MOSAIC: Greenhouse gas trading
WORLDWIDE trading of greenhouse gas emissions more than doubled over the last year to about 71 million tonnes, with governments and multilateral agencies accounting for more than half of the purchases, according to a recent study released by the World Bank.
The bank is pioneering the market for project-based ways to cut emissions of carbon dioxide, a greenhouse gas that many scientists believe is a cause of rising global temperatures. Power plants and oil refineries that burn fossil fuels are among the biggest producers of carbon dioxide emissions.
The study said power sector projects including hydropower, biomass and wind energy created half the emission reductions that were traded in 2003. Emission reductions created by renewable resources represented about 37 per cent of traded volumes. Trading in carbon dioxide emissions totalled 29 million tons last year and rose to 71 million tons in 2003.
That is a tiny amount of worldwide energy-related carbon emissions that are expected to rise to a total 8.3 billion tons by 2010 from 6.6 billion tons in 1996, according to US government data. The prices paid in emissions trading rose to a range of $4/- to $6/- per ton in 2003.
The report was released as international officials met in Milan to discuss details of a United Nations sponsored global warming pact, the Kyoto Protocol.
The United States, the world’s biggest emitter of carbon, has refused to participate in the treaty. The pact cannot take effect unless Russia agrees to sign it, allowing the treaty to represent 55 per cent of industrial nations’ emissions.
Carbon trading would likely soar should the Kyoto treaty go into effect because many countries would have to buy credits to bring their pollution levels into compliance. But even with the ratification of Kyoto on hold as key signatory Russia wavers, trading volumes will likely expand next year.
“Given all the pledges we’ve seen, the quantity will be at least as much next year,” said a World Bank economist.
The market, which was hard to value but was probably worth more than $200 million in 2003, could double again in 2004 if more companies join governments in buying the credits from developing countries. Energy, paper, and glass companies are among those interested in buying carbon credits to help comply with pollution curbs.
India and Latin America have taken greatest advantage of the market. Many African nations and China have stayed on the sidelines. China still has fewer carbon credit deals than much smaller Costa Rica. The biggest buyers of the credits are European governments, notably the Netherlands. Spain, Italy, and others may sign on as they look for ways to meet their Kyoto pledges.
The Kyoto treaty aims to cut carbon dioxide emissions by five per cent from 1990 levels by 2008-12 as a first step to limit rising temperatures blamed for more frequent floods, droughts, heat waves, and storms. — Samina Iqbal
Limiting the risk
ESCHERICHIA Coli 0157 causes severe bloody diarrhoea and occasionally kidney failure, states a recent issue of the Journal of American Medical Association. Healthy cattle are the most important reservoir, and humans get infected by contaminated food or water or from contact with infected animals. Because E Coli 0157 has a low infectious dose and can survive in the environment, so this may be an important public health problem. Contaminated surfaces as railings of zoos and soil of pastures have caused outbreaks. County fairs, common in the US, bring animals and humans in close contact and have been recognized to be a potential danger. Children and adults, are both affected and can spread the infection for long periods.
An outbreak of E. Coli 0157 occurred in Lorain County, Ohio in 2001 involving 111 individuals. It was speculated that the cause was contamination of a building when an infected cow defecated on the building’s saw dust which became airborne. Individuals who touched contaminated surfaces of the building got infected especially when they ate without washing their hands. Some may have swallowed bacteria which landed directly onto their mouth or on food.
Preventing outbreaks is possible by installing inorganic ground covers as sand and re-designing venues to limit public traffic through animal areas. Effective surface decontamination and education of the public at fairs with animals will help in reducing infection. Frequent meticulous hand washing with soap and water is the only practice to reduce the risk of E. Coli infection. — Dr Fatema Jawad
The weight of a gold bar
GOLD is made into a large number of different bars of different weights. The most well known are the large ‘London Good Delivery Bars’ which are traded internationally. These weigh about 400 Troy Ounces, i.e. 12.5 kg/27 lbs., each. Others are denominated in kilogrammes, grammes, troyounces, etc. In grammes, bars range from 1 g up to 10 kg. In troy oz, from 1/10 tr.oz. up to 400 tr.oz.. Other bars include tola bars and Tael bars.
Gold is traditionally weighed in Troy Ounces (31.1035 grammes). With the density of gold at 19.32 g/cm3, a troy ounce of gold would have a volume of 1.64 cm3. A tonne of gold would therefore have a volume of 51, 760 cm3, which would be equivalent to a cube of side 37.27cm (Approx. 1’ 3’’).—WC
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