ˆ8Œ [  Carbon Management ProjectCarbon Management Project „ Carbon History A歷i  量‰ 5.22009  7 Z „‘ KSH6p 7A 量諾,Carbon Reduction Commitment , CRCdk2010年Dfk ‚2020年 量26 d2050年量 60 – 80 A ZQ53 ŒAAU Assigned Amount Unit  60 comments received„ Independent Steering Committee reviewed comments, agreed policy components.„ Drafted by VCS team and LRQA into ISO 14064 compatible framework„ Launch in November 2007, new independent bodyVCS - AIMS„ The basic standard for voluntary emission reductions –a tonne is a tonne.„ Give investors/buyers confidence increased investment in offset projects„ can increase the uptake of and flow of funds to low carbon solutions.„ Innovation new approaches that can feed into compliance schemes„ Provide credibility to the voluntary market consumer-focused offsets and offset products can raise awareness and accelerate public action.„ Reduced transaction costsThe VCS will help expansion of the voluntary carbon offset market and drive major emissions reductions.The fundamentals of the VCS Open and transparent Relays and uses exiting and proven expertise such as– Accreditation system using IAF accreditation bodies– Use of existing ISO standards iso 14064 „ Iron „ Mineral processing industries such as cement manufacture; „ Pulp and paper processing industries„ Petrochemical industries„ SemiconductorETS cntd.„ In 2007 Global Carbon Credit Trading doubled to US 70 Billion„ Clean Development Projects ‘CDM’ Projects accounted for 551 MtCO2e „ 68 Developing countries participate in CDM projects„ CDM / Renewable Energy Projects account for 66 of Investments„ If USA join ETS Scheme market would be worth 700 billion„ ETS will extend its scope and coverage quickly over the next fewyears„ High of trades are ‘voluntary’ NOT mandatory via ethical responsible companiesUK Climate Change Bill Announced late 2006 – post-Stern Review Draft Bill published March 2007„ all UK administrations Re-affirming UK Government’s commitment Certainty for business planning Maximising UK’s leverage internationallyWhat Does the Bill Do 60 reduction in carbon emissions by 2050 [Under review] 26 reduction by 2020. Upper limit of 32 dropped„ 5 year Carbon Budgets„ Establishes a Committee on Climate Change with UK remit to advise Governments„ Provides powers to introduce new emissions trading schemes„ Improve monitoring and reporting to UK Parliament.