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30.3.09

Subprime Carbon?



Subprime Carbon?

Re-thinking the World's Largest New Derivatives Market

As policymakers debate Wall Street reform, there is little attention being paid to whether new regulations will be adequate to govern carbon trading and the carbon derivatives markets, which many experts believe could become larger than credit derivatives markets.

Most proposed climate bills rely on cap-and-trade systems to achieve greenhouse gas reductions, and the Obama administration also prefers this approach. But these bills do not seek to regulate carbon trading as a massive new derivatives market, which is, in fact, what it is.

This new report finds that existing financial regulations, as well as those in major cap-and-trade bills, are inadequate to govern carbon trading, creating a potentially huge regulatory gap.

It also outlines how lessons from the current financial crisis apply to carbon markets. In particular, it raises concerns about "subprime carbon," risky carbon credits based on uncompleted offset projects (projects designed to sequester or reduce greenhouse gases).

Subprime carbon credits may ultimately fail to reduce greenhouse gases and, like subprime mortgages, could collapse in value, yet they are already being securitized and resold in secondary markets. The report recommends that lawmakers include carbon trading in current debates about financial reform, and warns against hastily creating carbon markets without proper oversight.

in friends of the earth

london calling everywhere I



What is G-20?

The G-20 (more formally, the Group of Twenty Finance Ministers and Central Bank Governors) is a group of finance ministers and central bank governors from 20 economies: 19 of the world's 25 largest national economies, plus the European Union (EU). It has also met once at heads of government level, in November 2008. Collectively, the G-20 economies comprise 90% of global gross national product, 80% of world trade (including EU intra-trade) and two-thirds of the world population.

The G-20 is a forum for cooperation and consultation on matters pertaining to the international financial system. It operates without a permanent secretariat or staff. The chair rotates annually among the members and is selected from a different regional grouping of countries.
Members of G-20

In 2008, there are 20 members of the G-20. These include the finance ministers and central bank governors of 19 countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom, United States. The 20th member is the European Union, which is represented by the rotating Council presidency and the European Central Bank.

In addition to these 20 members, the following forums and institutions, as represented by their respective chief executive officers, participate in meetings of the G-20: International Monetary Fund, World Bank, International Monetary and Financial Committee, Development Committee of the IMF and World Bank.

in G20 meltdown in the city

9.3.09

you can run, but you cannot hide















you can run, but you cannot hide

o projecto270 salva um agave, durante a intervenção da costapolis na avenida general humberto delgado, na costa da caparica.

fotos: duarte amaral netto, tânia simões

Agave americana - L.

Agave

AuthorL. Botanical references11, 72, 200
FamilyAgavaceae GenusAgave
Synonyms
Known Hazardswarning signContact with the fresh sap can cause dermatitis in sensitive people[218, 238]. The plants have a very sharp and tough spine at the tip of each leaf. They need to be carefully sited in the garden.
RangeSouth-western N. America. Naturalized in the Mediterranean[11].
HabitatOriginal habitat is unknown but it grows wild in Mexico on cultivated land and in pine woods[11]. Sandy places in desert scrub at elevations around 200 metres in Texas and eastern Mexico[270].
Edibility Ratingapple iconapple iconapple icon 3 (1-5) Medicinal Ratingapple iconapple iconapple icon 3 (1-5)

Physical Characteristics

icon of man icon of perennial/biennial/annual An evergreen Perennial growing to 7.5m by 2.5m at a slow rate.
It is hardy to zone 9 and is not frost tender. It is in leaf all year. The flowers are hermaphrodite (have both male and female organs) and are pollinated by Lepidoptera (Moths & Butterflies), bats.

The plant prefers light (sandy) and medium (loamy) soils and requires well-drained soil. The plant prefers acid, neutral and basic (alkaline) soils. It cannot grow in the shade. It requires dry or moist soil and can tolerate drought.

Habitats

Cultivated Beds; South Wall By; West Wall By;

Edible Uses

Edible Parts: Leaves; Sap; Seed; Stem.

