Storage

First Canadian Emissions Sale Under Kyoto Protocol

While the effectiveness of the Kyoto Protocol is greatly hampered by inaction from large countries such as the United States and Russian, a Canadian corporation is doing their part to honor the global emissions reduction treaty. TransAlta Corporation has made the first Canadian purchase of Certified Emission Reductions under the Kyoto Protocol. The purchase of 1.75 million tons of greenhouse gas reductions was officially signed at a ceremony in Santiago, Chile.

Calgary, Alberta – August 30, 2004 [SolarAccess.com] Chilean Economy Minister Jorge Rodrýguez, representatives of the Government of Canada, and the selling party, Chilean agricultural giant Agricola Super Limitada (Agrosuper), participated in the signing ceremony along with TransAlta President & CEO Steve Snyder. “Meeting Canada’s Kyoto commitment will be a huge challenge,” said Steve Snyder, TransAlta’s President & CEO. “With emission trades like this one, TransAlta is able to cost effectively take action now to reduce greenhouse gas emissions.” Since 1990, TransAlta said they have reduced the greenhouse gas intensity of their worldwide operations by more than 10 percent while increasing generation capacity by more than 85 percent. A reduction of 1.75 million tons is the environmental equivalent of eliminating the greenhouse gas emissions of a 240 MW coal-fired power plant for one year or the emissions of 62,000 cars. “Emission trading is one of several tools we’ll need to meet the Kyoto challenge,” Snyder added. “We’re going to need every tool at our disposal if we’re going to at least make progress in the right direction.” Through their wind energy division, Vision Quest Windelectric, TransAlta is Canada’s largest developer of wind power currently operating 49 percent of Canada’s total wind power capacity. TransAlta’s goal is to have renewable energy make up 10 percent of their total generation capacity in the next decade. The purchase of emission reductions is a key component of TransAlta’s long term climate change strategy. Other elements of that strategy include: increasing efficiency of existing operations, adding less greenhouse gas intensive generation like natural gas cogeneration and renewable energy, as well as leading research and development efforts on so-called “clean coal” technology.