Protocols for corporate greenhouse gas accounting that are based on the ISO 14064 standards, such as the WBCSD/WRI GHG Protocol, use the term "scope" to distinguish between different greenhouse gas emissions sources. There are three categories; Scope 1, Scope 2, and Scope 3. For most registry’s or reporting agencies Scopes 1 and 2 are considered mandatory while Scope 3 is considered optional.
Carbon may become the world's largest commodity market, according to recent investigations. The Financial Times reported late last week reported that the carbon market could "outstrip the conventional commodities markets" and other estimates of more than $3 trillion in 2020 have been cast, by Point Carbon for example, dependent on US participation. Bart Chilton, commissioner of the Commodities Futures Trading Commission has estimated that
“even with conservative assumptions, this could be a $2 trillion futures market in relatively short order.”
In the pacific region countries have joined forces to tackle land-clearing in an attempt to reduce regional emission levels. One of the latest carbon partnerships, agreed to in April this year, is between Papua New Guinea and Australia. The agreement has been criticised from its inception and with the release of a recent forest analysis report covering PNG, the potential usefulness of the program going forward is further questioned.
England's Climate Change Minister Joan Ruddock unveiled the UK government's plans for the next two years for tackling climate change, stressing a local approach. She spoke at a conference about preparing for climate change organized by the Guardian newspaper. The UK government is one to watch because it has made impressive progress toward reducing greenhouse gas emissions, and is on track to achieve almost double its Kyoto target.
A recent annual survey into the carbon reduction efforts by suppliers has revealed that business leaders dread the potential impact of emissions legislation on their activities. The survey, carried out by the Carbon Disclosure Project (CDP), a transatlantic not for profit organization, covered responses of 144 supply companies to multinational corporations. Only 26% of the suppliers have actual plans in place to achieve greenhouse gas reductions. But more than double that number (58%) was tracking their emissions. Around 33% of all the surveyed suppliers has a dedicated board member in place dealing with climate change issues.
The European car industry is going to be heavily impacted by regulations on pollution limitations and tensions are rising between German manufacturers on one side and the French and Italian car industry on the other. Reason? German cars are much heavier than those made by the French and the Italians and the Germans fear that they will be penalized by new pollution regulations.
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