows you to create decentralized carbon registries, which verify and validate the carbon credits generated by offset projects. These records can be audited by anyone, increasing trust and credibility.

Additionally, Web3 makes it easier for both suppliers and buyers to access and participate in the carbon offset market. Web3 allows you to create platforms that directly connect the actors involved, without intermediaries or commissions. Web3 also allows you to create tokens that represent carbon credits, making them easier to trade and use.

A practical example of how Web3 is applying carbon management is the partnership between the Energy Web Foundation and Vodafone. Energy Web Foundation is a non-profit organization that develops blockchain solutions for the energy sector. Vodafone is a multinational telecommunications company. Together they have created a blockchain platform that allows users to verify and certify their emissions and compensation actions

Peer-to-Peer Energy Trading on Blockchain

Peer-to-peer energy trading is a form of trading in which users can buy and sell energy directly with each other, without intermediaries or centralized networks. Peer-to-peer energy trading can improve the efficiency, resilience and sustainability of the energy system.

Blockchain is taking peer-to-peer energy trading to a new level, enabling direct and decentralized trading. Blockchain allows the creation of intelligent networks (smart grids) that connect users with renewable energy sources, such as solar panels or wind turbines. These smart grids can adjust energy supply and demand in real time, optimizing usage and price.

In addition, blockchain allows the creation of tokenization solutions and smart contracts, which facilitate energy trading and payment. Tokenization consists of converting an asset or right into a digital token that can be exchanged on a blockchain platform. Smart contracts are self-executing agreements that are activated when certain conditions are met.

An example of how blockchain is innovating tokenization and smart contracts is Veridium and its partnership with IBM. Veridium is a company that offers solutions to measure, manage and offset carbon emissions. IBM is a leading technology and innovation company. Together they have created a blockchain platform that uses tokens to represent carbon credits and smart contracts to automate their buying and selling.

Beyond Cryptocurrencies: Potential of Web3

Web3 and blockchain are much more than cryptocurrencies. These technologies have the potential to transform various economic sectors, such as health, education, transportation or agriculture. Web3 offers solutions to improve the quality, accessibility and efficiency of services, reduce costs and risks, and promote inclusion and equity.

It is important to comprehensively understand the transformative potential of these technologies for the business landscape. Web3 and blockchain can change the rules of the game, creating new business opportunities, but also new challenges and risks. Therefore, it is essential to be prepared and adapt to this transformation

Digitalization and Growth in the Voluntary Carbon Market

Digitization is a process that consists of converting analog information into digital format. Digitization can improve security and transparency in the carbon market by creating immutable and verifiable records of carbon credit transactions.

Digitalization can also drive the growth of voluntary carbon markets by supporting genuine sustainability initiatives. Voluntary carbon markets are those in which actors decide to offset their emissions on their own initiative, without being bound by international standards or agreements.

Digitalization can make it easier for both suppliers and buyers to participate in voluntary carbon markets. Digitalisation can simplify the carbon credit verification and certification process, reduce costs and time, and increase trust and credibility.

Final conclusion

In this journey through the Web3 revolution and blockchain technology in the field of sustainability, a promising horizon is evident. Beyond cryptocurrencies, these emerging technologies are positioned as key catalysts in the fight against climate change and the creation of a green economy. The capacity for decentralization, transparency and efficiency that they offer becomes a beacon of hope.

Despite challenges, such as asset volatility, it is highlighted that these are temporary obstacles on the path to a more sustainable future. The responsible adoption of these innovations is presented as an ethical imperative, and its impact goes beyond the financial sphere, opening doors to transformation in diverse sectors such as health, education and agriculture.

At this crucial point in our history, collaboration between sectors is revealed as a determining factor. Active citizen participation stands as an essential driver for the success of these initiatives. Beyond technological effectiveness, it is crucial to remember that we are shaping a future in which ethics and social responsibility must be the pillars.

