Tag Archives: financial
BluForest Inc.: Anticipates New Technology to Measure Carbon Emissions Will Expand the Carbon Offsets Trading Market
QUITO, ECUADOR–(Marketwired – Aug 5, 2013) – BluForest Inc. (OTCBB: BLUF ) (OTCQB: BLUF ) (“BluForest” or the “Company”), a development stage company that is a publically traded carbon offsets marketing and renewable energy company, is anticipating new technology. The technology named “Hestia” after the Greek goddess of the hearth and home will expand the carbon offsets trading market. Arizona State University scientists have developed new software that indicates it can accurately measure greenhouse gas emissions down to individual buildings and streets. The system, introduced in an article published October 9, 2012 in Environmental Science and Technology combines information from public databases with simulations and energy consumption models. The researchers believe it could help identify the most effective places to cut emissions. It is believed it could aid international efforts to verify reductions in carbon. Details of the new system are published in the journal and according to the scientists from Arizona State University this new measuring system Hestia would enable the entire Nation to have one method of measuring carbon dioxide and other greenhouse gases at national level. Dr Kevin Gurney, one of the leaders of the project states that “We can go to any city in the US and do the quantification and we know it will be utterly consistent from city to city and consistent from city all the way up to national level… You realise how large a source electricity production is. It tends to swamp the signal in cities. And things like traffic jams and slow downs in traffic, that’s what really hits you,” said Dr Gurney. The scientists behind the system state that Hestia can be extremely useful for cities, helping them to target where to make emissions cuts. Once those cuts have been made, the system can verify their effect. Verification is also a hugely contentious issue at international negotiations on a global climate treaty. About BluForest Inc . BluForest Inc. is a development stage company that is a publically traded carbon offsets marketing and renewable energy company. BLUF is executing its strategy to become a leading marketer of carbon offsets in the voluntary markets under the UN principle of Reducing Emissions from Deforestation and forest Degradation (REDD+). The BluForest website provides further information about the company which prospective investors are encouraged to visit. Safe Harbor Act Notice: Statements contained herein that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the company and its management. Such statements reflect management’s current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the company’s ability to obtain additional financing and the demand for the company’s products. Any investment in the company would be extremely speculative and involve a high degree of risk and should not be pursued unless the investor could afford to lose their entire investment. Before investing, please review this filing, all past public filings with the SEC, all current Pinksheets.com filings and consult a registered broker dealer or contact the financial industry regulatory authority (“FINRA”) for more information regarding locating a qualified party to assist in making an investment decision. The company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the company’s expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the company’s success are more fully disclosed in the company’s most recent public filings with the U.S. Securities and Exchange Commission. Forward-looking statements are typically identified by the use of terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “predict,” “project,” “should,” “will,” and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Contact Information On behalf of the Board of BluForest Inc. Contact Us Company phone number: 1-855-509-5508 info@bluforest.com www.bluforest.com Continue reading
Carbon Trading At Increased Risk Of Criminal Exploitation: Interpol
Created on August 5, 2013 at 08:39 Carbon trading at increased risk of criminal exploitation: Interpol Tribune Desk Business The Interpol Guide to Carbon Trading Crime examines the areas within the industry which have the potential to be manipulated by criminals The intangible nature of the global carbon trading markets puts them at risk for exploitation by criminal networks, according to a new law enforcement guide produced by Interpol. The Interpol Guide to Carbon Trading Crime examines the areas within the industry which have the potential to be manipulated by criminals, through securities fraud, insider trading, embezzlement, money laundering and cybercrime. It also assesses the current vulnerabilities of the carbon market and provides information to support national authorities in establishing adequate policing measures, according to an Interpol press release. Carbon trading is the world’s fastest growing commodities market, with its current value estimated by the World Bank at around USD 176 billion. Differing from traditional markets in that there are no physical