Carbon Finance Report

If you’re in debt and looking for some advice on the best way out of it, you might have wondered where the best place is to get debt help.

Some people will turn to their friends. Others will turn to debt professionals.

The good thing about talking to your friends is that you might find it easier to talk to them. Debt is a very personal subject and some people don’t feel comfortable talking to someone they don’t know – while others would prefer to talk to a stranger, as they know that person won’t be able to let something slip by mistake when they’re talking to a mutual acquaintance!

Objectively, though, a debt professional is far more likely to know a lot about debt than the average person. They should know about the different kinds of debt help that are available, from debt consolidation to bankruptcy. So they should be in a much better position to advise someone on the best way of getting out of debt.

They should also be able to explain all the pros and cons of each kind of debt help. It’s a vitally important part of choosing a debt solution: different debt solutions can damage someone’s credit rating, require them to release equity, or even end up leading to the repossession of their home, so no-one should commit themselves to anything before they’ve taken the time to understand all the consequences – and whether an alternative form of debt help could help them sort out their finances without imposing this kind of drawback.

Of course, what many people do is talk to their friends and ask them what professional they spoke to when they needed some debt help. This way, they can benefit from the experience of a professional – who was recommended by someone they really trust on a personal level.

For more information, visit GregoryPennington.com

As I’ve mentioned before, I work in the financial markets. Things are just crazy right now and getting worse by the day, so I havent had the time to update this site like I want. One day, hopefully soon, when things stabilize a bit I’ll get back to these updates every other day. Also, I have been planning and working on an additional carbon related site that I am very excited about. I’ll announce it in a month when its ready to go live.

I cant predict the future, but hopefully the world of finance will return to some normalcy (but at much lower levels) next week, at which time I’ll get back on track with this. In the meantime, I thought I’d post an article below that seems to have found the silver lining in this financial disaster we are going through:

Economic woes may give planet a breather

A slowdown in the world economy may give the planet a breather from the excessively high carbon dioxide (CO2) emissions responsible for climate change, a Nobel Prize winning scientist said on Tuesday.

Atmospheric scientist Paul J Crutzen, who has in the past floated the possibility of blitzing the stratosphere with sulfur particles to cool the earth, said clouds gathering over the world economy could ease the earth’s environmental burden.

Slower economic growth worldwide could help slow growth of carbon dioxide emissions and trigger more careful use of energy resources, though the global economic turmoil may also divert focus from efforts to counter climate change, said Crutzen, winner of the 1995 Nobel Prize in Chemistry for his work on the depletion of the ozone layer.

“It’s a cruel thing to say … but if we are looking at a slowdown in the economy, there will be less fossil fuels burning, so for the climate it could be an advantage,” Crutzen told Reuters in an interview.

“We could have a much slower increase of CO2 emissions in the atmosphere … people will start saving (on energy use) … but things may get worse if there is less money available for research and that would be serious.”

CO2 emissions, released by the burning of fossil fuels in power stations, factories, homes and vehicles, are growing at almost 3.0 percent a year.

The U.N. Panel on Climate Change estimates that world temperatures may rise by between 1.8 and 4.0 degrees Celsius (3.2-7.2 degrees Fahrenheit) this century. The Group of Eight industrial nations agreed in July to a goal of halving world emissions by 2050.

Crutzen was in Cyprus for a lecture organized by the Cyprus Institute, a research foundation.

He caused a stir with the publication of a paper in 2006 suggesting that injecting the common pollutant sulfur into the stratosphere some 10 miles above the earth could snuff out the greenhouse effect.

He believes that dispersing 1 million tons of sulfur into the stratosphere each year, either on balloons or in rockets, would deflect sunlight and cool the planet.

Scientists observed that world temperatures dropped by 0.5 degrees centigrade on average when Mount Pinatubo in the Philippines erupted in 1991, spewing sulfur dioxide into the atmosphere, and Crutzen said the idea originated with a Russian scientist about 30 years ago.

“I am not saying we should do it, but it is one of the options if we continue under present conditions. We should study it,” he said. “If you look beyond a decade, two decades, and nothing has been done (to counter warming) then we will have a very serious problem on our hands.”

Sulfur is a component of acid rain, which has harmful effects on plants and fish.

“Acid rain is caused by sulfur dioxide emissions from the ground, from the chimneys, and it’s 50 million tons per year. The experiment in the stratosphere would be one million tons of sulfur per year. It’s negligible,” he said.

It would be an extreme endeavor, but for extreme circumstances, he said.

In a 2007 report, the U.N. climate change panel said such geo-engineering options were largely speculative and unproven, with the risk of unknown side effects. Reliable cost estimates had not been published, it said.

“The price is not a major factor… it’s peanuts,” said Crutzen. “The cost has been estimated by some at 10, 20 million U.S. dollars a year.”

EU ETS

A few things to get you through til Monday.  Looks like only EU making the news today:

• My trillion dollar question – will US learn from EU’s mistakes? | Businessweek: World Watches EU’s Carbon Trading Scheme

Despite its failures to date, however, other areas of the world are looking to the ETS as a model of how to achieve carbon reductions at the lowest cost.