Looking forward, the vision encompasses a landscape where technology, environmental awareness and collaboration build a strong fabric for a more equitable and sustainable society. The mass adoption of Web3 and blockchain not only represents a technological revolution, but a revolution in the way we conceive and preserve our shared home: planet Earth.

This is the beginning of a new era, where innovation and consciousness intertwine to build a greener and more promising tomorrow. The invitation is clear: let us adopt these technologies wisely, forge strong alliances and together build a future where sustainability is more than a goal, it is the very basis of our progress.

[generousexpertparadise-blog1]

Clean development mechanism by ONGC India

ONGC inks MoU with NTPC for Enhanced Oil recoveryOil and Natural Gas Corporation (ONGC) signed a landmark MoU with NTPC for CO2 based Enhanced Oil Recovery in Gandhar field by injecting CO2 captured from NTPC’s Jhanor Thermal power plant today.Emphasizing the need for sustained campaign to reduce carbon footprints, Mr. Shashi Shanker, CMD-ONGC said, “In line with the vision of Hon’ble Prime Minister on Climate change, an approach focusing on sustainability should be embedded in all ONGC operations with an aim to maximize carbon neutrality” Speaking on the occasion, Mr. A.K. Dwivedi, Director (Exploration)-ONGC said, “This is one of the major sustainable initiatives taken up by ONGC, aiming to support India’s low carbon development goal. ONGC plans to utilize CO2 as potential agent for EOR and in the process achieve Geological sequestration of atmospheric CO2, leading to significant emission curtailment. ”The collaboration under this MoU focusses on development of CO2 Capture plant at mutually identified site with appropriate commercially-available Carbon capture technology, development of viable business model, inclusion of this project as part of national emission curtailment measure aimed at supporting country’s low-carbon development goals and obtaining government and international grants.A similar MoU was recently signed with ITPCL (IL&FS Tamil Nadu Power Company Limited) for utilization of captured CO2 from its thermal power plant for CCUS operations.Feasibility study have been carried out in Gandhar field, Gujarat and Kamalapuram field, Tamil Nadu for setting up CCUS. This has the potential to enhance oil recovery in range of 8-15% over water flood and to sequester ~7.5 MMt of CO2 in 20 years timeframe.ONGC has already taken several significant measures to reduce carbon footprints, with fifteen registered Clean Development Mechanism (CDM) projects registered under United Nations Framework Convention on Climate Change (UNFCCC) with that yield (potential) Certified Emission Reductions (CER) approx. 2.1 million yearly. ONGC Tripura Power Corporation Limited (OTPC), is one of the biggest CDM projects in the world, fetching 1.6 million carbon credits per year to the Maharatna.Through this, ONGC plans to develop an emission mitigation tool to combat climate change and simultaneously increase production from mature fields to fulfill Hon’ble Prime Minister’s vision of 10% oil import reduction by 2022 and keep up India’s commitment to COP 21 for reducing reduce emissions to limit global temperature rise below 2 Celsius.

click here to read more about the clean development mechanism. 

[rjzimmerman]

Excerpt from this ProPublica story:

If the world were graded on the historic reliability of carbon offsets, the result would be a solid F.

The largest program, the Clean Development Mechanism, came out of the 1997 Kyoto Protocol, when dozens of nations made a pact to cut greenhouse gases. European leaders wanted to force industry to emit less. Americans wanted flexibility. Developing nations like Brazil wanted money to deal with climate change. One approach they could agree to was carbon offsets.

The idea worked marvelously on paper. If a power plant in Canada needed to shave 10% off of its emissions but didn’t want to pay for technology upgrades, it could buy offsets from projects in the developing world. Investors planning to build a coal plant in India could instead decide to build a solar plant, using the money from the anticipated sale of carbon credits to cover the higher costs of developing solar power. The gap in emissions between the hypothetical coal plant and the actual solar farm would be converted to offsets. (Each credit is equal to the global warming caused by a metric ton of CO₂.)