commodities, only “credits” for offsetting the output of carbon dioxide, it is this unquantifiable market combined with the large amounts of money invested and a lack of oversight which make it vulnerable to criminal activity. “It is imperative that the carbon trading markets remain secure from fraud, not just to protect financial investment, but also because the global environment depends upon it,” said Andrew Lauterback, Senior Criminal Enforcement Counsel at the US Environmental Protection Agency and Chair of the Interpol Environmental Crime Committee . “The Interpol Guide to Carbon Trading Crime is an important resource for all organizations and agencies committed to protecting our environment and developing a cohesive global response to this crime,” concluded Lauterback. An initiative of the Interpol Pollution Crime Working Group, the Interpol carbon trading guide was produced with contributions from partners including Environment Canada, the Norwegian Agency for Development Cooperation, the Netherlands Government and the US Environmental Protection Agency. The Pollution Crime Working Group will hold its 18th meeting during the Interpol Environmental Compliance and Enforcement Events in Nairobi, Kenya from 4 to 8 November 2013. The guide includes several case studies from around the world where greenhouse gas accounting firms, national authorities operating in under-regulated jurisdictions, and individuals or companies claiming to offset emissions in return for investment have cut corners, falsified information or received bribes. “Crimes that harm our environment have a wider impact on the health and safety of society as a whole, and therefore must be investigated and the perpetrators punished,” said Interpol Secretary General Ronald K Noble. “Interpol will continue to fight the criminal networks which endanger our precious environmental resources and use their ill-gotten proceeds to fund other criminal activities,” concluded the Interpol chief. With eight carbon credit trading companies operating on the European Union Emission Trading Scheme recently shut down for malpractice, the Interpol guide seeks to generate an international law enforcement response to these crimes. “It is sad to see criminals using fraud and other crimes to make profit out of a commodity that was created to protect the environment. It is not just the financial harm it causes investors, but this criminal activity risks seriously undermining the environmental integrity of the carbon markets globally,” said David Higgins, Manager of Interpol’s Environmental Crime Programme. “Interpol is supporting governments which are in the process of establishing or regulating the carbon markets to put an end to these types of crimes,” he added. Interpol also assists law enforcement agencies in policing the carbon market across borders and jurisdictions, in particular by identifying inconsistent regulations between countries and other legal loopholes which can be exploited by criminals. Continue reading
Carbon Capture and Storage: Is There a Future?
And is it all about the money? M.J. Huijbers LLM EHS Consultant Enhesa Carbon dioxide emission reduction is moving to the forefront of priorities in many jurisdictions to combat climate change and maintain environmental stability. In the European Union, the major goal is to reduce greenhouse gas emissions by 80-95% compared to the 1990 levels in all 28 Member States by 2050. In the European Commission’s view, it is not enough that industries reduce their greenhouse gas (including carbon) emissions to achieve this aim. The Commission is stressing that carbon dioxide capture and storage (CCS) should also be used as a mechanism. What is CCS? CCS is a process that allows carbon dioxide from large point source installations to be captured, compressed and injected into and stored underground in geological formations to prevent it from being released into the atmosphere. Currently, CCS is not actively taking place in the European Union. Many reasons like social acceptability, cost and infrastructural needs that are not yet in place cause overall scepticism. Therefore, there is a concern for the future for carbon capture and storage in Europe. The following will discuss the issues around CCS and whether it is an appropriate way to reduce greenhouse gas emissions within Europe. Problems that CCS is facing Finance Cost is the initial problem. Currently, it is more profitable for companies to buy emission allowances under the EU Emission Trading Scheme (EU ETS), which cost approximately €3 per tonne of CO2, while for CCS the price is approximately €30-100 per tonne of CO2. In addition, the funding provided under the New Entrance Reserve 300 (NER300) and the European Energy Programme (EEPR) needs the co-funding of public authorities in order to launch CCS demonstration projects. No such projects have started yet. Further, as CCS has not yet started in the European Union, no infrastructure is yet in place. Social Another problem is public opposition against carbon dioxide storage onshore. A good example is the Dutch Barendrecht case, where storage of CO2 under land would take place, was not carried out, as it was not socially