THE 5-MINUTE INTERVIEW: Boy Litjens, CEO of Sabic Europe and President of the European Petrochemicals Association (EPCA)
“We have to do the right thing in terms of cost cutting, postponing projects and reducing head count.”...

Japan Approves Carbon Trading Trial Scheme
The Japanese government has approved a previously announced carbon-trading trial market in the country, which allows companies to set their own emission reduction targets, say reports. Under the scheme, companies which cut emissions beyond their voluntary targets will be allowed to sell carbon allowances to...

EU Parliament Committee Votes to Charge Industry for GHG Emission Permits (update 1, adds Cefic comments)
The European Parliament’s environment committee has voted to adopt the European Commission’s proposed legislation to toughen the European Union (EU) emissions trading scheme (ETS) from 2013. The proposed legislation aims to reduce greenhouse gas (GHG) emissions from most industrial sectors by 21%...

House Leaders Release Draft Climate Legislation
House Energy and Commerce Committee leaders have released a long-awaited draft of legislation that would establish a U.S. cap-and-trade program for greenhouse gas (GHG) emissions. Representatives John Dingell (D., MI) and Rick Boucher (D., VA) released the "discussion draft," which they say is the...

Proposed EU Emissions Trading Scheme is Equivalent to a "10-35% Tax"
The European Commission's proposal for a tougher emissions trading scheme (ETS) from 2013 will increase total operating costs for chemical companies by between 10% and 35%, according to...

STUDY: Carbon Capture Can be Economically Viable by 2030
Carbon Capture and Storage (CCS)-featuring experimental technologies that capture and store carbon dioxide emissions from power and manufacturing plants underground-could be economically viable in Europe by 2030, according to the findings of a report published this week by consulting firm McKinsey. The...

Germany to Defend Energy-Intensive Industries from EU Emissions Trading Costs (update)
The European Union’s (EU) proposal to auction off greenhouse gas (GHG) emissions permits for the next phase of the region’s Emissions Trading Scheme (ETS) from 2013 through 2020-instead of the current system of free permit allocation-has come up against opposition from Germany. The German...

Chemical Industry Underpins EU Emission Cuts
Greenhouse gas (GHG) emissions in the European Union (EU) decreased 0.3% or 14 million m.t. of carbon dioxide equivalent (CO2e) between 2005 and 2006 to 5.1 billion m.t. of CO2e, according to an official inventory report by the EU. The reduction was mainly due to a cut in emissions of nitrous oxide from...

Hong Kong Facilitates Carbon Trading
Hong Kong has set up a legal framework to enable certain projects, such as power plants, to buy and sell carbon credits. Critics say projects already in planning...

Mandatory Carbon Capture for Fossil Fuel Power Plants to be Tabled in the European Parliament
Chris Davies, member of the European Parliament and parliamentary rapporteur for draft carbon capture and storage (CCS) technology legislation in the European Union (EU) plans to table a proposal in the parliament to ban new fossil fuel plants in the region unless they feature (CCS) technology. Under the...