The program subsidized thousands of projects, including hydropower, wind and, infamously, coal plants that claimed credits for being more efficient than they would have been. CDM became mired in technical and human rights scandals, and the European Union stopped accepting most credits. A 2016 report found that 85% of offsets had a “low likelihood” of creating real impacts.

Another global program, Joint Implementation, has a similar track record. A 2015 paperfound that 75% of the credits issued were unlikely to represent real reductions, and that if countries had cut pollution on-site instead of relying on offsets, global CO₂ emissions would have been 600 million tons lower.

Almost all of the projects failed to meet a standard required for any true carbon offset called additionality. What it means is that the environmental gains are only real if the solar farms or windmills would never have been built without the credits.The programs largely avoided credits for forest preservation, in which a polluter pays a landowner to reduce deforestation. The science was too complicated. How are we to know which trees were saved because of such projects, and which would have survived without them?

[allthebrazilianpolitics]

Brazil fights attempt to cancel its old carbon credits

Credits from an old regime could undermine the Paris climate agreement, but negotiations ended in stalemate after the biggest holders dug in their heels

Brazil dug in its heels to oppose rules to safeguard global carbon markets from double counting and old credits, as UN climate negotiations wrapped up yesterday in San Jose, Costa Rica.

Delegates failed to overcome several major sticking points on setting up a new global market mechanism for carbon offsets.

Brazil, India and China wants to trade its surfeit of old credits from the previous regime, known as the Clean Development Mechanism (CDM), on the new market established by the Paris Agreement.

Observers warn a weak outcome on carbon markets at the Cop25 climate summit in Chile this December has the potential to undermine the entire Paris accord.

Continue reading.

[fxmarkettech]

Why the Falling Price of Carbon Credits Might Be a Good Thing

A surplus of carbon offsets has caused a dip in certified emission reduction (CER) prices, reported Reuters last week. The news agency further predicts that carbon credits are yet to hit rock bottom. On Oct. 14, CERs reached a price of €7.13 per unit - an all-time low. Their value slightly recovered later in the day, climbing to €7.28 per unit. CERs are carbon credits issued under the Clean Development Mechanism (CDM) - one of three flexibility mechanisms stipulated in the Kyoto protocol by the United Nations Framework Convention on Climate Change (UNFCCC). CDM allows industrialised countries to achieve their emission reductions by investing in offsets generated by projects in developing countries. The CDM Executive Board then evaluates the carbon reducing capacity of these offsets and issues carbon credits. In the current sluggish economic conditions, the market has seen a record number of issued certified carbon credits, explained Reuters. So far this year, 254 million CERs have been certified. In comparison, the number of CERs certified in 2010 was 132 million and in 2009-- 123 million. But are low carbon prices so bad after all? Not quite, if you ask Tim Worstall, fellow at the UK Adam Smith Institute. The dropping price of carbon credits, explained Worstall, means the system is, indeed, working, which is "excellent news." In an article for Forbes magazine, he writes: "A high price would show that it is difficult to reduce : people are willing to pay the high price for the permit rather than stop emitting. Similarly, a low price tells us that people are finding it easy to reduce emissions." But beyond the environmental functionality of emission units, their lower costs might even bring some investment benefits. The timing is, perhaps, ideal for investors to forward-buy carbon credits, considering that in 2013 the EU ETS will be entering its third phase. According to the Department of Energy and Climate Change, one of the main adjustments that will occur post 2013 is that allocation of emission certificates won't be done via allowances, but via auctioning. This means parties, which fall under the compliance program, will have to bid for CERs. "At least 50 per cent of allowances will be auctioned from 2013, compared to around 3 per cent in Phase II. This will improve the environmental effectiveness and economic efficiency of the EU ETS. In the UK, there will be 100 per cent auctioning to the power sector. This will also be the case across most of the EU," states the DECC website. In addition, access to project credits under the Kyoto Protocol from outside the EU will be limited to no more than 50 per cent of the reductions required in the EU ETS. These changes will affect CER prices in two ways: 1. Limiting the number of allowances and making polluters bid for their offsets after 2013 means that, in 2012, right before these changes take effect, more industries would want to take advantage of pre-auction costs and stock up on credits for future use. Higher demand in 2012 could subsequently lead to higher prices for CERs. 2. Limited access to carbon credits produced outside of the EU -- in, say, China-means the cost of CER production will go up. After all, developing offset projects in Europe typically costs more than outsourcing them to China. Higher production costs will lead to higher prices after 2013. Again, polluters would want to take advantage of pre-Phase III carbon credit prices, which can potentially drive up demand in 2012 and help carbon credit prices bounce back sooner rather than later. Carbon credit prices are, of course, influenced not only by the evolution of the EU ETS, but also by the overall state of the global economy. It would be unreasonable to look at them as commodity units, which exist in a vacuum. Therefore, we cannot exclude the possibility that the overall decline in commodity prices and the financial market crunch can adversely affect carbon trade. We also have to bear in mind that the Kyoto Protocol, the very agreement under which these units are defined and exist, is due to expire in 2012. The compliance carbon market will likely see some changes depending on which signatory countries re-commit to reducing carbon emissions and which, if any, pull away.

