Nobuo Tanaka, Executive Director of the International Energy Agency (IEA) 12 Nov. 2008 London The unfolding global financial crisis, referred to by the media as the “credit crunch”, is arguably the most serious since the 1930’s. It has led to tremendous volatility in financial markets, and the onset of sharp recessions in the real economy in the US, UK, and European countries, as well as a serious growth slowdown in China and elsewhere. Evidence is mounting that the crisis is adversely affecting operation of the European Union Emission Trading Scheme (EU-ETS), the principal mechanism for securing reductions in greenhouse gas emissions in the EU. Low carbon projects in developing countries and Eastern Europe are also becoming less viable as the price of emission allowances falls. "At the moment, people are holding off investing in these projects because profitability is dwindling with lower emissions prices," according to one commentator. The ongoing crisis and its effects present significant challenges for the financial management of all businesses. There is the added risk for low carbon businesses that plans for infrastructure projects like power stations and wind farms will founder, as the collapse in wholesale energy prices, low emission allowance prices, and difficulties in raising finance, make clean technology less affoardable. Required A report analysing the impact of the global financial crisis on the operation and outlook for low carbon businesses. The report should include but not be limited to the following elements; a) An examination of the operation of the EU-ETS, how it is being affected by the financial crisis, and the impact on carbon offset projects under the Clean Development Mechanism and Joint Implementation (50 marks) b) An analysis of the threats and opportunities posed by the financial crisis for businesses producing low-carbon goods and services. You should make reference to the following aspects of business activity; 2 • Raising equity capital in the stock market, both new issues and, rights issues. • Raising debt finance in the bond markets, effects on corporate bond prices and yields. • Raising loans and overdrafts from banks to finance working capital. • Revenue generated from trading • Appraisal of investment opportunities. (50 marks) Your analysis should be evidence based and supported by reference to specific appropriate cases as far as possible. Deliverable: A professionally presented report (maximum 3000 words excluding appendices). Your report should be bound with a front and back cover. It should include an executive summary, contents page, and lists of tables and figures. You should use the Harvard system of referencing, and include a detailed list of references. Calculations and tables should be placed in appendices. LEARNING OUTCOMES • The purpose of accounting and its role in business and society • The process by which accounting reports are prepared • The nature of operating, investing and financing in a business context • The sources and application of funds and the expectations of financial markets • How opportunities arise for investment through analysis and evaluation of accounting data. ASSESSMENT CRITERIA • Numeracy and quantitative skills including the use of models of business Situations (20%) • Information and knowledge: scanning and organising financial data abstracting meaning from information and sharing knowledge (20%) • Problem solving and decision making: establishing criteria, using appropriate decision techniques including identifying, formulating and solving business problems; the ability to create, identify and evaluate options; the ability to implement and review decisions (20% • Written communication and the preparation of business reports (20%) • Ability to conduct research into business and management issues (20%) No Plagiarism, MBA Standard, 3000words,UK standard Reference(Harvard),First Class.