There are significant environmental benefits associated with SEG’s commitment to solar energy generation, including reduced carbon emissions and the development of local carbon credit markets. United Carbon Credit Development (UCCD), a facilitator of international trading and monitoring of carbon credits, will provide additional value to countries engaged with SEG and ISU.
Reduced Carbon Emissions
Industrial entities around the world must comply with mandatory carbon emissions reduction regulations. The hardest hit business sectors affected by these regulations are utilities that use coal to generate electricity because they have the greatest carbon emissions. There are few options available for compliance with emissions regulations. For instance, a manufacturer could reduce its electricity consumption, which would lead to reduced emissions, but also lead to reduced output and profits. As an alternative, the manufacturer could purchase electricity from a supplier using renewable energy, but there is no guarantee that the manufacturer will be able to purchase enough to be able to comply with emissions regulations.
SEG and ISU solar parks will provide clean, renewable energy that reduces greenhouse gas emissions and satisfies the Kyoto Protocol.
Development of Local Carbon Credit Markets
ISU, through its solar parks, will practice in and lobby for the development of carbon credits in respective countries. Carbon credits are issued to renewable energy power generating sources based on the amount of their clean power output. If the appropriate legislation is in place, companies that emit carbon emissions for their operations are forced to either pay a high cost for their carbon emissions or buy carbon credits from companies like ISU to offset their emission.
International trading and monitoring of carbon credit schemes are still evolving, but the fact remains that the purpose of carbon credits is to reduce global carbon emissions. Therefore, eventually carbon credits will evolve into an international currency so that renewable energy projects in one country can offset projects that emit carbon emissions in another country. Carbon credits will eventually make all carbon emitters responsible for their pollution no matter where they are in the world.
SEG takes serious is philosophy of reducing carbon emissions globally, so UCCD will work to develop international and local carbon credit markets.
Please find link below for more information on carbon credits: