IMPACTS OF GHG PROGRAMS AND MARKETS ON THE POWER INDUSTRY

This Chapter provides an overview of the global responses to Climate Change (CC) and of the established and emerging GHG Markets and Programs arising from this.The impacts on the electrical power industry and how it is taking advantage of these programs and markets and adapting to CC is discussed.This includes the impacts on policy, strategy and decisionmaking in major players such as governments, manufacturers, utilities, contractors and consultants and how they are leading by example within their own operations.. International Response To Climate Change: An OverviewAccess to modern forms of energy is fundamental to development and the eradication of poverty in the developing world, but energy is also responsible for much of the Greenhouse Gas (GHG) emissions that threaten stability of the climate system.Therefore the goal of GHG reduction efforts is not to deny people access to energy, but to reduce the carbon intensity of development and to moderate and stabilize the concentrations of GHGs in the 15 www.intechopen.comElectricity Infrastructures in the Global Marketplace 566 atmosphere through a less carbon intensive energy supply, increased efficiency of energy use, improved carbon sinks and the capture and storage of carbon emissions at source.As different approaches to achieve this goal are carefully evaluated and international negotiations continue, most countries have implemented programs that promote research, tracking and reporting on carbon emissions, voluntary mitigation and adaptation measures, energy efficiency and renewable energy technologies.However, with the exception of a handful of European countries that have implemented some form of carbon/energy tax, governments have not banned or placed restrictions on fossil fuels or CO 2 emissions.Efforts to reduce carbon-intensity of energy supply generally focus on increasing the efficiency of power plants and promoting low-carbon fuels and renewable energy (wind, solar, hydro, geothermal, etc.).Efforts to reduce energy use typically promote energy efficiency and conservation in the industrial, commercial, transport and residential sectors.Efforts to encourage improved management of agricultural and forest lands and the protection of forests tend to enhance the Earth's natural capacity to assimilate carbon and mitigate the impact of CO 2 emissions.Efforts to capture and store carbon emissions at source are focusing on coal fired power plants -so-called clean coal technology.An overview of international efforts to reduce the impact of GHG emissions through mitigation and climate adaptation programs is now presented [15.2.1 to 15.2.8].www.intechopen.com

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