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With enthusiasm for carbon dioxide emissions offsetting markets lusing lustre in United and Europe, five US States and and Canadian provinces are moving forward with plans to establish a regional cap-and-trade market in 2012 for reducing greenhouse gas (GHG) emissions, according to Reuters report. Money on hand is now being diverted, instead, to traditional clean energy plays as market players are taking a pause, waiting for signs that greenhouse gas offset credit trading will either rebound or slowly fade into nothing, Climatewire said in an analysis.

Failure by governments to achieve a new, solid agreement on climate change at negotiations in Copenhagen last year added to the downward spiral. But far more damaging to the long-term viability of the market is a growing perception by the investment community that the U.S., Japanese, Australian and other governments are pulling away from adopting European-style cap-and-trade markets entirely. They appear to be switching instead to carbon tax schemes or other methods to bring greenhouse gas emissions under control, Climatewire added.EnergetixClimate's Dorion agrees that the CDM offset market is in a precarious state, but she is still confident that offsetting in one form or another will exist after 2020. Whether the system in place will be the CDM or not is an open question.

California, with the eighth-largest economy in the world and plans to cut emissions 30 percent by 2020, New Mexico, and the Canadian provinces of Ontario, British Columbia and Quebec will work together to establish a system that will be about four times larger than the U.S. cap-and-trade system in the Northeast — the Regional Greenhouse Gas Initiative, according to Reuters report.The Regional Greenhouse Gas Initiative is trading carbon at just above $2 per ton, while a 2008 analysis pegged the carbon price at $24 per ton in the western U.S. A revised projection is expected, according to the article.



Overseas, experts say the European Union's Emission Trading System (ETS) will keep offsets trading from the CDM alive for some time. Even though skepticism is growing that international negotiators will ever come up with a replacement to the Kyoto Protocol to cover markets for 2013 and beyond, E.U. regulators have already written into law a place for CERs up to 2020, and no one expects Brussels to revise that legislation.

Will corn ethanol boost GHG emissions?
A Purdue University study suggests the increased use of corn ethanol might boost the Earth's greenhouse gas emissions.Professor Thomas Hertel and his five co-authors said their new economic analysis of the effects of increasing use of corn-derived ethanol on greenhouse gas emissions confirms the corn-based biofuel is unlikely to reduce global production of carbon dioxide.

The study focused on how mandated increases in production of the biofuel in the United States will trigger land-use changes domestically and elsewhere. In response to increased demand for corn, the scientists said farmers convert additional land to crops. And that conversion can boost carbon dioxide emissions, the scientists said.

The investigators said their main conclusion is stark: The indirect, market-mediated effects on greenhouse gas emissions "are enough to cancel out the benefits the corn ethanol has on global warming." The study appears in the journal BioScience.

India to switch off lights on March 27, 2010- 8.30 pm to 9.30 pm
Chief Minister of Delhi, Sheila Dikshit and Abhishek Bachchan launched WWF's Earth Hour 2010 at a press conference organized at World Wide Fund for Nature (WWF) office in New Delhi. . Earth Hour is a WWF initiative where citizens around the globe show their support for action on climate change by turning off lights for one hour. This year the switch off is being observed on March 27, 2010, from 8.30 pm to 9.30 pm.

As a concerned individuals for the planet, Abhishek along with Smt Sheila Dikshit lit the 'candle of hope' encouraging citizens of India to 'switch on' their minds and showcase solidarity and commitment towards climate change and energy conservation by 'switching off' the lights for one hour.They were joined by Ravi Singh, CEO of WWF India. Earth Hour 2010 is expected to be a culmination of over one billion people around the globe, in more than 6000 cities and towns worldwide, turning off lights and showing support for action on climate change.

Sheila Dikshit said ''Delhi was the lead city for Earth Hour 2009 when India joined this global campaign. Several historical buildings, office complexes, RWAs, shopping centers and hotels switched off in support, resulting in close to 600 MW power saving in Delhi alone. I hope that Delhi along with other cities across the country will take Earth Hour to newer heights by generating larger savings and sending a strong message nationally and globally, stressing the need to shift to a sustainable and low carbon development path.''

Abhishek said "As responsible citizens of this planet, it is extremely crucial for us to address the colossal problem of climate change through ensuring responsible action and adopting a sustainable way of life. Earth Hour is one such platform and a people's campaign that goes beyond national, regional, economic and cultural differences. It is important that Earth Hour 2010 should not be viewed as just another cause. We need to make this a movement to demonstrate our support for action on climate change by showing the world that actions such as those taken up at the 'individual level' like adopting an energy saving attitude and being more efficient in the use of energy can play a significant role in curbing greenhouse gas emissions that are eventually responsible for global warming"

"It is a matter of pride for me that I am associated with this prestigious campaign. It's time that we take a collective pledge to 'switch on' our minds and take one simple step to 'switch off the lights' on March 27, 2010 from 8.30 pm to 9.30 pm". Abhishek added. 

Ravi Singh, Secretary General and CEO, WWF-India, said, "Earth Hour 2009 was the largest climate action in history. It was heartening to receive tremendous support for the campaign from all sections of the society all across India it symbolized the aspirations and willingness of our citizens to adopt a more sustainable lifestyle. We hope the campaign this year will cross greater boundaries and inspire several more millions of our citizens to take decisive and collective action towards protecting our environment."

India joined the Earth Hour campaign in 2009 by committing the support of two main cities, Delhi and Mumbai. Five million people in India alone switched off on that day. Fifty six Indian cities participated in the campaign. India saved 1000MW of power in that one hour with 600MW of energy saving in Delhi alone From the icons of history like Qutub Minar, Red Fort, and Humanyun's Tomb and Chatrapati Shivaji Terminus to the symbols of modern India- hotels, cinema complexes and shopping malls, all showcased commitment towards the cause and switched off the lights for that one hour.

disappear."

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