Results 1 - 10 of 202
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[en] An overview is presented of the financial and legal issues associated with environmental audits, with an emphasis on tax issues. Accelerated depreciation write-offs are provided for qualified pollution control equipment, and may also qualify for tax credits. The Accounting Standards Committee recommends that provision should be made for future removal and site restoration costs and net of expected recoveries, in a rational and systematic manner by charges to income. Under the Federal Income Tax Act (ITA), future reclamation and shutdown costs will only be deductible if they pass three hurdles: a liability which requires the expenditure of funds in the future may not necessarily be an expense; if the liability can be viewed as an expense, is it incurred for the purpose of gaining or producing income; and is a deduction prohibited because it is on account of capital. A proposed solution to these problems is to adopt the US model that allows the deduction of estimated costs of reclaiming land that is disturbed during the current year at mines and waste disposal sites. Tax treatment of compliance costs, securities law disclosure, proposed federal government policies, proposed regulatory measures, and proposed fiscal measures are discussed
[en] An overview of the Canadian income tax laws that apply to cogeneration projects was presented. Certain tax considerations could be taken into account in deciding upon ownership and financing structures for cogeneration projects, particularly those that qualify for class 43.1 capital cost allowance treatment. The tax treatment of project revenues and expenses were described. The paper also reviewed the 1999 federal budget proposals regarding the manufacturing and processing tax credit, the capital cost allowance system applicable to cogeneration assets and the treatment of the Canadian renewable conservation expense
[en] The promotion of renewable energy cannot be separated from the support provided by government subsidies. However, the effect of government subsidies is controversial. Taking China’s listed renewable energy companies as examples, this paper analyzes the impact of government subsidies on the financial performance of these companies. The results show that government subsidies do not promote improvements in corporate financial performance, and renewable energy companies are less profitable than other companies. The negative effect of government subsidies on corporate financial performance can be explained mostly by the rent-seeking behavior of firms. The occurrence of subsidy-induced overcapacity and adverse selection and moral hazard created by asymmetric information also weaken the incentive effect of government subsidies to some extent.
[en] CO2 storage has a great potential for the natural gas industry in the Netherlands and can contribute to the Kyoto protocol targets for the Netherlands. However, still some problems with regard to the expensive processing, safety, environmental impacts, subsidies and legal aspects need to be solved. In this article attention will be paid to the last two issues
[nl]CO2-opslag staat nog in de kinderschoenen, maar de verwachtingen zijn groot. CO2-opslag heeft dan ook een groot potentieel voor gasland Nederland. Dit zou in de toekomst een belangrijke bijdrage kunnen leveren aan het verwezenlijken van de Kyoto en post-Kyoto doelstellingen van ons land. Maar voordat CO2-opslag een grote vlucht zal nemen, moet nog een aantal obstakels overwonnen worden. Belangrijke issues zijn de kostbare verwerkingsmethode, veiligheid, gezondheid, milieu, subsidies en juridische aspecten. In dit artikel zullen wij vooral ingaan op een aantal aandachtspunten ten aanzien van de laatste twee aspecten
[en] This paper discusses the equity effects of using economic instruments--such as a carbon tax or carbon emissions trading program--to regulate greenhouse gas emissions. Determining these equity effects is more complicated than assessing overall costs and benefits, although some of the same issues arise. Among the key issues are the following: (1) benchmark for evaluating impacts of economic instruments (status quo or regulatory program that achieves the same emission reductions); (2) use of any government revenues collected, which are transfers overall but affect gains and losses; (3) time period (long-term or transitional impacts); and (4) groupings (income groups, sectors or regions). Empirical studies suggest that a national tax is regressive in the US but may be less so in other countries. The equity impacts of an international carbon tax or emissions trading program differ greatly depending upon the specific elements. The paper considers options to compensate or mitigate adverse effects to income groups, sectors, or regions of the world. Although impossible to avoid all losses to every group, it would be possible to avoid major equity effects if carbon taxes or carbon trading programs were used to control global warming
[en] The use of economic initiatives or economic instruments as an alternative to or as support for existing environmental legislation is reviewed. The most controversial area of economic incentives is the concept of creating a market in pollution rights. While emissions trading can enable economic growth in areas of high pollution, this approach is only marginally different than the traditional regulatory approach. Environmental economics is complex, with mixtures of private and public costs. Social costs include subsidies, waste treatment, landfill disposal costs, etc. More intangible social costs include public health costs and damage to the natural environment. Conventional economic approaches ignore most such social costs. Several European countries have started to develop a green gross national product (GNP) which sets out an alternative approach to the traditional measure of economic activity by subtracting a figure for harm to the environment from economic activity. This ambitious approach attempts to measure the costs of all toxic discharges along with the disappearance of plant and animal life and other environmental changes. A powerful new tool for the environmental manager is full cost accounting, which uses a long (10-20 y) window for projects, anticipates the impact of stricter discharge standards, and attempts to quantify a range of less tangible social costs elements, such as liability, improved environmental image, etc. Various strategies can be ranked on the basis of their future risk cost. The application of full cost accounting models, small business, computer models and expert systems, developing country debt-for-nature swaps, and environmental risk assessment are discussed. 12 refs
[en] The European power industry has shown its readiness to contribute actively in the reduction of greenhouse gases. The policy of the European power industry with regard to the proposals of the Council and the Commission of the European Communities for combined CO2/energy taxes are summarized. Combined CO2 and energy taxes will increase the price of electricity with 0.28 Belgian Franks per kWh for nuclear energy to 0.74 Belgian Franks per kWh for energy produced by the existing coal power plants in Belgium. The power industry stresses the benefits of climate protection on the basis of voluntary self-commitments. The benefits of these covenants are summarized and a proposal for possible actions with regard to an effective strategy for greenhouse gas control is given. It is argued that the charging of taxes in order to reduce CO2 emissions are insufficient in the light of the obligation to use fossils fuel instead of nuclear or hydrological energy and the growing demand of electric power by the industry. In addition, the taxes will have a negative effect on the European economy. It is argued that alternative options such as the reforestation as well as the optimisation of the yield of Eastern European power plants ought to be be considered. (A.S.)
