Sunday, May 6, 2012

3883.txt

date: Fri, 2 Jul 1999 11:46:15 +0100 (GMT Daylight Time)
from: Andrew Jordan <A.JordanatXYZxyz.ac.uk>
subject: FYI
to: Tim O'Riordan <T.oriordanatXYZxyz.ac.uk>, Mike Hulme <M.HulmeatXYZxyz.ac.uk>

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BP Amoco launches emissions trade auditing
ENDS Daily - 25/06/99
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An innovative internal greenhouse gas emissions trading
scheme set up by oil major BP Amoco is to be independently
audited, it was announced in London today. A world first
when it was launched last year, the scheme is intended to
help BP Amoco meet its voluntary target of cutting
greenhouse gas emissions by 10% from 1990 levels by 2010
(ENDS Daily 21 September 1998). For the group of companies
that will audit BP's trading system, the scheme is also a
test-bed for other companies that might develop corporate
schemes as country-to-country emissions trading envisaged
under the Kyoto protocol begins in the next decade.
Auditors KPMG, verification firm Det Norske Veritas and
consultancy IFC will check whether international financial
and environmental reporting criteria are being applied by BP
Amoco managers and whether the trades are credible, verified
and transparent. Since last year, 12 of the company's
business units have made trades in carbon dioxide emissions
(CO2) at prices ranging from US$17-22 (euros 16.50-21.30).
The total amount of CO2 traded so far is 80,000 tonnes,
which is just over 1% of the firm's 1998 emissions. Next
year, the project is due to be extended from the first 12 to
all 126 business units in BP Amoco. Methane, which accounts
for 10% of the firm's greenhouse emissions, will also be
tradable.

Contacts: BP Amoco (http://www.bpamoco.com), tel: +44 171
496 4041; KPMG (http://www.kpmg.co.uk), tel: +44 171 311
1000.

__________________________________________________________

Dr. Andrew J. Jordan
Senior Research Associate
CSERGE; and Co-Editor, Government and Policy;
School of Environmental Sciences
University of East Anglia (UEA)
Norwich
NR4 7TJ
United Kingdom (UK)

Tel: (00)(44) (0)1603 592552/593176
Fax: (00)(44) (0)1603 593739/250588

CSERGE Webpage: http://wwww.uea.ac.uk/env/cserge/
Government and Policy Webpage: http://wwww.pion.co.uk/ep/
___________________________________________________________

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