[vikram-blogs]

What are the direct tax implications of generating carbon credits in India? — Mca Consulting

The blog discusses the importance of environmental protection and how organizations contribute through initiatives such as carbon credits. Carbon credits, traded internationally, represent emission reduction units and are a result of projects under the Clean Development Mechanism (CDM). The article delves into the taxability of carbon credits in India, highlighting the introduction of section 115BBG by the Finance Act, 2017. This specific provision imposes a 10% tax on income from the transfer of carbon credits and disallows deductions for expenditures. The article notes potential challenges to the taxability under this section and cites recent judicial decisions on the matter. It concludes by mentioning a pending Supreme Court case that could significantly impact the taxation of carbon credits in India.

Explore in detail- https://mcaconsulting.co.in/blogs/what-are-the-direct-tax-implications-of-generating-carbon-credits-in-india/

[climatechangesblog]

Countries can trade credits, which each represent one tonne of CO2, with each other in a global marketplace. Theoretically, this exchange should balance out and prevent an overall increase in emissions – provided all emissions from human activity are covered by the scheme.

Establishing a global carbon market, however, has proven to be an enormous challenge. For almost 30 years, countries have tried, and largely failed, to draw up robust rules.

The first global scheme dates back to the UN's Kyoto Protocol on climate change, which was adopted in 1997. Known as the Clean Development Mechanism (CDM), this carbon market came into operation in 2006. Under the CDM, richer countries could reduce their emissions by paying for the development of carbon-lowering projects in poorer nations, and counting these reductions as part of their own targets. Source bbc.com

[globalforest]

Carbon As A Valuable Asset

Forest carbon is considered a forest product that can be a viable alternative source of income for forest owners. The memo describes today's forest carbon markets and the potential opportunities it presents to some forests.

To understand the Forest carbon market, you need to know how CO2 is measured and traded. The standardized unit for carbon is "metric tons of carbon dioxide equivalent", often referred to as MtCO2e or "offset". CO2 is one of the most abundant greenhouse gases in the atmosphere and contributes to global warming. All other gases are compared to CO2 for simplicity. Thus, the CO2 equivalent has become the standard unit for describing various greenhouse gases. The US Environmental Protection Agency (EPA) defines this as the number of metric tons of CO2 emissions that have the same global warming potential as 1 metric ton of other greenhouse gases. Methane, for example, has 25 times the thermal potential of CO2. In other words, 1 ton of methane is equivalent to 25 tons of CO2. A key component of the carbon market is the ability of regulators, buyers, brokers, and sellers to have measurable, quantifiable, verifiable, and traceable commodities. Currently, forest Carbon sellers are large forest landowners who want to diversify their forest revenue streams.

