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Greenhouse gases (GHG)

Greenhouse gases (GHG) are gases in an atmosphere that absorb and emit radiation within the thermal infrared range. This process is the fundamental cause of the greenhouse effect. The main greenhouse gases (GHG) in the Earth's atmosphere are water vapor, carbon dioxide, methane, In our solar system, the atmospheres of Venus, Mars and Titan also contain gases that cause greenhouse effects. Greenhouse gases greatly affect the temperature of the Earth; without them, Earth's surface would be on average about 33°C (59°F) colder than at present.

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Gas Flaring Waste - USD40 Billion

A survey which was funded by the World Bank’s Global Gas Flaring Reduction partnership (GGFR), revealed global gas flaring* produced by 60 countries around the world remained consistent over the past 12 years, in the range of 150 to 170 BCM (billion cubic meters, gas volume).

 Gas flaring* - When crude oil is brought to the surface from several kilometers below, gas associated with oil will surface with the oil. In counties which lack gas infrastructure or a nearby gas market, a significant portion of this associated gas may be released into the atmosphere, un-ignited (vented) or being ignited (flared).

According to World Bank data, in 2006 oil producing countries and companies burned about 170 BCM of natural gas worldwide or nearly five trillion cubic feet. That’s equivalent to 27% of total U.S. natural gas consumption and 5.5% of total global production of natural gas for the year. If the gas had been sold in the United States instead of being flared, the total US market value would have been about $40 billion.  Gas flaring emits about 400MT million tons of carbon dioxide (CO2) emissions.  Gas flaring not only leads to global warming but also causes significant loss to cleaner source of waste energy.

 
Carbon Development Projects

Carbon projects are developed for reasons of environmental stewardship, as well as legal compliance under a Greenhouse Gas Cap & Trade program. Voluntary carbon (GHG) reducers may wish to monetize reductions in their carbon footprint by trading the reductions in exchange for monetary compensation. The transfer of environmental stewardship rights would then allow another entity to make an environmental stewardship claim. There are several developing voluntary reduction standards that projects can use as guides for development.

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