The EU has reached a unanimous decision to create a central trading platform to manage sales of the majority of EU carbon permits which are traded through the bloc’s Emissions Trading Scheme (ETS).

The central trading platform will commence during the 2013 stage of the ETS, but individual nations will also have the freedom to opt-out and hold their own auctions.  The number of permits to be issued and dates of auction have yet to be determined.

During the first phase of the ETS trading scheme, most permits were distributed to industries for free.  However as phase 3 begins, the majority of emissions permits will be sold to companies through auctions.  This includes the aviation sector, which will be required to purchase 15% of their permits at auction when it joins the ETS in 2012.

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Many of the world’s largest developed nations experienced a drop in emissions of carbon dioxide and other greenhouse gases in 2009.  China and India, however, saw their own domestic emissions levels rise significantly.  Has this growth in effect “canceled out” the reductions made in developed nations?  According to the Netherlands Environmental Assessment Agency, the answer is yes.

Global emissions levels remained relatively unchanged in 2009 largely because of Chinese and Indian contributions, despite predictions from groups such as the International Energy Agency (IEA) which thought the global economic meltdown and decrease in manufacturing would assuredly reduce emissions worldwide.

The Netherlands Environmental Assessment Agency notes that carbon dioxide emissions per person in China are now 6.1 tons, roughly equal to France which clocked in at 6.0 tons in 2009.  This figure represents a major increase for China, which in 1990 emitted only 2.2 tons per capita.    Interestingly, this increase comes Chinese wind and solar energy capacity has doubled for the fifth year in a row.

Because of its use of nuclear energy, French emissions are actually on the lower end of the scale in comparison to other developed nations.  Per capita emissions in other EU member nations were 7.9 tons in 2009, down from 9.1 tons in 1990, while per capita emissions in the United Sates fell to 17.2 tons in 2009, decreasing from 19.5 tons in 1990.

All in all, the Dutch agency now reports that 53% of 2009 global emissions came from developing nations, with 44% coming from the developed world.  International air and sea transportation accounts for the remaining 3%.

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Data from the BP Statistical Review of World Energy shows global energy consumption fell by 1.1% last year, with oil and and natural gas usage down across the board.

Global coal use, however, has remained steady.  In fact, as a percentage of world primary energy usage, coal has risen to levels not seen since 1971.

On the other hand, oil’s percentage of global energy usage has fallen consistently over the past decade; from 39.00% in 1999 down to 34.77% in 2009.

As oil production becomes more difficult and expensive, coal is increasingly being employed as a source of transportation fuels.  Nations like South Africa and China have been expanding their coal-to-liquid (CTL) programs, and China reportedly has six major CTL projects under development.

CTL processes may present an alternative way to generate liquid fuel, but it comes at a price.  CTL produces nearly double the greenhouse gas emissions of conventional fuel production from oil, and many climate and environmental advocates worry that if CTL programs become more widespread the world would experience increased emissions levels.

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According to the BP Statistical Review of World Energy, global emissions of CO2 and other greenhouse gas emissions decreased for the first time since 1998, dropping 1.1% to 31.13 billion tons after 2008′s peak of 31.55 billion tons.

However, despite this overall reduction, China’s greenhouse gas emissions have grown sharply as the nation rapidly industrializes and continues to construct new coal-fired power plants.  China is now the world’s leading emitter, having overtaken the United States in 2008.  This past year, China ‘s fossil fuel combustion released 7.5 billion tons of CO2 into the atmosphere.

China is not the only developing nation whose emissions have grown sharply.  India also saw an increase of 7%, and it has now overtaken Russia as the world’s third largest emitter.  In aggregate, the developing world now accounts for half of all global emissions.

United States emissions, on the other hand, fell by 6.5% to 5.9 billion tons in 2009, the lowest level since 1995.  However, “although the share of emerging markets is growing, the industrialized countries remain the preponderant source of historical greenhouse gases,” reminds Nick Robins, head of HSBC’s Climate Change Center of Excellence.

The United States and China, as well as the world’s other top emitters, now find themselves under tremendous pressure to either extend the Kyoto Protocol or formulate a successor to the climate treaty, which is set to expire in 2012.  Nations are also attempting to come up with domestic emissions reductions plans of their own.  “In terms of future emissions targets, China is ahead of the U.S. because it has set itself commitments to reduce carbon intensity, while the U.S. is struggling to get climate legislation through Congress,” remarks Robins.

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Grappling with skyrocketing energy demand, high pollution levels and international pressure to reduce greenhouse gas emissions, reports indicate China may consider instituting taxes on carbon or other resources to boost support for low-carbon energy technologies.

Experts from the Energy Research Institute under the National Development and Reform Commission – a Cabinet department focused on mid- and long- term domestic development – say if it is deemed beneficial, a carbon tax is likely to be levied during the 12th Five-year plan (2011-2015).

Jian Kejun, a senior researcher with the Institute, reaffirmed China’s commitment to reducing its carbon intensity 40-45% by 2020 in recent remarks to the newpaper China Daily.  To reach this target, the government is prepared to pursue “tougher measures” over the next five years, including subsidies and incentives for low-carbon technologies in addition to a potential tax.

