[quote="Laurie Farquharson"]We need to identify alternative practices to existing processes while being mindful when developing new ones. Many companies are implementing alternatives in direct response to the Kyoto protocol – they are increasing their sales, creating more jobs and reducing the emissions that they were previously producing. Is it enough, or is it to little to late? I would say that it is a beginning but we are merely scratching the surface. [/quote]
Hi Laurie – I’ve enjoyed what both you and Leslie have said on the issue of whether Kyoto is an issue “too little too late”. You’re right – alternatives must be found across all industries not only in response to the Kyoto issue, but also for the sake of the planet itself.
The primary hurdle of many of the entities directly involved in the issue is to not see Kyoto as a problem, but instead as an opportunity. New technology would have to be employed in order to reduce CO2 emissions from gas-fired power plants. Additionally, the replacement of coal with natural gas for utilities will bring in an expansion in natural gas exploration and technology, which could offset any job losses in the coal industry.
A recent agreement between such powerhouses as BP, Shell, DuPont, Suncor, Alcan, Ontario Power, and the US advocacy group Environmental Defence has been struck for just a purpose. The group plans to establish market-based mechanisms to achieve early and credible actions on reducing GHG emissions in an efficient and cost-effective manner. The partnership wants to show that compliance to the accord can occur while still providing profits to shareholders and products to customers. If a company can become eco-friendly, the process would likely also improve their overall performance, not only on the production side, but also on the trading floor. As an example, TransAlta has retrofitted a number of their coal-firing thermal plants for better efficiency. Not only has this reduced the GHG emissions produced, but also increased the electrical output per unit coal, thereby reducing the usage of the resource.
The world today has a lot of faith in technology, and what it can accomplish. New technologies must be part of the ever changing global landscape. The Energy and Resource sectors of industry hold great promise for advancement with the use of long-term technologies. Perhaps rather than implementing prices for carbon credits, the Canadian government should offer tax incentives for the development of new technologies proven to be related to the reduction of GHG.