Interesting. I was not aware of Richard Branson's offer.Gothmog said:There is a lot of study being done on mitigation, you may have heard about the 25 million dollar prize recently offered by Richad Branson (chairman of The Virgin Group) for viable carbon sequestration. I don't know what the balance of funding is in the field as a whole, it comes from both government and industry though. As far as mitigation probably more from industry. I'm not sure what you mean by 'commercially viable' in this context.
I mean commercially viable, for instance, with hybrids. The technology is there but it needs a little governmental push and commercial fleets (IE govt. vehicles, taxis, buses etc) to buy in and bring the economies of scale to the market. The consumer will follow.
I'm familiar with the climate exchange and it seems to be gaining strength since capital markets reward environmentally superior companies.Gothmog said:We might do well to institute some form of carbon emission trading, as has already been done for sulfur emissions in the US. But if public opinion were strong enough it would be unnecessary IMO.
http://www.chicagoclimatex.com/news/index.html
This happened on the exchange last week.
Carbon Resource Management has successfully registered the first carbon credits originating from a windfarm project in China at the Chicago Climate Exchange (CCX) and executed on the CCX trading platform.
The carbon credits originate from a wind farm in Northeast China where 23 wind turbines have been installed, each with a power output of 1,500 kW. The project is expected to generate approximately 74 GWh of electricity per year. A total of 74,779 credits were traded at the CCX, corresponding to the period from October 2005 to August 2006. Further credits for the following years are expected to be verified and registered for trading at the CCX at a later date.
Nick Clarke, CRM's CEO said: "The success of delivering and trading verified emissions from China to the CCX demonstrates that the mechanisms are in place to effect carbon trading worldwide and that this is the solution for tackling climate change."