CARBON CREDITS

Carbon credits are a range of tradable permits or certificates – measured in tones of CO2 equivalent (tons CO2e) - that give the holder the ‘right to pollute’.

Emissions permitted to countries but not "used" can be sold to countries that are over their targets. This has created a new commodity in the form of emission reductions or removals. Since carbon dioxide is the principal greenhouse gas, it is more commonly called carbon trading.

Provided the market price for credits is high, the system has incentives towards companies to reduce their emissions so they can profit from selling their excess pollution ‘credits’ to other companies who pollute over their quota.

Every company uses energy and resources, emitting pollution during the process. Today, this energy use and pollution can be measured in tonnes of emitted carbon dioxide. Companies can look at all aspects of their business to assess their overall carbon emissions, to produce an approximate company ‘carbon footprint ’.

As of July 2010, a cap was put on the emissions of the six main greenhouse gases under the Kytoto protocol. Industrialised countries have agreed to cut their yearly emissions of carbon, as measured in the six greenhouse gases, by varying amounts as compared to 1990. In order to reach this target countries were given quotas – or caps – on their greenhouse gas emissions. However, presently inspite of the various international environmental meeting, the Kyoto protocol has failed to verify.

A country can then meet its emission targets by allocating the big polluting companies within their country a set number of allowances, capping their emissions and allowing them to trade with one another or companies from other countries.

The EU adopted the Kyoto mechanism in 2005 and now has the most developed carbon trading market – the EU Emissions Trading Scheme (EU ETS) – involving all EU countries. It covers around half of the EU’s total CO2 emissions. A second round of trading began in 2008 and will run until 2012.

Under the EU ‘cap and trade’, each government allocates their given credits as they see fit among its heaviest polluting industries, including power generators, steel, cement and ceramics companies.

Aviation, aluminium and ammonia production have been included from 2012. Companies must submit their annual emissions figures and ensure they have sufficient carbon credits to cover them. This has caused ruffles in Indian Airline industry, with Airlines hiking up their price rates to Europe.

Operators that pollute over their allowance have the option of buying credits from companies that have excess. Implementing more energy efficient production processes or switching to low emissions fleets, for example, will reduce a company’s total emissions.

By selling their excess credits, such companies should be able to recoup some of the initial capital costs of greening their business while over-polluters are forced to pay for more credits if they fail to cut their emissions.

Types of carbon credits

There are four types of carbon credits:

EUAs – The original credits, the European Union Allowances (EUAs), are issued freely by the EU and valid for use during the set period of trading within the Emissions Trading Scheme (EU ETS).  The second phase of trading will end on 31 December 2012 and all second-phase EUAs must be used within that period.

CERs – (known as Certified Emission Reductions).The developing – or non Annex-I – countries that signed the Kyoto Protocol can establish projects to cut carbon emissions, such as constructing a wind farm or planting trees in deforested areas. These produce carbon ‘offsets’ that can be added to the pool of credits available to companies.

ERUs – Emission Reduction Units (ERUs) are credits created under the Kyoto Protocol as Joint Implementation (JI). JI is when a developed country sets up a carbon cutting project in another developed country where it might be more appropriate and/or cost-effective.

VERs – For companies not obliged to cut their carbon emissions under the Kyoto Protocol, Verified Emission Reductions (VERs) offer a way to offset unavoidable carbon emissions to become ‘carbon neutral’.

The biggest criticism of the EU trading system is that the cap isn’t tight enough to provide the economic incentives companies need to cut their emissions.

An over allocation of pollution permits in the first round of trading meant companies easily stayed within their allowance and the market was flooded with near-worthless excess credits.

The start of the second round of trading in 2008 has been hit by the global recession that has caused a steep drop in output and therefore carbon emissions.
Carbon credit trading – how does it work?

 

• One allowance is the equivalent to one metric ton of emitted CO2.

• Allowances can be traded privately or on the international market at current market prices.

• Allowances are usually priced in Euros per tonne of carbon dioxide or its equivalent (CO2e).

• Five markets exist for trading carbon allowances: the European Climate Exchange, the Chicago Climate Exchange, Nord Pool, PowerNext and the European Energy Exchange.

• Many private companies now provide carbon offsetting projects to generate credits that can be sold on one of the trading markets to over-polluters.