Increasing support for scientific research is another top priority in China.  Right now, China’s investment in scientific clean energy research is only one-sixth that of the United States.  However by 2025, China’s investment in this area may overtake that of the United States.  ”If this comes true,” Jing said, “we can start to dream of becoming a low-carbon technology leader in the world.”

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PEOPLE – PLANET – PROFIT

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Advances in Technology will make conventional energy generation cleaner & more efficient whilst making alternative energy more money efficient. A Paradigm shift is occurring, but it will be an evolutionary process converting the planet to renewable resources. This Bridge period presents the best opportunity that our generation has ever seen.

Presented by

Lauralouise Duffy, CEO -

Global Fund Exchange

New York – GFX Alternatives LLC, a member of the Global Fund Exchange Group, today (Jan 13th, 2009)  announced the formation of a new multi-manager portfolio to invest in the dynamic alternative energy investment sector.

GFX Alternatives is dedicated to a diversified, global macro, multi-manager approach to allocating assets to premier investment managers who specialize in a broad spectrum of alternative energy opportunities.  The firm is led by a management team of veteran hedge fund executives, Lauralouise Duffy and Anric Blatt, and will accept outside investors at the end of the first quarter 2009.

“Throughout the world there is an energy revolution occurring that is driving public and private investments into the alternative energy arena,” said Lauralouise Duffy, CEO, GFX Group LLC.    “Investments in alternative energy solutions are aimed at achieving energy independence while reducing environmental damages.  Governments, quasi-governmental organizations, states, countries, corporations and consumers around the world are implementing critical changes to transform their use and selection of energy resources.”  

The world of energy and the investment world are on the brink of an evolutionary chapter in history.  GFX Alternatives seeks to focus its private investment capabilities on the nascent and necessary development of energy alternatives and the evolutionary opportunities that accompany the changing face of global energy.

“Increased spending in alternative energies and renewable resources will cause significant economic growth and prosperity for the companies embracing this change, yet very few asset management companies exist to explore, develop and profit from this phenomenon,” said GFX Chairman Anric Blatt.  “The GFX team has unique and extensive experience investing in and hedging allocations to the energy and resources sector.  The firm is uniquely positioned to take advantage of extraordinary opportunities in this burgeoning corner of the investment world.”

GFX Alternatives aims to cap assets in this strategy at $1 Billion and will permit its clients to take direct investments into clean tech, carbon/emissions trading, water supply and treatment, as well as energy specific traders and Commodity Trading Advisers (CTAs).

GFX Alternatives LLC will present its investment strategies and business opportunities inside the USA Pavilion of the World Future Energy Summit in Abu Dhabi, United Arab Emirates, from January 19th- 21st, 2009.  The summit will be the largest meeting of influential leaders within the renewable energy industry and is expected to draw over 15,000 attendees.  More information on the summit can be found at http://www.worldfutureenergysummit.com.

About GFX Alternatives LLC

GFX Alternatives LLC, a member of the Global Fund Exchange Group, is an alternative investment management business that is focused on the alternative energy and renewable resources sectors.  GFX Alternatives specializes in manager due diligence and selection, macro overlay of hedging, asset allocation, portfolio management and independent risk monitoring across all asset classes and managers in its portfolio.  The founders have a combined 30 years of experience in starting, building and operating investment management businesses.  The firm’s mission statement is “People, Planet, and Profit.”

About the Management Team

Lauralouise Duffy has worked as CEO of the GFX Group since 2006.  As CEO, Ms. Duffy built an alternative investment platform service business, offering consulting, independent fund support, and structuring services to a wide range of hedge funds, fund of funds and institutional clients.  In September 2007, she acquired the GFX Group.  In 2008, the firm launched GFX Alternatives, a company dedicated to the alternative energy and renewable resources sector. Ms. Duffy spent 15 years on Wall Street working in the capacity of CEO, COO and managing director in the hedge fund community.  Ms. Duffy was founder and president of Golden Retriever Capital, a global strategic development firm, consulting to major financial institutions in the alternative investment arena.  Previously, Ms. Duffy spent her career running the operations, administration and distribution of eleven hedge funds, building and running investment fund businesses for Europe, Eastern Europe, Russia, Asia and South America, including equity, global macro, emerging markets, venture and private equity businesses. She was partner and COO of FNY Capital, LLC and Argonaut Capital Management and also worked for EGS Capital Management and Croesus Capital Management.

Anric Blatt, chairman, has been with the GFX Group since its founding in 2005. His principal areas of focus include strategy allocation, portfolio management, manager research and due diligence, as well as new product development and structuring. Mr. Blatt has performed extensive research and due diligence on hedge fund managers for over twelve years, and has been instrumental in the development and management of a number of successful investment vehicles both private and public. Prior to joining GFX, Mr. Blatt was the founder, CEO and chairman of the Infiniti Capital Group where he was involved in all aspects of building the business including product development, branding, portfolio management and research. During his tenure as CIO and CEO of the firm, he and his team successfully created and managed twelve public investment funds, a capital markets and securitization business and a hedge fund research organization. He was responsible for a portfolio of investments in excess of $2 billion AUM.  Previously Mr. Blatt was the regional director in Asia for the qualitative fund of funds group Forsyth Partners and built the Asian business for managed futures specialist Kenmar.