Soils carbon is solid carbon stored in soils around the world. This includes both soil organic matter and inorganic carbon in the form of carbonate minerals. Carbonate minerals are the predominant form of soil carbon in desert climates. Soil organic carbon exists as soil organic matter. Soil carbon is a carbon sink in the global carbon cycle and plays a role in biogeochemistry, climate change mitigation, and global climate modeling. Organic carbon exists in association with a broader complex of organic matter, along with nitrogen, phosphorus, sulfur, potassium, and many other nutrients. Soils carbon enters the soil through photosynthesis. Molecules of carbon dioxide (CO2) in the air are captured by plants and converted into organic matter. Plants retain C and breathe out O2. 

Global Forest Resources Washington is a leading provider of emission trading and environmentally neutral services. Through trade and international partnerships, we help businesses around the world contribute to a green economy and a sustainable future. We are qualified and certified to trade all carbon asset classes, including Clean Development Mechanism (CDM), International Voluntary Reduced Emission Standards (VCS), Gold Standards, and International Renewable Energy Certification (IREC) developments. Development of the Natural Solutions Project (NBS). Our management division Global Forest Resources Washington specializes in trading and carbon asset management. The branch is actively involved in the development of carbon derivatives and credit trading in cooperation with major financial institutions. With a wealth of experience in the field, a team of expert attorneys, and strong financial support, we provide our clients with a high level of security and expert guidance they need to overcome the complexities of trading carbon assets.

Measurement and monitoring of terrestrial carbon pools, particularly those in forests, is important for three main reasons: the size of these pools, the flow rates of these pools, and the role of terrestrial carbon management in mitigating climate change. Forest Carbon Works is using Forest carbon markets to help smallholder farmers generate income through carbon sequestration in their forests. 

How do carbon credits work and why do emission reductions have market value?

The combustion of fossil fuels for transportation, manufacturing, and industrial processes releases carbon dioxide into the atmosphere. Organizations with a legal obligation to limit or offset carbon emissions, and organizations that voluntarily offset emissions, can purchase carbon credits from forest growth. As trees grow, they perform photosynthesis to convert carbon dioxide from the air into organic food. This process can be measured and assigned values ​​in the form of carbon credits. Organizations can then purchase carbon credits to meet their emission reduction goals. One carbon credit equals one ton (metric ton) of carbon dioxide removed from the atmosphere. Carbon sequestration is the process of seizing and accumulating carbon dioxide in the atmosphere. This is one way to reduce the amount of carbon dioxide in the atmosphere to reduce global climate change.

We Global Forest Resources provide services for Forest Carbon asset management by -

Measuring and monitoring forest carbon pools

Marketing forest carbon

Marketing soils carbon

So, just approach us today for carbon sequestration in your land for a better ecosystem and support for nature.

[agileadvisorsmea]

The UAE's Climate Change Commitment

Emissions management

Under the umbrella of Clean Development Mechanism (CDM) initiatives, the United Arab Emirates has implemented 14 projects aimed at lowering greenhouse gas (GHG) emissions. The total yearly carbon dioxide equivalent reduction from these initiatives is anticipated to be around one million tonnes (CO2Eq). We as Carbon footprint consultant In Dubai are helping dubai based pvt sector companies to estimate and reduce emissions.

UAE is at the forefront of the clean energy revolution, with investments in renewable energy and hosting the International Renewable Energy Agency (IRENA). As a result, the UAE became one of the first major oil-producing countries to ratify the Kyoto Protocol to the UN Convention on Climate Change in 2005, we as a Carbon footprint consultant In Dubai believe this to be a great achievement. However, the UAE is a non-Annex one country under the United Nations Framework Convention on Climate Change (UNFCC), which means it is not required to set targets abd reduce its emissions similar to that of EU. We as Carbon footprint consultant In Dubai are proud that the UAE, on the other hand, has chosen to take steps to reduce its carbon emissions, such as monitoring and tracking greenhouse gas emissions and evaluating regulations related to them.