[en] Climate change brings uncertain risks of climate-related natural hazards. The US Federal Emergency Management Agency (FEMA in Climate change: long-term trends and their implications for emergency management, 2011. https://www.fema.gov/pdf/about/programs/oppa/climate_change_paper.pdf ) has issued a policy directive to integrate climate change adaptation actions into hazard mitigation programs, policies, and plans. However, to date there has been no comprehensive empirical study to examine the extent to which climate change issues are integrated into state hazard mitigation plans (SHMPs). This study develops 18 indicators to examine the extent of climate change considerations in the 50 SHMPs. The results demonstrate that these SHMPs treat climate change issues in an uneven fashion, with large variations present among the 50 states. The overall plan quality for climate change considerations was sustained at an intermediate level with regard to climate change-related awareness, analysis, and actions. The findings confirm that climate change concepts and historic extreme events have been well recognized by the majority of SHMPs. Even though they are not specific to climate change, mitigation and adaptation strategies that can help reduce climate change risks have been adopted in these plans. However, the plans still lack a detailed assessment of climate change and more incentives for collaboration strategies beyond working with emergency management agencies.
[en] The recent debate about the use of economic instruments aiming at achieving the GHG goals led to a number of important insights and conclusions. However, the implementation of these instruments is still rather weak. One reason is that the proposed GHG solutions (particularly CO2-taxes) are faced with some ambiguities and shortcomings, which require further analysis and discussion. Another reason is that any democratic government has problems to solve problems being identified through scientific analyses but not through daily experience. Any progress in implementing GHG policies requires to convince the larger public about the necessity of an active GHG policy and the unavoidability of costs associated to this policy. In this dilemma situation the change to implement GHG strategies can be improved by a sophisticated combination of voluntary agreements and monetary as well as non-monetary incentives to environmental innovations. According to the game theoretical view, voluntary agreements can't perform better than CO2-taxes that will be implemented in case of non-compliance. The paper argues that voluntary agreements can improve the credibility of governmental threats to implement hard measures at a later time. Still voluntary agreement s alone are negligible with respect to GHG emission reductions beyond business as usual. But they may be useful for focusing private business plans on ecological innovations. As far as such innovations become feasible they contribute to the low cost GHG reduction potential as well as the public support for a more active GHG policy. (Author)
[en] This report summarizes the 1991 ecological research activities (ecosystems research, urban ecology, tropical ecology, forest decline, ecology of soils and waters, ecotoxicology, environmental pollution and health, protection of biotopes and protection of the species) which the project sponsors 'biology, energy, ecology' (Forschungszentrum Juelich) and 'environmental research and climatological research' (GSF-Forschungszentrum fuer Umwelt und Gesundheit) have been supervising on behalf of the Federal Ministry for Research and Technology to promote the subproject 'environmental research'. A general survey introduces the promoted projects, and standardized data sheets briefly introduce the individual activities. The appendix gives the project indices, the indices of joint projects, and a list of the supported companies and institutions. (BBR)
[de]Die beiden vom Bundesministerium fuer Forschung und Technologie (BMFT) mit der Betreuung der Foerderung des Teilprogramms 'Umweltforschung' beauftragten Projekttraeger 'Biologie, Energie, Oekologie' des Forschungszentrums Juelich und 'Umwelt- und Klimaforschung' des GSF-Forschungszentrums fuer Umwelt und Gesundheit berichten gemeinsam ueber die im Jahr 1991 durchgefuehrten Foerdermassnahmen im Bereich 'oekologische Forschung' (Oekosystemforschung, Stadtoekologie, Tropenoekologie, Waldschaeden, Bodenforschung, Gewaesseroekologie, Oekotoxikologie, Umweltbelastung und Gesundheit, Biotop-und Artenschutz). Neben einer Gesamtuebersicht ueber die gefoerderten Projekte erfolgt die Kurzbeschreibung der einzelnen Aktivitaeten auf standardisierten Datenblaettern. Der Anhang enthaelt die Register der Projektnummern und Verbundprojekte sowie ein Firmenregister. (BBR)