• EU C02 emissions up slightly, but officials defend the bloc’s cap-and-trade program

But EU officials insisted that emissions would have been higher if Europe did not make power stations and steel plants trade carbon permits that load excessive polluters with extra costs.

• Airlines not happy (are they ever?) | British Airways warns carbon trading will cripple Europe’s airlines

Willie Walsh, BA chief executive, said the airline’s long-time support for an EU emissions trading regime was being “severely tested” by amendments that would more than double the costs to member states’ carriers.

CARBON MARKET

- Carbon market Boom. EU facts and figures. | Investors jolt EU carbon trading levels

The value of the European Union carbon emissions trading more than doubled last year to $50bn (€32bn), amid heightened investor appetite and improved market infrastructure.

The market grew from $24.4bn at the end of 2006 to $50.1bn, according to a report by the World Bank.

Trading is up more than sixfold since 2005, when permits worth just $7.9bn changed hands.

- The Boom should continue.  Nice high level overview of world carbon market. | Global carbon market takes flight

Until now, most of the action has been based on European regulations, but U.S. project developers and Wall Street are gearing up for the arrival of greenhouse gas legislation in the United States – both at state and federal levels – that could create a carbon market several times larger than the European one.

UNITED STATES

- Harvard Prof Greg Mankiw’s blog | McCain vs Obama: Carbon Auctions

Any cap-and-trade system for carbon creates a valuable resource: the right to produce carbon. A key question in the design of the system is how those carbon allowances are allocated.

INDIA

- MCX ropes in global co for carbon mkt

…did not stop the Multi Commodity Exchange of India (MCX) from trying to induce vibrancy in its carbon credit trading platform. MCX has roped in IDEAcarbon as its global strategic advisor on climate change policy.

The objective behind the tie-up is to develop the carbon market in India and internationally.

UK

- Defra: Personal carbon trading ‘ahead of its time’

The report said: “While personal carbon trading remains a potentially important way to engage individuals, and there are no insurmountable technical obstacles to its introduction, it would nonetheless seem that it is an idea currently ahead of its time in terms of its public acceptability and the technology to bring down the costs.”

Speaking at the Think 08 conference in London on the same day the research was published, current Environment Secretary Hilary Benn said the UK public was not ready for such a scheme.

CANADA

- Hints on our brave new climate initiative aren’t coming from the liberals

JAPAN AND RUSSIA

- SMBC, Russian Bank to Cooperate in Emissions Trading

Japan’s Sumitomo Mitsui Banking Corp. has agreed to tie up with Russia’s Bank for Development and Foreign Economic Affairs in greenhouse gas emissions credit trading.

The core unit of Sumitomo Mitsui Financial Group Inc. <8316> and the Russian state-run bank, known as Vnesheconombank, signed a memorandum here on Monday.

The tie-up will focus on information exchanges for the time being. The two sides hope to expand the collaboration to include the sale of emissions credits in Russia to Japanese companies.

ALTERNATIVE ENERGY INVESTMENTS

- Credit crunch might not be climate crunch

Investors will scrutinise far more closely where they put their money, meaning some of the more distant clean energy and climate projects might be shelved temporarily in favour of those with quicker results and therefore dividends.

McAfee Secure has gotten itself a reputation for website security, and it’s probably one of the most recognized names around. That doesn’t mean it’s the best package, however. You can find more affordable alternatives to McAfee Secure, including some that are even better. Let’s compare McAfee Secure to other website security programs such as Hacker Safe and other application penetration testing services. After our due diligence, we can then consider what’s essential in regards to a security program.

Let’s start with cost. McAfee Secure can run you nearly $2,000 a year. You can probably find a more comparable package for as little as $500 with an application penetration testing and hacker safe type of program. The world of website security has gotten considerably competitive, which drives prices down. At the same time, it’s important to understand what you’re getting for the money.

First, let’s discuss where McAfee Secure fails. For starters, there is no easy sign up process, nor is there a quick approval given for websites. By contrast, you can probably find a competitor that makes signing up a cinch, and you won’t have to spend days or weeks wondering if your website is secure. Always look for a company that offers quick approval, a feature you won’t get with McAfee Secure.

In a website security program, you need security checks to be conducted at least daily. This is a service offered by Hacker Safe, and it is essential. Shop around, but make sure daily security checks are offered by anyone you end up choosing. Who’s to say your website is secure if it’s not checked every day?

A security seal is also essential in any website security program. If you don’t have one, what’s the point?  It’s not like your customers can just take your word for it. Ideally, you should offer a security seal that is PCI certified. Without proper certification, how can you prove your security is valid? While McAfee Secure offers a security seal, they don’t offer one that is PCI certified.

CISSP security and support is also essential in a website package. While McAfee Secure offers it, not many do. If you’re looking for an alternative to McAfee, remember to ask if they’ve got CISSP security and support.

Don’t assume high rollers only like McAfee Secure; many companies are now shopping around for the best deals available and that might mean looking into a Hacker Safe or application penetration testing company that offers the best package to get the job done. More than likely, there is a cheaper alternative if you take a look. Try browsing the Internet. You’ll be surprised by what you come up with. In a global market, website security has grown into a buyer’s market. Do your research, and you can likely get a package better than McAfee Secure, at a fraction of the price. Who said reliable website security had to break your budget?