May 4, 2009
Regarding ‘Draft emissions data bodes well for EU carbon market‘:
I think we could all have predicted that 2008 would show lower emissions than 2007, as manufacturing across the EU contracted sharply. It has little to do with the efficacy of the carbon trading system, which is about allowing business as usual for polluting firms for as long as possible.
Furthermore, the recession has caused a remarkable drop in the value of carbon, which will reduce the incentive for further reductions and restructuring, just when we need it most – and have the opportunity.
Carbon trading is a US policy designed for sulphur dioxide (very different to carbon) which was adopted by Kyoto and hence Europe, to try and get the Americans on board.
It didn’t work, and now we have an unnecessarily complicated, market-based system which is more about delaying the inevitable than real progress.
Alasdair CameronAuthor : Andreas