By: Brian Davey

Brian Davey — Tue, 11 Mar 2008 18:25:33 +0000

A magnificient and very accurate statement about the true state of affairs in Europe and its emissions trading system. When you look at what is happening the EU’s and the UK government’s rhetoric does not match the reality
Unfortunately there is quite enough in the early experience of voluntary carbon markets – the sorts of schemes called “offsetting” to promote “carbon neutrality” – and also in the early experience of the European Emissions Trading scheme to justify suspicion. What you say fully justifies the suspicion of the ETS and I would argue that there’s a general reason to be suspicious of all the different kinds of carbon trading at the moment.
As you say the public are also right to be suspicious of the European Union Scheme – in its first phase did not really succeed in reducing carbon emissions in Europe; it is so complicated that most people and politicians do not understand it and, for a time, was seen to be giving rise to windfall profits to big power companies.
The second point I want to make is that it matters a great deal where you enforce your control of carbon emissions. One really ought to control emissions, in the jargon, “upstream”. Unfortunately most current schemes, and also most proposed schemes to extend current arrangements, are what are called “downstream systems”.
My third point concerns ownership rights – the question – who owns the Sky? For what I have not talked about is to whom and how should the permits be issued? Permits are in effect tradeable permissions to use the sky as a greenhouse gas dump. Up to now the right to use the earth’s atmosphere in this way has not required anyone’s permission. It has been free – now we are restricting that right so that it becomes valuable in the sense that companies and people will be prepared to pay money for it.

Comments on: The Lisbon Treaty’s 6 Words on Climate Change

By: Brian Davey