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May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a sizeable reduction in the local petrol price is expected, says governor Gill Marcus.
May 24 2012 15:29
The Reserve Bank will maintain current interest rates, says governor Gill Marcus.
May 24 2012 12:00
Britain fell deeper into recession than initially thought in the first quarter of 2012, upping chances that the central bank could inject more stimulus into the economy.
Johannesburg - Synthetic fuels group Sasol has become the first company globally to register a nitrous oxide (N2O) abatement project using secondary catalyst technology to convert the greenhouse gas N2O into harmless nitrogen and oxygen gases.
The project is expected to earn significant income through sales of the resulting carbon credits. A share of these carbon credits will be invested to benefit local community-based sustainable development projects.
"This project reflects our continuous drive to decrease the impact of our operations on the environment through the use of innovative technologies. It offers significant environmental benefits for Sasol, our local communities and South Africa." says Dr Reiner Groh, group general manager, Sasol Chemical Businesses.
Sasol Nitro commissioned its N2O emission abatement technology during the first quarter of 2007. It expects to reduce greenhouse gas emissions equivalent to about a million tons of carbon dioxide a year.
One ton of N2O has the greenhouse gas impact equivalent to 310 tons of carbon dioxide.
The project was developed with the assistance of specialist international suppliers MGM International and Heraeus. MGM International is a leader in the development of greenhouse gas emission reduction projects worldwide.
Reductions in its air pollutant
Sasol Nitro has a long-standing supply agreement with Heraeus, which provides catalyst technology for nitric acid production facilities.
The Sasol Nitro nitrous oxide abatement project for the reduction of emissions from its two nitric acid plants based at Sasolburg and Secunda in South Africa is the first of its kind worldwide.
This is the first time that a project using secondary catalyst has been registered as a Clean Development Mechanism project in terms of the Kyoto Protocol.
Sasol is achieving significant reductions in its air pollutant emissions and is reducing its overall environmental footprint by reducing emissions and promoting energy and water efficiencies.
A carbon credit is a tradable permit scheme which is an incentive for countries and businesses to reduce greenhouse gas emissions into the air.
A single carbon credit is equivalent to a ton of CO2 reduced. Developed countries that ratified the Kyoto Protocol have set quotas on the levels of greenhouse gas emissions.
Businesses that exceed their allowed quotas must buy carbon credits, while those that operate below quotas can sell the remaining credits.
The Clean Development Mechanism allows developing countries to generate carbon credits which can be used by developed countries to offset their emissions.
Carbon credits can be exchanged by means of buying or selling in international markets.