RWE appeals for carbon trading scheme
Copenhagen, Denmark, hosts a climate summit that aims to find a replacement environmental regime to the expiring Kyoto Protocol.
The Clean Development Mechanism and Joint Implementation provisions of the Kyoto Protocol allow industrialized nations to invest in alternative and green energy projects in developing countries or other less expensive options to offset their emissions.
RWE, the German energy giant, said it was important that both mechanisms be incorporated into any international environmental treaty in order to secure long-term investment planning in climate protection projects.
"It is essential CDM and JI projects are part of all international climate protection schemes," said Juergen Grossmann, chief executive officer of RWE. "They ensure climate protection is carried out all over the world and not limited to industrial countries."
Grossmann said his company was committed to invest $6.5 billion in renewable energy options and modernization programs at its power plants and energy grids. It added it was involved in more than 100 CDM projects across the globe.
"We appeal to decision-makers at Copenhagen to ensure CDM and JI are tied into a future climate protection agreement," he urged.
Related News
PG&E Rates Set to Stabilize in 2025
CALIFORNIA - Pacific Gas and Electric (PG&E) is expected to implement a series of rate hikes that will significantly impact California residents. These increases, while substantial, are anticipated to be followed by a period of stabilization in 2025, offering a sense of relief to customers facing rising costs.
PG&E, one of the largest utility providers in the state, announced that its 2024 rate hikes are part of efforts to address increasing operational costs, including those related to wildfire safety, infrastructure upgrades, and regulatory requirements. As California continues to face climate-related challenges like wildfires, utilities like PG&E are being forced to…