The heart of the plant is very rich in saccharine matter and can be eaten when baked[2, 92, 183]. Sweet and nutritious, but rather fibrous[213]. It is partly below ground[85]. Seed - ground into a flour and used as a thickener in soups or used with cereal flours when making bread[92]. Flower stalk - roasted[92, 95]. Used like asparagus[183]. Sap from the cut flowering stems is used as a syrup[177] or fermented into pulque or mescal[183]. The sap can also be tapped by boring a hole into the middle of the plant at the base of the flowering stem[213].

Medicinal Uses

Plants For A Future can not take any responsibility for any adverse effects from the use of plants. Always seek advice from a professional before using a plant medicinally.

Antiseptic; Diaphoretic; Diuretic; Laxative; Miscellany; Odontalgic; VD.

The sap of agaves has long been used in Central America as a binding agent for various powders used as poultices on wounds[254]. The sap can also be taken internally in the treatment of diarrhoea, dysentery etc[254]. The sap is antiseptic, diaphoretic, diuretic and laxative[21, 218, 240]. An infusion of the chopped leaf is purgative and the juice of the leaves is applied to bruises[218]. The plant is used internally in the treatment of indigestion, flatulence, constipation, jaundice and dysentery[238]. The sap has disinfectant properties and can be taken internally to check the growth of putrefactive bacteria in the stomach and intestines[21]. Water in which agave fibre has been soaked for a day can be used as a scalp disinfectant and tonic in cases of falling hair[21]. Steroid drug precursors are obtained from the leaves[238]. A gum from the root and leaf is used in the treatment of toothache[218]. The root is diaphoretic and diuretic[240]. It is used in the treatment of syphilis[218, 240]. All parts of the plant can be harvested for use as required, they can also be dried for later use. The dried leaves and roots store well[238].

Other Uses

Fibre; Insecticide; Miscellany; Needles; Paper; Pins; Soap; Soil reclamation; Thatching.

The plant contains saponins. An extract of the leaves is used as a soap[2]. The roots are used according to another report[238]. It is likely that the root is the best source of the saponins that are used to make a soap[K]. Chop up the leaves or the roots into small pieces and then simmer them in water to extract the saponins. Do not over boil or you will start to break down the saponins[K]. There is a report that the plant has insecticidal properties, but further details are not given[218, 238]. A very strong fibre obtained from the leaves is used for making rope, coarse fabrics etc[2, 61, 92, 238]. A paper can also be made from the leaves[2]. The thorns on the leaves are used as pins and needles[2]. The dried flowering stems are used as a waterproof thatch[2] and as a razor strop[89]. The plants are used in land-reclamation schemes in arid areas of the world[238].

Cultivation details

Requires a very well-drained soil and a sunny position[1, 200]. The agave is not very hardy in Britain tolerating temperatures down to about -3°c if conditions are not wet[260]. It succeeds outdoors on the south coast of England from Torbay westwards[11]. Plants survived lower temperatures during the very cold winters from 1985/1987 and were unharmed at Glendurgan gardens in West Cornwall[K]. A monocarpic species, the plant lives for a number of years without flowering but dies once it does flower. However, it normally produces plenty of suckers during its life and these continue growing, taking about 10 - 15 years in a warm climate, considerably longer in colder ones, before flowering[11]. This plant is widely used by the native people in its wild habitat, it has a wide range of uses. In a warm climate suckers take 10 - 15 years to come into flower. Members of this genus are rarely if ever troubled by browsing deer[233].

Propagation

Seed - surface sow in a light position, April in a warm greenhouse. The seed usually germinates in 1 - 3 months at 20°c[133]. Prick out the seedlings into individual pots of well-drained soil when they are large enough to handle and grow them on in a sunny position in the greenhouse until they are at least 20cm tall. Plant out in late spring or early summer, after the last expected frosts, and give some protection from the cold for at least their first few winters[K]. Offsets can be potted up at any time they are available. Keep in a warm greenhouse until they are well established[200].


in plants for a future