GreenGeeks in Europe - Our 2010 New Earth Day Commitment
We are very excited about our 2010 Earth Day commitment! This commitment is intended to force businesses with operations in the European Union (including North American subsidiaries) to become more efficient and reduce their carbon footprint.
CO2NeutralWebsite.com initiative neutralizes website emissions by buying carbon allowances and investing in renewable energy projects.
Here is how it works. In the European Union (EU) member countries have instituted policies that forces businesses within certain industries to take responsibility of their carbon (GHG) footprint.
The "EU ETS" is a classic cap-and-trade system, the main features are:
an absolute quantity limit (or cap) on CO2 emissions has been placed on some 12,000 emitting facilities located in the European Union.
tradable allowances (Carbon Credit equivalents) have been distributed to these facilities (typically for free) in an amount equal to the cap, and
these facilities must measure and report their CO2 emissions and subsequently surrender an allowance for every ton of CO2 they emit during annual compliance periods (this would include the allowance plus any shortfall).
Through co2neutralwebsite.com there is an opportunity for people or businesses to buy EU Allowances and lower the total amount of allowances available to those 12,000 facilities. By taking away a larger number of allowances from the EU ETS, the 12,000 emitting facilities will have to pay a higher price for fewer allowances. This will force businesses to implement means to lower their carbon footprint rather than buying allowances to cover their carbon footprint.
Those facilities that achieve operational efficiencies and reduce their carbon footprint will not have to buy as many allowances via the EU ETS as those who have not reduced their carbon footprint. Supply and demand market forces will dictate the price per carbon allowance enabling facilities to include the real price of carbon into the production and supply of their products and services.
EU member countries have National Allocation Plans (NAP). These are central to the EU's effort to achieve its Kyoto obligations. Each Member of the EU must submit a NAP that lays out its allocation scheme under the EU ETS, including individual allocations to each affected unit/facility/industry.
The pledges for how many EU Allowances you buy are in "buckets" of traffic volume. GreenGeeks.com & GreenResellerWebHosting.com combined get more than 50,000 visitors each month so our pledge is for the 100,000 visitor bucket.
All participants can use the CO2 neutral website icon on their website. Participants also receive a certificate that validates their participation in this great initiative.
Let's celebrate our 40th anniversary of Earth Day this year by pledging to reduce our carbon footprint as well as helping others to do the same.