Furthermore, the UAE is dedicated to increasing the economic role of low-carbon technology and investing in renewable energy and nuclear power, it confirmed its intention to generate 24 per cent of its electricity from clean energy sources by 2021 during the COP21 United Nations Climate Change Conference in December 2015. As a Carbon footprint consultant In Dubai we consider it an important step towards decarbonization.

The UAE and the US held their first annual bilateral energy dialogue in 2014 to promote new and current efforts to strengthen bilateral cooperation and enhance and secure the global energy market, in addition, the UAE held the Abu Dhabi Ascent in May 2014 to bring together individuals from the government, the commercial sector, and civil society to generate momentum for severe climate change conversation and action. As a Carbon footprint consultant In UAE we witnessed that the UAE has lowered its per capita carbon emissions and monitors the release of gases that cause the greenhouse effect to reduce its carbon footprint. Carbon dioxide (CO2) emissions per capita have dropped due to improved technology and a shift to more natural gas in power plants and the upcoming solar and nuclear power plants. As a Carbon footprint consultant In UAE it was heartening to see that the United Arab Emirates emitted 32.6 tonnes of CO2 per person per year in 1990. The figure fell to 21.9 tonnes per person per year in 2010.

The UAE's Ministry of Climate Change and Environment has implemented technology of soilless agriculture in various agricultural projects to combat the catastrophic effects of climate change on natural environmental ecosystems and water surfaces, this technology aids in the regulation of the indoor household climate as well as the environment around the roots. We as Carbon footprint consultant In UAE believe this technique improves water consumption efficiency, fertilizer use, soil problem solutions, and soil type.

The UAE is also committed to lowering emissions from flaring, which is the practice of burning off waste gas or oil during the testing or production of petroleum, zero-flaring is a strategic goal for the Abu Dhabi National Oil Company (ADNOC), as a result, ADNOC decreased gas flaring by up to 78 per cent between 1995 and 2010.We as Carbon footprint consultant In UAE believe that UAE is on right path towards low carbon transition.

[generousexpertparadise-blog1]

"Company commenced its Clean Development Mechanism (CDM) journey in 2006. Currently, it has 15 registered CDM projects with the United Nations Framework Convention on Climate Change (UNFCCC)

[allthebrazilianpolitics]

Brazil and EU face off over future of carbon trading

The next generation of carbon markets could make or break the Paris Agreement, say negotiators as talks resume in Bonn

This year’s UN climate talks could make or break the Paris Agreement, negotiators say, as they get down to the business of regulating carbon trading.

Emerging economies, notably Brazil, are at loggerheads with the EU and vulnerable countries over the role for old UN carbon market schemes in the Paris regime.

At the last major summit in Katowice, Poland, it was the one section of the Paris rulebook governments did not reach consensus on. Interim talks on the design of a new system under “Article 6” resumed in Bonn this week, at a session running until Thursday 27 June.

A key issue is the future for the Clean Development Mechanism, an offset scheme developed under the 1997 Kyoto Protocol. It allowed rich countries – back then the only group committed to emission reductions – to meet some of their targets by investing in green projects in developing countries. For every tonne of avoided greenhouse gas, a carbon credit (CER) was issued.

Brazil is the most vocal advocate for modelling the new system on the CDM and allowing CERs generated through the scheme – in which Brazil is rich – to continue to circulate.

Opponents, including the EU, warn that transferring the CDM wholesale would flood the market with credits of little environmental value and have called for the creation of a new scheme from scratch. In a post-Paris world where 197 countries now have climate targets, the concern is that CERs from old projects could be both sold to foreign investors and used towards domestic targets – so-called double counting.

Continue reading.