accepted. The reason the project did not take place, was that civilians felt uncomfortable about having carbon stored under their land and the dangers linked to this storage. Still the decision was taken to store carbon under the land of these civilians and they felt that the decision was taken without them. In addition, scientists did not agree on whether carbon storage under land was considered to be safe and the local government opposed against the project while the national government was in favour of the project. Policies and legislation The final problem relates to current policies and legislation already in place. Under Directive 2009/31/EC on CCS, the storage company is, at least for 20 years, responsible for this storage. After those 20 years, once the CO2 storage is stable, the Member State government will take over this responsibility. However, storage companies do not want to be responsible for 20 years, because of the extensive period with which they will be liable. It should be noted that companies that capture and transport the carbon dioxide are exempted from this responsibility. Also, under the London Protocol, carbon dioxide cannot be stored underwater, because it is classified as waste. This further limits the availability of storage facilities and hinders the CCS movement. . Incentives for CCS When looking at these problems it would appear that CCS does not have a future, but this is not necessarily true. CCS also has some advantages and is an essential part of reaching the 2050 low-carbon economy goal. Some examples of CCS incentives are: – a reduction of greenhouse gas emissions. Modelling undertaken by the International Energy Agency (IEA) forecasts that CCS could contribute to a reduction of 19% of total global greenhouse gas emission reductions by 2050. This includes reductions from coal and natural gas-fired power plants, as well as all other sources. The overall goal is a reduction of 50% of global greenhouse gas emissions compared to the 1990 levels; – the oil and gas industry will get more oil and gas by injecting carbon dioxide. This is achieved by the technique of enhanced oil/gas recovery. For example, carbon dioxide is injected and this leads to an extraction of 30 to 60% or more of the reservoir’s original oil can be extracted, compared with 20 to 40% using primary and secondary recovery. (In the primary recovery phase natural pressure within the oil drives the oil towards the production wells and, with the help of pumps or other mechanisms, to the surface. In the secondary recovery phase water is injected into an oil reservoir to increase the pressure and again drive the oil towards the production wells.); – the creation of many more jobs, which is a very desirable development in times of a high EU unemployment rate. For example, the Carbon Capture and Storage Association (CCSA) states that CCS could create 100,000 jobs across the United Kingdom by 2030. This would contribute to £6.5 billion to the economy of the United Kingdom. Future of CCS? When looking at the problems and incentives of CCS it is difficult to say whether CCS has a future. Despite the financial problems, another major problem is that CCS is not yet socially accepted. Within the European Union, people do not yet fully understand why carbon dioxide should be stored under the ground and they want to see proof that health will not be negatively affected. The European Union public believes that carbon dioxide emissions have negative health effects, but this is something that will always be there to a certain amount. This is the complete opposite of Norway, where the public also finds that carbon dioxide emissions have negative health effects, but carbon dioxide emissions should be completely avoided. More specifically, in 2000, the Norwegian government resigned over the proposed construction of two gas power plants, which would lead to an increase of carbon dioxide emissions. Therefore, applying CCS is seen as a very positive development as carbon dioxide emissions are reduced and as mentioned above the good thing is more oil and gas is retrieved. However, it should be noted that storage of carbon dioxide is within the EU a major issue as the EU does not have as much storage place under the sea as Norway. Therefore, storage under land will be a necessity. In conclusion, the European Commission, together with the governments of the 28 Member States and CCS scientists should cooperate to bring the same message across, namely CCS is a bridging technology that is necessary to obtain a low-carbon economy by 2050. (See also statement of the European Commission in the Consultative Communication on The Future of Carbon Capture and Storage in Europe, COM (2013), 180 final of 27 March 2013, page 22: “CCS is at present one of the key available technologies that can help to reduce carbon dioxide emissions in the power generation sector”.) In addition, having more projects in place which show that CCS works, and is not dangerous (living on a natural gas well is more dangerous) and brings people something (such as jobs), then CCS has a bright future. M.J. Huijbers LLM is EHS Consultant for NL and partially EU for Enhesa. Continue reading
