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Cap and trade bill to generate hundreds of billions in revenue
The US Government`s proposed cap and trade legislation will create almost $900bn (£560bn) in extra revenue over the next nine years, according to a report from the Congressional Budget Office.
After payroll and tax offsets, the law would generate $253.2bn between 2010 and 2014, and $845.6bn between 2010 and 2019, said the report. Federal spending on emissions reduction would amount to $821.2bn during that decade, which would create a profit of $24.4bn during that time period.
Most of the cash will come from the auctioning and distributing allowances that would be used by companies to offset ... |
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Guidance on how to measure and report GHGs launched
A public consultation on guidance aimed at helping organisations to manage and reduce their greenhouse gas (GHGs) emissions was launched this week by Defra and DECC.
The guidance published under the requirements of the Climate Change Act 2008, outlines a simple and clear step-by-step process on how an organisation should calculate its own corporate `carbon footprint.` The guidance will be published after the consultation by 1 October 2009.
Secretary of State for the Environment, Hilary Benn said:
`I hope this guidance will make the measuring and reporting of greenhouse gas emissions ... |
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