[vikram-blogs]

What are the direct tax implications of generating carbon credits in India? - Mca Consulting

Environment protection is the need of the hour. Every organization of repute is contributing to environment protection in its own way. For instance, the energy saved can be traded (internationally) with another entity which is likely to consume more energy. This energy is popularly known as ‘Carbon Credits’ or Certified Emission Reductions (CER). Like coal, diamonds, stocks and bonds, carbon credits are an internationally recognized commodity. It has an established international market, exchanges and involves high voluminous transactions. The exchange of carbon credits, though intended for protecting the global environment, is not a charitable activity alone. It is, perhaps, a combination of good intent combined with executing profitable projects. Quite naturally, Governments of all countries propose to tax carbon credits in their respective jurisdictions. With this background, let’s proceed to understand the taxability of carbon credits in India.

What are carbon credits?

The necessity of reducing carbon emissions was first recognized at the Kyoto Protocol of the United Nations Framework on Climate Change signed in 1997 wherein the member countries, including India, committed to limit and reduce the greenhouse gas emissions. The Kyoto Protocol provides for trading of Carbon Credits, i.e., emission reduction units through Clean Development Mechanism (CDM).

Know more - https://mcaconsulting.co.in/blogs/what-are-the-direct-tax-implications-of-generating-carbon-credits-in-india/

[mossearth7]

Innovative Carbon Credit Toke System ToConserve Amazon Rainforests

Global warming and increase carbon footprint is a growing problem causing imbalanced climatic conditions and erratic weather patterns. Deforestation and industrialization has shoot up the carbon emission in the environment. However, innovation and technology can help in reducing the carbon footprint. Great conversation requires collective preservation and funding for the projects.

Climate change has caused a complete imbalance in the eco-system. Deforestation of Amazon forest and other large eco-system creates a global menace. It is directly or indirectly related to increased temperature or heat, melting of glaciers, snowfall in the deserts, and increase level of pollution in the environment.

Compensate for Carbon Footprint with Innovative Carbon Credits

As a part of the planet, it is the collective responsibility to preserve the planet and conserve the thriving ecosystem. However, such a large scale conservation project requires significant resources and money. The carbon credit token is one of the kind systems which helps with sustainable initiatives and provide fund to provide jobs.

The innovative carbon credit blockchain technology helps in reducing carbon offset. It is one of its kind revolutionary green digital asset which helps in conservation of the natural resources. It helps in effectively combating the climate and weather change. The digital token based project helps in protecting Amazon forests and its ecosystem.

Preserving the Amazon Rainforest with Digitalized Tokens

All the money used in purchase of the digital tokens goes into the welfare and protection of the Amazon rainforests. Amazon is well known as the lungs of the planet. It is known to be home to millions of species and absorbs carbon and emits oxygen for sustainable eco-system.

This is a new initiative, and the carbon credits use blockchain technology for global environment conservation. The system is safe, secured, and fully transparent. All the transactions made for purchase of carbon credits are trackable and transparent without any sort of manipulation.

Become a Part of the Growing Environment Change Warriors

·         This technology allows anyone across the globe to become crusaders for protecting the planet and contribute to the conservation of Amazon Rainforests.

·         The Clean development mechanism (CDM)through blockchain technology ensures better transparency and security of all the transaction.

·         This allows you to become a part of the global conservation projects. The issue of the MCO2 tokens has helped in preserving around 1 million hectares of the forest.

·         The issue of the carbon credits and tokens has become a powerful voluntary market for reducing carbon release. It gives an individual the direct power to save the climate.

The idea behind this concept is to build programs and projects that are funded globally. It allows companies and individual to create smart applications which helps in combating the CO2 emission world. It is not only responsibility of Brazilians but collective responsibility of the entire world population.

This system significantly helps in compensating for the carbon footprint. The block chain technology based carbon credit token is a trusted transaction without any manipulation and offers complete transparency. It helps in compensation of millions of tonnes of CO2, preserve trees and fund projects for Amazon Rainforest Conservation.