@Notes courtesy of Aparna, Shruti Gokhale, Dhanika and myself

Function of Journalism By Preeti Hiwale

Surveillance- Surveillance refers to the news and information role of mass media. This role can be subdivided into Warning surveillance associated to news media i.e. information about impending threats such as floods, military attack and depressed economic conditions and Instrumental surveillance associated with both news and popular media i.e. transmission of useful information about news products, entertainment guides, stock market prices etc. the benefit of this is instantaneous awareness. The disadvantage is misinformation can travel just as quickly as accurate information and  speedy dissemination means accusations and supposed facts are not verified before they are transmitted.

Interpretation- it is the function of mass media that provides a context for new info. And commentary about its significance and meaning. It goes beyond basic facts of an event or topic to provide context, analysis and possible consequences. Journalism has to look at patterns, motives and influences to explain what they are reporting. It helps audiences to broaden visions and understand the complexities of issues. While journalism is only about reporting facts, contemporary trends indicate blending of news-reporting and commentary functions.

Linkage function- connects different elements of society through dialogue and exchange.

Transmission of values- journalism performs socialization function. The media is a vehicle for transmitting cultural norms, values, rules and habits. Journalism acts an important carrier of value, beliefs, mores and attitudes. It presents the modeling of appropriate attitudes and behavior.

Entertainment- journalism also offers entertainment through emotional relaxation, amusing stories, humour, cultural enjoyment etc. The entertainment function of mass media is subdivided into three categories: stimulation as an antidote for boredom, relaxation as a part of an soothing or perhaps meditative environment and release as a means to safely express anger, hostility or fear.

Development function- journalism plays an important role in community development, supporting or raising questions over development, evaluating development policies and reporting on developmental issue. It is also important to develop awareness and vigilantism among citizens.

Yellow Journalism

Yellow journalism refers to when publishers exploit their position and create flashy and irresponsible news reporting. This was done by twisting and distorting news and was done by increasing readership.

Josephs Pulitzer and William Hearst are the two big names associated with yellow journalism. Both these men, fought for more readership, during their time, employing yellow journalism.

The term comes from a colour comic strip called The Yellow Kid, which was published in the papers of Pulitzer in 1896. The creator R.F. Outcault was one of the objects of the rivalry between Pulitzer and Hearst. Years later Hearst, employed Outcault. Both of them used to Yellow Kid to sensationalize stories and to discredit each other. The Yellow Kid managed to sway public opinion on many issue.

Spanish-American War is a classical example to portray Yellow Journalism. Hearst had sent an illustrator and writer to Cuba, to report on the Spanish-American War. They wired back to Hearst that everything was peaceful, to which Hearst replied, “You furnish the pictures, and I’ll furnish the war”.

For both of them the Spanish-American War, was a chance to increase their circulation. Both had the stories distasteful and violent. A lot of graphic illustrations were used. They probably forced America to start a real war.

In the end, Pulitzer redeemed himself by setting up the first journalist school, and setting up the prestigious journalism award, the Pulitzer Prizes.

In today’s world, yellow journalism still exists. Though it form has changed, it’s main aim is still the same, to increase readership or viewership and increase revenue. The method has changed from twisting and distorting news to control of what news is to be released or not.

For example the incident of terrorism attack on Taj hotel, Mumbai on 27 November 2008.what media was doing in this case media was continuously covering the whole incident and showing that news which should not be disclosed, just to increase their TRP ratings. Another example in 2006, a kid named Prince fell into a bore well which was two-and-a-half feet in diameter. He was rescued after over two days of efforts, which were telecast live on almost all television channels continuously for 48 hours neglecting all important news but it was not important to show such a news on a continuous basis.

So yellow journalism still does exist and with media houses growing bigger and spreading across mediums, it is spreading faster.

However there is one thing that present day, yellow journalism faults in and that is the target audience. Both Pulitzer and Hearst understood their target audience, but this cannot be said the same for today’s yellow journalism.

Viral Advertising

The internet has made it easier to pass on files and links. Hence any such viral advertising can become viral. This means online advertisements can be contagious. Even the passing on of traditional advertisement such as TV, print or radio is contagious to some extent.

Viral advertising gives free advertising for the brand.

A viral hit can encourage large coverage, exposure and goodwill. Standard online ads only engage consumers when they visit a web site. However viral advertisement is not restricted by a website, and have the potential to reach millions across the globe.

The term "viral advertising" refers to the idea that people will pass on and share interesting and entertaining content; this is often sponsored by a brand, which is looking to build awareness of a product or service. These viral commercials often take the form of funny video clips, or interactive Flash games, an advergame, images, and even text.

