Climate Change Update: Renewable Energy: RP to make money in carbon-credit trade

RP to make money in carbon-credit trade: "The Philippines will be a key player in the growing carbon-credit market because its rains, topography and its geothermal resources are suited for producing renewable energy, an Australian carbon services company said.

The carbon credit market was born out of the European Union’s limits on carbon emissions. Any company that exceeds the limits has to buy credits from renewable energy companies and companies that reduce carbon emissions, such as landfills designed for that.
These companies earn these credits when they are registered under the United Nations Framework for Climate Change (UNFCC). While limits have not yet been set, some Japanese companies already buy carbon credits voluntarily.

More than 3,000 projects are registered, 32 of which are in the Philippines. The largest is the Ambuklao, Benguet hydro plant controlled by Aboitiz Power at 160,000 metric tons of carbon dioxide per year.
First Farmers Holdings Corp.’s bagasse cogeneration plant (120,000) in Negros Oriental and the biogas emission reduction project at Quezon City’s waste disposal facility (116,000) are next. The windpower plant at Bangui Ilocos Norte has 57,000, on the other hand."