Viral advertisement is popular because of the ease of executing the marketing campaign, relative low-cost, good targeting, and the high and rapid response rate. The main strength of viral marketing is its ability to obtain a large number of interested people at a low cost. 
The hardest task for any company is to acquire and retain a large customer base. Viral advertising is a technique that avoids the annoyance of spam mail; it encourages users of a specific product or service to tell a friend. This would be a positive word-of-mouth recommendation.

“Word of mouth” application is included, but it’s is not limited to it.

• Internet search engines
• Blogs
• Social media websites
• Television & radio
• Multiple forms of print and direct marketing
• Customer participation & polling services
• Outbound/inbound call center services
• Mobile smartphone integration

 

Still Viral advertising is still a concept for many. The advertisement requires it to be good enough that it produce a mass amount of recommendations.

Creative Brief

Creative brief is the bridge between smart strategic thinking and great advertising and is a key tool with which media and account planners can unlock the creativity of people.

The main task of the creative brief is to inform and more importantly to inspire them. It must reduce all the information that has been gathered from the client, consumer research and other sources, and focus it to a single idea to create a sense of possibilities.

According to Jeff Goodby, the creative brief is equivalent of a fisherman’s guide, where a person shows you the best place to fish and has some ideas about the best flies to use. The guide does not fish, buts makes sure the fisherman has a enjoyable and successful time fishing.

 A creative brief should accomplish three main objectives:

• Give the creative team a realistic view of what their advertising needs to do and achieve.
• Give a clear understanding of the target audience.
• Gives a clear direction to the message which the target audience seems to be susceptible.

A creative briefing is a meeting where a planner or account person will outline the nature of the advertising problem for the creative team and start to suggest ways of solving it. The creative brief is a document that summaries the content of the meeting. However the lines between these terms are getting blurred and at times are used synonym.

Aspect of Creative Process:

The various aspects of a creative process in a Creative brief can be explained by a set of questions.

• Why are we advertising at all- The answer could be due to the client’s business situation and the problem that advertising needs to overcome.
• What is the advertising trying to achieve- This refers to the objectives of the advertisement. It must be realistic and it must be clear about the desired effects.
• Who are we talking to- This refers to a demographic description and defining the group that needs to be addressed and who needs to be excluded.
• What do we know about them- There should be an understanding of the target audience’s lives and minds.
• What’s the main idea to be communicated- This part of the brief is referred to as ‘proposition’. The idea must make the audience reconsider their views on existing or new product. The emphasis is on the message communicated to the audience.
• What’s the best way of planting the idea- This answers, what is referred to as ‘strategy’. Here it is decided on how the idea is to represented and executed.

PILOT STUDY

PILOT STUDY by Preeti Hiwale 

Before the pilot study is conducted, the case study researcher must construct a study protocol. This document describes the procedures to be used in the study and also includes the data gathering instrument or instruments. It also contains the schedule for data collection and addresses logistical problems. A pilot study is used to refine both the research design and the field procedures. Variables that were not foreseen during the design phase can emerge during the pilot study, and problems with the protocol or with study logistics can also be uncovered. The pilot study also allows the researchers to try different data-gathering approaches and to observe different activities from several trial perspectives. 

CASE STUDY

CASE STUDY by Preeti Hiwale

Case study method is another common qualitative research technique. A case study uses as many data sources as possible to systematically investigate individuals, groups, organizations or events. Yin (1994) defines a case study as an empirical inquiry that uses multiple sources of evidence to investigate a contemporary phenomenon within its real –life context, in boundaries between the phenomenon and its context are not clearly evident. The four essential characteristics of case study research are as follows:-

1. Particularistic- This means that the case study focuses on a particular situation, making it a good method for studying practical, real life problems.
2. Descriptive-The final product of a case study is a detailed description of the topic under study.
3. Heuristic- A case study helps people to understand what’s being studied.
4. Inductive- Most case studies depend on inductive reasoning. Principles and generalizations emerge from an examination of the data. Many case studies attempt to discover new relationships rather than verify existing hypotheses.

Advantages of case studies:-

1. Case studies provide tremendous detail.
2. Case studies help to find clues and ideas for further research.
3. To gather descriptive and explanatory data.
4. Case study technique suggests why something has occurred.
5. Documents, historical artifacts, systematic interviews, direct observations, and even traditional surveys can all be incorporated into case study.

Disadvantages:-

1. General lack of scientific rigor.
2. Case study is not amenable to generalization.
3. Often time consuming and may occasionally produce massive quantities of data that are hard to summarize.